• Launch of Argus Sour Crude Index ("ASCI") Financial Futures on CME Globex®, NYMEX Trading Floor and CME ClearPort®

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5088
      • Notice Date
      • 05 January 2010
      • Effective Date
      • 24 January 2010
    • Beginning on Sunday, January 24, 2010 for trade date Monday, January 25, 2010, the New York Mercantile Exchange, Inc. (“NYMEX”) will launch the Argus Sour Crude Index (“ASCI”) Financial Futures contract on CME Globex, the NYMEX trading floor and CME ClearPort. The contract is listed with NYMEX, and subject to, the rules and regulations of NYMEX and CME.

      The Argus Sour Crude Index (“ASCI”) Financial Futures contract will be cash-settled. The first listed month will be the March 2010 contract month.  The contract will be listed for 36 consecutive contract months.

      NYMEX will allow Exchange of Futures for Related Position (“EFRP”) transactions to be submitted through CME ClearPort pursuant to the provisions of Exchange Rule 538. 

      Title, Commodity Code and Rule Chapter

      Argus Sour Crude Index (“ASCI”) Financial Futures (Code A0 (A zero) / Rule Chapter 226)

      Contract Quantity

      1,000 barrels

      Tick Size

      The minimum price fluctuation shall be $0.01 per barrel.

      Floating Price

      The Floating Price for each contract month is equal to the outright index price from Argus Media for the Argus Sour Crude Index (“ASCI”) on the last trading day for the delivery month.

      Termination of Trading

      Trading shall cease at the close of trading one business prior to the last trading day of the Light Sweet Crude Oil Futures contract, i.e., the fourth business day prior to the twenty-fifth calendar day of the month preceding the delivery month. 

      Fee Schedule

        ClearPort Billing Rates


      NY Trading Floor Rates


      Cash Settlement

      Member            $0.70


      Day Trade         $0.45

      Day Trade         $0.45

      Member            $0.70

      Non-Member     $1.45


      Member            $0.70

      Member            $0.70

      Non-Member     $1.45



      Non-Member     $1.45

      Non-Member     $1.45



      Cross Division $0.95

      Cross Division $0.95




      IIP Rate $0.75


      The chapter setting forth the terms and conditions of this contract will be available on the Exchange’s online rulebook. Margins and position limits will be announced in separate notices.

      For additional information, please contact Daniel Brusstar at 212-299-2604.