News Release

Dual Listing of Financially Settled Crude Oil, Brent Crude Oil, and Natural Gas Calendar Spread Options to Launch at CME Group on the New York Trading Floor and ClearPort Clearing

Wed Jan 07 2009

CHICAGO, Jan. 7 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, today announced that financially settled crude oil, Brent crude oil last day, and natural gas calendar spread options contracts will trade on the New York trading floor and ClearPort®, scheduled to begin January 25 for trade date January 26.

 

The new calendar spread options contracts and their commodity codes will be: crude oil one-month spread (7A); crude oil two-month spread (7B); crude oil three-month spread (7C); crude oil six-month spread(7M); crude oil 12-month spread (7Z); Brent crude oil last day one-month spread (9N); Brent crude oil last day two-month spread (9B); Brent crude oil last day three-month spread (9Q); Brent crude oil last day six-month spread (9L); Brent crude oil last day 12-month spread (9Y); natural gas one-month spread (G8); natural gas two-month spread (G9); natural gas three-month spread (H9); natural gas five-month spread (H8); natural gas six-month spread (H7); and natural gas 12-month spread (H6).

 

The minimum price fluctuation will be $0.01 per barrel for crude oil and Brent crude oil calendar spread options contracts and $0.001 per MMBtu for the natural gas calendar spread options contracts. The crude oil and Brent crude oil contracts will be 1,000 barrels in size and the natural gas contracts will be 10,000 MMBtu.

 

The crude oil contract will expire on the business day immediately prior to the termination of the first underlying month of the spread; the Brent crude oil contract will expire on the business day immediately prior to the termination of the first underlying Brent crude oil last day futures month of the spread; and the natural gas contract will expire on the business day immediately prior to the termination of the first underlying month of the spread.

 

For more information, please visit www.nymex.com.

 

CME Group (www.cmegroup.com) is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers $7 billion in financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME."

 

The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex and E-mini, are trademarks of Chicago Mercantile Exchange, Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX, New York Mercantile Exchange, and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at www.cmegroup.com.

CME-G

SOURCE: CME Group

Web site: http://www.cme.com/

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