• Large Trader Reporting Requirements, All Month/Any One Month Position Accountability Levels, Expiration Month Position Limits, Deterioration and Aggregation Allocations for Seventeen (17) New OPIS Petroleum and NGL Swap Contracts and Administrative Amendments to Existing Related Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5008
      • Notice Date
      • 17 September 2009
      • Effective Date
      • 17 September 2009

    • In connection with the launch of seventeen (17) new OPIS petroleum and NGL swap contracts on trade date September 21, 2009, please note below the corresponding all month/any one month accountability levels (Rule 560), expiration month position limits (Rule 559), reportable levels (Rule 561), deterioration and aggregation allocations for the new contracts.  The commodity codes are provided for the Clearing Members that file reports pursuant to NYMEX Rule 561.A in a machine-readable format. 

       

      Additionally, please note administrative amendments to five (5) existing related contracts whose aggregation allocations are affected with the launch of the aforementioned new contracts.

      In addition, the title of one column in Chapter 5, Position Limit, Position Accountability and Reportable Level Table is being amended to conform the column’s title to the descriptive language within Chapter 5, from “Deterioration Contracts” to “Diminishing Balance Contracts.”            

       

      Contract related questions can be directed to Anthony V. Densieski, Director, Market Surveillance at 212.299.2881, or Chris Reinhardt, Supervisor, Market Surveillance at 212.299.2884.  Please contact Martin Jacobs, Senior Director, Applications Development at 212.299.2829 if you have any information services questions. 


      (Bold/underline indicates additions; strikethrough indicates deletions)

       

       

      Contract Name

      Rule Chap-ter

      Com-modity Code

      Deteri-oration Dimin-ishing BalanceCon-tracts

      All Month Account-ability Level

      Any One Month Account-ability Level

      Expiration Month Limit

      Report-ing Level

      Aggre-gate Into (1)

      Aggre-gate Into (2)

      Rule 560

      Rule 560

      Rule 559

      Rule 561

      Petroleum

       

       

       

       

       

       

       

       

       

      USA

      Gulf Coast

      Gulf Coast ULSD (OPIS) Swap Futures

      253

      5P

      *

      7,000

      5,000

      1,000

      25

      5P

      Gulf Coast ULSD (OPIS) vs. Heating Oil Spread Swap Futures

      254

      5Q

      *

      7,000/7,000

      5,000/5,000

      1,000/1,000

      25/250

      5P

      HO

      Gulf Coast Heating Oil (OPIS) Swap Futures

      255

      7O

      *

      7,000

      5,000

      1,000

      25

      7O

      Gulf Coast Heating Oil (OPIS) vs. Heating Oil Spread Swap Futures

      256

      7W

      *

      7,000/7,000

      5,000/5,000

      1,000/1,000

      25/250

      7O

      HO

      Gulf Coast Gasoline (OPIS) Swap Futures

      249

      4E

      *

      7,000

      5,000

      1,000

      25

      4E

      Gulf Coast Gasoline (OPIS) vs. RBOB Gasoline Spread Swap Futures

      250

      4F

      *

      7,000/7,000

      5,000/5,000

      1,000/1,000

      25/150

      4E

      RB

      Gulf Coast Jet (OPIS) Swap Futures

      251

      R9

      *

      7,000

      5,000

      1,000

      25

      R9

      Gulf Coast Jet (OPIS) vs. Heating Oil Spread Swap Futures

      252

      W7

      *

      7,000/7,000

      5,000/5,000

      1,000/1,000

      25/250

      R9

      HO

       

      Light Hydrocarbons

      Conway

      Conway Natural Gasoline (OPIS) Swap Futures

      258

      8L

      *

      2,000

      1,500

      250

      25

      8L

      Conway Normal Butane (OPIS) Swap Futures

      259

      8M

      *

      2,000

      1,500

      250

      25

      8M

      Conway Propane 5 Decimals (OPIS) Swap Futures

      257

      8K

      *

      2,000

      1,500

      250

      25

      8K

       

      Conway Propane (OPIS) Swap Contract

      584

      W1

      *

      2,000

      1,500

      250

      25

      W1 8K

       

      Mont Belvieu

      Mont Belvieu Ethane (OPIS) BALMO Swap Futures

      298

      8C

      *

      2,000

      1,500

      250

      25

      C0

      Mont Belvieu Iso-Butane 5 Decimals (OPIS) Swap Futures

      406

      8I

      2,000

      1,500

      250

      25

      8I

       

      Mont Belvieu Isobutane (OPIS) Swap Contract

      587

      Y2

       

      2,000

      1,500

      250

      25

      Y2 8I

      Mont Belvieu Natural Gasoline 5 Decimals (OPIS) Swap Futures

      405

      7Q

      *

      2,000

      1,500

      250

      25

      7Q

      Mont Belvieu Natural Gasoline (OPIS) BALMO Swap Futures

      297

      R0

      *

      2,000

      1,500

      250

      25

      7Q

       

      Mont Belvieu Natural Gasoline (OPIS) Swap Contract

      585

      W3

       

      2,000

      1,500

      250

      25

      W3 7Q

       

      Mont Belvieu Natural Gasoline (OPIS) Average Price Option

      585a

      E1

       

      2,000

       

      1,500

      250

      25

      W3 7Q

       

      Mont Belvieu Natural Gasoline (OPIS) BALMO Swap

      314

      V5

      *

      2,000

      15,000 1,500

      250

      25

      W3 7Q

      Mont Belvieu Normal Butane (OPIS) BALMO Swap Futures

      299

      8J

      *

      2,000

      1,500

      250

      25

      D0

      Mont Belvieu LDH Propane (OPIS) BALMO Swap Futures

      296

      8O

      *

      2,000

      1,500

      250

      25

      B0

       

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