Effective Sunday, September 12, 2010, for trade date Monday, September 13, 2010, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following ten (10) 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. The futures contracts will be financially settled. The contracts are listed with NYMEX, and subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.
The contract titles, commodity codes, rule chapters, first listed month and listing periods are provided in the table below.
Contract |
Code |
Rule Chapter |
First Listed Month |
Listing Period |
Mini European Naphtha (Platts) CIF NWE Swap Futures |
MNC |
230 |
October 2010 |
36 consecutive months |
Mini ULSD 10ppm (Platts) Cargoes CIF MED vs. Gasoil Swap Futures |
UCM |
231 |
October 2010 |
36 consecutive months |
Mini European Jet Kero (Platts) Cargoes CIF NWE vs. Gasoil Swap Futures |
MJC |
232 |
October 2010 t |
36 consecutive months |
Mini European Jet Kero (Platts) Barges FOB Rdam vs. Gasoil Swap Futures |
MJB |
233 |
October 2010 |
36 consecutive months |
Mini Gasoil 10ppm (Platts) Cargoes CIF NWE vs. Gasoil Swap Futures |
MGN |
234 |
October 2010 |
36 consecutive months |
Mini Gasoil 0.1 (Platts) Cargoes CIF NWE vs. Gasoil Swap Futures |
MGF |
235 |
October 2010 |
36 consecutive months |
Daily European Naphtha (Platts) CIF NWE Swap Futures |
NCN |
236 |
September 2010 |
2 consecutive months |
Daily European 3.5% Fuel Oil (Platts) Barges FOB Rdam Swap Futures |
FOR |
237 |
September 2010 |
2 consecutive months |
Daily Gasoline Euro-bob Oxy (Argus) NWE Barges Swap Futures |
GBR |
238 |
September 2010 |
2 consecutive months |
Daily European 1% Fuel Oil (Platts) Cargoes FOB NWE Swap Futures |
FCN |
239 |
September 2010 |
2 consecutive months |
The Exchange will allow the exchange for related position (EFRP) transactions to be submitted through CME ClearPort. EFRP transactions in these futures contracts will be governed by the provisions of Exchange Rule 538.
Contract Size:
|
MNC, UCM, MJC, MJB, MGN, MGF = 100 Metric Tons
NCN, FOR, GBR, FCN = 1,000 Metric Tons
Termination of Trading:
MNC, UCM, MJC, MJB, MGN, and MGF: Trading shall cease on the last business day of the contract month.
NCN, FOR, GBR, FCN: Trading shall cease at the close of the business day of the daily contract.
Minimum Price Intervals and Value per Tick:
MNC, UCM, MJC, MJB, MGN, MGF: Minimum price tick = $0.001 Value per tick = $0.10
NCN, FOR, GBR, FCN: Minimum price tick = $0.001 Value per tick = $1.00
Final Settlement Price:
MNC, UCM, MJC, MJB, MGN, MGF: Settlement tick = $0.001
NCN, FOR, GBR, FCN: Settlement tick = $0.001
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 |
|||
Mini European Naphtha (Platts) CIF NWE Swap Futures |
Member |
$0.85 |
Member |
$0.85 |
Member |
$0.10 |
Non-Member |
$1.25 |
Non-Member |
$1.25 |
Non-Member |
$0.10 |
|
|
Blended Floor |
$1.05 |
|
|||
Mini ULSD 10ppm (Platts) Cargoes CIF MED vs. Gasoil Swap Futures |
Member |
$0.85 |
Member |
$0.85 |
Member |
$0.10 |
Non-Member |
$1.25 |
Non-Member |
$1.25 |
Non-Member |
$0.10 |
|
|
Blended Floor |
$1.05 |
|
|||
Mini European Jet Kero (Platts) Cargoes CIF NWE vs. Gasoil Swap Futures |
Member |
$0.85 |
Member |
$0.85 |
Member |
$0.10 |
Non-Member |
$1.25 |
Non-Member |
$1.25 |
Non-Member |
$0.10 |
|
|
Blended Floor |
$1.05 |
|
|||
Mini European Jet Kero (Platts) Barges FOB Rdam vs. Gasoil Swap Futures |
Member |
$0.85 |
Member |
$0.85 |
Member |
$0.10 |
Non-Member |
$1.25 |
Non-Member |
$1.25 |
Non-Member |
$0.10 |
|
|
Blended Floor |
$1.05 |
|
|||
Mini Gasoil 10ppm (Platts) Cargoes CIF NWE vs. Gasoil Swap Futures |
Member |
$0.85 |
Member |
$0.85 |
Member |
$0.10 |
Non-Member |
$1.25 |
Non-Member |
$1.25 |
Non-Member |
$0.10 |
|
|
Blended Floor |
$1.05 |
|
|||
Mini Gasoil 0.1 (Platts) Cargoes CIF NWE vs. Gasoil Swap Futures |
Member |
$0.85 |
Member |
$0.85 |
Member |
$0.10 |
Non-Member |
$1.25 |
Non-Member |
$1.25 |
Non-Member |
$0.10 |
|
|
Blended Floor |
$1.05 |
|
|||
Contract |
CME ClearPort Rates |
NY Trading Floor Rates |
Cash Settlement Fee |
|||
Daily European Naphtha (Platts) CIF NWE 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 |
|
|||
Daily European 3.5% Fuel Oil (Platts) Barges FOB Rdam 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 |
|
|||
Daily Gasoline Euro-bob Oxy (Argus) NWE Barges 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 |
|
|||
Daily European 1% Fuel Oil (Platts) Cargoes FOB NWE 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 |
|
For more information please contact Daniel Brusstar, Director, Energy Research, at (212) 299-2604.