----- Forwarded by Tana Jones/HOU/ECT on 05/07/2001 11:16 AM -----


	exchangeinfo@nymex.com 05/04/2001 02:30 PM 	   To: tana.jones@enron.com  cc:   Subject: (01-150) Amendments to NYMEX End of Week Post-Close Trading Session Rule	



Notice # 01-150
May 4, 2001

TO:
All NYMEX Members and Member Firms

FROM:
Neal L. Wolkoff, Executive Vice President

RE:
Amendments to NYMEX End of Week Post-Close Trading Session Rule

DATE:
May 4, 2001
===========================================================

Please be advised that beginning on Friday, May 11, 2001, a number of changes to the NYMEX End of Week post-close trading session rule that were recently approved by the Board will become effective.

Specifically, beginning on Friday, May 11, 2001 and continuing for subsequent Friday post-close sessions (and post-close sessions the day before a mid-week Exchange holiday) the following changes will be in effect:

(1)	Contract months eligible for trading in these sessions will be expanded from the first four to the first 12 consecutive listed contract months.

(2)	The sessions will be 5 minutes in duration.

(3)	The trading range for these sessions will be expanded by adding the following ticks above (below) the
daily high (low) for the applicable contract month (provided that this expanded trading range does not violate the maximum permissible price fluctuation limits then in effect):

Crude Oil		20 ticks
Heating Oil 		50 ticks
Unleaded Gas 		50 ticks
Natural Gas		50 ticks

If you have any questions concerning these changes, please contact George Henderson, Vice President, NYMEX Floor Department, at (212) 299-2071; Rob Stasi, Manager of Trading Floor Systems, NYMEX Floor Department, at (212) 299-2067, or Brian Regan, Senior Associate General Counsel, at (212) 299-2207.

AMENDMENTS TO NYMEX RULE 6.57("POST-CLOSE TRADING SESSION") AND
NYMEX RULE 6.57A ("END OF WEEK TRADING SESSION")

(Asterisks indicate additions; brackets indicate deletions.)

Rule 6.57A.	 END OF WEEK TRADING SESSION

On the last trading day of the calendar week, and, in any week when an Exchange holiday falls on a Tuesday, Wednesday or Thursday on the trading day preceding such midweek Exchange holiday, there shall be no post-close trading session provided on the trading floor pursuant to Rule 6.57.  Instead, on such dates, an end of week trading session (the "End of Week Session'') shall commence on the trading floor pursuant to this rule and subsequent to the close.  Except as otherwise provided by the President or the President's designee for a particular trade date, such End of Week Session shall commence twenty (20) minutes after the close of trading in all futures contracts and shall continue for a period of [ten (10)]  * five
 (5) * minutes in all energy and metals futures contracts, subject to the following conditions:

(A) Trading during the End of Week Session shall be limited to the first [four] * twelve * listed delivery months;

(B) Trades occurring during the End of Week Session for a particular contract month of a futures contract shall be executed openly and competitively at a price within the daily trading range of the applicable contract month for that futures contract * and as further expanded above the daily high and below the daily low only for the contracts listed below provided however that no such expanded trading range may exceed the price fluctuation limits in effect for the applicable contract as of the end of the RTH session:

Contract				Additional Ticks

Crude Oil				20 ticks
Natural Gas				50 ticks
Unleaded Gasoline			50 ticks
Heating Oil				50 ticks *

(C) During the End of Week Session, Floor Members, Floor Brokers and their customers may participate in the same manner as trading occurring during the regular RTH session, except that any order submitted during the RTH session, including but not limited to resting orders such as stop orders, limit orders and good until cancelled (GTC) orders, will be deemed to have expired as of the end of RTH for purposes of this End of Week Session.  Accordingly, in the event that a market participant with such an expired order seeks to participate in the End of Week Session, a new order must be submitted.

(D) Prices for trades executed during the End of Week Session shall  be reported on public ticker services;

(E) Current market prices and trades executed during the End of Week Session shall not be considered in determining any settlement price; and

(F) Floor Members executing trades during the End of Week Session shall mark a line across their trading cards prior to the entry of an End of Week Session trade.



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