• Notification of Listing of Henry Hub Natural Gas Quadultimate Financial Futures and Option

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5112
      • Notice Date
      • 21 January 2010
      • Effective Date
      • 07 February 2010
    • Beginning on Sunday, February 7, 2010 for trade date Monday, February 8, 2010, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list for trading on the NYMEX trading floor and for clearing through CME ClearPort, financially settled futures and option on its Henry Hub Natural Gas Futures contract. The contract specifications for the futures and the option are listed below.

      Contract

      Henry Hub Natural Gas Quadultimate Financial Futures

      Henry Hub Natural Gas Quadultimate Financial Option

      Commodity Code

      0S (zero S)

      S0 (S zero)

      Rule Chapter

      359

      374

      Value

      The Floating Price for each contract month will be equal to the Natural Gas Futures contract settlement price for the corresponding contract month on the third business day preceding the last trading day for that contract month

      On expiration of a call option, the value will be the difference between the settlement prices for the underlying Natural Gas Futures and the strike price multiplied by 10,000 MMBtu, or zero, whichever is greater.  On exercise of a put option, the value will be the difference between the strike price and the settlement prices for the underlying Natural Gas Futures multiplied by 10,000 MMBtu, or zero, whichever is greater

      Expiration

      Three business days prior to the termination of the corresponding Natural Gas Futures contract month

      three business days prior to the termination of the corresponding Natural Gas Futures contract month

      Minimum Price Fluctuation

      $0.0001 (.01¢) per MMBtu

      $0.0001 (.01¢) per MMBtu

      Contract Size

      2,500 MMBtu

      10,000 MMBtu

      Trading Months

      Consecutive monthly contracts for the balance of current year plus twelve additional calendar years beginning with the March 2010 contract month

      Consecutive monthly contracts for the balance of current year plus twelve additional calendar years beginning with the March 2010 contract month

      Classification (Option)

       

      European-style option (no exercise prior to expiration)

      Strike Price Intervals (Option)

       

      Twenty strike prices in increments of $.0500 per MMBtu above and below the at-the-money strike price, for a total of at least 41 strike prices. Strike price boundaries are adjusted according to futures price movements

       

      Fee Schedule:

      Henry Hub Natural Gas Quadultimate Financial Futures (0S):

      (½ Turn)

      Member

      Cross Division (Blended)

      Non-Member

      CME ClearPort

      $.21

      $.34

      $.34

      Block Trading Surcharges

      $.10

      $.10

      $.10

      Open Outcry

       

       

       

      Day Trade

      $.21

      $.24

      $.34

      O/N Trade

      $.21

      $.24

      $.34

      EFS Surcharge

      $.62

      $.62

      $.34

      Cash Settlement

      $.21

      $.34

      $.34

      EFRP, Spreads, Strips and ex Pit trades are available at standard member and nonmember rates – no surcharges apply.

      Henry Hub Natural Gas Quadultimate Financial Option (S0)

      (½ Turn)

      Member

      Cross Division (Blended)

      Non-Member

      CME ClearPort

      $1.75

       

      $2.50

      Block Trading Surcharges

      $.10

      $.10

      $.10

      Open Outcry

       

       

       

      Day Trade

      $.45

       

       

      O/N Trade

      $.70

      $.95

      $1.45

      EOO

      $.70

      $.95

      $1.45

      Cash Settlement

      $.90

       

      $1.15

      EFRP, Spreads, Strips and ex Pit trades are available at standard member and nonmember rates – no surcharges apply.

       

      For more information, please contact Bob Biolsi at (212) 299-2610.