SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested

Registered Entity Identifier Code (optional): 23-316

Organization: New York Mercantile Exchange, Inc. ("NYMEX")

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): July 17, 2023 Filing Description: Extension of the Henry Hub 

Strips Liquidity Provider Program

SPECIFY FILING TYPE 

Please note only ONE choice allowed per Submission.

Organization Rules and Rule Amendments

Certification § 40.6(a)

Approval § 40.5(a)

Notification § 40.6(d)

Advance Notice of SIDCO Rule Change § 40.10(a)

SIDCO Emergency Rule Change § 40.10(h)

Rule Numbers: Not Applicable

New Product Please note only ONE product per Submission.

Certification § 40.2(a) 

Certification Security Futures § 41.23(a)

Certification Swap Class § 40.2(d)

Approval § 40.3(a)

Approval Security Futures § 41.23(b)

Novel Derivative Product Notification § 40.12(a)

Swap Submission § 39.5

Official Product Name: 

Product Terms and Conditions (product related Rules and Rule Amendments)

Certification § 40.6(a) 

Certification Made Available to Trade Determination § 40.6(a)

Certification Security Futures § 41.24(a)

Delisting (No Open Interest) § 40.6(a) 

Approval § 40.5(a)

Approval Made Available to Trade Determination § 40.5(a)

Approval Security Futures § 41.24(c)

Approval Amendments to enumerated agricultural products § 40.4(a), § 40.5(a)

“Non-Material Agricultural Rule Change” § 40.4(b)(5)

Notification § 40.6(d)

Official Name(s) of Product(s) Affected: 

Rule Numbers: 
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

Christopher Bowen 

Managing Director and Chief Regulatory Counsel

Legal Department

July 17, 2023

VIA ELECTRONIC PORTAL

Christopher J. Kirkpatrick 

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

RE: Extension of the Henry Hub Strips Liquidity Provider Program 

NYMEX Submission No. 23-316

Dear Mr. Kirkpatrick:

New York Mercantile Exchange, Inc. (“NYMEX” or “Exchange”) hereby notifies the Commodity Futures Trading 

Commission (“CFTC” or “Commission”) of plans to extend the Henry Hub Strips Liquidity Provider Program

(“Program”) through July 31, 2024. The extension of the Program will become effective on August 1, 2023. All other 

terms remain unchanged.

Exhibit 1 sets forth the terms of the Program. Modifications appear below, with additions underlined and deletions 

overstruck.

NYMEX reviewed the designated contract market core principles as set forth in the Commodity Exchange Act 

(“CEA”). During the review, NYMEX staff identified the following Core Principles as potentially being impacted:

Monitoring of Trading, Execution of Transactions, Protection of Market Participants, Compliance with Rules,

Availability of General Information, and Recordkeeping.

The Program does not impact the Exchange’s ability to perform its trade practice and market surveillance obligations 

under the CEA. The Exchange’s market regulation staff will monitor trading in the Program’s products to prevent 

manipulative trading and market abuse. Additionally, NYMEX has implemented systems to track Program 

participants’ volume to ensure proper distribution of earned incentives. NYMEX will select participants based on the 

criteria set forth in Exhibit 1. Chapter 4 of the NYMEX rules includes prohibitions against fraudulent, non-competitive, 

unfair or abusive practices. All participants must execute a contractual agreement in which each participant will 

expressly agree to comply with and be subject to, applicable regulations and NYMEX rules. The Program is subject to 

the Exchange’s record retention policies which comply with the CEA. 

The Exchange certifies that the Program complies with the CEA and the regulations thereunder. There were no 

substantive opposing views to this Program.

The Exchange certifies that this submission has been concurrently posted on the Exchange’s website at 

http://www.cmegroup.com/market-regulation/rule-filings.html.

If you require any additional information regarding this submission, please e-mail 

CMEGSubmissionInquiry@cmegroup.com or contact Rachel Johnson at 312-466-4393 or via e-mail at 

Rachel.Johnson@cmegroup.com. Please reference our NYMEX Submission No. 23-316 in any related 

correspondence.

Sincerely,

/s/ Christopher Bowen

Managing Director and Chief Regulatory Counsel

Attachment: Exhibit 1
EXHIBIT 1

Henry Hub Strips Liquidity Provider Program

Program Purpose

The purpose of the Program is to incentivize higher levels of volume contribution in certain energy

products on the CME Globex® Platform (“Globex”). The resulting increase in central limit order book 

liquidity benefits all participant segments in the marketplace.

Product Scope 

Natural Gas (Henry Hub) Last-day Financial Futures (“HH”) and Henry Hub Natural Gas Futures (“NG”) 

that are traded on Globex (“Products”).

Eligible Participants

There is no limit to the number of participants in the Program. Participants may be NYMEX members or 

non-members.

Program Term

Start date is October 1, 2019. End date is July 31, 2023 July 31, 2024.

Hours

N/A

Incentives

Participants achieving certain volume levels in the Products, as determined by the Exchange, will receive 

predetermined incentives in the Products. 

Monitoring and Termination of Status

The Exchange shall monitor participants’ activity in the Products and retains the right to revoke participant 

status if it concludes from review that a participant no longer meets the requirements of the Program.