• NYMEX Seventh Month TAS - Important Update

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      • #
      • Q2008-029
      • Notice Date
      • 07 February 2008
      • Effective Date
      • 11 February 2008
    • NYMEX issued the following notice to its Market Data Vendors this morning:
       Attention NYMEX Market Data vendors,
      Please be advised that coinciding with the launch of NYMEX Crude Oil MACI Index and NYMEX Crude Oil Backwardation-Contango Index this Sunday, for trade date February 11, 2008, the seventh month of NYMEX Crude Oil futures (CL) will become eligible for TAS trading on both CME Globex® and the NYMEX Trading Floor (in addition to the first, second, and third months which already support trading at settlement).
      It is important to note the following:
      ·      The first Crude Oil futures month seven to become eligible for TAS trading will be the Sep 08 contract.
      ·      This contract will remain TAS-able (as the seventh month) on CME Globex® and the NYMEX Trading Floor until February 20th(the expiration of the Mar 08 regular futures contract)
      ·      On February 21st, the CL Oct 08 contract will then become the seventh month, and hence TAS-able until the expiration of the front-month CL regular futures contract (Apr 08 on March 19th), so on and so forth.
      ·      When the seventh month of CL becomes the third month (i.e., Sep 08 contract on May 21st) it then becomes TAS-able again (please note CL contracts are not TAS-able as the fourth, fifth, or sixth month).
      ·      The expirations of the first, second and third month CL TAS contracts will continue to be the business day prior to the expiration of the CL regular futures contracts (see http://www.nymex.com/CL_term.aspx for the NYMEX Crude Oil expiration schedule).