NYMEX issued the following notice on Friday, March 14, 2008:
Notice No. 08-147
March 14, 2008
TO: All NYMEX Exchange Members and Member Firms
FROM: James E. Newsome
SUBJECT: Listing a New Physically-Delivered Contract for New York Harbor Ethanol Futures on CME GLOBEX® and on NYMEX ClearPort®
Beginning on Sunday evening, March 30 (for trade date Monday, March 31), the Exchange will list a physically-delivered New York Harbor Ethanol Futures Contract on CME GLOBEX® and on NYMEX ClearPort® clearing. This new futures contract will be available during the normal trading hours for CME GLOBEX® and NYMEX ClearPort® clearing.
The New York Harbor Ethanol Futures Contract, code QE (Globex code QEN), features physical delivery of ethanol in the New York Harbor, with delivery terms similar to the New York Harbor RBOB Gasoline Contract. The first contract month to be listed will be for May 2008. The Exchange will list 36 consecutive months. The last trading day in a current month shall be on the last business day of the month preceding the delivery month. The contract size is 42,000 gallons and minimum tick size is $0.0001 per gallon.
Further, the inter-commodity spread between ethanol and RBOB will be listed on CME GLOBEX®. EFP and EFS transactions will be available for execution on the NYMEX ClearPort® clearing platform.
The fees for the New York Harbor Ethanol Futures Contract are as follows:
CME GLOBEX® NYMEX ClearPort® clearing
Member Day Trade $0.45 Member (EFP, EFS, Blocks) $0.70
Member Overnight Trade $0.70 Non-Member (EFP, EFS, Blocks) $1.45
Non-Member Rate $1.45
COMEX Blended Rate $0.95
Delivery (House Account) $0.50
Delivery (Customer Account) $1.00
Block Trading Surcharge $0.10
EFS Surcharge $2.50
For further information, please contact Daniel Brusstar on 212-299-2604.
CME Group Market Data Information
Code Group Code
Physically Delivered New York Harbor Ethanol Futures QEN N
MDP RLC Channel: 30
MDP ITC 2.1 Channel: 38
NYMEX New York Harbor Ethanol Futures are currently available for customer testing in the New Release environment.