Notice to Members
Notice No. 206
05/17/2005
Launch of Four Freight Swaps Contracts on NYMEX ClearPort®
The New York Mercantile Exchange, Inc. will launch four additional freight swaps contracts on NYMEX ClearPort® starting on Sunday evening, May 22, 2005 (for trade date starting Monday, May 23). These new contracts will be cash-settled based on calendar-month averages for tanker routes assessed by the Baltic Exchange, as follows:

Code
Name
Route Description
TM
Freight Route TC2 Swap
37,000 metric tons (mt) – Europe to USAC – Clean Freight
TL
Freight Route TD3 Swap
250,000 mt – Arab Gulf to Japan – Crude Oil Freight
TI
Freight Route TD5 Swap
130,000 mt – West Africa to USAC – Crude Oil Freight
TK
Freight Route TD7 Swap
80,000 mt – North Sea to Europe – Crude Oil Freight


These contracts are 1000 metric tons in size, and will be listed for 36 consecutive months forward, starting with the June 2005 contract month.

These three new contracts will be available during the normal trading hours on NYMEX ClearPortsm Trading and Clearing platform on Mondays through Thursdays from 3:15 PM to 2:30 PM the next day (New York time), and on Sundays from 7:00 PM to 2:30 PM Mondays (New York time).

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 fees (per side) for the freight swap futures contracts are as follows:

CPT Billing rates: CPC Billing rates: Cash Settlement fee:
Member $4.00 Member $4.00 Member $4.00
Non-member $5.00 Non-member $5.00 Non-member $5.00
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com