www.amex.com/amextrader
On Monday, April 21, 2008, the American Stock Exchange ("Amex" or "Exchange") will begin trading options on the Amex Mini-Natural Gas Index (MNG), which is based on one-tenth the value of the Amex Natural Gas Index (XNG). The position and exercise limit for XNG is 31,500 contracts on the same side of the market, and such limits for MNG will be 315,000 contracts - ten times as high.
The purpose of this Notice is to advise members and member organizations that positions in XNG and MNG will need to be aggregated in determining position and exercise limits, with ten MNG contracts equaling one XNG contract. For example, a member with a position of long 30,000 XNG calls and long 10,000 MNG calls (the latter being equivalent to 1,000 XNG calls) would have an aggregate position equivalent to long 31,000 XNG calls. A similar equivalence calculation would be performed to ascertain compliance with exercise limits for these two products.
Please direct any questions on this Notice to Rick Farber at 212-306-5310.