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Listing of Four New European Biofuel Swap Futures on NYMEX Trading Floor and CME ClearPort
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- To
- Members, Member Firms and Market Users
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- From
- Market Regulation Department
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- #
- SER-5201
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- Notice Date
- 08 April 2010
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- Effective Date
- 25 April 2010
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Effective Sunday, April 25, 2010 for trade date Monday, April 26, 2010, the New York Mercantile Exchange, Inc. (NYMEX) will list the following four (4) new European biofuel swap 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.
Contract
Code
Rule Chapter
RME Biodiesel (Argus) FOB Rdam vs. ICE Gasoil Spread Swap Futures
KE
314
FAME 0 Biodiesel (Argus) FOB Rdam vs. ICE Gasoil Spread Swap Futures
LE
315
Ethanol (Argus) T1 ROB Rdam Excluding Duty Swap Futures
WE
209
Ethanol (Argus) T2 FOB Rdam Including Duty Swap Futures
YE
210
Valid Contract Months: The first listed month for the four (4) new European biofuel swap futures will be the May 2010 contract month. The four new European biofuel swap futures will be listed for 24 consecutive contract months.
Contract Size:
KE and LE = 100 Metric Tons
WE and YE = 100 Cubic Meters
Minimum Price Intervals and Value per Tick:
KE, LE and WE
Minimum price tick = $0.001
Value per tick $0.10 (USD)
YE
Minimum price tick = €0.001
Value per tick €0.10(EURO)
Termination of Trading:
Trading shall cease on the last business day of the contract month for all four new European biofuel swap futures.
Final Settlement Price:
KE, LE and WE
Minimum settlement tick = $0.001 (USD)
YE
Minimum settlement tick = €0.001 (EURO)
Fees:
RME (Argus) Biodiesel FOB Rdam vs. ICE Gasoil Spread Swap Future
FAME 0 (Argus) Biodiesel FOB Rdam vs. ICE Gasoil Spread Swap Future
CME ClearPort Rates
New York Trading Floor Rates
Cash Settlement Fee
Member
$1.70
Member
$1.70
Member
$1.70
Non-Member
$2.70
Non-Member
$2.70
Non-Member
$2.70
Blended Floor Rate
$2.20
Ethanol (Argus) T1 FOB Rdam Excluding Duty Swap Future
Ethanol (Argus) T2 FOB Rdam Including Duty Swap Future
CME ClearPort Rates
New York Trading Floor 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
Blended Floor Rate
$1.10
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).
For more information please contact Richard Stevens at +44 20 7796 7219, or Daniel Brusstar at 212-299-2604.
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