• Listing of Eight New Petroleum Futures on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5191
      • Notice Date
      • 07 April 2010
      • Effective Date
      • 25 April 2010

    • Effective Sunday, April 25, 2010 for trade date Monday, April 26, 2010, the New York Mercantile Exchange, Inc. (NYMEX) will list the following eight (8) new petroleum futures contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes. These contracts are listed with NYMEX, and subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc. 

      Contracts

      Code

      Rule Chapter

      Listing Period

      Singapore Mogas 95 Unleaded vs. Singapore Mogas 92 Unleaded Spread (Platts) Swap Futures

      SMU

      211

      36 months

      European 3.5% Fuel Oil (Platts) Cargoes FOB MED BALMO Swap Futures

      EFF

      212

      1 month + following month listed 10 days prior to start of contract month

      Singapore Fuel Oil 180 cst (Platts) Crack Spread Swap Futures

      SFC

      213

      Current year + 5 years

      East-West Naphtha: Japan C&F vs. Cargoes CIF NWE Spread (Platts) Swap Futures

      EWN

      214

      36 months

      European 1% Fuel Oil Cargoes FOB MED (Platts) Swap Futures

      EFM

      215

      Current year + 5 years

      European 1% Fuel Oil Cargoes FOB MED vs. European 1% Fuel Oil Cargoes FOB NWE Spread (Platts) Swap Futures

      ENS

      216

      Current year + 5 years

      Mont Belvieu Ethylene (PCW) Financial Swap Futures

      MBN

      602

      24 months

      Mont Belvieu Ethylene (PCW) BALMO Swap Futures

      MBB

      587

      1 month + following month listed 10 days prior to start of contract month

      Valid Contract Months: The first listed month for each of the eight (8) new petroleum futures will be the May 2010 contract month.  The listing period is reflected in the table above.

      Contract Size:

      SMU, SFC = 1,000 Barrels

      EFF, EWN, EFM, ENS = 1,000 Metric Tons

      MBN, MBB = 100,000 Pounds

      Minimum Price Intervals and Value per Tick:

      SMU, EFF, SFC, EWN, EFM, ENS

      Minimum price tick = $0.001

      Value per tick $1.00

      MBN, MBB

      Minimum price tick = $0.00001

      Value per tick $1.00

      Termination of Trading:

      Trading shall cease on the last business day of the contract month for all eight new petroleum futures.

      Final Settlement Price:

      SMU, EFF, SFC, EWN, EFM, ENS

      Minimum settlement tick = $0.001

      MBN, MBB

      Minimum settlement tick = $0.00001

      Trading and Clearing Hours:

      CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).

      Open Outcry:    Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT).

      Fees:

      Contract

      CME ClearPort Rates

      NY Trading Floor Rates

      Cash Settlement Fee

      Singapore Mogas 95 Unleaded vs. Singapore Mogas 92 Unleaded Spread (Platts)

      Member

      $0.85

      Member

      $0.85

      Member

      $0.10

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $0.10

       

      Blended Floor

      $1.10

       

      European 3.5% Fuel Oil (Platts) Cargoes FOB MED BALMO Swap Futures

      Member

      $7.00

      Member

      $7.00

      Member

      $1.00

      Non-Member

      $9.00

      Non-Member

      $9.00

      Non-Member

      $1.00

       

      Blended Floor

      $8.00

       

      Singapore Fuel Oil 180 cst (Platts) Crack Spread Swap Futures

      Member

      $7.00

      Member

      $7.00

      Member

      $1.00

      Non-Member

      $9.00

      Non-Member

      $9.00

      Non-Member

      $1.00

       

      Blended Floor

      $8.00

       

      East-West Naphtha: Japan C&F vs. Cargoes CIF NWE Spread (Platts) Swap Futures

      Member

      $7.00

      Member

      $7.00

      Member

      $1.00

      Non-Member

      $9.00

      Non-Member

      $9.00

      Non-Member

      $1.00

       

      Blended Floor

      $8.00

       

      European 1% Fuel Oil Cargoes FOB MED (Platts) Swap Futures

      Member

      $7.00

      Member

      $7.00

      Member

      $1.00

      Non-Member

      $9.00

      Non-Member

      $9.00

      Non-Member

      $1.00

       

      Blended Floor

      $8.00

       

      European 1% Fuel Oil Cargoes FOB MED vs. European 1% Fuel Oil Cargoes FOB NWE Spread (Platts) Swap Futures

      Member

      $7.00

      Member

      $7.00

      Member

      $1.00

      Non-Member

      $9.00

      Non-Member

      $9.00

      Non-Member

      $1.00

       

      Blended Floor

      $8.00

       

      Mont Belvieu Ethylene (PCW) Financial Swap Futures

      Member

      $6.00

      Member

      $6.00

      Member

      $6.00

      Non-Member

      $7.50

      Non-Member

      $7.50

      Non-Member

      $7.50

       

      Blended Floor

      $6.75

       

      Mont Belvieu Ethylene (PCW) BALMO Swap Futures

      Member

      $6.00

      Member

      $6.00

      Member

      $6.00

      Non-Member

      $7.50

      Non-Member

      $7.50

      Non-Member

      $7.50

       

      Blended Floor

      $6.75

       

      For more information please contact Daniel Brusstar at 212-299-2604.

       

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