CME Group  
Introducing European Gasoil (ICE) Futures on CME Globex


On Monday, August 24, 2009, the Exchange will list a European Gasoil (ICE) futures contract for trading on the CME Globex electronic trading platform and for submission for clearing through CME ClearPort.

BENEFITS:
  • Tick size of $5 ($0.05 per metric ton) allows for flexibility executing cracks and spreads
  • Gain margin and capital efficiencies by hedging their risk to both European gasoil and Brent crude oil futures, along with the benchmark WTI and heating oil futures (receive a 70 percent reduction in initial margin), on a single exchange
CONTRACT HIGHLIGHTS:
  • 100 metric tons
  • Minimum price fluctuation shall be $0.05 per metric ton
  • Financially-settled
  • $4,000 outright margin
  • First listed month for this contract will be the October 2009 contract and listed for 36 consecutive months
  • CME Globex code = GLI
  • CME ClearPort code = 7F
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This contract is listed by NYMEX, and is subject to NYMEX and CME rules and regulations.


This new petroleum contract will be available on CME Globex from 5:00 p.m. Sunday until 4:15 p.m. Friday (Chicago time). There is a 45-minute halt in trading each day between 4:15 p.m. (current trade date) and 5:00 p.m. (next trade date).

The Exchange will allow exchange of futures for physical (EFP) and exchange of futures for swap (EFS) transactions to be submitted through CME ClearPort. The EFP and EFS transactions in this futures contract will be governed by the provisions of Exchange Rules 6.21 and 6.21A, respectively.


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FOR MORE INFORMATION ON EUROPEAN GASOIL (ICE) FUTURES, PLEASE CONTACT:


New York, Howard Hopkins +1 212 299 2351
Chicago, Angie DiCarlo +1 312 930 4515
London, Justin Bozzino + 44 207 796 7132
Singapore, George Ng + 65 6322 8596
CONTRACT SPECS:

712.01 Scope
The provisions of these rules shall apply to all contracts bought or sold on the Exchange for cash settlement based on the Floating Price.

712.02 Floating Price
The Floating Price for the European Gasoil (ICE) Futures contract is the ICE Gasoil Futures 1st nearby contract settlement price that is determined during the contract month.

712.03 Contract Quantity and Value
The contract quantity shall be 100 metric tons. Each contract shall be valued as the contract quantity (100) multiplied by the settlement price.

712.04 Contract Listing Schedule
Trading shall be conducted in contracts in such duration as shall be determined by the Exchange.

712.05 Prices and Fluctuations
Prices shall be quoted in U.S. dollars and cents per metric ton. The minimum price fluctuation shall be $0.05 per metric ton. There shall be no maximum price fluctuation.

712.06 Termination of Trading
Trading shall cease one business day prior to the expiration of the ICE Gasoil Futures contract, i.e., the third business day prior to the fourteenth (14th) calendar day of the delivery month.

712.07 Final Settlement
Delivery under the contract shall be by cash settlement. Final settlement, following termination of trading, will be based on the ICE Gasoil Futures 1st nearby contract settlement price.

712.08 Exchange of Futures for, or in Connection with, Product and Exchange of Futures for, or in Connection with, Swap Transactions
Any Exchange of Futures for, or in connection with, Product (EFP) or Exchange of Futures for, or in connection with, Swap (EFS) transactions shall be governed by the provisions of Rules 6.21 and 6.21A, respectively.

FEE SCHEDULE:

CME Globex Billing Rates
Day Trade: $0.35
Overnight Trade:
Member: $0.60 - Non-Member: $0.75

CME Globex – IIP Rate: $0.70
COMEX Blended Rate: $0.75

CME ClearPort Clearing Billing Rates
Member: $0.60
Non-Member: $0.75

Cash Settlement Fee
Member: $0.60
Non-Member: $0.75