• Listing of New Regional Greenhouse Gas Initiative CO2 Allowance Futures and Options Contracts - Effective August 24, 2008

      • To
      • Quote Vendors
      • From
      • Market Data Operations
      • #
      • Q2008-154
      • Notice Date
      • 31 July 2008
      • Effective Date
      • 24 August 2008

    • NYMEX issued the following announcement on Monday, July 28, 2008:

       

      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 an American-Style option that exercises into the underlying Regional Greenhouse Gas Initiative (RGGI) CO2 Allowance Futures Contract.  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.

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