New York Mercantile Exchange to Amend Post-Close Trading Range in Energy Futures Markets

The New York Mercantile Exchange has received approval from the Commodity Futures Trading Commission, to implement a one-year pilot, beginning on Friday, February 19, which will allow post-close trading in energy futures which reflects the entire closing range. Currently there is a two-minute post-close session in which the range is limited to a predetermined number of ticks surrounding the mid-point of the closing range. Post-close trading is used for brokers to transact unfilled orders that were placed prior to the close of the market but were unable to be executed during the closing range. The post-close trading rules for the Exchange metals markets will remain unchanged.