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Trades can be submitted to the Exchange for clearing purposes via the
NYMEX ClearPort� Clearing website by your brokers, or by the
staff at the Exchange facilitation desk if your transactions are non-brokered.
Business hours for NYMEX ClearPort� Clearing services are 6:00
PM Sundays through 5:15 PM Fridays, New York time, with a 45-minute break
each day between 5:15 PM and 6:00 PM. |
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Submission of Trades |
- Trades are to be submitted by a broker, or by the staff at the Exchange
facilitation desk.
- As soon as trades are submitted on the behalf of principals, they
will receive notification of the trade submission.
- The clearing order is subjected to risk acceptance parameters (position
limits/ RAV limits) imposed by the clearing members authorizing the
two principals to submit trades for clearing.
- If a RAV check is rejected by the Exchange on any leg of a trade,
the clearing member(s) backing the trade are informed via the clearing
system. RAV and / or position limits will have to be adjusted before
the trade can be re-submitted via the web interface.
- A transaction is processed for clearing only if it clears the RAV
(credit limit) established by the respective clearing members for those
counterparties.
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| Rejected Clearing Orders |
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| If a clearing order received by the Exchange is considered invalid because
of faulty or incomplete data, or failure of RAV checks (including position
limits, if applicable), then the failed trade status will be reflected on
the trade blotter page of the NYMEX ClearPort� Clearing website.
Exchange staff will make a good faith effort to call the counterparties,
but may not be able to extend this courtesy on heavy business days. It is
recommended that users monitor the trade blotter, if they have access to
it. Clearing members will be notified of RAV and/ or position limit violations
via the existing RAV failure message. The account's RAV and/or position
limits will have to be adjusted before the trade can be re-submitted for
clearing. |
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