• IMPORTANT: NYMEX Products Settlement Date Changes - Effective Friday, June 18, 2010

      • To
      • Clearing Member Firms; Back Office Managers
      • From
      • CME Clearing
      • #
      • 10-259
      • Notice Date
      • 18 June 2010
      • Effective Date
      • 18 June 2010
    • Currently, for a group of cash-settled NYMEX futures products, The Clearing House does not close the respective positions and finalize settlement until the fifth business date following the last day of trading.  The last trading day corresponds to when trading actually terminates for these products and the final settlement price for these products corresponds to the last trading day.  Generally, final settlements require no correction but sometimes providers of final settlement prices need to make corrections.  Based on our analysis, we have found that it is almost always the case for many of these products that any such corrections are available within two days.

      For those products, therefore, we are changing the number of days the accounts are kept open past the final trading day from five business days to two business days.  Consequently, for these products, the final mark-to-market amounts will be banked as part of the end-of-day clearing cycle on that second subsequent business day following the termination of trading, and the initial margin (performance bond) requirement for the positions will be released at end-of-day

      For the full text of this advisory, please click here.