Notice to Members
Notice No. 97 03/04/2005
Announcement of Launch of New Dated Brent Calendar Swap Futures on NYMEX ClearPort(sm)Trading and Clearing
The New York Mercantile Exchange, Inc. will be adding a new cash-settled swaps futures contract for Dated Brent for trading and/or clearing on the NYMEX ClearPortsm Trading (CPT) and Clearing systems (CPC). New Contract and Launch Date The new futures contract to be listed will be the Dated Brent Calendar Swap Futures contract (commodity code UB). This new contract is a calendar month instrument and is cash settled using the Platts quotation for Dated Brent. This new contract will be added to both ClearPortsm systems as of the start of the Monday, March 7 trade date, which will commence at 7:00 PM on Sunday, March 6, 2005. Listed Months and Contract Size The new Dated Brent Calendar Swap futures contract will be listed for 72 consecutive months, and the contract size is 1,000 barrels with minimum tick size of $.01 dollars per barrel. The chapters setting forth the terms and condition product specification rules for the new futures contract are available in the Exchange's online rulebook under Rule 647. Margins and position limits will be announced in separate follow-up notices. Fees The fees for the Dated Brent swap futures contract are as follows: Brent Calendar Swap CPT Billing rates: CPC Billing rates: Cash Settlement fee: Member $1.00 paid Member $0.85 Member $0.85 Non-Member $2.50 inclusive Non-Member $1.35 Non-Member $1.35
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com