Notice # 01-162
May 11, 2001

TO:
All NYMEX Division Members and Member Firms

FROM:
Neal L. Wolkoff, Executive Vice President

RE:
Reminder and Clarification on NYMEX Division Post-Close Trading Sessions

DATE:          May 11, 2001
===========================================================
Reminder
Changes will be going into effect today, Friday, May 11, 2001 for the End
of Week post-close trading sessions and also, beginning on Monday, May 14,
2001, for the Monday-Thursday post-close trading sessions. The trading
range for all of 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

Clarification
Previously, the trading range for the Monday-Thursday sessions was the
closing range for the applicable contract month. Exchange staff interpreted
the rule to provide that if a contract month did not trade during the
close, there would be no closing range and thus it would not be permissible
to trade that contract month during the post-close.  Now, as noted above,
the post-close session trading range on any day of the week will be an
expanded version of the daily range. Therefore, the Exchange is issuing the
following clarifications as to the contract months that can be traded
during a post-close session (on any day of the week):

1.   Only the first twelve listed contract months are eligible for trading
in the post-close.

2.   If a particular contract month does not trade during the RTH session,
it may not be traded during the post-close.

3.   It is not necessary for a contract month to trade during the close in
order to be traded in the post-close as long as it has traded during the
RTH session.

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.










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