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Re: [RT] Natural Gas Contracts



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Earl:
 
When you find out I would love to have the information.  I hate trading the NYMEX and would love to trade their contracts on a legitimate market.
 
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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