• Options Spread Price Reporting

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • NYMEX COMEX RA0905-4
      • Notice Date
      • 29 May 2009
      • Effective Date
      • 01 June 2009
    • In accordance with the above cited rules, options traders are required to report the price of all floor options transactions to price reporting staff.  Commencing Monday, June 1, 2009, as part of the harmonization of practices on the combined trading floor, a new procedure regarding the physical placement of price reporting staff will be implemented.  COMEX options traders are already familiar with this procedure. 


      If the trade is an options spread, options traders from NYMEX and COMEX will be reporting the options spread to ring reporters stationed at permanent NYMEX Price Reporting System (NPRS) workstations on the podium in all options rings.  During the initial week of this new procedure in order to assist in the transition, Exchange floor staff inside the pit will be helping NYMEX options traders relay option spread reports to the podium.


      The information that must be reported includes the spread type, month(s), strike price(s), quantity(ies) and differential or combination price.  Additionally, individual leg prices must be communicated to the price reporting staff on all options spreads which are comprised of three of more legs in order to accommodate the transitional period before changes to the clearing and price reporting systems takes place.


      Failure to report trades executed on the trading floor is a fineable offense. 


      Questions regarding this Advisory Notice should be directed to one of the following individuals in NYMEX Operations:


                              Robert Stasi, Associate Director           212.299.2067

                              Joseph Vanderberg, Manager                212.299.2058

                              Marcia Beckford, Manager                     212.299.2072