|
 |
Press Release |
|
|
Thursday, June 29, 2006
On June 7, 2006
Goldman, Sachs & Co. ("Goldman Sachs") announced that it intended to make
certain changes to the composition of the Goldman Sachs Commodity Index ("GSCI")
to respond to the transition from the New York Harbor Unleaded Gasoline ("HU")
futures contract to the Reformulated Gasoline Blendstock for Oxygen Blending
("RB") futures contract on the New York Mercantile Exchange. The
announcement indicated that Goldman Sachs intended to implement this
modification to the GSCI over the period from August to October, 2006, with
one-third of the portion of the GSCI attributable to the HU contract being
rolled into the RB contract during each of the months in that period.
Goldman Sachs today reaffirms that one third of the portion of the GSCI
attributable to the HU contract will, as announced on June 7th, be rolled into
the RB contract in August, 2006. However, in light of current market
conditions and the objectives outlined in the GSCI Manual, Goldman Sachs has
determined that it will make further announcements as to whether and the extent
to which, the remaining portion of the GSCI attributable to the HU contract will
be rolled into the RB contract. To facilitate the establishment of the
weights for the October GSCI futures contract, Goldman Sachs will make a further
announcement on or before July 13, 2006. To facilitate the establishment
of the weights for the November GSCI futures contract, Goldman Sachs will make
an additional announcement on or before August 9, 2006. Goldman Sachs will
continue to monitor market conditions and keep market participants apprised of
its intentions with respect to the GSCI and the gasoline futures market, and
will make additional announcements, as necessary or appropriate in connection
with any further developments.
|
|
|
|
|
