The New York Mercantile Exchange, Inc. announced today that it will launch its first energy index futures contract, 3-2-1 Plus as part of the NYMEX iPortTM suite of index futures contracts beginning on January 21 for trade date January 22, 2007.
The 3-2-1 Plus futures contract will enable traders to manage risk across their energy portfolios with a single contract. It will be available for trading on the NYMEX trading floor and the CME Globex® electronic trading platform and for exchange of futures for swaps (EFS) transactions on NYMEX ClearPort®.
The contract, which will have the code WX, will be cash-settled and comprised of the core NYMEX energy futures contracts, light sweet crude oil, RBOB gasoline, heating oil, and natural gas ratios of 3:2:1:1 respectively, divided by a factor of 10 to obtain the index value.
NYMEX will list the contract for six consecutive months beginning with the March 2007 contract. They will trade from 10:00 Am to 2:30 PM on the NYMEX trading floor; and on CME Globex from 6:00 PM Sunday through 5:15 PM Friday New York time, with a 45-minute break between 5:15 PM and 6:00 PM on Mondays through Thursdays.
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NYMEX To Launch NYMEX iPortTM 3-2-1 Plus Energy Index Futures Contract
Date 21/12/2006
