NYMEX ClearPort
From MarketsWiki
| This page is not complete! |
| Do you have knowledge to contribute on this or other subjects?
Help the wiki grow -- add what you know. |
The New York Mercantile Exchange ClearPort technology network is an Internet-based system that provides a gateway to both trading and clearing services.
The system lets market participants take advantage of NYMEX's clearinghouse and around-the-clock access to more than 260 energy futures contracts including natural gas location differentials; electricity, crude oil spreads and outright transactions; refined product crack and location spreads and outright transactions; and coal.
| This page needs a sponsor. |
| Put your logo here! |
| Email us for information on how to support MarketsWiki. |
NYMEX ClearPort Clearing provides traders an interface where transactions are posted, margin requirements are calculated, and the transactions are processed by the clearinghouse in the same manner as the NYMEX Division futures contracts. Commonly traded, financially settled contracts for Henry Hub natural gas, natural gas basis, refined products, refined products spreads, crude oil, a crude oil spread, and electricity that are available for trading on NYMEX ClearPort. Trading can also be traded off of the exchange and submitted for clearing through NYMEX ClearPort Clearing as an exchange of futures for physicals (EFP) or exchange of futures for swaps (EFS).
Market participants can either trade these derivatives through the NYMEX ClearPort trading system or, again, conduct their own transactions off-exchange, negotiate their own prices, and still take advantage of the exchange clearinghouse by submitting the transactions through NYMEX ClearPort clearing.
NYMEX ClearPort is an open system. This means that trading firms can customize their front-end software to meet their specific trading requirements. The system lets commercial traders quote transactions in standard commercial units - such as barrels or British thermal units - while converting them to cleared contract equivalents. It uses enterprise-wide credit limits across both traded and cleared-only transactions to allow for efficient risk management. It also supports negatively priced contracts allowing the trading of location, quality and product differentials.
All market participants desiring to execute transactions on NYMEX ClearPort must first establish an account with an exchange clearing member firm.
