The New York Mercantile Exchange (Nymex) plans to open a new 90-minute trading session on Friday for 32 new over-the-counter energy contracts, including multiple natural gas basis contracts and some new 400 MWh power contracts based on delivery in New York. Nymex said it also will provide clearing services for the new contracts.
The contracts will be traded on the Nymex Access system from 7:30 to 9 a.m. Monday through Friday and will be available for exchange of futures for swaps and exchange of futures for physicals transactions until 2:30 p.m. through the Exchange’s OTC services web site. Each of the contracts will be listed 36 months forward.
The new products include:
“This product slate reflects an additional group of tools commonly used in the OTC marketplace and will expand the range of risk management services we offer those participants,” said Exchange President J. Robert Collins Jr.
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