Listing of Twelve New Dry Freight Timecharter Contracts on CME ClearPort and NYMEX Trading Floor

Effective Sunday, 6 June, 2010 for trade date Monday, 7 June, 2010, the New York Mercantile Exchange, Inc (NYMEX) will list the following twelve (12) new dry freight timecharter contracts for trading on the NYMEX trading floor, and for submission for clearing through CME ClearPort.  These contracts are listed with NYMEX, and subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.

Valid Contract Months:
The first listed month of the twelve (12) timecharter contracts will be the June 2010 contract month.  The listing period is described in the table above.

Contract Size:
CFU, PFU, SFT, HFT = 1 charter day
M0, N0, P0, Q0 = 1 charter day
CSF, F0, G0, H0 = ¼ (one quarter) charter day

Minimum Price Interval and Value per Tick:

The following price intervals shall be observed in respect of traded prices and daily settlement prices:
CFU, PFU, SFT, HFT       Minimum price tick = $1 per charter day             Value per tick=$1
M0, N0, P0, Q0               Minimum price tick = $1 per charter day             Value per tick=$1
CSF, F0, G0, H0             Minimum price tick = $1 per charter day             Value per tick=$0.25

Final Settlement Price Interval and Value per Tick:

The following price intervals shall be observed in respect of final settlement prices:
CFU, PFU, SFT, HFT       Minimum settlement tick = $0.01 per charter day
M0, N0, P0, Q0               Minimum settlement tick = $0.01 per charter day
CSF, F0, G0, H0             Minimum settlement tick = $0.01 per charter day

Termination of Trading:
For all twelve new timecharter contracts, trading shall cease on the last business day of the settlement period in respect of the specific contract month.  For December contract months, the settlement period shall be from the 1^st calendar day of the month to the 24^th calendar day of the month inclusive.  For all other contract months (i.e. January to November inclusive), the settlement period shall be the full calendar month.

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:

CFU, PFU, SFT, HFT, M0, N0, P0, Q0:
(Lot Size:  1 charter day)

CSF, F0, G0, H0:
(Lot Size:  ¼ charter day)

Fees will be applied to all participants based on their volume cleared through CME ClearPort in a calendar month period separately for each commodity, combined across delivery months.  Where a participant’s cleared volume in a commodity exceeds the stated volume threshold, the Reduced Fee shall be applied to the participant’s cleared volume.   Cleared volume amounts will be assessed at the account level:  members’ volume will be assessed in their main account; non-members’ volume will be assessed in their trading account.

Cash Settlement Fees shall not be applied in respect of these twelve timecharter contracts.

For more information, please contact Richard Stevens at +44 20 7796 7129.