• NYMEX Options Expiration Operational Procedures for the Trading Floor and Clearing Members (9T, 9U, 9V, F, JO, Z, OE, OT, OU, OY, JCL, PEP, PML, PSG) - Effective Friday, May 27, 2011

      • To
      • Clearing Member Firms; Floor Brokers; Floor Clerks
      • From
      • CME Clearing
      • #
      • 11-184
      • Notice Date
      • 26 May 2011
      • Effective Date
      • 27 May 2011

    •  The expiration date for the June 2011 option contracts for the NYISO Zone A 5 MW Peak Calendar Month Day-Ahead LBMP Swap Option (9T), NYISO Zone G 5 MW Peak Calendar Month Day-Ahead LBMP Swap Option (9U), Zone J 5 MW Peak Calendar Month Day-Ahead LBMP Swap Option (9V), Heating Oil Calendar Spread Option (F), PJM Monthly-Calendar LMP Swap Option (JO), RBOB Calendar Spread Option (Z), ISO New England Calendar-Month LMP Swap Option (OE), AEP-Dayton Calendar-Month LMP Swap Option (OT), Northern Illinois Calendar-Month LMP Swap Option (OU), Cinergy Calendar-Month LMP Swap Option (OY), PJM JCPL PK Calendar-Month Day-Ahead LMP (JCL), PJM PEPCO PK Calendar-Month Day-Ahead LMP (PEP), PJM 50MW Calendar-Month LMP (PML), and PJM PSEG PK Calendar-Month Day–Ahead LMP (PSG) is Friday, May 27, 2011.

       

      GENERAL OPERATIONAL PROCEDURES

       

      All Clearing Members and Qualified Floor Traders that carried an options position as of the close of business day prior to the expiration day, or engaged in trading activity on Expiration Day in the expiring option contracts will be required to have a knowledgeable, duly authorized representative present at the their normal work station promptly at 3:15 PM EST until released by the Exchange staff as specified below.  All adjustments  and/or corrections, must be accompanied by relevant supporting documentation prior to being incorporated into expiration processing, in essence making the expiration processing an extension of the afternoon trade resolution procedures. 

       

      CME Group NY Division Clearing (212-299-2120), Floor Trade Processing (212-299-2465 and 212-299-2044) personnel, as well as a representative of the Floor Committee will be available to assist with the processing of notices of Exercise and Abandonment, transfers, trade corrections and other questions or problems you may have.

       

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

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