Nymex

Front 1

Crude Oil

Back 1

FT: CL, OP: LO

Front 2

Natural Gas

Back 2

NG, ON

Front 3

Unleaded Gasoline

Back 3

HU, GO

Front 4

RBOB Gasoline

Back 4

RB, OB

Front 5

Heating Oil

Back 5

HO, OH

Front 6

PLatinum

Back 6

PL, PO

Front 7

Palladium

Back 7

PA

Front 8

Propane

Back 8

PN

Front 9

Gold

Back 9

GC, OG

Front 10

Silver

Back 10

SI, SO

Front 11

Copper

Back 11

HG, HX

Front 12

Aluminum

Back 12

AL, OA

Front 13

Crude Oil

Back 13

FT: CL, OP: LO

Front 14

Natural Gas

Back 14

NG, ON

Front 15

Unleaded Gasoline

Back 15

HU, GO

Front 16

RBOB Gasoline

Back 16

RB, OB

Front 17

Heating Oil

Back 17

HO, OH

Front 18

PLatinum

Back 18

PL, PO

Front 19

Palladium

Back 19

PA

Front 20

Propane

Back 20

PN

Front 21

Gold

Back 21

GC, OG

Front 22

Silver

Back 22

SI, SO

Front 23

Copper

Back 23

HG, HX

Front 24

Aluminum

Back 24

AL, OA

Front 25

January

Back 25

F

Front 26

February

Back 26

G

Front 27

March

Back 27

H

Front 28

April

Back 28

J

Front 29

May

Back 29

K

Front 30

June

Back 30

M

Front 31

July

Back 31

N

Front 32

August

Back 32

Q

Front 33

September

Back 33

U

Front 34

October

Back 34

V

Front 35

November

Back 35

X

Front 36

December

Back 36

Z

Front 37

On the NYMEX, how does the market open?

Back 37

One contract month at a time, establishes an open range

Front 38

On the NYMEX, how does the market close?

Back 38

Last 2 minutes of the trading day, all months close simultaneously, settlement price is determined by open interest and average weighted price

Front 39

On the NYMEX, how does the market post close?

Back 39

Within 15 minutes of the close, 2 minutes long, orders must be re-written or re-stamped. On last day of the business week, the post close session is 5 minutes

Front 40

What is open interest?

Back 40

Open interest is the sum of all open positions in the contract

Front 41

On the COMEX, what is the pre-opening indicator?

Back 41

Begins 1 minute before the market opens and lasts one minute, bids and offers are announced but no trading occurs, ensures an orderly opening

Front 42

On the COMEX, how does the market open?

Back 42

All months open simultaneously

Front 43

On the COMEX, how does the market close?

Back 43

Last mintue of the trading day, all months close simultaneously, settlement price is determined

Front 44

On the COMEX, how does the market post settlement?

Back 44

within 15 mintues of the close, 3 minutes long, seperate trading cards are used and orders must be re-written or re-stamped

Front 45

What are the 5 contract criteria?

Back 45

Commodity, Quantity, Quality, Month of delivery, place of delivery

Front 46

explain a market order

Back 46

should be executed immediately at the current market price, entered at any time regardless of the current market price. Symbol: ____ or MKT

Front 47

Explain a limit order

Back 47

trade is executed at stated price limit or better. Buy limits are entered below the market; sell limits aboe the market. Symbol; states price limit w/ OB

Front 48

Explain market if touched order

Back 48

entered like a limit order; becomes a market order when the market trades at or through the stated price. Buy MIT's are entered below the market; sell limits above the market. Symbol; MIT after the price

Front 49

explain a stop order

Back 49

Used to open or close a position becomes a market order trades at or thourgh the market price. Buy stops above the market; sell stops are placed below the market. Symbol; an x inside a circle after the price or STP

Front 50

explain a stop limit order

Back 50

similiar to a stop, but becomes a limit order when the market trades at or through the stop price. Cannot always be filled because the market may trade through the limit price.Symbol;an x inside a circle w/ LMT after the price

Front 51

explain a not held order

Back 51

Any type of order, trader uses his own discretion while executing the order. Not held to the prices on the wall board. Trader cannot trade a contract for himself until the customers NH order is filled.Symbol; NH or DISC after price

Front 52

explain market on close

Back 52

An order that is executed as a market order during the close. Symbol; MOC

Front 53

NYMEX:Crude oil contract specifications

Back 53

1000 brls, min tick $.01 per barrel, price per tick $10

Front 54

NYMEX:Natural Gas contract specifications

Back 54

10,000 MMBtu, min tick $.001 per MMBtu, price per tick $10

Front 55

NYMEX:RBOB gasoline, unleaded gasoline, and heating oil contract specifications

Back 55

42,000 gallons, min tick $.0001 per gallon, price per tick $4.20 per gallon

Front 56

NYMEX:Platinum contract specifications

Back 56

50 troy oz, min tick $.10 per troy oz, price per tick $5

Front 57

NYMEX:Palladium contract specifications

Back 57

100 troy oz, min tick $.05, price per tick $5

Front 58

NYMEX:Propane contract specifications

Back 58

42,000 gallons, min tick $.0001, price per tick $4.20

Front 59

COMEX:Gold contract specifications

Back 59

100 troy oz, min tick $.10, price per tick $10

Front 60

COMEX:Silver contract specifications

Back 60

5,000 troy oz, min tick $.005 per oz, price per tick $25

Front 61

COMEX:Copper contract specs

Back 61

25,000 lbs, min tick $.0005 per lb, price per tick $12.50

Front 62

COMEX:Aluminum contract specs

Back 62

44,000 lbs, min tick $.0005 per lbs, price per tick $22.00

Front 63

Calculate the profit/loss of a trade

Back 63

Step 1: Sell price-Buy price = point difference. Step 2: Point difference/ Min tick=tick difference. Step 3: tick diff*number of lots*price per tick = Profit/loss

Front 64

It is the obligation of clerks to comply with by-laws, rules, board resolutions, and policies of the exchange

Back 64

True

Front 65

The exchange is not permitted to fine or exclude a clerk from the exchange floor if he/she is not wearing an identifiable clerk badge

Back 65

FALSE

Front 66

Members and firms are not responsible for the actions of their floor clerks.

Back 66

FALSE

Front 67

Telephone clerks may only recieve income from a single member or firm

Back 67

TRUE

Front 68

The four classifications of clerks on the trading floor are: Telephone, Screen ,Analyst/Point, and Runner.

Back 68

TRUE

Front 69

The following clothing is acceptable dress on the trading floor: skirts, dress shirts, slacks, blue jeans, hats, and well cared for sneakers.

Back 69

FALSE

Front 70

Smoking is strictly prohibited anywhere inside the NYMEX building

Back 70

TRUE

Front 71

Clerks are never permitted in the trading ring areas

Back 71

FALSE

Front 72

As long as clerks wear their floor ID badges looped around their necks, they can tuck their badge into their shirt or jacket pocket.

Back 72

FALSE

Front 73

Depending on the severity of the offense, a clerk's member or firm may be fined from $50 to $5,000 if they engage in unprofessional or unsafe horseplay or practical jokes.

Back 73

TRUE

Front 74

Members of the floor committee and certain exchange employees may fine a clerk no more than $5,000 for any rule violation.

Back 74

TRUE

Front 75

What are the matching parameters on the unmatched trade report?

Back 75

Broker/opposite broker, Quantity (Buy/Sell), Price/Premium, Month/Year, Commodity, Strike Price, Strike Type, Trade Type

Front 76

What are the trade type codes?

Back 76

R-Regular, 6-EFP, 8-As OF, S-Straddle, N-Conversion, C-Cabinet, 9-Cancellation, A-Matched order

Front 77

What are the OLTE Validation Codes?

Back 77

500000-599999: ACCESS, 600000-699999 Clearing Member Input, 700000-799999 Broker Input, 800000-899999 Allocation, 850000: Average Price

Front 78

What are the CTI Codes?

Back 78

1:Trades executed by a trader for his own account, 2: Trades exceuted for a member firm, 3:Trades exceuted for another trader's personal account, 4:All other customer orders that do not fit the first three catgories

Front 79

What is the difference between C and H?

Back 79

C represents trades executed for an account that is NOT affliated with the clearking member firm that is clearing the trade. H represents trades executed for an account that IS affliated with the Clearing Member Firm that is clearing the trade.

Front 80

What is an out right trade?

Back 80

A single legged trade

Front 81

What are the different spreads?

Back 81

Intra-commodity aka a calendar spread. Inter-commodity spread aka a crack spread.

Front 82

What is a cross trade?

Back 82

A cross trade is the simultaneous selling/buying of the same exact contracts

Front 83

What is EFP?

Back 83

Exchange for physical product for a futures position. negotiated post the exchange.

Front 84

What is EFS?

Back 84

Exchange For Swap of a futures position for an over-the-counter instrument.

Front 85

What is a strip?

Back 85

It is a simultaneous purchase or sale of the same commodity ina 2-24 consecutive month combination. Priced by either the average price or the differential from the previous day's settlement to today.

Front 86

What is a TAS?

Back 86

Trade at settlement (NYMEX only) only occurs in the spot month and is executed during the day.

Front 87

What are matching orders?

Back 87

COMEX only. Only in copper/aluminum, the trade is executed during the 29 minutes prior to the closing period but is entered at the settlement price.