• Listing of Four (4) European Biodiesel Contracts on the NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6011
      • Notice Date
      • 11 November 2011
      • Effective Date
      • 20 November 2011
    • Effective Sunday, November 20, 2011, for trade date Monday November 21, 2011, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list four biodiesel futures 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:

       

      The contract specifications are as follows:

       

      Contract Title

      RME Biodiesel (Argus) fob Rdam (RED Compliant) Swap Future

      FAME 0 (Argus) Biodiesel fob Rdam (RED Compliant) Swap Future

      RME Biodiesel (Argus) fob Rdam (RED Compliant) vs. ICE Gasoil Spread Swap Future

      FAME 0 Biodiesel (Argus) fob Rdam (RED Compliant) vs. ICE Gasoil Spread Swap Future

      Commodity Code

      RBF

      FBD

      BFR

      FBT

      Contract Size

      100 metric tons

      100 metric tons

      100 metric tons

      100 metric tons

      First Listed Month

      December 2011

      December 2011

      December 2011

      December 2011

      Listing Period

      24 consecutive months

      24 consecutive months

      24 consecutive months

      24 consecutive months

      Termination of Trading

      Trading shall cease on the last business day of the contract month.

      Trading shall cease on the last business day of the contract month.

      Trading shall cease on the last business day of the contract month.

      Trading shall cease on the last business day of the contract month.

      Minimum Price Intervals

      $0.001 per metric ton

      $0.001 per metric ton

      $0.001 per metric ton

      $0.001 per metric ton

      Value per Tick

      $0.10

      $0.10

      $0.10

      $0.10

      Settlement Tick

      $0.001

      $0.001

      $0.001

      $0.001

      Rule Chapter

      1149

      1147

      1150

      1148

       

       

       

      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).

       

      Trading and Clearing Fees:

       

      For the RME Biodiesel (Argus) fob Rdam (RED Compliant) Swap Future and the FAME 0 (Argus) Biodiesel fob Rdam (RED Compliant) Swap Future, fees are as follows:

       

      Exchange Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      n/a

      $0.85

      $1.10

      $1.35

       

      Globex

      n/a

      n/a

      n/a

      n/a

      n/a

      ClearPort

       

      $0.85

       

      $1.35

       
                 

      Other Processing Fees

       

      Additional Fees and Surcharges

       

      Member

      Non-Member

       

      EFS Surcharge

      n/a

      Cash Settlement

      $0.85

      $1.35

       

      Block Surcharge

      n/a

      Futures from E/A

      n/a

      n/a

       

      Facilitation Desk Fee

      $0.10

       

      House Acct

      Customer Acct

       

       

       

      Options E/A Notice

      n/a

      n/a

       

       

       

      Delivery Notice

      n/a

      n/a

       

       

       

                           

       

      For the RME Biodiesel (Argus) fob Rdam (RED Compliant) vs. ICE Gasoil Spread Swap Future and the FAME 0 Biodiesel (Argus) fob Rdam (RED Compliant) vs. ICE Gasoil Spread Swap Future, fees are as follows:

       

      Exchange Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      n/a

      $1.70

      $2.20

      $2.70

       

      Globex

      n/a

      n/a

      n/a

      n/a

      n/a

      ClearPort

       

      $1.70

       

      $2.70

       
                 

      Other Processing Fees

       

      Additional Fees and Surcharges

       

      Member

      Non-Member

       

      EFS Surcharge

      n/a

      Cash Settlement

      $1.70

      $2.70

       

      Block Surcharge

      n/a

      Futures from E/A

      n/a

      n/a

       

      Facilitation Desk Fee

      $0.10

       

      House Acct

      Customer Acct

       

       

       

      Options E/A Notice

      n/a

      n/a

       

       

       

      Delivery Notice

      n/a

      n/a

       

       

       

                           

       

       

      For more information please contact Richard Stevens at +44 20 3379 3790.