The New York Mercantile Exchange Inc. said Monday that it will introduce a natural gas look-alike options contract during regular trading hours beginning on Aug. 15. The contract will be listed for 72 consecutive monthly contracts beginning with the September 2005 contract. The options will be European-exercise style and financially settled. The contracts will expire on the second to last business day prior to the underlying futures month. On expiration day, a call option pays out the difference between the settlement price of the underlying futures contract less the strike price multiplied by 10,000 MMBtu, or zero, whichever is greater. Likewise, a put option on expiration day pays out the difference between the strike price and the settlement price of the underlying futures contracts multiplied by 10,000 MMBtu, or zero, whichever is greater. Strike prices will be listed at $0.010 intervals and a minimum price increment of $0.0001/MMBtu.
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Nymex Adds 16 Gas Index and Swing Futures Contracts for Trading on ClearPort
The New York Mercantile Exchange Inc. announced Tuesday it will introduce 16 additional natural gas index and swing futures contracts for eight delivery locations on its NYMEX ClearPort electronic trading and clearing platform beginning on April 24 for the April 25 trade date.
Broad Commission Proposed to Examine Energy Price Spikes
Sen. Richard J. Durbin (D-IL) plans to introduce an amendment to the broad energy bill that calls for the creation of a commission made up of consumer groups, energy executives, small businesses and Bush administration officials to look into the causes of energy price spikes and issue recommendations on ways to avert them in the future.
Broad Commission Proposed to Examine Energy Price Spikes
Sen. Richard J. Durbin (D-IL) plans to introduce an amendment to the broad energy bill that calls for the creation of a commission made up of consumer groups, energy executives, small businesses and Bush administration officials to look into the causes of energy price spikes and issue recommendations on ways to avert them in the future.
NYMEX, CME Prepare to Introduce ‘E-mini’ Futures
The New York Mercantile Exchange announced last week it had reached an agreement with the Chicago Mercantile Exchange (CME) to offer newly created “E-mini” versions of key Nymex energy futures contracts for trading on CME’s GLOBEX electronic trading platform and clearing at the Nymex clearinghouse. It is possible Nymex also will put some of its proposed OTC products on GLOBEX as well.
Senator Proposes Bill to Create Energy Security Fund
Sen. Mary Landrieu (D-LA) plans to introduce legislation this week to create a multi-billion-dollar fund to help the new Office of Homeland Security, in cooperation with the departments of energy, commerce and interior, in its effort to protect the nation’s physical energy assets and domestic supply from disruption due to terrorist attacks.
Senators to Unveil Bipartisan Price-Cap Bill
Sens. Dianne Feinstein (D-CA) and Gordon Smith (R-OR) will formally introduce today the first bipartisan legislation aimed at restoring price stability and reliability in the western electricity and natural gas markets.
Senate Democrats to Respond with Own Energy Bill
In a rebuff to the Senate Republicans’ omnibus energy bill, theranking Democrat on the Senate Energy and Natural ResourcesCommittee plans to introduce his own comprehensive energylegislation this week, according to a spokeswoman.
Senate Democrats Respond with Own Energy Bill
In a rebuff to the Senate Republicans’ energy package, theranking Democrat on the Senate Energy and Natural ResourcesCommittee plans to introduce his own comprehensive energylegislation either later this week or early next week, according toa spokeswoman.
Senate Republicans to Unveil Energy Bill Soon
With the nation’s attention squarely focused on energy, SenateRepublican leaders are expected to introduce comprehensive energylegislation very soon to tackle the price and supply problems thatare gripping the country.
