• Listing of One (1) Natural Gas Liquids Futures and Two (2) Plastics Futures on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5482
      • Notice Date
      • 17 November 2010
      • Effective Date
      • 05 December 2010
    • Effective Sunday, December 5, 2010, for trade date Monday, December 6, 2010, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following natural gas liquids and plastics futures contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. 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

      Mont Belvieu Normal Butane LDH (OPIS) Swap Futures

      MNB

      395

      December 2010

      Current year and the next 4 consecutive calendar years

      PGP Polymer Grade Propylene (PCW) Calendar Swap Futures   

      PGP

      711

      January 2011

      Current year and next 2 consecutive calendar years

      PP Polypropylene (PCW) Calendar Swap Futures

      PPP

      736

      January 2011

      Current year and next 2 consecutive calendar years

      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:

       

      MNB = 42,000 Gallons

      PGP = 100,000 Pounds

      PPP = 47,000 Pounds

       

      Termination of Trading:

      MBN, PGP, and PPP:  Trading shall cease on the last business day of the contract month.

       

      Minimum Price Intervals and Value per Tick:

      MNB:    Minimum price tick = $0.00001   Value per tick = $0.42

      PGP:    Minimum price tick = $0.00001   Value per tick = $1.00

      PPP:    Minimum price tick = $0.00001   Value per tick = $0.47

       

      Final Settlement Price:

      MNB, PGP, PPP:   Settlement tick = $0.00001

       

      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

      Mont Belvieu Normal Butane LDH (OPIS) Swap Futures

      Member

      $0.85

      Member

      $0.85

      Member

      $0.85

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $1.35

       

      Blended Floor

      $1.10

       

      PGP Polymer Grade Propylene (PCW) Calendar Swap Futures   

      Member

      $6.00

      Member

      $6.00

      Member

      $6.00

      Non-Member

      $7.50

      Non-Member

      $7.50

      Non-Member

      $7.50

       

      Blended Floor

      $6.75

       

      PP Polypropylene (PCW) Calendar Swap Futures

      Member

      $6.00

      Member

      $6.00

      Member

      $6.00

      Non-Member

      $7.50

      Non-Member

      $7.50

      Non-Member

      $7.50

       

      Blended Floor

      $6.75

       

       

      For more information please contact Daniel Brusstar at 212-299-2604.