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Re: [RT] Natural Gas Contracts

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Ira,
 
These are NYMEX contracts traded on Globex exclusively. The HH is supposed to be the electronic equivalent of the NG pit contract. Come right up on my IB. Also WS is the electronic version of the LC contract. They also have gasoline, heating oil, and a spread between NG and electricity. A few months ago the only electronic NYMEX contracts were mini's with only one month active. The new contracts are listed for several years out just like the pit traded contracts. I have the WS, HH, and HP contracts loaded in my TWS and am watching them for now.
 
I remember years ago when the futures exchanges were all fighting doing anything electronic and the only way the electronic brokers could handle orders was to link to the pit. Now all are going electronic. Grains have been on ECBOT nights only but going days too on August 1. About the only contracts which seem to be unavailable on the electronic exchanges are the softs.
 
Earl
 
 
----- Original Message -----
From: Ira
Sent: Tuesday, July 18, 2006 6:27 PM
Subject: Re: [RT] Natural Gas Contracts

I checked DTN and they don't have those symbols listed under the NYMEX.  do you think they are traded on the comex or cme globlex function.  I don't have time to check right now.
 
Thanks, Ira.
----- Original Message -----
From: EAdamy
Sent: Tuesday, July 18, 2006 1:49 PM
Subject: [RT] Natural Gas Contracts

I'm researching the new NG contracts traded on Globex. Information on the NYMEX website describes the two contracts:
 
Two financially-settled natural gas (HH & HP) contracts are available for trading on the CME Globex® system. The HH contract settles on the same date as the physically-delivered NG contract and HP is a penultimate contract. Both contracts are listed for 72 months.
  • HP: Trading terminates at the close of business four business days prior to the first calendar day of the delivery month.
  • HH: Trading terminates at the close of business three business days prior to the first calendar day of the delivery month.
I don't understand why there are two contracts which settle a day a part nor do I understand which will have the greatest liquidity. "Penultimate" is defined on M-W as "next to the last". I'd like to understand what I'm trading and I'm confused. Can anyone here help? 
 
Earl

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