• Migration of Open Interest from 4 Decimal Natural Gas Liquids to 5 Decimal Natural Gas Liquids and Delisting of 4 Decimal Natural Gas Liquids

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5077
      • Notice Date
      • 15 December 2009
      • Effective Date
      • 18 December 2009

    • Please be advised that effective close of business on Friday, December 18, 2009, for trade date Monday, December 21, 2009, the New York Mercantile Exchange, Inc. (the “Exchange”) will migrate open interest from the 4-decimal priced Natural Gas Liquids (NGLs) swap futures, BALMOs and average price options to the corresponding 5-decimal priced NGLs as illustrated in the table below.  The 5-decimal NGLs use 5-decimal trade and settlement prices.

      The Last Trade Date (LTD) and last Exchange for Related Position (EFRP) date for the 4-decimal NGLs will be Friday, December 18, 2009.  The last settlement date for the 4-decimal NGLs will be December 28, 2009. The migration of open interest will have the effect of liquidating all open positions in the 4-decimal NGLs and establishing equivalent new positions in the 5-decimal NGLs.

      Open Interest in 4-Decimal NGLs to Migrate into 5-Decimal NGLs

      4-Decimal NGLs

      5-Decimal NGLs

      Contract name

      Code

      LTD and Last EFRP Date

      Rule Chapter

      Contract name

      Code

      Rule Chapter

      Mont Belvieu Propane (OPIS) Swap Futures

      PT

      12/18/2009

      581

      Mont Belvieu LDH Propane 5 Decimals (OPIS) Swap Futures

      B0

      409

      Mont Belvieu Propane (OPIS) Average Price Option

      G1

      12/18/2009

      581A

      Mont Belvieu LDH Propane 5 Decimals (OPIS) Average Price Option

      4H

      409A

      Mont Belvieu Propane (OPIS) BALMO Swap Futures

      V6

      12/18/2009

      313

      Mont Belvieu LDH Propane (OPIS) BALMO Swap Futures

      8O

      296

      Mont Belvieu Normal Butane (OPIS) Swap Futures

      Z2

      12/18/2009

      588

      Mont Belvieu Normal Butane 5 Decimals (OPIS) Swap Futures

      D0

      411

      Mont Belvieu Normal Butane (OPIS) Average Price Option

      D1

      12/18/2009

      588A

      Mont Belvieu Normal Butane 5 Decimals (OPIS) Average Price Option

      4K

      411A

      Mont Belvieu Normal Butane (OPIS) BALMO Swap Futures

      Y5

      12/18/2009

      316

      Mont Belvieu Normal Butane (OPIS) BALMO Swap Futures

      8J

      299

      Conway Propane (OPIS) Swap Futures

      W1

      12/18/2009

      584

      Conway Propane 5 Decimals (OPIS) Swap Futures

      8K

      257

      Mont Belvieu Natural Gasoline (OPIS) Swap Futures

      W3

      12/18/2009

      585

      Mont Belvieu Natural Gasoline 5 Decimals (OPIS) Swap Futures

      7Q

      405

      Mont Belvieu Natural Gasoline (OPIS) Average Price Option

      E1

      12/18/2009

      585A

      Mont Belvieu Natural Gasoline 5 Decimals (OPIS) Average Price Option

      4I

      405A

      Mont Belvieu Natural Gasoline (OPIS) BALMO Swap Futures

      V5

      12/18/2009

      314

      Mont Belvieu Natural Gasoline (OPIS) BALMO Swap Futures

      R0

      297

      Mont Belvieu Iso-Butane (OPIS) Swap Futures

      Y2

      12/18/2009

      587

      Mont Belvieu Iso-Butane 5 Decimals (OPIS) Swap Futures

      8I

      406

      As a result of this migration, the Exchange will delist the 4-decimal NGLs effective close of business on Friday, December 18, 2009.

      Should you have any questions, please contact Daniel Brusstar at (212) 299-2604.

       

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