| Please Note: November Decommissioning of nymex.com |
Since CME Group completed its acquisition of NYMEX Holdings, Inc. in August 2008, the Exchange has been actively integrating NYMEX business operations. We are pleased to announce that internal work has been completed and we will now provide a single Web site containing valuable information on all of our products and services. The timing for decommissioning nymex.com is early November 2009. As we move closer to that timeframe, we will provide any updates to the timing.
Following the nymex.com decommissioning, your existing bookmarks will be redirected to the corresponding pages on cmegroup.com. Please remember to bookmark these new pages to easily find the information upon your return visit.
In addition to the information listed above, please note that the legacy NYMEX settlement file located at http://www.nymex.com/md_ewd.aspx will be migrating on October 30, to the same format as the CME Group standard settlement files, which can be found at http://www.cmegroup.com/market-data/settlements/. Until that time, the NYMEX and COMEX links will lead back to the existing nymex.com pages. To prepare for the impending change in settlement data display on cmegroup.com, please refer to any of the other products listed at http://www.cmegroup.com/market-data/settlements/ and use them as a template for the treatment of energy and metals settlement data after October 30.
View legacy NYMEX settlement file here
View CME Group standard settlement file here
The legacy NYMEX settlement files will be available until November 2, 2009. After that time, all settlement information will be provided in the CME Group standard settlement file.
We continue to seek your feedback on cmegroup.com. Here are a number of ways to reach us:
- Please send us comments and suggestions via the Feedback link at the top right corner of each web page on cmegroup.com.
- If you require navigation assistance for the Web site, please send an email to:
info@cmegroup.com
- Additionally, we invite you to participate in our user focus group program, CME Group: Idea Exchange, which will allow you to review functionality, participate in focus groups, and provide feedback on upcoming Web initiatives.
Join Now
For additional information, or answers to frequently asked questions, please visit our NYMEX decommissioning page on cmegroup.com
We appreciate your support as we move to a single Web site and continue to improve cmegroup.com to meet your needs.
|
| CME Group to Expand Emerging Markets Incentive Program |
CME Group, the world's largest and most diverse derivatives marketplace, today announced that it is expanding its Emerging Markets Incentive Program (EMIP) to provide clients in emerging markets with greater access to NYMEX products. The program will apply from 1 January, 2010 and run through December 31, 2010.
The EMIP will provide new traders at proprietary trading firms and trading arcades in emerging markets with the same fee incentives for electronically-traded NYMEX products as have applied to CME and CBOT products since February 2009. It will also continue to encourage the development of new traders at proprietary firms operating in countries currently not actively involved in global futures markets.
"The extension of the EMIP to NYMEX products reflects our continuing commitment to creating opportunities for traders in emerging economies. We want to enable more firms from these significant markets to access the full range of CME Group's risk management products, many for the first time," said Rick Redding, CME Group Managing Director, Products and Services. "Our objective of building liquidity around the clock, around the world for the benefit of all global customers will gain further momentum with this expanded program."
Customers who participate in the EMIP will be subject to minimum volume and application requirements.
Additional detail about CME Group incentive programs can be found on the CME Group Web site at www.cmegroup.com/incentives.
|
| CME Clearing to Accept Physical Gold as Collateral |
CME Clearing is introducing an enhancement to the existing Performance Bond Collateral schedule. Effective October 19, 2009, firms are now able to post physical gold to CME Clearing to cover non-segregated (NSEG) Performance Bond requirements. Initially, gold is posted to JP Morgan Chase Bank in London, England. In the near future, we hope to add additional depositories.
View further information here.
|
| Three New Petroleum Futures Contracts to Launch in November |
Please be advised that the Exchange will list three new financially settled petroleum futures contracts for trading on the New York trading floor and for submission for clearing through CME ClearPort. The contracts are listed with NYMEX, and are subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.
The trading floor contracts will be available as of 9:00 a.m. on Monday, November 02, 2009. The contracts will also be listed on CME ClearPort Clearing beginning at 6:00 p.m. on Sunday, November 1, for trade date Monday, November 02.
The new petroleum contracts, commodity codes and rule chapters are as follows:
Contract |
Code |
Rule Chapter |
Crude Oil Last Day Financial Futures |
26 |
828 |
Heating Oil Last Day Financial Futures |
23 |
829 |
RBOB Last Day Financial Futures |
27 |
830 |
The three products will be cash-settled. The first listed month for all products will be the December 2009 contract month. The crude oil contract will be listed for nine years forward using the following listing schedule: consecutive months are listed for the current year and the next five years; in addition, the June and December contract months are listed beyond the sixth year. Additional contract months will be added on an annual basis after the expiration of the December contract, so that (1) an additional June contract and December contract are added nine years forward, and (2) consecutive contract months in the sixth calendar year are filled in. With regard to the heating oil contract, consecutive contract months will be listed through August 2012. The RBOB contract will be listed for 36 consecutive contract months.
The fee schedule for the three new petroleum contracts is as follows:
The fees for the Crude Oil Last Day Financial Futures, Heating Oil Last Day Financial Futures, and RBOB Last Day Financial Futures contract (codes 26, 23, and 27) are: |
CME ClearPort Billing Rates |
NY Trading Floor Rates |
Cash Settlement Fee |
Member |
$0.85 |
Member |
$0.85 |
Member |
$0.85 |
Non-Member |
$1.35 |
Non-Member |
$1.35 |
Non-Member |
$1.35 |
|
|
Blended Floor Rate |
$1.10 |
|
|
Should you have any questions, please contact Daniel Brusstar at (212) 299-2604.
|
| New Listings: Options on Futures Strips for Natural Gas, Crude Oil, PJM Electricity, and Central Appalachian Coal |
Beginning on Sunday, November 1, 2009 for trade date Monday, November 2, 2009, Exchange will dually list for trading on the New York trading floor and for clearing through CME ClearPort seven new option contracts on underlying calendar futures strips. The option contracts are European-style (no early expiration). They are listed with NYMEX, and are subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.
Contract Specifications
OPTION CLASSIFICATION
European-style Option (Exercise on expiration day only).
RULE CHAPTERS, CODES AND SYNTHETICS
Contract |
Chapter |
Option Commodity Code |
Non-Tradeable Synthetic Futures Symbol |
Natural Gas Option On Calendar Futures Strip |
351 |
6J |
8P |
Natural Gas Option On Summer Futures Strip |
352 |
4D |
8U |
Natural Gas Option On Winter Futures Strip |
353 |
6I |
8R |
Crude Oil Option on Calendar Futures Strip |
356 |
6F |
8S |
Crude Oil Option on Quarterly Futures Strip |
357 |
6E |
8T |
PJM Electricity Option on Calendar Futures Strip |
354 |
6O |
8U |
Central Appalachian Coal Option on Calendar
Futures Strip |
358 |
6M |
8Y |
EXERCISE INTO FUTURES
A call option will exercise into a strip of long futures at the strike price while a put option will exercise into a strip of short futures at the strike price. The underlying strips of futures are as follows:
Natural Gas Option On Calendar Futures Strip:
12 consecutive Natural Gas Swap (NN) contracts beginning with January of the underlying Calendar year.
Natural Gas Option On Summer Futures Strip:
7 consecutive Natural Gas Swap (NN) contracts beginning with April of the underlying Calendar year.
Natural Gas Option On Winter Futures Strip:
5 consecutive Natural Gas Swap (NN) contracts beginning with November of the underlying Calendar year.
Crude Oil Option On Calendar Futures Strip:
12 consecutive Crude Oil Calendar Swap (CS) contracts beginning with January of the underlying Calendar year.
Crude Oil Option On Quarterly Futures Strip:
3 consecutive Crude Oil Calendar Swap (CS) contracts beginning with the underlying month of the option contract.
PJM Electricity Option On Calendar Futures Strip:
12 consecutive PJM Interconnection LLC Swap (JM) contracts beginning with January of the underlying Calendar year.
Central Appalachian Coal Option On Calendar Futures Strip:
12 consecutive Central Appalachian Coal futures (QL) contracts beginning with January of the underlying Calendar year.
STRIKE PRICE INTERVALS
Natural Gas
Twenty strike prices in increments of $.0500 per MMBtu above and below the at-the-money strike price, for a total of at least 41 strike prices. Strike price boundaries are adjusted according to price movements of underlying futures contract.
Crude Oil
Twenty strike prices in increments of $.50 per barrel above and below the at-the-money strike price, for a total of at least 41 strike prices. Strike price boundaries are adjusted according to price movements of underlying futures contract.
PJM Electricity
Twenty strike prices in increments of $.50 per Megawatt hour (“MWh”) above and below the at-the-money strike price, for a total of at least 41 strike prices. Strike price boundaries are adjusted according to price movements of underlying futures contract.
Central Appalachian Coal
Twenty strike prices in increments of $.50 per ton above and below the at-the-money strike price, for a total of at least 41 strike prices. Strike price boundaries are adjusted according to price movements of underlying futures contract.
EXPIRATION DATE
Natural Gas
3 business days prior ("Quadultimate") to the expiration of the first underlying month of the Natural Gas futures contract in the strip.
Crude Oil
3 business days prior ("Quadultimate") to the first day of the delivery month of the first underlying month of the Crude Oil Calendar Swap (CS) contract in the strip.
PJM Electricity
2nd to last Friday of the month prior to the delivery month of the first underlying month of the PJM Interconnection LLC Swap (JM) contract in the strip.
Central Appalachian Coal
1st business day of the month prior to the delivery month of the first underlying month of the Central Appalachian Coal contract in the strip.
MINIMUM PRICE FLUCTUATION
Natural Gas |
Crude Oil |
PJM Electricity |
Central Appalachian Coal |
$.0001/MMBtu |
$.01/Barrel |
$.01/MWh |
$.01/Ton |
CONTRACT SIZE
Natural Gas Calendar Strip |
Natural Gas Summer Strip |
Natural Gas Winter Strip |
30,000 MMBtu (12 Months) |
17,500 MMBtu (7 Months) |
12,500 MMBtu (5 Months) |
Crude Oil Calendar Strip |
Crude Oil Quarterly Strip |
12,000 Barrels (12 Months) |
3,000 Barrels (3 Months) |
PJM Electricity Calendar Strip |
Approximately 10,200 to 10,240 MMBtu (12 Varying MMBtu Months) |
Central Appalachian Coal Calendar Strip |
18,600 tons |
TRADING MONTHS
The first listed contract month for the Calendar Futures Strips and Quarterly Futures Strips shall be the January 2010 contract month. The first listed contract month for the Summer Futures Strip shall be the April 2010 contract month. The first listed contract month for the Winter Futures Strip shall be the November 2010 contract month. Options on Futures Strips will be listed in accordance with the following schedule:
- Options on Calendar Futures Strips for PJM, Crude Oil, and Natural Gas will list 5 consecutive years.
- Options on Calendar Futures Strip for Central Appalachian Coal will list 4 consecutive years.
- Crude Oil Option on Quarterly Futures Strip will list the nearest 4 consecutive quarters.
- Natural Gas will have 1 Summer Strip and 1 Winter Strip.
FEE SCHEDULE
Natural Gas
(½ Turn) |
Member |
Cross Division (Blended) |
Non-Member |
CME ClearPort |
Calendar Strip: $1.25
Summer Strip: $0.75
Winter Strip: $0.50 |
|
Calendar Strip: $2.00
Summer Strip: $1.20
Winter Strip: $0.80 |
Open Outcry |
|
|
|
Day Trade |
Calendar Strip: $0.45
Summer Strip: $0.25
Winter Strip: $0.20 |
N/A |
N/A |
O/N Trade |
Calendar Strip: $1.25
Summer Strip: $0.75
Winter Strip: $0.50 |
Calendar Strip: $2.00
Summer Strip: $1.20
Winter Strip: $0.80 |
Calendar Strip: $2.00
Summer Strip: $1.20
Winter Strip: $0.80 |
|
|
|
|
EFS, EFP, Spreads, Strips and ex Pit trades are available at standard member and nonmember rates – no surcharges apply. No block trades acceptable. |
Crude Oil
(½ Turn) |
Member |
Cross Division (Blended) |
Non-Member |
CME ClearPort |
Calendar Strip: $5.00
Quarterly Strip: $1.25 |
|
Calendar Strip: $7.00
Quarterly Strip: $1.75 |
Open Outcry |
|
|
|
Day Trade |
Calendar Strip: $0.45
Quarterly Strip: $0.15 |
N/A |
N/A |
O/N Trade |
Calendar Strip: $5.00
Quarterly Strip: $1.25 |
Calendar Strip: $7.00
Quarterly Strip: $1.75 |
Calendar Strip: $7.00
Quarterly Strip: $1.75 |
|
|
|
|
EFS, EFP, Spreads, Strips and ex Pit trades are available at standard member and nonmember rates – no surcharges apply. No block trades acceptable. |
PJM Electricity
(½ Turn) |
Member |
Cross Division (Blended) |
Non-Member |
CME ClearPort |
Calendar Strip: $24.00 |
|
Calendar Strip: $24.00 |
Open Outcry |
|
|
|
Day Trade |
Calendar Strip: $24.00 |
N/A |
N/A |
O/N Trade |
Calendar Strip: $24.00 |
Calendar Strip: $24.00 |
Calendar Strip: $24.00 |
|
|
|
|
EFS, EFP, Spreads, Strips and ex Pit trades are available at standard member and nonmember rates – no surcharges apply. No block trades acceptable. |
Central Appalachian Coal
(½ Turn) |
Member |
Cross Division (Blended) |
Non-Member |
CME ClearPort |
Calendar Strip: $39.00 |
|
Calendar Strip: $45.00 |
Open Outcry |
|
|
|
Day Trade |
Calendar Strip: $39.00 |
N/A |
N/A |
O/N Trade |
Calendar Strip: $39.00 |
Calendar Strip: $45.00 |
Calendar Strip: $45.00 |
|
|
|
|
EFS, EFP, Spreads, Strips and ex Pit trades are available at standard member and nonmember rates – no surcharges apply. No block trades acceptable. |
All Commodities
Clearing Transaction |
Member/ Lessee |
Non-
Member |
House Account |
Customer Account |
Futures Resulting from Exercise and Assignment |
$0.40 |
$1.45 |
|
|
Option Exercise/Assignment Notice |
|
|
$0.40 |
$0.85 |
For additional information, please contact the Energy and Metals hotline at (212) 299-2301, email exchangeinformation@cmegroup.com or visit www.nymex.com.
|