Gives market participants unparalleled flexibility to either trade this extensive slate of derivatives through the NYMEX Clear-Port.
An open system, which allows trading firms to customize their front-end software to meet their particular trading requirements.
All market participants desiring to execute transactions on NYMEX Clear-Port must first establish an account with an exchange clearing memebr firm.
Getting started to trade or submit transactions for clearing via NYMEX Clear-Port is easy. Once an account has been established with a clearing member, complete the on-line. Once approved, you'll be able to begin trading immediately .
Market participants can negotiate their own transactions of the Exchange from a slate of more than 350 energy and metals futures and options contracts and post an exchange of futures for swaps (EFS) or exchange of futures for physicals (EFP) transaction directly to the NYMEX Clear-Port clearing system.
When the transactions are submitted, margin requirements are calculated and the transactions are processed by the clearinghouse in the same manner as the Exchange's core futures contracts.
NYMEX Clear-Port clearing is available from 6:00 PM Sunday through 5:15 PM Friday, with a 45-minute break between 5:15 PM and 6:00 PM on Mondays through Thursdays.
Cash-market brokers and market participants provide their assessments of market value for the Exchange contracts as of close of regular-trading-hours for the exchange.
The Exchange collects additional information that is either directly or indirectly related to its cleared bilateral products from other sources on market prices and values.
Exchange staff evaluates all of this information and approves settle prices for the Exchange contracts where there is open-interest. Final settlement will be based on an index of cash market data collected by Argus Media, and Reuters during the trading day.