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e-miNY Energy Futures Contracts |
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 e-miNY Energy Futures
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Previously Featured Markets |
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Like some other exchanges, the NYMEX offers an electronically traded miniature version of its larger contracts. When the NYMEX first launched the crude oil e-miNY contract in June of 2002, interest and volume were thin. Over the last year or so, as its larger counterpart has broken volume records, the mini crude contract has found an increasing number of participants, and has become a viable, liquid, and very efficient market. We think that at some point the e-miNY products will be to the energy markets what the e-mini has become to the S&P futures market. Why people prefer the e-miNY:•» Size. Smaller size means smaller margin requirement. As the full sized crude oil contract flirts with $10,000 per contract at times, many would-be players are not able to participate.•» Execution. Many traders avoid trading the full size crude oil contracts as the NYMEX open-outcry system is often quite slow in responding to orders. In fast markets many retail traders can often find themselves waiting a few minutes before their fill is reported while e-miNY fills are nearly instantaneous.•» Cost. Electronic products do not have the brokerage fees that are associated with open-outcry products. -If you would like to talk to a broker about getting set up to trade the e-miNYs, please send us a message.
Specifications: CRUDE OIL e-miNY | Trading Unit |  | | 500 barrels. | | | Price Quotation | | | U.S. dollars and cents per barrel. | | | Trading Hours (All times are New York time) | | | Sun | 7:00 PM – 9:30 AM | | Mon – Thu | 10:00 AM – 2:30 PM
3:15 PM – 5:30 PM
6:00 PM – 9:30 AM | | Fri | 10:00 AM – 2:30 PM |
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| Trading Months | | | The first nearby month until the tenth-to-last day of trading in the contract, when the second nearby month is also listed. | | | Minimum Price Fluctuation | | | $0.025 (2.5¢) per barrel ($12.50 per contract). | | | Maximum Transaction Size | | | 50 contracts. | | | Last Trading Day | | | Trading terminates at the close of business on the business day prior to the termination of the light, sweet crude oil futures contract. | | | Settlement Type | | | Contracts are cash-settled, based upon the daily settlement price of the underlying primary futures contract. | | | Margin Requirements | | | Margins are required for open futures positions. | | | Trading Symbol | | | QM |
NATURAL GAS e-miNY | Trading Unit | | | 5,000 million British thermal units (mmBtu). | | | Price Quotation | | | U.S. dollars and cents per mmBtu. | | | Trading Hours (All times are New York time) | | | Sun | 7:00 PM – 9:30 AM | | Mon – Thu | 10:00 AM – 2:30 PM
3:15 PM – 5:30 PM
6:00 PM – 9:30 AM | | Fri | 10:00 AM – 2:30 PM |
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| Trading Months | | | The first nearby month until the tenth-to-last day of trading in the contract, when the second nearby is also listed. | | | Minimum Price Fluctuation | | | $0.005 (0.5¢) per mmBtu ($25.00 per contract). | | | Maximum Transaction Size | | | 50 contracts. | | | Last Trading Day | | | Trading terminates at the close of business on the business day prior to the termination of the Henry Hub natural gas futures contract. | | | Settlement Type | | | Contracts are cash-settled, based upon the daily settlement price of the underlying primary futures contract. | | | Margin Requirements | | | Margins are required for open futures positions. | | | Trading Symbol | | | QG |
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