• Notification of Rule Amendment to Final Settlement for Three Minute-Marker Futures Contracts for Crude Oil, RBOB Gasoline and Heating Oil Effective July 2009 Contract Month

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-4919
      • Notice Date
      • 25 June 2009
      • Effective Date
      • 25 June 2009

    • Beginning with the July 2009 contract month, the New York Mercantile Exchange Inc. (“NYMEX”) has adopted amendments to NYMEX Rules 231.07, 235.07 and 239.07 to revise the final settlement price for NYMEX Crude Oil Minute-Marker Futures (6C), NYMEX RBOB Gasoline Minute-Marker Futures (6R) and NYMEX Heating Oil Minute-Marker Futures (6H) listed on CME ClearPort clearing and trading systems and on the NYMEX trading floor.  The amendments to NYMEX Rules 231.07, 235.07 and 239.07 are set forth below, with additions underscored and deletions overstruck. 

       

      The amendments revise the final settlement price such that the minute-marker contracts will settle using the underlying settlement prices for the NYMEX Light Sweet Crude Oil, RBOB Gasoline, and Heating Oil futures contracts on the last trading day of the minute-marker contracts. 

       

      NYMEX Crude Oil Minute-Marker Futures contract

      231.07 Final Settlement

      Delivery under the contract shall be by cash settlement.  The final settlement price will be the Floating Price calculated for each daily contract front month settlement price of the NYMEX Light Sweet Crude Oil Contract on the penultimate (second-to-last) trading day.

      NYMEX RBOB Gasoline Minute-Marker Futures contract

      235.07 Final Settlement

      Delivery under the contract shall be by cash settlement.  The final settlement price will be the Floating Price calculated for each daily contract front month settlement price of the NYMEX New York Harbor RBOB Gasoline Futures Contract on the penultimate (second-to-last) trading day.

      NYMEX Heating Oil Minute-Marker Futures contract

      239.07 Final Settlement

      Delivery under the contract shall be by cash settlement.  The final settlement price will be the Floating Price calculated for each daily contract front month settlement price of the NYMEX New York Harbor Heating Oil Contract on the penultimate (second-to-last) trading day.

       

       

      Should you have any questions, please contact Daniel Brusstar at (212) 299-2604.

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2024 CME Group Inc. All rights reserved.