• Merging Open Interest from 4 DPL NGL Contract to 5 DPL NGL Contracts

      • To
      • Clearing Member Firms; Back Office Managers; Service Bureaus
      • From
      • CME Clearing
      • #
      • 09-567
      • Notice Date
      • 17 December 2009
      • Effective Date
      • 17 December 2009
    • In response to customer demand, The Exchange will be migrating the open interest from all remaining 4-decimal priced NYMEX NGL Swaps and Options (See Codes Below) to the 5-decimal priced equivalents.
      This migration will be accomplished in the two steps described below:
      1.     The 4-decimal priced NYMEX NGL Swaps and Options (Codes PT, G1, V6, Z2, D1, Y5, W1, W3, E1, V5, and Y2) WILL BE DELISTED effective with the close of business on Friday December 18, 2009.  All existing 4 DPL NGL Contracts (See list below) will have a Last Trade Date and Last EFP date set to December 18, 2009.
      2.     On Sunday Dec.20, for business day Monday December 21, 2009, CME Clearing will execute position adjustments in the Clearing system which will have the effect of liquidating all remaining open positions in the 4 DPL contracts and establishing new positions in the related 5 DPL Contract (Listed below) at Friday’s settlement price for the 4 DPL contracts.   Clearing Members will need to make similar adjustments on that date within their own recordkeeping systems to account for the movement of positions from the 4 DPL contracts to the corresponding 5 DPL contracts.