Administrative Amendments to Three Gulf Coast Unleaded 87 Gasoline Futures Contracts

Effective trade date Monday, June 7, 2010, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will implement amendments to the chapter titles and floating price rules for three Gulf Coast Unleaded 87 gasoline futures contracts listed for trading on the NYMEX trading floor and for clearing through CME ClearPort^®.  The amendments, provided below in blackline, are intended to render the rule language more specific. The amendments do not affect the settlement or valuation of these contracts.  The amendments are provided below in blackline. 

Should you have any questions or require any further information, please contact Dan Brusstar at 212-299-2604.

(underline indicates addition; strikethrough indicates deletion)

Chapter 512 (commodity code RU)

Gulf Coast Unl 87 Gasoline M1 (Platts) Crack Spread Swap Futures

512.02              FLOATING PRICE

The Floating Price for each contract month is equal to the arithmetic average of the Platts U.S. Gulf Coast Unleaded 87 gGasoline (Colonial M Grade using the lowest RVP posted except M0) pipeline mean minus the NYMEX Light Sweet Crude Oil Futures first nearby contract month settlement price for each business day that both are determined during the contract month.  The Platts prices to be used are found in Platts media or any accepted Platts product and the timing is end of day New York.

For purposed of determining the Floating Price, the Platts U.S. Gulf Coast Pipeline Unl 87 gasoline mean will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent.

Chapter 526 (commodity code GS)

Gulf Coast Unl 87 Gasoline M1 (Platts) Calendar Swap Futures

526.02              FLOATING PRICE

The Floating Price for each contract month is equal to the arithmetic average of the high and low quotations from Platts Oilgram Price Report for Gulf Coast Unleaded 87 Gasoline (Colonial M Grade using the lowest RVP posted except M0) (Pipeline) for each business day that it is determined during the contract month.  The Platts prices to be used are found in Platts media or any accepted Platts product and the timing is end of day New York.

Chapter 557 (commodity code RV)

Gulf Coast Unl 87 Gasoline M1 (Platts) vs. RBOB Gasoline Spread Swap Futures

557.02              FLOATING PRICE

The Floating Price for each contract month is equal to the arithmetic average of the Platts U.S. Gulf Coast Unleaded 87 gGasoline (Colonial M Grade using the lowest RVP posted except M0) pipeline mean minus the RBOB Gasoline Futures first nearby contract month settlement price for each business day that both are determined during the contract month.