Please be advised that beginning on Sunday, July 19 2009, for trade date Monday, July 20, 2009, the New York Mercantile Exchange, Inc. (“NYMEX” or the “Exchange”) will list six new physically-delivered natural gas liquid (NGL) futures contracts for trading and for submission for clearing on CME ClearPort, a set of flexible clearing services open to over the counter (OTC) market participants to substantially mitigate counterparty risk and provide capital efficiencies across asset classes. These contracts are listed by NYMEX, and are subject to NYMEX rules and regulations.
The six new physically-delivered NGLs, commodity codes and rule chapters are as follows:
New Contracts Code Chapter
Mont Belvieu Physical LDH Propane (OPIS) Futures 3N 365
Mont Belvieu Physical Non-LDH Propane (OPIS) Futures 3P 364
Mont Belvieu Physical Normal Butane (OPIS) Futures 3M 366
Mont Belvieu Physical Natural Gasoline (OPIS) Futures 3R 367
Mont Belvieu Physical Iso-Butane (OPIS) Futures 3L 368
Mont Belvieu Physical Ethane (OPIS) Futures 3Q 369
The LDH propane (3N) contract will be physically delivered at the LDH facility in Mont Belvieu, Texas. The Non-LDH propane contract as well as the other four (4) physical NGL contracts will be delivered at the Enterprise facility in Mont Belvieu, Texas.
The first listed month for these contracts will be the August 2009 contract month. The physical LDH propane (3N) and Non-LDH propane (3P) contracts will be listed for 48 consecutive months. The physical Normal Butane (3M), Natural Gasoline (3R), Iso-Butane (3L) and Ethane (3Q) contracts will be listed for 36 consecutive months.
The fees for the six (6) new contracts are:
CPT Billing rates: CPC Billing rates: Delivery Notice fee:
Member $0.85 Member $0.85 House $1.00
Non-Member $1.35 Non-Member $1.35 Customer $1.00
The block fees do not apply.
The six new physically-delivered NGLs will be available during normal trading hours on CME ClearPort. Electronic trading and clearing is conducted from 6:00 p.m. Sunday until 5:15 p.m. Friday (New York prevailing time). There is a 45-minute halt in trading each day between 5:15 p.m. (current trade date) and 6:00 p.m. (next trade date).
The Exchange will allow exchange of futures for physical (“EFP”) and exchange of futures for swap (“EFS”) transactions to be submitted through CME ClearPort® clearing. The EFP and EFS transactions in this futures contract will be governed by the provisions of Exchange Rules 6.21 and 6.21A, respectively.
For further information, please contact Daniel Brusstar at (212) 299-2604.
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.