02/03/2006
The NYMEX Europe miNY Brent Crude Oil Futures contract will be financially settled based upon the settlement prices of the underlying Brent Crude Oil Futures contract, with the last trading date and final settlement one business day prior to the termination date of the underlying Brent Crude Oil Futures contract. The Exchange will offer trading in 3 consecutive contract months.
These miNY futures contracts will be one-half the size of the floor traded contracts or 500 barrels. The tick size will be $0.025 or $12.50 per contract. The trading symbol is QB.
Launch procedure for NYMEX Europe miNY Brent Crude Oil Futures
The first futures contract month listed for trading will be the March 2006 futures contract. The second and third nearby contract months offered will be April 2006 and May 2006. The third nearby contract month will be listed for trading the business day following the expiration of the first contract month. Accordingly, once the March 2006 contract expires on 10 February, 2006, the June 2006 contract will be listed for trading on NYMEX Clearport® the following business day (i.e. 13 February, 2006).
The Exchange clearing fees:
The Exchange will charge $0.30 per contract half turn.
Relevant Exchange Rules
Please refer to the NYMEX Europe Exchange Rulebook Chapters 10.4 and 10.5 which provide the detailed contract specification for the new miNY Brent contract.