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Enron Mail |
Cc: legal <.taylor@enron.com<
Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: legal <.taylor@enron.com< X-From: Jones, Tana </O=ENRON/OU=NA/CN=RECIPIENTS/CN=TJONES< X-To: Arnold, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jarnold<, Quigley, Dutch </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dquigle< X-cc: Taylor, Mark E (Legal) </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mtaylo1< X-bcc: X-Folder: \TJONES (Non-Privileged)\Jones, Tana\Sent Items X-Origin: Jones-T X-FileName: TJONES (Non-Privileged).pst -----Original Message----- From: Exchange Information <Marketing@NYMEX.com<@ENRON Sent: Wednesday, October 31, 2001 9:50 AM To: Exchange Information Subject: (01-348) NYMEX ACCESS Order Entry Notice No. 01-348 October 31, 2001 To: All NYMEX Division Clearing Members All NYMEX ACCESS Electronic Traders All NYMEX Division Members From: J. Robert Collins, President Re: NYMEX ACCESS Order Entry NYMEX Rule 6.22, "Acceptance of Orders for Entry into NYMEX ACCESS ," specifies the requirements for placement of orders into the ACCESS system for all commodities (NYMEX and COMEX Divisions). A copy of the Rule is attached. Section (C) of this Rule, "Acceptance of Orders From Customers," specifically outlines the data necessary for input/placement of orders, while Section (D), "Order Recordation," sets forth the procedures for handling customer orders. All electronic traders are required to enter the correct account number and clearing member number for all transactions with the exception of multiple accounts. NYMEX Rule 6.22(E), "Special Requirements," governs the use of the "999" designation as it relates exclusively to multiple accounts. Compliance Staff has additionally allowed for use of the "999" or common holding account to be used on an "intra-session" basis for any account which had not been set up prior to or during the ACCESS session in progress. Use of the "999" or common holding account may only be engaged on a one-time basis for any account. Thus, if "999" is designated three times in one session related to three separate accounts for first time use of ACCESS , the "999" may never be subsequently designated for purposes of placing orders for any of the three accounts. Any misuse of the "999" or common holding account would constitute a violation of Rule 6.22(C). The ACCESS System has enhanced functionality regarding the input and storage of frequently used account numbers. Electronic trading or clearing member firms should contact the NYMEX Customer Service Center (the "NCSC") with any questions at (800) 438-8616. Any questions regarding the rule requirements cited above should be directed to Thomas LaSala, Vice President, Compliance, at (212) 299-2897, or David Schneiderman, Director, Trade Practice Surveillance, at (212) 299-2857. Rule 6.22. ACCEPTANCE OF ORDERS FOR ENTRY INTO NYMEX ACCESS (A) DEFINITIONS-for purposes of these Rules, the following words shall have the following definitions: (1) "Matching System"-The NYMEX ACCESS programs and database that accept, match and report executions of orders in NYMEX ACCESS . (2) "Strategy Pad"-The NYMEX ACCESS programs and database that may be used by Electronic Traders and NYMEX ACCESS Operators to store orders, trading strategies and other information, but that do not accept, match or report execution of orders into the Matching System. (B) No Clearing Member shall assign an account number that would accept the entry of orders into NYMEX ACCESS for, or on behalf of, a customer, unless such customer is first provided with an Electronic Trading and Order Routing Systems Disclosure Statement in a form approved by the Exchange. (C) ACCEPTANCE OF ORDERS FROM CUSTOMERS-No person or entity may accept an order for execution on NYMEX ACCESS unless the following information is received: (1) Commodity; (2) Contract Month; (3) Purchase or Sale; (4) Customer Account Number (or certification that the order is for multiple accounts to be later allocated); (5) Quantity; (6) Limit Price (except for stop, market discretion, MIT or market orders); (7) Clearing Member (or certification that the order is for multiple accounts to be later allocated); (8) Strike prices, put or call (for options); and (9) Any precondition for entry into the Matching System (i.e., stop, market discretion, MIT, stop limit). (D) ORDER RECORDATION-Immediately upon receipt, all customer orders for execution on NYMEX ACCESS must be (1) entered into the Matching System or Strategy Pad or, if such orders cannot be entered into the Matching System or Strategy Pad within one minute of receipt, they must be (2) recorded within one minute of receipt in non-erasable ink and time-stamped in accordance with Rule 6.18, and entered into the Matching System or Strategy Pad as soon as practicable. (E) SPECIAL REQUIREMENTS (1) For any order known to be an order for multiple accounts to be allocated after execution, the Electronic Trader's Account Number followed by the suffix "999" shall be entered in satisfaction of subsection (B)(4) of this Rule. Only a person with trading discretion over multiple accounts may place an order with a Member Firm, Electronic Trader or NYMEX ACCESS Operator to be allocated after execution. No Member Firm, Electronic Trader or NYMEX ACCESS Operator may accept an order for allocation after execution unless the Member Firm, Electronic Trader or NYMEX ACCESS Operator or their employer has on file a prior, written procedure for the systematic and non-preferential allocation of executions among accounts. The customer's actual Clearing Member and Customer Account Number must be provided no later than 8:30 a.m. following the NYMEX ACCESS trading session in which the transaction was executed. (2) No person may knowingly record false account number information in connection with any NYMEX ACCESS order. (3) Unless otherwise agreed, all orders received for execution on NYMEX ACCESS shall be deemed to be cancelled if not executed during the trading session for which they were received.
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