• Listing of Nine (9) New Petroleum Futures Contracts on CME ClearPort® for Clearing and Trading

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-4940
      • Notice Date
      • 24 July 2009
      • Effective Date
      • 24 July 2009
    • Please be advised that beginning on Sunday, August 2 2009, for trade date Monday, August 3, 2009, the New York Mercantile Exchange, Inc. (“NYMEX” or the “Exchange”) will list nine new petroleum futures contracts for trading and for submission for clearing on CME ClearPort, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide capital efficiencies across asset classes.  These contracts are listed by NYMEX, and are subject to NYMEX rules and regulations. 

      The nine new petroleum contracts, commodity codes and rule chapters are as follows:

      Product

      Code

      Rule

      Chapter

      Dated Brent (Platts) Daily Swap Futures

      7G

      714

      Premium Unleaded Gasoline 10ppm (Platts) Rdam FOB Barges Swap Futures

      7L

      715

      Premium Unleaded Gasoline 10ppm (Platts) Rdam FOB Barges BALMO Swap Futures

      7N

      716

      EuroBob Gasoline 10ppm (Platts) Rdam FOB Barges Swap Futures

      7P

      717

      EuroBob Gasoline 10ppm (Platts) Rdam FOB Barges BALMO Swap Futures

      7S

      719

      Gasoline Euro-bob Oxy (Argus) NWE Barges Swap Futures

      7H

      729

      Gasoline Euro-bob Oxy (Argus) NWE Barges BALMO Swap Futures

      7R

      731

      Gasoline Euro-bob Oxy (Argus) NWE Barges Crack Spread Swap Futures

      7K

      732

      Gasoline Euro-bob Oxy (Argus) NWE Barges Crack Spread BALMO Swap Futures

      7I

      733

      The first listed month for these contracts will be the August 2009 contract month.  The Dated Brent contract (7G) will be listed for three consecutive months.  The Premium Unleaded Gasoline 10ppm (Platts) Rdam FOB Barges Swap Futures (7L), EuroBob Gasoline 10ppm (Platts) Rdam FOB Barges Swap Futures (7P), Gasoline Euro-bob Oxy (Argus) NWE Barges Swap Futures (7H), and Gasoline Euro-bob Oxy (Argus) NWE Barges Crack Spread Swap Futures (7K) will be listed for 36 consecutive months. The BALMO contracts (7N, 7S, 7R, and 7I) will be listed for one month and the following month for 10 business days prior to the start of the contract month. These contracts will be financially settled.

      The fees for the nine (9) new contracts are:

      The fees for the Dated Brent (Platts) Daily Swap Futures (code 7G) are:

      CPT Billing rates:

      CPC Billing rates:

      Cash Settlement fee:

      Member

      $0.85

      Member

      $0.85

      Member

      $0.85

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $1.35

      The fees for the Premium Unleaded Gasoline 10ppm (Platts) Rdam FOB Barges Swap Futures, EuroBob Gasoline 10ppm (Platts) Rdam FOB Barges Swap Futures, Gasoline Euro-bob Oxy (Argus) NWE Barges Swap Futures, and Gasoline Euro-bob Oxy (Argus) NWE Barges Crack Spread Swap Futures contracts (codes 7L, 7P, 7H, and 7K) are:

      CPT Billing rates:

      CPC Billing rates:

      Cash Settlement fee:

      Member

      $6.00

      Member

      $6.00

      Member

      $6.00

      Non-Member

      $9.00

      Non-Member

      $9.00

      Non-Member

      $9.00

       

      The fees for the Premium Unleaded Gasoline 10ppm (Platts) Rdam FOB Barges BALMO Swap Futures, EuroBob Gasoline 10ppm (Platts) Rdam FOB Barges BALMO Swap Futures, Gasoline Euro-bob Oxy (Argus) NWE Barges BALMO Swap Futures, and Gasoline Euro-bob Oxy (Argus) NWE Barges Crack Spread BALMO Swap Futures (codes 7N, 7S, 7R and 7I ) are:

      CPT Billing rates:

      CPC Billing rates:

      Cash Settlement fee:

      Member

      $15.00

      Member

      $15.00

      Member

      $15.00

      Non-Member

      $20.00

      Non-Member

      $20.00

      Non-Member

      $20.00

      These nine new petroleum contracts will be available during normal trading hours on CME ClearPort. Electronic trading and clearing is conducted from 6:00 p.m. Sunday until 5:15 p.m. Friday (New York prevailing time).  There is a 45-minute halt in trading each day between 5:15 p.m. (current trade date) and 6:00 p.m. (next trade date).

      The Exchange will allow exchange of futures for physical (“EFP”) and exchange of futures for swap (“EFS”) transactions to be submitted through CME ClearPort clearing.  The EFP and EFS transactions in this futures contract will be governed by the provisions of Exchange Rules 6.21 and 6.21A, respectively. 

      For further information, please contact Daniel Brusstar at (212) 299-2604.