Notice to Members
Notice No. 141 04/04/2005
Launch of Northwest Europe Gasoil Futures Contract in Dublin
The New York Mercantile Exchange, Inc. will launch the Northwest Europe gasoil futures contract in Dublin starting on Friday, April 8, 2005. The new contract will feature physical delivery of gasoil of 0.2% sulfur (similar to heating oil) in Amsterdam, Rotterdam, Antwerp (ARA). The contract will be listed for 18 consecutive months forward, starting with the May 2005 contract month. The regular trading hours will occur from 9:15 AM to 5:30 PM prevailing Dublin time, with after-hours electronic trading on the NYMEX ACCESS® system from 6:30 PM to 8:45 AM Dublin time (the Sunday NYMEX ACCESS® session will run from 12:00 Midnight until 8:45 AM Monday). The new gasoil contract (commodity code GR) will be 100 metric tons in size, with minimum tick size of $0.25 per ton. Trading in the front month terminates at 12 Noon on the second business day prior to the 14th calendar day of the delivery month. The Exchange will allow Exchange of Futures for Physical (EFP) and Exchange of Futures for Swaps (EFS) transactions. Trading at Settlement will also be allowed in the front two months. The chapters setting forth the terms and condition product specification rules for the new futures contract is available in the Exchange's online rulebook. Margins and position limits will be announced in separate follow-up notices. Fees The Exchange will waive fees for a period of at least three months. In addition, the Exchange will offer incentives and trading permits to encourage liquidity in the new contract.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com