• Revised Listing Schedule for NY ULSD Related Futures and Option Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5998R
      • Notice Date
      • 10 November 2011
      • Effective Date
      • 20 November 2011
    • Please be advised that the launch schedule for NY Ultra Low Sulfur Diesel (ULSD) futures and options will be revised, and will become effective Sunday, November 20, 2011, for trade date Monday, November 21, pending all relevant CFTC regulatory periods.  The slate of new products has changed, as listed below.  These new futures and options based on the NY Ultra Low Sulfur Diesel market will be listed for open outcry trading on the NYMEX trading floor and for submission for clearing through CME ClearPort.  The contracts are 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

      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 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. Chicago Time/CT).

      CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. 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.