• Amendments to NYMEX/COMEX Rule 589 (Special Price Fluctuation Limits) for Certain NYMEX and COMEX Metals Futures and Options Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-7334
      • Notice Date
      • 27 April 2015
      • Effective Date
      • 10 May 2015

    • Effective Sunday, May 10, 2015 for trade date Monday, May 11, 2015, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX) and Commodity Exchange, Inc. (COMEX) (collectively, the Exchanges) will amend NYMEX/COMEX Rule 589 (Special Price Fluctuation Limits) to modify the monitoring period following a triggering event from five minutes to two minutes for certain metals futures and options contracts.  Price fluctuation limits deter sharp price movements that may, for example, be driven by illiquid central limit order books prevailing from time to time in otherwise liquid markets.

      Please refer to the following appendixes for details regarding special price fluctuation limits for certain NYMEX/COMEX metals futures and options contracts:

      Appendix A: Metals Futures and Options Contracts Subject to NYMEX/COMEX Rule 589

      Appendix B: Amendments to NYMEX/COMEX Rule 589 (blackline format)

      Questions regarding this notice may be directed to:

      U.S.

      Joann Arena                                        +1 212 299 2356                                 Joann.Arena@cmegroup.com

      Miguel Vias                                          +1 212 299 2358                                 Miguel.Vias@cmegroup.com

      Youngjin Chang                                   +1 312 466 4637                                 Youngjin.Chang@cmegroup.com

      Fred Penha                                         +1 212 299 2353                                  Fred.Penha@cmegroup.com

       

      Europe

      Sandra Ro                                          +44 203 379 3789                                Sandra.Ro@cmegroup.com

      Anindya Boral                                      +44 203 379 3738                               Anindya.Boral@cmegroup.com

      George Adcock                                    +44 203 379 3737                              George.Adcock@cmegroup.com

       

      Please click here for complete SER-7334.

      Amendments to NYMEX/COMEX Rule 589 (Special Price Fluctuation Limits) for Certain NYMEX and COMEX Metals Futures and Options Contracts

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