• Listing of NY ULSD Related Futures and Option Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5998
      • Notice Date
      • 04 November 2011
      • Effective Date
      • 13 November 2011
    • Please be advised that effective Sunday, November 13, 2011, for trade date Monday, November 14, 2011, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list 14 newfutures and 8 new options based on the NY Ultra Low Sulfur Diesel market, for open outcrytrading and for clearing through CME ClearPortThe contractsare listed with, and subject to, the rules and regulations of NYMEX.
      SUMMARY OF SPECIFICATIONS:
      ·         Futures contracts:

      CONTRACT NAME

       
      CHAPTER
      CODE
      CONTRACT UNIT
      MINIMUM PRICE FLUCTUATION
      EXPIRATION
      LISTING CONVENTION
      NY ULSD Crack Spread Swap Futures
      1157
      UCF
      1,000 barrels
      $0.001
      Last business day of the contract month
      Current year and next 4 years
      RBOB vs. NY ULSD Swap Futures
      1158
      RVU
      42,000 gallons
      $0.0001
      Last business day of the contract month
      Current year and next 4 years
      Gulf Coast ULSD (Platts) Up-Down vs. NY ULSD Swap Futures
      1159
      GUU
      42,000 gallons
      $0.0001
      Last business day of the contract month
      Current year and next 4 years
      Gulf Coast Jet (Platts) Up-Down vs. NY ULSD Swap Futures
      1160
      GJP
      42,000 gallons
      $0.0001
      Last business day of the contract month
      Current year and next 4 years
      Gulf Coast ULSD (Platts) Up-Down vs. NY ULSD BALMO Swap Futures
      1161
      GUB
      42,000 gallons
      $0.0001
      Last business day of the contract month
      One month and the following month listed 10 business days prior to the start of the contract month
      Gulf Coast Jet (Platts) Up-Down vs. NY ULSD Swap BALMO Futures
      1162
      GJB
      42,000 gallons
      $0.0001
      Last business day of the contract month
      One month and the following month listed 10 business days prior to the start of the contract month
      Gulf Coast ULSD (Argus) Up-Down vs. NY ULSD Swap Futures
      1163
      GAU
      42,000 gallons
      $0.0001
      Last business day of the contract month
      Current year and next 4 years
      Gulf Coast Jet (Argus) Up-Down vs. NY ULSD Swap Futures
      1164
      GJA
      42,000 gallons
      $0.0001
      Last business day of the contract month
      Current year and next 4 years
      Gulf Coast ULSD (Argus) Up-Down vs. NY ULSD BALMO Swap Futures
      1165
      GAB
      42,000 gallons
      $0.0001
      Last business day of the contract month
      One month and the following month listed 10 business days prior to the start of the contract month
      CONTRACT NAME
      CHAPTER
      CODE
      CONTRACT UNIT
      MINIMUM PRICE FLUCTUATION
      EXPIRATION
      LISTING CONVENTION
      Gulf Coast Jet (Argus) Up-Down vs. NY ULSD BALMO Swap Futures
      1166
      GJC
      42,000 gallons
      $0.0001
      Last business day of the contract month
      One month and the following month listed 10 business days prior to the start of the contract month
      NY ULSD Calendar Swap Futures
      1167
      USF
      42,000 gallons
      $0.0001
      Last business day of the contract month
      Current year and next 4 years
      NY ULSD BALMO Swap Futures
      1168
      UBS
      42,000 gallons
      $0.0001
      Last business day of the contract month
      One month and the following month listed 10 business days prior to the start of the contract month
      NY ULSD Last Day Financial Swap Futures
      1169
      ULF
      42,000 gallons
      $0.0001
      Last business day of the contract month
      Current year and next 4 years
      NY ULSD Crack Spread BALMO Swap Futures
      1174
      UBC
      1,000 barrels
      $0.001
      Last business day of the contract month
      One month and the following month listed 10 business days prior to the start of the contract month

       

      ·         Option Contracts:

      CONTRACT NAME

       
      CHAPTER
      CODE
      CONTRACT UNIT
      MINIMUM PRICE FLUCTUATION
      EXPIRATION
      LISTING CONVENTION
      STRIKE PRICE INTERVALS
      NY ULSD Average Price Option
      1170
      UAO
      42,000 gallons
      $0.0001
      Last business day of the contract month
      Current year and next 4 years
      $0.0001
      NY ULSD Calendar Spread Option
      1171
      UCA; UCB;UCC;UMM;UCZ
      42,000 gallons
      $0.0001
      Last business day of the contract month
      Current year and next 4 years
      $0.0001
      NY ULSD Crack Spread Option
      1172
      UCO
      1,000 barrels
      $0.01
      Last business day of the contract month
      Current year and next 4 years
      $0.25
      NY ULSD Crack Spread Average Price Option
      1173
      UCP
      1,000 barrels
      $0.001
      Last business day of the contract month
      Current year and next 4 years
      $0.25

       

       
      ·         Trading Hours:
      Open Outcry: Monday – Friday 9:00a.m. – 2:30 p.m. (8:00 p.m. – 1:30p.m.Chicago Time/CT).
      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).
       
      ·         Futures Contracts Fee Schedule:

      Exchange Fees For Futures Contracts

       
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      NA
      $0.85
      $1.10
      $1.35
       
      Globex
      NA
      NA
      NA
      NA
      NA
      ClearPort
       
      $0.85
       
      $1.35
       

       

       
                 

      Processing Fees

       
           
       
      Member
      Non-Member
           
      Cash Settlement
      $0.10
      $0.10
       
      Futures from E/A
      NA
      NA
         
       
      House Acct
      Cust Acct
           
      Options E/A Notice
      NA
      NA
         
      Delivery Notice
      NA
      NA
         
       
       
             
      Additional Fees and Surcharges
             
      EFS Surcharge
      NA
       
      Block Surcharge
      NA
         
      Facilitation Desk Fee
      $0.20
       
                   

       

      ·         Option Contracts Fee Schedule:
      1.     NY ULSD Average Price Option (Chapter: 1170; Code: UAO)
      2.     NY ULSD Crack Spread Average Price Option (Chapter: 1173; Code: UCP)

      Exchange Fees

       
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      $0.45
      $0.70
      $0.95
      $1.45
       
      Globex
      NA
      NA
      NA
      NA
      NA
      ClearPort
       
      $1.75
       
      $2.50
       
                 
      Processing Fees
      Additional Fees and Surcharges
       
      Member
      Non-Member
      EFS Surcharge
      NA
      Cash Settlement
      $0.10
      $0.10
      Block Surcharge
      NA
      Futures from E/A
      NA
      NA
      Facilitation Desk Fee
      $0.20
       
      House Acct
      Cust Acct
         
       
      Options E/A Notice
      NA
      NA
         
      Delivery Notice
      NA
      NA
         
                     

       

      3.     NY ULSD Calendar Spread Option (Chapter: 1171; Code: UCA, UCB, UCC, UMM, UCZ)
      4.     NY ULSD Crack Spread Option (Chapter: 1172; Code: UCO)

      Exchange Fees

       
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      $0.45
      $0.70
      $0.95
      $1.45
       
      Globex
      NA
      NA
      NA
      NA
      NA
      ClearPort
       
      $1.75
       
      $2.50
       
                 
      Processing Fees
      Additional Fees and Surcharges
       
      Member
      Non-Member
      EFS Surcharge
      NA
      Cash Settlement
      NA
      NA
      Block Surcharge
      NA
      Futures from E/A
      NA
      NA
      Facilitation Desk Fee
      $0.20
       
      House Acct
      Cust Acct
           
      Options E/A Notice
      $0.40
      $0.85
         
      Delivery Notice
      NA
      NA
         
                     

       

      For additional information, please contact Dan Brusstar at (212) 299-2604 or Robert Biolsi at (212) 299-2610.