Notice to Members
Notice No. 91
02/17/2006
Twenty Five 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 twenty-five new European Energy Futures Contracts commencing Tuesday, February 21, 2006.
Contract Name Commodity Code
Crude Oil Swaps (11 Products)  
WTI Bullet Swap Contract WS
Brent Bullet Swap Contract BB
Dated to Frontline Brent Swap FY
Brent (ICE) Calendar Swap Contract CY
WTI-Brent (ICE) Bullet Swap Contract BY
WTI-Brent (ICE) Calendar Swap BK
Brent-Dubai Swap Contract DB
European Gasoil Crack Spread Swap GZ
European Argus Gasoline Crack Spread Swap Contract RG
European Platts Gasoline MED Crack Spread Swap EP
European Naphtha Crack Spread Swap EN
   
Gasoil Related Swaps (12 Products)  
European Gasoil 0.2 Rdam Barges vs. Gasoil Futures Swap EI
European Gasoil 0.2 CIF NWE vs. Gasoil Futures Swap EC
European Gasoil 0.2 CIF MED vs. Gasoil Futures Swap Contract EX
European Gasoil 0.2 FOB MED vs. Gasoil Futures Swap Contract EF
European Gasoil 10 PPM Rdam Barges vs. Gasoil Futures Swap Contract ET
European ULSD 50 PPM CIF NWE vs. Gasoil Futures Swap EY
European ULSD 50 PPM CIF MED vs. Gasoil Futures Swap Contract EE
European ULSD 50 PPM FOB MED vs. Gasoil Futures Swap Contract EO
Jet CIF NWE vs. Gasoil Futures Swap Contract JC
Jet Rdam Barges vs. Gasoil Futures Swap Contract JR
Singapore Gasoil vs. Rdam Gasoil Swap Contract GA
Heating Oil Arb Swap: NYMEX Heating Oil v. Rdam Gasoil HA
   
Residual Fuel Oil Crack Swaps (2 Products)  
3.5% Fuel Oil Rdam Crack Spread Swap FO
1% Fuel Oil NWE Crack Spread Swap Contract FI

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 (11 Products) Accountability Level
WTI Bullet Swap Contract *
Brent Bullet Swap Contract = 20,000 Contracts
Dated to Frontline Brent Swap *
Brent (ICE) Calendar Swap Contract *
WTI-Brent (ICE) Bullet Swap Contract *
WTI-Brent (ICE) Calendar Swap *
Brent-Dubai Swap Contract *
European Gasoil Crack Spread Swap = 7,000 Contracts *
European Argus Gasoline Crack Spread Swap Contract = 7,000 Contracts *
European Platts Gasoline MED Crack Spread Swap *
European Naphtha Crack Spread Swap *


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

The WTI legs of the WTI Bullet Swap Contract (WS), WTI-Brent (ICE) Bullet Swap Contract (BY) and WTI-Brent (ICE) Calendar Swap (BK) will be aggregated with the Light “Sweet” Crude Oil Futures Contract (CL) = 20,000 Contracts

The ICE Brent Crude legs of the Dated to Frontline Brent Swap (FY), WTI-Brent (ICE) Bullet Swap Contract (BY), WTI-Brent (ICE) Calendar Swap (BK), Brent (ICE) Calendar Swap Contract (CY), Brent- Dubai Swap Contract (DB), European Gasoil Crack Spread Swap (GZ), European Argus Gasoline Crack Spread Swap Contract (RG), European Platts Gasoline MED Crack Spread Swap (EP), European Naphtha Crack Spread Swap (EN), 3.5% Fuel Oil Rdam Crack Spread (FO) and the 1% Fuel Oil NWE Crack Spread Swap Contract (FI) will be aggregated with the Brent Bullet Swap Contract (BB) = 20,000 Contracts

The Dated Brent leg of the Dated to Frontline Brent Swap (FY) will be aggregated with the Dated Brent Calendar Swap Futures Contract (UB) = 5,000 Contracts

The Dubai leg of the Brent-Dubai Swap Contract (DB) will be aggregated with the NYMEX Dubai Calendar Swap (Platts) Contract (DC) = 10,000 Contracts

The European Platts Gasoline leg of the European Platts Gasoline MED Crack Spread Swap (EP) will be aggregated with the European MED Gasoline (Platts) Swap Contract Swap (EU). = 1,500

The European Naphtha leg of the European Naphtha Crack Spread Swap (EN) will be aggregated with the European Naphtha Calendar Swap Contract (UN). = 1,500 Contracts

Gasoil Related Swaps (12 Products) Accountability Level
European Gasoil 0.2 Rdam Barges vs. Gasoil Futures Swap *
European Gasoil 0.2 CIF NWE vs. Gasoil Futures Swap *
European Gasoil 0.2 CIF MED vs. Gasoil Futures Swap Contract = 5,000 Contracts
European Gasoil 0.2 FOB MED vs. Gasoil Futures Swap Contract *
European Gasoil 10 PPM Rdam Barges vs. Gasoil Futures Swap Contract = 5,000 Contracts
European ULSD 50 PPM CIF NWE vs. Gasoil Futures Swap = 5,000 Contracts
European ULSD 50 PPM CIF MED vs. Gasoil Futures Swap Contract = 5,000 Contracts
European ULSD 50 PPM FOB MED vs. Gasoil Futures Swap Contract = 5,000 Contracts
Jet CIF NWE vs. Gasoil Futures Swap Contract *
Jet Rdam Barges vs. Gasoil Futures Swap Contract *
Singapore Gasoil vs. Rdam Gasoil Swap Contract *
Heating Oil Arb Swap: NYMEX Heating Oil v. Rdam Gasoil *
*The following Gasoil related Swap contracts are aggregated for purposes of Position Accountability levels:
 
The European Gasoil 0.2 Rdam Barges leg of the European Gasoil 0.2 Rdam Barges vs. Gasoil Futures Swap (EI) will be aggregated with the European Gasoil 0.2 Rotterdam Calendar Swap Contract (UG)
 
The European Gasoil 0.2 CIF NWE Cargoes leg of the European Gasoil 0.2 CIF NWE vs. Gasoil Futures Swap (EC) will be aggregated with the European Gasoil 0.2 NWE (Northwest Europe) Calendar Swap Contract (UE) = 1,500 Contracts
 
The European Gasoil 0.2 FOB MED leg of the European Gasoil 0.2 FOB MED vs. Gasoil Futures Swap Contract (EF) will be aggregated with the European Gasoil 0.2 MED (Mediterranean) Calendar Swap Contract (UQ) = 1,500 Contracts
 
The Jet CIF NWE leg of the Jet CIF NWE vs. Gasoil Futures Swap Contract (JC) will be aggregated with the European Jet Kerosene NWE (Northwest Europe) Calendar Swap Contract (UJ) =1,500 Contracts
 
The Jet Rdam Barges leg of the Jet Rdam Barges vs. Gasoil Futures Swap Contract (JR) will be aggregated with the European Jet Kerosene Rotterdam Calendar Swap Contract (UR) = 1,500 Contracts
 
The Singapore leg of the Singapore Gasoil vs. Rdam Gasoil Swap Contract (GA) will be aggregated with the Singapore Gasoil Swap Contract (SG) = 1,500 Contracts
 
The Heating Oil leg of the Heating Oil Arb Swap: NYMEX Heating Oil v. Rdam Gasoil (HA) will be aggregated with the N.Y. Harbor No. 2 Heating Oil (HO) = 7,000 Contracts

Residual Fuel Oil Crack Swaps (2 Products) Accountability Level
3.5% Fuel Oil Rdam Crack Spread Swap *
1% Fuel Oil NWE Crack Spread Swap Contract *

*The following Residual Fuel Oil related swap contracts are aggregated for purposes of Position Accountability levels:
 
The 3.5% NWE Fuel Oil leg of the 3.5% Fuel Oil Rdam Crack Spread Swap (FO) will be aggregated with the European 3.5% Fuel Oil Rotterdam Calendar Swap Contract (UV) = 1,500 Contracts
 
The 1% Fuel Oil NWE leg of the 1% Fuel Oil NWE Crack Spread Swap Contract (FI) will be aggregated with the European 1% Fuel Oil NWE (Northwest Europe) Calendar Swap Contract (UF) = 1,500 Contracts
**Expiration Position Limits  
Crude Oil Swaps (11 Products) Expiration Limit
WTI Bullet Swap Contract **
Brent Bullet Swap Contract = 2,000 Contracts
Dated to Frontline Brent Swap **
Brent (ICE) Calendar Swap Contract **
WTI-Brent (ICE) Bullet Swap Contract **
WTI-Brent (ICE) Calendar Swap **
Brent-Dubai Swap Contract **
European Gasoil Crack Spread Swap = 1,000 Contracts**
European Argus Gasoline Crack Spread Swap Contract = 1,000 Contracts**
European Platts Gasoline MED Crack Spread Swap **
European Naphtha Crack Spread Swap **
** The following Crude Oil related swap contracts are aggregated for purposes of Expiration Position limits:
 
The WTI legs of the WTI Bullet Swap Contract (WS), WTI-Brent (ICE) Bullet Swap Contract (BY) and WTI-Brent (ICE) Calendar Swap (BK) will be aggregated with the Light “Sweet” Crude Oil Futures Contract (CL) = 2,000 Contracts
 
The ICE Brent Crude legs of the Dated to Frontline Brent Swap (FY), WTI-Brent (ICE) Bullet Swap Contract (BY), WTI-Brent (ICE) Calendar Swap (BK), Brent (ICE) Calendar Swap Contract (CY), Brent- Dubai Swap Contract (DB), European Gasoil Crack Spread Swap (GZ), European Argus Gasoline Crack Spread Swap Contract (RG), European Platts Gasoline MED Crack Spread Swap (EP), European Naphtha Crack Spread Swap (EN), 3.5% Fuel Oil Rdam Crack Spread (FO) and the 1% Fuel Oil NWE Crack Spread Swap Contract (FI) will be aggregated with the Brent Bullet Swap Contract (BB) = 2,000 Contracts
 
The Dated Brent leg of the Dated to Frontline Brent Swap (FY) will be aggregated with the Dated Brent Calendar Swap Futures Contract (UB) = 2,000 Contracts
 
The Dubai leg of the Brent-Dubai Swap Contract (DB) will be aggregated with the NYMEX Dubai Calendar Swap (Platts) Contract (DC) = 250 Contracts
 
The European Platts Gasoline leg of the European Platts Gasoline MED Crack Spread Swap (EP) will be aggregated with the European MED Gasoline (Platts) Swap Contract (EU) = 500 Contracts
 
The European Naphtha leg of the European Naphtha Crack Spread Swap (EN) will be aggregated with the European Naphtha Calendar Swap Contract (UN) = 150 Contracts

Gasoil Related Swaps (12 Products) Expiration Limit
European Gasoil 0.2 Rdam Barges vs. Gasoil Futures Swap **
European Gasoil 0.2 CIF NWE vs. Gasoil Futures Swap **
European Gasoil 0.2 CIF MED vs. Gasoil Futures Swap Contract = 500 Contracts
European Gasoil 0.2 FOB MED vs. Gasoil Futures Swap Contract **
European Gasoil 10 PPM Rdam Barges vs. Gasoil Futures Swap Contract = 500 Contracts
European ULSD 50 PPM CIF NWE vs. Gasoil Futures Swap = 500 Contracts
European ULSD 50 PPM CIF MED vs. Gasoil Futures Swap Contract = 500 Contracts
European ULSD 50 PPM FOB MED vs. Gasoil Futures Swap Contract = 500 Contracts
Jet CIF NWE vs. Gasoil Futures Swap Contract **
Jet Rdam Barges vs. Gasoil Futures Swap Contract **
Singapore Gasoil vs. Rdam Gasoil Swap Contract **
Heating Oil Arb Swap: NYMEX Heating Oil v. Rdam Gasoil **
** The following Gasoil related swap contract legs are aggregated for purposes of Expiration Position limits:
 
The European Gasoil 0.2 Rdam Barges leg of the European Gasoil 0.2 Rdam Barges vs. Gasoil Futures Swap (EI) will be aggregated with the European Gasoil 0.2 Rotterdam Calendar Swap Contract (UG) = 150 Contracts
 
The European Gasoil 0.2 CIF NWE Cargoes leg of the European Gasoil 0.2 CIF NWE vs. Gasoil Futures Swap (EC) will be aggregated with the European Gasoil 0.2 NWE (Northwest Europe) Calendar Swap Contract (UE) = 150 Contracts
 
The European Gasoil 0.2 FOB MED leg of the European Gasoil 0.2 FOB MED vs. Gasoil Futures Swap Contract (EF) will be aggregated with the European Gasoil 0.2 MED (Mediterranean) Calendar Swap Contract (UQ) = 150 Contracts
 
The Jet CIF NWE leg of the Jet CIF NWE vs. Gasoil Futures Swap Contract (JC) will be aggregated with the European Jet Kerosene NWE (Northwest Europe) Calendar Swap Contract (UJ) = 150 Contracts
 
The Jet Rdam Barges leg of the Jet Rdam Barges vs. Gasoil Futures Swap Contract (JR) will be aggregated with the European Jet Kerosene Rotterdam Calendar Swap Contract (UR) = 150 Contracts
 
The Singapore leg of the Singapore Gasoil vs. Rdam Gasoil Swap Contract (GA) will be aggregated with the Singapore Gasoil Swap Contract (SG) = 500 Contracts
 
The Heating Oil leg of the Heating Oil Arb Swap: NYMEX Heating Oil v. Rdam Gasoil (HA) will be aggregated with the N.Y. Harbor No. 2 Heating Oil (HO) = 1,000 Contracts
Residual Fuel Oil Crack Swaps (2 Products) Expiration Limit
3.5% Fuel Oil Rdam Crack Spread Swap **
1% Fuel Oil NWE Crack Spread Swap Contract **


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

The 3.5% NWE Fuel Oil leg of the 3.5% Fuel Oil Rdam Crack Spread Swap will be aggregated with the European 3.5% Fuel Oil Rotterdam Calendar Swap Contract (UV) = 150 Contracts

The 1% Fuel Oil NWE leg of the 1% Fuel Oil NWE Crack Spread Swap Contract (FI) will be aggregated with the European 1% Fuel Oil NWE (Northwest Europe) Calendar Swap Contract (UF = 150 Contracts

For these products, 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