Notice to Members
Notice No. 431
08/21/2008
Listing of New Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Futures and Option Contracts
In connection with the Green Exchange initiative; the New York Mercantile Exchange, Inc will list for trading and clearing the Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Futures contracts beginning on Sunday evening, August 24, 2008 (for trade date Monday, August 25, 2008), and will list the Regional Greenhouse Gas Initiative (RGGI) Option contracts for trade date Tuesday, August 26, 2008.
  1. Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Futures Contract

    Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Futures Contract (symbol RJ) will be physically delivered at RGGI CO2 Allowance Tracking System (RGGI-COATS). The minimum tick size will be $0.01 per allowance. Contract size will be 1000 RGGI CO2 allowances. The contract will expire at termination of the third business day prior to the first business day of the contract month. The listed contract month will be December 2009; additional contract months will be added based on commercial interest.

    The Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Futures Contract will be listed for trading on the CME Globex® electronic trading platform. Additionally, off-exchange transactions can be submitted for clearing via the NYMEX ClearPort® Clearing platform.

  2. Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Option Contract

    The Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Option Contract (symbol OR) will be a European-Style option that exercises into the underlying Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Futures Contract. The Notice to Members # 08-383 stated that the Option would be an American-Style option. The option will expire three (3) business days prior to the expiration of the underlying Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Futures Contract. There will be five (5) strike prices in increments of $0.50 per allowance above and below the at-the-money strike price. The minimum tick size will be $0.01 per allowance. There will be an Option for the December 2009 contract month.

    The Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Option Contract will be listed for trading on the NYMEX Trading Floor. Additionally, off-exchange option transactions can be submitted for clearing via the NYMEX ClearPort® Clearing platform.

  3. Fees

    Full Name
    Product Symbol
    Member
    Non Member
    Regional Greenhouse Gas Initiative CO2 Allowance Futures Contract
    RJ
    $2.50
    $2.50
    Regional Greenhouse Gas Initiative  CO2 Allowance Option Contract
    OR
    $2.50
    $2.50


    Additional Fees
    Member
    Non Member
    Top of Form
     
     
    Delivery Notice Bottom of Form
    $1.00
    $1.00
    Exercise and Assignment
    $0.85
    $0.85


    Additional Fees-
    Product Symbol
    Member
    Non Member
    Futures from Exercise and Assignment      
    Regional Greenhouse Gas Initiative CO2 Allowance Futures Contract
    RJ
    $2.50
    $2.50
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com