Notice to Members
Notice No. 124
03/07/2006
Ten New European Energy Futures Contracts - Large Trader Reporting Requirements, Expiration Position Limits, and All Month/Any One Month Position Accountability Levels
The New York Mercantile Exchange, Inc. will launch ten new European Energy Futures Contracts commencing Monday, March 13, 2006.

Contract Name Commodity Code
   
Crude Oil Swaps (2 Products)  
Brent Bullet Swap Contract BN
NYMEX Brent-WTI Bullet Swap Contract WN
   
Gasoil Related Swaps (6 Products)  
Gasoil Calendar Swap GX
European Gasoil 0.2 CIF MED Calendar Swap Contract GG
European Gasoil 10 PPM Rdam Barges Calendar Swap Contract GT
European ULSD 50 PPM CIF NWE Calendar Swap ES
European ULSD 50 PPM CIF MED Calendar Swap Contract EH
European ULSD 50 PPM FOB MED Calendar Swap Contract EL
   
Residual Fuel Oil Crack Swaps (2 Products)  
3.5% Fuel Oil (Rdam) v. 3.5% FOB MED Spread Swap FK
3.5% Fuel Oil FOB MED Crack Spread Swap Contract  FL

The accountability levels, pursuant to NYMEX Rule 9.26 (All Month/Any One Month Position Accountability), and expiration position limits, pursuant to NYMEX Rule 9.27 (Expiration and Current Delivery Month Position Limits or Position Accountability), for the above contracts are as follows:

*Any One Month/All Months Net Futures or Futures- Equivalent Position Accountability Levels

Crude Oil Swaps (2 Products) Accountability Level
Brent Bullet Swap Contract *
NYMEX Brent-WTI Bullet Swap Contract *


*The following Crude Oil related swap contracts are aggregated for purposes of Position Accountability:

The WTI leg of the NYMEX Brent-WTI Bullet Swap Contract (WN) will be aggregated with the Light “Sweet” Crude Oil Futures Contract (CL) = 20,000 Contracts

The Brent Bullet Swap Contract (BN) will be aggregated with the Brent Crude leg of the NYMEX Brent-WTI Bullet Swap Contract (WN) = 20,000 Contract

Gasoil Related Swaps (6 Products) Accountability Level
Gasoil Calendar Swap = 7,000 Contracts
European Gasoil 0.2 CIF MED Calendar Swap Contract *
European Gasoil 10 PPM Rdam Barges Calendar Swap Contract *
European ULSD 50 PPM CIF NWE Calendar Swap *
European ULSD 50 PPM CIF MED Calendar Swap Contract *
European ULSD 50 PPM FOB MED Calendar Swap Contract *
*The following Gasoil related Swap contracts are aggregated for purposes of Position Accountability levels:
 
The Gasoil Calendar Swap (GX) will be aggregated with the ICE Gasoil leg of the Gasoil Crack Spread Calendar Swap (GZ), European Gasoil 0.2 Rdam Barges vs. ICE Gasoil Swap (EI), European Gasoil 0.2 NWE Cargoes vs. ICE Gasoil Swap (EC), European Gasoil 0.2 CIF Med vs. ICE Gasoil Swap Contract (EX), European Gasoil 0.2 FOB Med vs. ICE Gasoil Swap Contract (EF), European Gasoil 10 PPM Rdam Barges vs. ICE Gasoil Swap Contract (ET), European ULSD 50 PPM CIF NWE vs. ICE Gasoil Swap (EY), European ULSD 50 PPM CIF NWE vs. ICE Gasoil Swap (EE), European ULSD 50 PPM FOB Med vs. ICE Gasoil Swap Contract (EO), Jet CIF NWE vs. ICE Gasoil Swap Contract (JC), Jet Rdam Barges vs. ICE Gasoil Swap Contract (JR), Gasoil Arb: Singapore Gasoil vs. ICE Gasoil Swap Contract (GA), and Heating Oil Arb Swap: NYMEX Heating Oil v. ICE Gasoil (HA)
= 7,000 Contracts
 
The European Gasoil 0.2 CIF MED Calendar Swap Contract (GG) will be aggregated with the European Gasoil 0.2 CIF MED leg of the European Gasoil 0.2 CIF MED vs. ICE Gasoil Swap Contract (EX)
= 5,000 Contracts
 
The European Gasoil 10 PPM Rdam Barges Calendar Swap Contract (GT) will be aggregated with the European Gasoil 10 PPM Rdam Barges leg of the European Gasoil 10 PPM Rdam Barges vs. ICE Gasoil Swap Contract (ET)
= 5,000 Contracts
 
The European ULSD 50 PPM CIF NWE Calendar Swap (ES) will be aggregated with the European ULSD 50 PPM CIF NWE leg of the European ULSD 50 PPM CIF NWE vs. ICE Gasoil Swap Contract (EY)
= 5,000 Contracts
 
The European ULSD 50 PPM CIF MED Calendar Swap Contract (EH) will be aggregated with the European ULSD 50 PPM CIF MED leg of the European ULSD 50 PPM CIF MED vs. ICE Gasoil Swap Contract (EE)
= 5,000 Contracts
 
The European ULSD 50 PPM FOB MED Calendar Swap Contract (EL) will be aggregated with the European ULSD 50 PPM FOB MED leg of the European ULSD 50 PPM FOB MED vs. ICE Gasoil Swap Contract (EO)
= 5,000 Contracts

Residual Fuel Oil Crack Swaps (2 Products) Accountability Level
3.5% Fuel Oil (Rdam) v. 3.5% FOB MED Spread Swap *
3.5% Fuel Oil FOB MED Crack Spread Swap Contract *

*The following Residual Fuel Oil related swap contracts are aggregated for purposes of Position Accountability levels:
 
The 3.5% Fuel Oil (Rdam) leg of the 3.5% Fuel Oil (Rdam) v. 3.5% FOB MED Spread Swap (FK) will be aggregated with the European 3.5% Fuel Oil Rotterdam Calendar Swap Contract (UV)
= 1,500 Contracts
 
The 3.5 % FOB MED leg of the 3.5% Fuel Oil (Rdam) v. 3.5% FOB MED Spread Swap (FK) and the 3.5% Fuel Oil FOB MED Crack Spread Swap Contract (FL) will be aggregated with the European 3.5 Fuel Oil MED (Mediterranean) Calendar Swap Contract (UI)
= 1,500 Contracts
 
The ICE Brent Crude Oil leg of the 3.5% Fuel Oil FOB MED Crack Spread Swap Contract (FL) and will be aggregated with the Brent Bullet Swap Contract (BB)
=20,000 Contracts

**Expiration Position Limits  
Crude Oil Swaps (2 Products) Expiration Limit
Brent Bullet Swap Contract = 2,000 Contracts
NYMEX Brent-WTI Bullet Swap Contract **
   
** The following Crude Oil related swap contracts are aggregated for purposes of Expiration Position limits:
 
The WTI leg of the NYMEX Brent-WTI Bullet Swap Contract (BN) will be aggregated with the Light “Sweet” Crude Oil Futures Contract (CL)
= 2,000 Contracts
 

**Expiration Position Limits  
Gasoil Related Swaps (6 Products) Expiration Limit
Gasoil Calendar Swap = 1,000 Contracts
European Gasoil 0.2 CIF MED Calendar Swap Contract **
European Gasoil 10 PPM Rdam Barges Calendar Swap Contract **
European ULSD 50 PPM CIF NWE Calendar Swap **
European ULSD 50 PPM CIF MED Calendar Swap Contract **
European ULSD 50 PPM FOB MED Calendar Swap Contract **
   
** The following Gasoil related swap contract legs are aggregated for purposes of Expiration Position limits:
 
The Gasoil Calendar Swap (GX) will be aggregated with the ICE Gasoil leg of the Gasoil Crack Spread Calendar Swap (GZ), European Gasoil 0.2 Rdam Barges vs. ICE Gasoil Swap (EI), European Gasoil 0.2 NWE Cargoes vs. ICE Gasoil Swap (EC), European Gasoil 0.2 CIF Med vs. ICE Gasoil Swap Contract (EX), European Gasoil 0.2 FOB Med vs. ICE Gasoil Swap Contract (EF), European Gasoil 10 PPM Rdam Barges vs. ICE Gasoil Swap Contract (ET), European ULSD 50 PPM CIF NWE vs. ICE Gasoil Swap (EY), European ULSD 50 PPM CIF NWE vs. ICE Gasoil Swap (EE), European ULSD 50 PPM FOB Med vs. ICE Gasoil Swap Contract (EO), Jet CIF NWE vs. ICE Gasoil Swap Contract (JC), Jet Rdam Barges vs. ICE Gasoil Swap Contract (JR), Gasoil Arb: Singapore Gasoil vs. ICE Gasoil Swap Contract (GA), and Heating Oil Arb Swap: NYMEX Heating Oil v. ICE Gasoil (HA)
= 1,000 Contracts
 
The European Gasoil 0.2 CIF MED Calendar Swap Contract (GG) will be aggregated with the European Gasoil 0.2 CIF MED leg of the European Gasoil 0.2 CIF MED vs. ICE Gasoil Swap Contract (EX)
= 500 Contracts
 
The European Gasoil 10 PPM Rdam Barges Calendar Swap Contract (GT) will be aggregated with the European Gasoil 10 PPM Rdam Barges leg of the European Gasoil 10 PPM Rdam Barges vs. ICE Gasoil Swap Contract (ET)
= 500 Contracts
 
The European ULSD 50 PPM CIF NWE Calendar Swap (ES) will be aggregated with the European ULSD 50 PPM CIF NWE leg of the European ULSD 50 PPM CIF NWE vs. ICE Gasoil Swap Contract (EY)
= 500 Contracts
 
The European ULSD 50 PPM CIF MED Calendar Swap Contract (EH) will be aggregated with the European ULSD 50 PPM CIF MED leg of the European ULSD 50 PPM CIF MED vs. ICE Gasoil Swap Contract (EE)
= 500 Contracts
 
The European ULSD 50 PPM FOB MED Calendar Swap Contract (EL) will be aggregated with the European ULSD 50 PPM FOB MED leg of the European ULSD 50 PPM FOB MED vs. ICE Gasoil Swap Contract (EO)
= 500 Contracts

Residual Fuel Oil Crack Swaps (2 Products) Expiration Limit
3.5% Fuel Oil (Rdam) vs. 3.5% FOB Med Spread Swap **
3.5% Fuel Oil FOB Med Crack Spread Swap Contract **


** The following Residual Fuel Oil related swap contract legs are aggregated for purposes of Expiration Position limits:

The 3.5% Fuel Oil (Rdam) leg of the 3.5% Fuel Oil (Rdam) v. 3.5% FOB Med Spread Swap (FK) will be aggregated with the European 3.5% Fuel Oil Rotterdam Calendar Swap Contract (UV) = 150 Contracts

The 3.5 % FOB MED leg of the 3.5% Fuel Oil (Rdam) v. 3.5% FOB MED Spread Swap (FK) and the 3.5% Fuel Oil FOB MED Crack Spread Swap Contract (FL) will be aggregated with the European 3.5 Fuel Oil MED (Mediterranean) Calendar Swap Contract (UI) = 150 Contracts

The ICE Brent Crude Oil leg of the 3.5% Fuel Oil FOB MED Crack Spread Swap Contract (FL) will be aggregated with the Brent Bullet Swap Contract (BB) = 2,000 Contracts

For the ten new European Energy Future contracts, the quantity fixed for filing reports pursuant to NYMEX Rule 9.33 (Position Reporting) is 25 contracts. If a customer controls or holds a position equal to, or greater than, 25 long or short in any one month in any of these contracts, then all the contracts, whether above the reportable level or not, shall be deemed reportable positions.

For the Clearing Members that file reports pursuant to NYMEX Rule 9.33 in a machine-readable format, the Exchange commodity codes for these additional products are as listed above.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com