08/23/2006
Additionally, please be advised that similar to the trading on CME GLOBEX® on the cash-settled look-alike contracts, trading in TAS in the physical contracts, whether on the trading floor or electronically on CME GLOBEX®, will be available at a differential to settlement price.
(Additions are in bold/italics; deletions are in
Rule 11G.30 - Trading at Settlement
Contracts Eligible for Trading at Settlement or "TAS" Transactions on GLOBEX®.
Until further notice, the Board has authorized the availability of Trading at Settlement transactions in such delivery months as specified by the Board for the following futures contracts available on GLOBEX.
Contracts available include:
Commodity Code on Globex® |
Name |
Cleared Product |
WST |
WTI Crude Oil Financial TAS | WS |
RTT |
RBOB Gasoline Financial TAS | RT |
BHT |
Heating Oil Financial TAS | BH |
HPT |
Natural Gas Financial TAS | HP |
HHT |
Natural Gas Financial (Last Day) TAS | HH |
BBT |
Brent Crude Oil Financial TAS | BB |
CLT |
Light Sweet Crude Oil TAS | CL |
HOT |
Heating Oil TAS | HO |
NGT |
Natural Gas TAS | NG |
HUT |
Unleaded Gasoline TAS | HU |
RBT |
RBOB Gasoline TAS | RB |
The front two (2) trading months of the products listed above shall be available for trading (except on the last trading day in the physically delivered contracts). Until further notice, the hours for trading shall be the hours that the applicable contracts are available for trading on GLOBEX®.
Rule 6.40B - Trading at Settlement (Pilot Program)
(A) Trading at Settlement Procedure. A floor member may enter into a transaction at the settlement price through open outcry with another floor member in any futures contract and delivery month specified in Section (C) of this rule. Any such trade (collectively referred to as a trading at settlement or "TAS") shall be made by open outcry no later than 2:30 p.m. New York Time or such other time as designated by the Board on that same trading day in the trading ring designated for trading in the particular contract.
(B) Prohibition on TAS Cross Trades. A Floor Member who has in hand buy and sell TAS orders of different principals for the same eligible commodity for future delivery in the same eligible delivery month shall not execute such orders directly between such principals. This prohibition does not apply to Brent Crude Oil and Gasoil futures contracts.
(C) Reporting and Recordation. All TAS transactions shall be identified as such on the executing member's trading records prepared in accordance with Rule 6.10 ("Reporting of Trades Executed on the Trading Floor").
(D) Transactions Eligible for Board Approval For Trading at Settlement Procedures.
The Board may, by resolution, authorize the execution of transactions in any or all of the futures contracts and delivery months specified below pursuant to the TAS order procedures set forth in this Rule 6.40B.
Futures Contract Delivery Month
Light Sweet Crude Oil Spot Month (except on the last trading day) and also Second Nearby Month
And also Second Nearby Month (e.g., calendar month following the Spot Month)
Heating Oil Spot Month (except on the last trading day) and also Second Nearby Month
Natural Gas Spot Month (except on the last trading day) and also Second Nearby Month
Unleaded Gasoline Spot Month (except on the last trading day) and also Second Nearby Month
RBOB Gasoline Spot Month (except on the last trading day) and also Second Nearby Month
(E) This pilot program shall expire on the following dates:
| Futures Contract | Expiration Date |
| Light Sweet Crude Oil | Extended until further notice |
| Heating Oil | Extended until further notice |
| Natural Gas | Extended until further notice |
| Unleaded Gasoline | Extended until further notice |
| RBOB Gasoline | Extended until further notice |