Effective on Sunday, March 31, 2013 for trade date Monday, April 1, 2013, and pending all CFTC review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will amend the product title and the final settlement index for two (2) crude oil futures contracts to reference the WTI Midland price from Argus Media. The contract product title changes are: (1) WTI Midland (Argus) vs. WTI Financial Futures (chapter 856, commodity code FF) (formerly, WTS (Argus) vs. WTI Financial Futures); and (2) WTI Midland (Argus) Financial Futures (chapter 854, commodity code XB) (formerly, WTS (Argus) Financial Futures). These contracts will be listed for trading on the NYMEX trading floor, CME Globex and for submission for clearing through CME ClearPort. These rule amendments will be effective for the April 2013 contract month and beyond. The rule amendments appear below in black-line format.
(bold/underline indicates addition; strikethrough indicates deletion)
Chapter 856 (code FF)
856.02. FLOATING PRICE
The Floating Price for each contract month is equal to the arithmetic average of the differential of the WTI Midland
WTS (1st month) weighted average midpoint price from Argus Media minus the NYMEX Light Sweet Crude Oil Futures first nearby contract month settlement price for each business day that both are determined during the contract month.
Chapter 854 (code XB)
854.02. FLOATING PRICE
The Floating Price for each contract month is equal to the arithmetic average of the WTI Midland
WTS (1st month) weighted average midpoint price from Argus Media for each business day that it is determined during the contract month.
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Research and Product Development
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