Nymex options go electronic

Discussion in 'Wall St. News' started by just21, May 9, 2007.

  1. just21

    just21

    Title: NYMEX Introducing Energy and Metals Options Trading on CME Globex®
    NEW YORK, N.Y., May 9, 2007 — The New York Mercantile Exchange, Inc., a subsidiary of the NYMEX Holdings, Inc. (NYSE: NMX) today announced that it will offer options trading for crude oil, natural gas, gold, and silver on the CME Globex electronic trading platform beginning on June 24 for trade date June 25. To ensure orderly exercise procedures, no expiring options will be accepted for trading after the close of open outcry trading on the day of expiration.

    The options will be available for trading on CME Globex from 6:00 PM Sundays through 5:15 PM Fridays New York time, with a 45-minute break between 5:15 PM and 6:00 PM.

    For crude oil options, expiration months will include the balance of the current year and next consecutive year, with additional June/December months through 2015. Natural gas options contracts will be available for 24 consecutive months.

    Gold options will be listed for the nearest six of the following months: February, April, June, August, October, and December. Contracts for January, March, May, July, September, and November will be listed for trading for a period of two months. A 60–month options contract is added from the current calendar month on a June/December cycle. Silver options will be offered for the nearest five contract months of March, May, July, September, and December. Contracts for January, February, April, June, August, October, and November will be listed for trading for a period of two months. A 60-month options contract is added from the current calendar month on a July /December cycle.

    The strike price intervals are the same as the floor-traded options contracts.

    For more information, go to www.nymexoncmeglobex.com.