Large Trader Reporting Requirements, All Month/Any One Month Position Accountability Levels, Expiration Month Position Limits, Reporting Levels and Aggregation Allocations for Six (6) New SO2 Emission Futures Contracts and One (1) New SO2 Emission Option Contract, and Administrative Amendments for Existing Related Contracts and Rules 9A.26 and 9A.27A

In connection with the launch of six (6) new sulfur dioxide (SO₂₎ emission 25-allowance futures contracts on trade date July 13, 2009, and one (1) new SO₂ emission option contract on trade date July 14, 2009, please note below the corresponding all month/any one month accountability levels (Rule 9A.26), expiration month position limits (Rule 9A.27), reportable levels (Rule 9A.34) and aggregation allocations for the new contracts.  The commodity codes are provided for the Clearing Members that file reports pursuant to NYMEX Rule 9A.33 in a machine-readable format.   

Please also note administrative amendments to two (2) existing related contracts whose all month/any one month accountability levels and expiration month limits are affected with the launch of the aforementioned new contracts.  Additional administrative amendments to NYMEX Rules 9A.26, All Month/Any One Month Accountability, and 9A.27A, Expiration Position Accountability Levels, clarify that an SO₂ emission 25-allowance futures contract shall be deemed equivalent to .25 of a NYMEX SO₂ emissions allowance futures contract. 

Contract related questions can be directed to Anthony V. Densieski, Director, Market Surveillance at 212.299.2881, or Chris Reinhardt, Supervisor, Market Surveillance at 212.299.2884.  Please contact Martin Jacobs, Senior Director, Applications Development at 212.299.2829 if you have any information services questions. 

(Bold/underline indicates additions; strikethrough indicates deletions.)

9A.26 All Month/Any One Month Position Accountability

Sections (A) and (B) are unchanged.

(C) The any one month/all month position accountability levels shall be calculated on a net futures-equivalent basis.

For purposes of calculating futures-equivalent positions, the following shall apply:

• a NYMEX Light Sweet Crude Oil miNY Futures Contract shall be deemed equivalent to .50 of a Crude Oil Financial Contract;
• a NYMEX Natural Gas miNY Futures Contract shall be deemed equivalent to .25 of a Henry Hub Financial Last Day Futures Contract;
• a NYMEX miNY Gasoline Futures Contract shall be deemed equivalent to .50 of a New York Harbor Gasoline Blendstock RBOB Futures Contract;
• a NYMEX miNY Heating Oil Futures Contract shall be deemed equivalent to .50 of a Heating Oil Financial Futures Contract;
• a COMEX miNY Gold Futures Contract shall be deemed equivalent to .50 of a Gold future;
• a COMEX miNY Silver Futures Contract shall be deemed equivalent to a .50 Silver future; and
• a COMEX miNY Copper Futures Contract shall be deemed equivalent to a .50 Copper Future.
• An SO₂ Emission 25-Allowance Futures contract shall be deemed equivalent to .25 of an SO₂ Emission Allowance Futures contract.

An ON-Peak contract month shall be deemed 340 hours for:

• ISO New England;
• Midwest Independent Transmission System Operator, Inc. (MISO); and
• PJM Interconnection, LLC.

An OFF-Peak contract month shall be deemed 390 Hours for:

• ISO New England;
• Midwest Independent Transmission System Operator, Inc. (MISO);
• New York Independent Systems Operator (NYISO); and
• PJM Interconnection, LLC.

Sections (D) and (E) are unchanged.

9A.27A Expiration Position Accountability Levels

Sections (A) and (C) are unchanged.

 (B) The Expiration Position Accountability Levels for energy and metals contracts, for those contracts enumerated in Appendix (A), Chapter 9A for which expiration accountability levels are designated, are effective on the open of trading of the last three trading days of the Penultimate and Last Day cash-settled futures contracts. The expiration position accountability levels shall be calculated on a net futures-equivalent basis.

For purposes of calculating futures equivalent positions, the following shall apply:

• a NYMEX Light Sweet Crude Oil miNY Futures Contract shall be deemed equivalent to .50 of a Crude Oil Financial Contract;
• a NYMEX Natural Gas miNY Futures Contract shall be deemed equivalent to .25 of a Henry Hub Financial Last Day Futures Contract;
• a NYMEX miNY Gasoline Futures Contract shall be deemed equivalent to .50 of a New York Harbor Gasoline Blendstock (RBOB) Contract;
• a NYMEX miNY Heating Oil Futures Contract shall be deemed equivalent to .50 of a Heating Oil Financial Futures Contract;
• a COMEX miNY Gold Futures Contract shall be deemed equivalent to .50 of a Gold future;
• a COMEX miNY Silver Futures Contract shall be deemed equivalent to a .50 Silver future; and
• a COMEX miNY Copper Futures Contract shall be deemed equivalent to a .50 Copper future.

• An SO₂ Emission 25-Allowance Futures contract shall be deemed equivalent to .25 of an SO₂ Emission Allowance Futures contract.