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New York Mercantile Exchange to Amend Eastern Electricity Options Strike Price Rules

Date 18/02/1999

The New York Mercantile Exchange has received approval from the Commodity Futures Trading Commission to eliminate strike prices that are not divisible by USD5 above the USD125 level on its eastern electricity options contracts. These include the Entergy and Cinergy electricity options contracts as well as the Pennsylvania, New Jersey Maryland electricity options contract scheduled to be introduced on March 19. Since there is currently no open interest in any of the affected Cinergy and Entergy strike prices already listed, these strike prices will be delisted. By resolution, the Exchange board has also agreed to list strike prices of USD200, USD225, USD250, USD275, USD300, USD325 and USD350 for the July and August 1999 Cinergy and Entergy contracts, beginning on Thursday, February 25.