Notice to Members
Notice No. 438 09/27/2005
Launch of New York Harbor Gasoline Blendstock (RBOB) Futures on Monday, October 3
The New York Mercantile Exchange, Inc. will launch the New York Harbor Gasoline Blendstock (RBOB) Futures Contract starting on Monday, October 3, 2005. The new contract will feature physical delivery in the New York Harbor area of RBOB for blending with 10% Denatured Fuel Ethanol (92% Purity) as listed by the Colonial Pipeline for Fungible F grade. The new contract will be listed for 12 consecutive months on a rolling basis, starting with the January 2006 contract month. The RBOB Contract will trade open outcry in the same pit as the existing New York Harbor Unleaded Gasoline Contract, from 10:05 AM until 2:30 PM. The after-hours electronic trading on the NYMEX ACCESS® system will occur during the normal hours from 3:15 PM to 9:30 AM Mondays through Thursdays (the Sunday ACCESS® session will start at 7:00 PM). The new RBOB Contract (commodity code RB) will be 42,000 gallons (1,000 barrels) in size, with a minimum tick size of $.0001 dollars per gallon. The last trading day is the last business day of the month prior to the contract month. The Exchange will allow for Exchange of Futures for Physical (EFP). 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, reportable levels, and position limits will be announced in separate follow-up notices. The new contract will be self-certified shortly with the CFTC. The corresponding RBOB Options Contracts will be listed for trading one week later on Monday, October 10. Fees The fees will be identical to the fees for the existing New York Harbor Unleaded Gasoline Contract.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com