Notice to Members
Notice No. 486
09/19/2008
Expiration Classification for Certain Financially-Settled Petroleum Contracts
The Exchange will implement a change from expiration accountability levels to expiration position limits in its financially-settled Crude Oil (WS), Heating Oil (BH) and RBOB Gasoline (RT) contracts. Additionally, please be aware that a number of related futures and options contracts which are aggregated with the contracts cited above pursuant to Exchange Rule 9.27, will therefore be subject to position limits. These amendments are made in cooperation with the Commission’s actions with respect to conditioning of no action letters for foreign-based exchanges providing direct access to U.S. customers. These changes will be made effective on trade date September 23, 2008. The amendments to NYMEX Chapter 9, Appendix A, as well as MATRIX for specific contract information, are attached.

(Bold/strikethrough indicates deletions; bold/italics indicate additions.)

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Appendix (A), Chapter 9
Contract Name
Rule Chapter
Commodity Code
All Month
Account-ability Level
Rule 9.26
Any One Month
Account-ability Level
Rule 9.26
Any/All Month Limit 9.26A
Expiration Month Limit
Rule 9.27
Expiration Accountability Level
Penultimate and Metals Contracts*
Rule 9.27A
Expiration Accountability
Level
Last Day Contracts*
Rule 9.27A
Reporting Level
Rule 9.34
Aggregate Into (1)
Aggregate Into (2)
Petroleum                      
USA                      
New York Harbor                      
Heating Oil Financial Futures Contract 825 BH 7,000 7,000   1,000 1,000   100 BH  
New York Harbor Heating Oil Look-Alike Option 551 LB 7,000 7,000   1,000 1,000   100 BH  
NYMEX miNY Heating Oil Futures Contract 404 QH 7,000 7,000   1,000 1,000   250 BH  
                       
RBOB Gasoline Financial Contract 555 RT 7,000 7,000   1,000 1,000   25 RT  
NYMEX miNY Gasoline Futures Contract 403 QU 7,000 7,000   1,000 1,000   150 RT  
New York Harbor Gasoline Blendstock "Look-Alike" Option 385 RF 7,000 7,000   1,000 1,000   150 RT  
New York Harbor Gasoline Blendstock (RBOB) Average Price Option 386 RA 7,000 7,000   1,000 1,000   150 RT  
                       
Cushing, Oklahoma                      
WTI Crude Oil Financial Contract 691 WS 20,000 20,000   2,000 2,000   25 WS  
WTI Crude Oil Look-Alike Option 550 LC 20,000 20,000   2,000 2,000   100 WS  
NYMEX Light Sweet Crude Oil miNY Futures Contract 401 QM 20,000 20,000   2,000 2,000   350 WS  
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com