Notice to Members
Notice No. 03
01/04/2007
Listing of European-Style Natural Gas Options on CME Globex® and European-Style Crude Oil Options on CME Globex® and NYMEX Trading Floor
Beginning on Sunday evening, January 20, 2008 (for trade date January 22, 2008), the New York Mercantile Exchange, Inc. will list European-Style Natural Gas Options and European-Style Crude Oil Options for trading on the CME Globex® platform, including full User Defined Spread (UDS) functionality for both options.

Additionally, on January 22, the European Crude Oil Options will become available for trading on the NYMEX Trading Floor during normal open outcry hours.

The addition of these venues will allow for the full flexibility of trading European Natural Gas Options and European Crude Oil Options electronically on CME Globex®, open-outcry trading on the NYMEX trading floor, and trade submission through NYMEX ClearPort® Clearing.

The options will trade on CME Globex® with product codes that differ from the existing clearing and trading product codes. The Clearing and Billing product codes for these products will remain unchanged, and will also stay unchanged for trade submission to NYMEX ClearPort® Clearing, as well as for trading on the NYMEX trading floor.

NYMEX  Code
Globex® Code
Product Name
LN
LNE
NYMEX European-Style  Natural Gas Options
LC
LCE
NYMEX European-Style Crude Oil Options


In order to ensure orderly exercise procedures, no expiring option will be accepted for trading on CME Globex® after the close of "open outcry trading" for the respective contracts on the NYMEX floor on the day of expiration.

The contract months available for trading on CME Globex® will match the current listing on Globex® for the respective American-style Options. All existing strikes for the listed months at the beginning of each trade date will be available for trading on Globex®.

Globex® Expiration Months:
Natural Gas (LNE): 24 Consecutive Months

Crude Oil (LCE): Balance of the current year and next consecutive year; two years of June and December months; and five additional years of December months.
Trading Hours on CME Globex ®:
From 6:00 PM Sundays through 5:15 PM Fridays, Eastern Time, with a 45-minute break each day between 5:15 PM and 6:00 PM.
Trading Hours on NYMEX Trading Floor:
Monday through Friday, 9:00 AM to 2:30 PM Eastern Time.
Fee Schedule for the above options contracts:

Globex®  
Member Day Trade $0.45
Member Overnight $0.70
Cross Division Trading (Blended) $0.95
Non Member $1.45
 
NXPIT  
Member Day Trade $0.45
Member Overnight $0.70
Cross Division Trading (Blended) $0.95
Non Member $1.45
 
Cash Settlement  
Member $0.90
Non-Member $1.15
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com