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Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: exchangeinfo@nymex.com X-To: sara.shackleton@enron.com X-cc: X-bcc: X-Folder: \Sara_Shackleton_Dec2000_June2001_2\Notes Folders\Notes inbox X-Origin: SHACKLETON-S X-FileName: sshackle.nsf Notice # 01-56 February 9, 2001 TO: All New York Mercantile Exchange Members and Member Firms FROM: Neal Wolkoff, Executive Vice President RE: CFTC Approval and Exchange Implementation of New End of Week=20 Post- Close Trading Session DATE: February 9, 2001 Notice # 01-56 =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D Please be advised that beginning on Friday, February 16, 2001, the Exchange= =20 will offer a new end of week trading session. The new program applies only = to=20 the NYMEX Division and does not affect COMEX=01,s existing post-settlement= =20 session. This new End of Week Session is being offered only for the crude oil, heati= ng=20 oil, unleaded gasoline and natural gas futures contracts. It is not=20 available for options contracts in these commodities. In addition, the End= =20 of Week Session is not available for NYMEX Division metals contracts nor wi= ll=20 it be offered for the Exchange=01,s propane futures contract. Specifically, the new program provides for a special trading session (the= =20 "End of Week Session") to be offered on certain days after the close as a= =20 substitute on such days for the NYMEX Division post-close trading session. = =20 This End of Week Session will be offered on Fridays and additionally on the= =20 day before any mid-week Exchange holiday, e.g., Thanksgiving. This End of Week Session shall be offered (20) minutes after the close of= =20 trading in all futures contracts and shall be ten minutes in duration. Thu= s,=20 on most Fridays, the End of Week Session will be offered from 3:30 to 3:40= =20 p.m. However, because next Friday is the Friday before an Exchange holiday= =20 (President=01,s Day), early closing hours shall be in effect. Therefore, for this reason, the End of Week Session to be offered next Frid= ay=20 on February 16 shall be commence at 1:20 p.m. and shall continue until 1:30= =20 p.m. On the following Friday, the End of Week Session shall be offered at t= he=20 3:30-3:40 time slot. The new End of Week Session is both similar to and different from the prese= nt=20 post-close trading session. Like the current post-close session, the End o= f=20 Week Session is limited to the first four listed contract months. Also, li= ke=20 the current post-close session, trading transacted during the new End of We= ek=20 Session shall not be included in the calculation of settlement prices. Unlike the current post-close session, the trading range for the new End of= =20 Week Session shall be the trading range for the entire day. The more=20 expansive trading range should provide a better opportunity for unfilled=20 orders to be executed and for market participants to get flat in the market= =20 for that trading session. Also, unlike the current post-close session, there shall be no restrictions= =20 on participation in the new End of Week Session. However, only orders=20 submitted after regular trading hours may be executed in the End of Week=20 Session. If you have any questions concerning the new End of Week trading session,= =20 please contact George Henderson, Vice President, NYMEX Floor Department, at= =20 (212) 299-2071; Rob Stasi, Manager of Trading Floor Systems, NYMEX Floor=20 Department, at (212) 299-2067, or Brian Regan, Senior Associate General=20 Counsel, at (212) 299-2207. __________________________________________________ Please click on the link below to indicate you have received this email. "http://208.206.41.61/email/email_log.cfm?useremail=3Dsara.shackleton@enron= .com& refdoc=3D(01-56)" Note: If you click on the above line and nothing happens, please copy the text between the quotes, open your internet browser, paste it into the web site address and press Return.
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