| Notice to Members | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notice No. 355 09/29/2004 |
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| New European and Gulf Coast Products Contracts on NYMEX ClearPort(sm) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| The New York Mercantile Exchange, Inc. announced that it will introduce trading
in thirteen European-based futures contracts and three additional Gulf Coast
petroleum products futures contracts.
Many of the specifications of these instruments are based upon swap products regularly transacted in OTC swaps markets. The chapters containing the terms and condition product specification rules for each of the new futures contracts will be available shortly in the Exchange’s online rulebook. The final settlement prices for the last day of trading for each of these new contracts will be based on prices reported by Platts. These new futures contracts will be listed both on NYMEX ClearPortsm Trading and on NYMEX ClearPortsm Clearing, beginning with the Exchange’s Monday, October 4, 2004 business day, which commences with the start of the NYMEX ClearPortsm trading session at 7:00 PM on Sunday, October 3, 2004. Each of these new futures contracts will be available during the normal trading hours on NYMEX ClearPortsm Trading. All sixteen contracts are calendar month instruments and are cash settled based on the monthly average of Platts quotations for each contract. These contracts will be listed for 36 consecutive months, and will be available for trading on NYMEX ClearPortsm Trading (CPT) or for submission solely for clearing as off-exchange transactions through NYMEX ClearPortsm Clearing (CPC). Margins and position limits will be announced in a separate notice. The three Gulf Coast futures contracts are as follows:
The contract size for the Gulf Coast calendar swap futures contracts is 42.000 gallons (or 1,000 barrels) and the minimum tick size is $.0001 cents per gallon. The fees for the Gulf Coast Calendar swap futures contracts are as follows:
The thirteen European futures Contracts are as follows:
The contract size for the European futures contracts is 1,000 metric tons and the minimum tick size is $0.25 per metric ton. Fees for the European futures contracts are as follows:
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| Should you have any questions or require any further information, please contact exchangeinfo@nymex.com |