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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