Harmonization of Intraday Processing for NYMEX and COMEX Products - Effective February 13, 2012

On Monday, February 13, 2012, we will begin including current-day trades in NYMEX and COMEX products in the normal intraday settlement cycle.  This will ensure that the New York products are treated in the exact same manner at intraday as the Chicago (CME and CBOT) products.

The intraday cutoff – 11:00am Chicago time – will not be altered.  With this change, the variation and premium on current day NYMEX and COMEX trades cleared up to 11:00am will be brought into the intraday settlement cycle, and the updated position quantities resulting from these trades will be included in the intraday margin calculation.

CME Clearing’s plan to make this change was previously communicated several times, most recently in Advisory 11-302, published August 25, 2011.  A report, the “NYMEX Intraday What-If Report” (CPB991) has been available since that time which can be used to estimate how your firm’s intraday settlements will be affected.

(http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv11-302.pdf)

For more information please contact CME Clearing’s Risk Department at 312-648-3888.

FOR THE FULL TEXT OF THIS ADVISORY CLICK HERE

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