Nymex eMiNYs

Has anyone been trading these? It seems a bit odd to me that the exchange is going to clear them through ClearPort, surely that isn't ideal for the retail market?

Or is it true that, as some people say, retail is the ugly duckling at Nymex?

 

I think the trading has generally dropped off in these markets. ICE's cleared OTC contracts have made converts of many of the old permit holders.

In my belief it was a half-hearted attempt at offering an electronic solution. They shut down permits to trade this after they hit 3000 lots a day because they didn't want it to grow.

And yes... they don't care about retail.

 

Is there a stock or ETF that closely mimics Crude Oil's price movements?

TIA
-kk70

 

Have you tried QM the emini half pint CL?

It works nicely for me

 

That's certainly true.

But what I meant was that if the Crude E-minis are not going to be easily available for the retail trader to trade once the switch to ClearPort takes place, then are there any other products that can be traded as a substitute/alternative to Crude Oil Futures?

TIA
-kk70

 

Notice: No. 05-210 -- May 16, 2005
To: All Exchange Members and Member Firms; All Clearing Members
From: James Newsome, President

Subject:

Procedure for the transition of NYMEX miNY(sm)
energy futures contracts from CME Globex® to
NYMEX ClearPort(sm) Trading on June 20, 2005

The transition of the NYMEX miNYsm energy futures contracts from the Chicago Mercantile Exchange’s Globex® to The New York Mercantile Exchange’s ClearPortsm Trading on June 20, 2005 will be performed in the following manner:

- NYMEX miNY(sm) Crude Oil

 The August NYMEX miNYsm crude oil will not be listed for trading on Globex®.
 The July NYMEX miNYsm crude oil contract will expire on Globex® at 2:30 PM EST on June 20.
 The August NYMEX miNYsm crude will be listed for trading on ClearPortsm Trading at 3:15 PM EST on June 20.

- NYMEX miNY(sm) Natural Gas

 The August NYMEX miNYsm natural gas will not be listed to trade on Globex®.
 The July NYMEX miNYsm natural gas will be listed on Globex® until 2:30 PM EST on June 20.
 The July NYMEX miNYsm natural gas will then be listed on ClearPortsm Trading and resume trading at 3:15 PM EST on June 20.
 The August NYMEX miNYsm natural gas will be listed on ClearPortsm Trading at 3:15 PM EST on June 20

Please note that normally the “Next Month” NYMEX miNYsm futures contract is listed ten business days before the “Front Month” contract expires. For the transition, the August NYMEX miNYsm crude oil and the August NYMEX miNYsm natural gas futures contracts will not be listed ten business days prior to expiration of the July NYMEX miNYsm crude oil and the July NYMEX miNYsm natural gas futures contracts. The first day that the August NYMEX miNYsm crude oil and natural gas futures contracts will be listed and available to trade will be Monday, June 20th at 3:15 PM EST on the NYMEX ClearPortsm Trading Platform.

www.nymex.com.

 

It is so sad, that NYMEX is completely anti-electronic trading.

So with this Clearport move, how do we access the mini energy products?

 

It's a pretty simple process as long as you have an account with an FCM that clears NYMEX trades...Also allows you to trade other NYMEX cleared OTC products as well.

NYMEX ClearPort: Getting Started

 

Ok, next question --

how do we get an account with an FCM?

 

You need an account with any of the firms listed on this page.