News Release

CME Group to Amend Heating Oil Futures Contract and Expand Listed Months

Wed Apr 11 2012

CHICAGO, April 11, 2012 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced it will amend its benchmark New York Harbor Heating Oil futures contract specifications, lowering its sulfur specifications to 15 parts per million (ppm) from 2,000 ppm and expand the listed months an additional three years beginning with its May 2013 contract. These contracts are listed by and subject to the rules of NYMEX.

"These revisions to our benchmark heating oil contract are reflective of customer feedback and our desire to help market participants make a smooth transition to new lower-sulfur diesel standards for heating oil ahead of changes in environmental regulations in the Northeastern U.S.," said Gary Morsches, Managing Director, Global Energy at CME Group. "Not only will these modifications be beneficial to our customers, they will enhance liquidity by establishing a forward market beyond the currently listed April 2013 contract."

Following the transition to lower sulfur specifications, the Heating Oil contract will serve as a dual-use price benchmark for both the heating oil and on-road diesel markets. It will also more closely match diesel specifications in international markets, including the European ultra-low sulfur diesel market.

Pending all relevant regulatory review periods, these amendments will be effective April 30.

As the world's leading and most diverse derivatives marketplace, CME Group ( is where the world comes to manage risk.  CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate.  CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago.  CME Group also operates CME Clearing, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.

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