Nymex to clear OTC average-price options

The New York Mercantile Exchange (Nymex) has received permission from the Commodity Futures Trading Commission to clear a number of over-the-counter mid-price commodity options.

Nymex has no scheduled go-live date for the new clearing service for average-price options, based on a number of energy products such as natural gas and crude oil. But a Nymex spokeswoman said a number of options should be cleared via Nymex's Clearport system within the next couple of months.

Nymex has offered a clearing service for about 60 futures contracts since May 2002. This provides counterparties with protection against the credit risk inherent in such contracts.

“By broadening our array of financial instruments, we are able to come another step closer to offering the energy industry a single, efficient and comprehensive source for all its trading and risk management needs,” said Nymex president Robert Collins.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here