• Listing of Three New 5 Decimal (OPIS) Natural Gas Liquid (NGL) Contracts for Clearing and Trading on CME ClearPort®

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-4957
      • Notice Date
      • 07 August 2009
      • Effective Date
      • 07 August 2009
    • Please be advised that beginning on Sunday, August 16, 2009, for trade date Monday, August 17, 2009, the New York Mercantile Exchange, Inc. (“NYMEX” or the “Exchange”) will list three new natural gas liquid (NGL) futures contracts for trading and for submission for clearing on CME ClearPort.  These new NGLs accommodate for a 5 decimal point price.  These contracts are listed by NYMEX, and are subject to NYMEX rules and regulations. 

      The three new NGLs, commodity codes and rule chapters are as follows:



      Rule Chapter

      Mont Belvieu LDH Propane 5 Decimals (OPIS) Swap Futures           



      Mont Belvieu Ethane 5 Decimals (OPIS) Swap Futures          



      Mont Belvieu Normal Butane 5 Decimals (OPIS) Swap Futures





      These new futures contracts will be financially-settled.  The first listed contract month will be the September 2009 contract month.  The Exchange will list up to 48 consecutive contract months for Propane, and 36 consecutive contract months for Ethane and Normal Butane.

      The fees for the three (3) new contracts 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


      Block fees do not apply. 

      The new 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 Rule 538. 

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