• Launch of Daily European Union Allowance (EUA) Futures Contract on CME Globex and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5411
      • Notice Date
      • 30 September 2010
      • Effective Date
      • 31 October 2010
    • Effective Sunday, October 31, 2010, for trade date Monday, November 1, 2010, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list a Daily European Union Allowance (EUA) Futures contract for trading on CME Globex and for submission for clearing through CME ClearPort. The contract is listed with NYMEX, and is subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.



      ·         Commodity Code: EUL

      ·         Rule Chapter: 841

      ·         Delivery: Physical delivery at the UK Emissions Trading Registry.

      ·         Contract Unit: 1,000 European Union Allowances (EUAs).

      ·         Termination of Trading: 17:00:00 UK local time on the contract day.

      ·         Listed Days: Two (2) daily contracts will be listed at any one time (the current trade date and the following trade date).

      ·         Initial Contract Listing: November 1, 2010 and November 2, 2010.

      ·         Minimum Price Tick: € 0.01 per EUA

      ·         Trading Hours: CME Globex and CME ClearPort – Sunday through Friday, from Sunday, 17:00:00 Chicago time to Friday, 17:00:00 UK local time (which corresponds to 11:00:00 Chicago time, subject to the exception noted below).


      Notes: There is a trading session commencing at 17:00:00 Chicago time on Sunday.  There is no trading session commencing at 17:00:00 Chicago time on Friday.



      Throughout the calendar year (during both Daylight Savings Time and Standard Time), 17:00:00 UK local time equates to 11:00:00 Chicago time, except during any period in which there is a discrepancy between the transition to (or from) DST in the U.S. and BST in the UK.  For 2010, due to the earlier ending of BST in the UK than of DST in the U.S., 17:00:00 UK local time equates to 12:00:00 (noon) Chicago time during the week of October 31 through November 7, 2010.




      Should you have any questions or require any further information, please contact Brad Leach at 212-299-2609 or Adila Mchich 212-299-2270.