• Listing of Three (3) Brent CFD Spread Contracts on the NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5965
      • Notice Date
      • 06 October 2011
      • Effective Date
      • 16 October 2011
    • Effective Sunday, October 16, 2011, for trade date Monday October 17, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list three petroleum contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. These futures contracts will be financially settled. The contracts are listed with, and subject to, the rules and regulations of NYMEX.

      Contract Specifications:

      Contract Title

      Brent CFD (Platts) vs. Brent Front Month (Platts) Weekly Swap Futures

      Brent CFD (Platts) vs. Brent Second Month (Platts) Weekly Swap Futures

      Brent CFD (Platts) vs. Brent Third Month (Platts) Weekly Swap Futures

      Commodity Code

      CFA

      CFB

      CFC

      Contract Size

      1,000 barrels

      1,000 barrels

      1,000 barrels

      First Listed Contract

      Week ending 11 November 2011

      Week ending 21 October 2011

      Week ending 21 October 2011

      Listing Period

      The current calendar week and the next eight consecutive calendar weeks excluding weeks that have a Monday which is the 16th of the month or later.

      The current calendar week and the next eight consecutive calendar weeks.

      The current calendar week and the next eight consecutive calendar weeks.

      Termination of Trading

      The contract shall terminate at the close of trading on Friday of the contract week. If such Friday is a UK holiday, the contract will terminate on the UK business day immediately prior to the last Friday of the contract month unless such day is not an Exchange business day, in which case the contract shall terminate on the Exchange business day immediately prior.

      The contract shall terminate at the close of trading on Friday of the contract week. If such Friday is a UK holiday, the contract will terminate on the UK business day immediately prior to the last Friday of the contract month unless such day is not an Exchange business day, in which case the contract shall terminate on the Exchange business day immediately prior.

      The contract shall terminate at the close of trading on Friday of the contract week. If such Friday is a UK holiday, the contract will terminate on the UK business day immediately prior to the last Friday of the contract month unless such day is not an Exchange business day, in which case the contract shall terminate on the Exchange business day immediately prior.

      Minimum Price Intervals

      $0.001

      $0.001

      $0.001

      Value per Tick

      $1.00

      $1.00

       $1.00

      Settlement Tick

      $0.001

      $0.001

      $0.001

      Rule Chapter

      1144

      1145

      1146

       

      The Exchange will allow the exchange for related position (EFRP) transactions to be submitted through CME ClearPort.  EFRP transactions in these futures contracts will be governed by the provisions of Exchange Rule 538.

      Trading and Clearing Hours:

      CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).

      Open Outcry:    Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT).

      Fees:

      Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      n/a

      $0.85

      $1.05

      $1.25

       

      Globex

      n/a

      n/a

      n/a

      n/a

      n/a

      ClearPort

       

      $0.85

       

      $1.25

       

                 

      Processing Fees

           

       

      Member

      Non-Member

           

      Cash Settlement

      $0.85

      $1.25

       

      Futures from E/A

      n/a

      n/a

         

       

      House Acct

      Cust Acct

           

      Options E/A Notice

      n/a

      n/a

         

      Delivery Notice

      n/a

      n/a

         

       

       

             

      Additional Fees and Surcharges

             

      EFS Surcharge

      $0.00

       

      Block Surcharge

      $0.00

         

      Facilitation Desk Fee

      $0.20

       
                 
                 

      For more information please contact Richard Stevens at +44 203-379-3790 or Daniel Brusstar at 212-299-2604.