The New York Mercantile Exchange, Inc. today announced that it will launch its new alternative energy equity index futures contract on CME Globex and NYMEX ClearPort, beginning on September 30 for trade date October 1. This contract was previously scheduled to launch on August 20 but was postponed.
The contract will be based on the Ardour Global XL Index, which is comprised of 30 well-capitalized, liquid and publicly traded companies, and seeks to provide exposure to a range of businesses that contribute to the growth and development of the alternative energy industry.
The contract will be cash-settled, and the commodity code will be AX. Four initial months will be listed on a March, June, September, and December cycle beginning with December 2007. The minimum price fluctuation will be $0.50 per index point, and the contract value will be $25 times the cash index. Final settlement will be on the third Friday of the delivery month. Trading on the expiring contract will end as of the close of CME Globex trading on evening prior to final settlement.
For more information, visit the NYMEX website at http://www.nymex.com/.