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The New York Mercantile Exchange, Inc., a subsidiary of NYMEX Holdings, Inc. (NYSE: NMX), today announced a complete trading and processing schedule for the Independence Day holiday.
For this holiday, any trade execution reports and market data sent from CME Globex® on July 4 will carry a trade date of July 4. Because July 4 is not a NYMEX trade date, NYMEX will convert the trade date on those trades for clearing to July 7, as would be standard for NYMEX holidays in which electronic trading is available.
The complete trading and processing schedule for July 3 to 7, is as follows (all in Eastern time):
Thursday, July 3, 2008
-- Normal floor closing all NYMEX and COMEX products. Not an early closing day.
-- NYMEX and COMEX products on CME Globex, NYMEX ClearPort®, and DME Direct™ will be open until 5:15 PM. They will reopen for trading and trade submission at 6:00 PM.
-- Day/Session orders entered on CME Globex are for the July 4 calendar date and will only work until Friday's close at 5:15 PM. Day/Session orders for the July 7 trade date will need to be reentered on Sunday, July 6.
-- Day/Session orders entered on NYMEX ClearPort are for the July 7 trade date and will continue working until Tuesday's close at 5:15 PM.
-- Large trader reporting for the July 3 trade date for any clearing members holding DME positions will be due by midnight on Thursday.
Friday, July 4, 2008 (Independence Day)
-- DME intraday settlement price will be published at the normal time of 4:30 AM for the July 4 calendar date. No post-close settlement will be published.
-- NYMEX and COMEX products on CME Globex, NYMEX ClearPort, and DME Direct will be open for trading and trade submission until trading halt at 5:15 PM.
-- Execution reports and market data (MDP and FIX/FAST) sent from CME Globex will carry a trade date of July 4, but NYMEX clearing will override this date to clear these trades with a July 7 trade date.
-- Day/session orders entered on CME Globex will be for the July 4 calendar date and will only work until Friday's close at 5:15 PM. Day/Session orders for the for the July 7 trade date will need to be reentered on Sunday, July 6 or Monday, July 7.
-- Execution reports and market data (FIX/ITC 2.1) sent from DME Direct and block trades price reported from NYMEX ClearPort will carry a trade date of July 7.
-- Day/session orders entered on NYMEX ClearPort will be for the July 7 trade date and will continue working until Tuesday's close at 5:15 PM.
-- NYMEX TAS products on CME Globex will be available for trading for the July 7 trade date.
-- NYMEX and COMEX trading floors will be closed.
-- NYMEX TMS will be available for trade management for the July 7 trade date.
-- NYMEX cleared trades API will be available.
-- Markets will not be settled. Settlements, open interest, and volume messages will not be published as July 4 is not a trade date or processing date.
-- NYMEX intraday files will not be produced, no clearing will occur, and no clearing functionality will be available.
-- Daily SPAN and erosion (NERC holiday) files will not be produced. -- Options cannot be exercised.
-- There will not be any allocation of energy and metal deliveries or delivery notices, and related forms will not be accepted.
-- First normal intraday file generated on calendar date July 7 will contain trades from calendar date July 4 (as all trades will be for the July 7 trade date).
Sunday, July 6, 2008 -- Normal schedule will resume.
-- NYMEX and COMEX products on CME Globex, NYMEX ClearPort, and DME Direct will re-open for trading and trade submission at 6:00 PM (for the July 7 trade date).
Monday, July 7, 2008 -- Banking for July 3 clearing cycle will occur.
-- First normal intraday file generated on calendar date July 7 will contain trades from calendar date July 4.
-- Large trader reporting (NYMEX/COMEX) for July 3 trade date for any clearing members not holding DME positions will be due by 8:00 AM.
-- Normal erosion for electricity products will occur. Since July 4 is a NERC holiday, "double erosion" will not be necessary.
The full NYMEX 2008 Holiday Schedule can be found at: http://www.nymex.com/holida_schedu.aspx
