Pending all relevant regulatory review periods, effective January 8, 2013, NYMEX and COMEX will adopt revisions to Rule 806 (“Offset Process”) that will fully harmonize it with the text of CME and CBOT Rule 806. The revisions correct legacy language which is no longer accurate with respect to the way that the offset of buys and sells in NYMEX and COMEX products take place. The revisions do not impact the offset process which will continue to be handled pursuant to Rule 811 (“Position Change Data”).
The revisions are set forth below, with additions underscored and deletions overstruck.
When a member buys and sells the same commodity for the same delivery month or a put or call option with the same strike price and expiration month and such contracts are cleared through the Clearing House, the purchases and sales are automatically offset one against the other
unless contrary instructions are provided pursuant to Rule 811.
Questions concerning this Special Executive Report should be directed to CME Clearing Support at 312.207.2525.
For media inquiries concerning this Special Executive Report, please contact CME Group Corporate Communications at 312.930.3434 or firstname.lastname@example.org.