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.