• Listing of Canadian Heavy Crude Oil (Net Energy) Index Average Price Option Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6005
      • Notice Date
      • 10 November 2011
      • Effective Date
      • 20 November 2011
    • Please be advised that effective Sunday, November 20, 2011, for trade date Monday, November 21, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list a new crude oil option contract, Canadian Heavy Crude Oil (Net Energy) Index Average Price Option, for open outcry trading and for clearing through CME ClearPort.  The contract is listed with NYMEX, and subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.

       

      SPECIFICATION SUMMARY:

      ·         Contract Name: Canadian Heavy Crude Oil (Net Energy) Index Average Price Option

      ·         Commodity Code: WCI

      ·         Chapter: 1151

      ·         Option Type: Financially settled, exercise only upon expiration

      ·         Underlying Futures: Canadian Heavy Crude Oil (Net Energy) Index Futures (WCC)

      ·         Contract Unit: 1,000 barrels

      ·         Expiration Date: Trading will cease along with the expiration of the underlying Canadian Heavy Crude Oil (Net Energy) Index Futures (WCC).

      ·         Minimum Price Fluctuation: $0.001 per barrel

      ·         Strike Price Intervals: $0.250 per barrel

      ·         First Listed Contract: Jan, 2012.

      ·         Listing Convention: 36 consecutive months.

      ·         Trading Hours:

      Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 p.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. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).

      ·         Fee Schedule:

      Exchange Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      NA

      $3.00

      $3.25

      $3.50

       

      Globex

      NA

      NA

      NA

      NA

      NA

      ClearPort

       

      $3.00

       

      $3.50

       
                 

      Processing Fees

           
       

      Member

      Non-Member

           

      Cash Settlement

      $3.00

      $3.50

       

      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

       
                   

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