NYMEX Rule 9.04A codifies procedures for the submission of various futures and options transactions through the use of the NYMEX ClearPort® Clearing Trade Portal. This is a NYMEX clearing rule which is also used for the submission of comparable transactions for the Dubai Mercantile Exchange ("DME"). Various amendments are being made to this rule in order to clarify procedures for the two types of transactions which are submitted to the Exchange under this rule, via the NYMEX ClearPort® Clearing Trade Portal. These two transactions are: 1) transactions submitted to the Exchange via the NYMEX ClearPort® Clearing Trade Portal for clearing in connection with a contract that is listed on the Exchange for clearing only ("DME Transactions"); or 2) transactions listed for trading and clearing on the Exchange ("NYMEX Transactions"). These two transactions are not competitively executed on the Exchange.
The amendments also clarify the fact that DME Transactions are handled subject to DME rules and regulations. Additionally, references to "OTC Brokers" were changed to refer to "Brokers" which broadens the definition of broker functionality on NYMEX ClearPort® Clearing for these transactions. Further, other amendments were made, including references to a number of NYMEX Division, COMEX Division, and DME rules, correction of trade submission deadlines, changing references from "Clearing Order" to "Transaction" for clarification purposes, and other non-substantive amendments which clarify the rules for DME and NYMEX Transactions.
These amendments are being made in order to clarify the types of transactions that can be submitted and to address the fact that breaches of procedure for DME Transactions are handled pursuant to DME rules and regulations. These changes will be made effective on July 11, 2008.
Click Here to view amendments |
