• Administrative Amendments to NYMEX Chapter 5, Position Limits, Accountability Levels and Reportable Levels Table to Denote the Diminishing Balances Allocation for Fifteen (15) Petroleum and Natural Gas Liquids Average Price Option Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5498
      • Notice Date
      • 03 December 2010
      • Effective Date
      • 01 December 2010
    • The New York Mercantile Exchange, Inc. (“NYMEX”) will amend NYMEX Chapter 5, Position Limits, Accountability Levels and Reportable Levels Table to denote the diminishing balances allocation for fifteen (15) petroleum and natural gas liquids average price option contracts.   Diminishing balance contracts are those whose front month volume in any given contract month diminishes as the contract month progresses towards month’s end.  These changes will be reflected in the Position Limit Table effective on trade date December 1, 2010.

       

      Contract related questions can be directed to Glenn Hofferber, Associate Director, Market Surveillance, at 212.299.2884, and Ryne Toscano, Lead Market Surveillance Analyst, at 212.299.2879.

       

      (Bold/underlining indicates additions)

       

      Contract Name

      Rule Chapter

      Com-modity Code

      Diminish-ing Balances Contracts

      All Month Account-ability Level

      Any One Month Account-ability Level

      Expira-tion Month Limit

      Report-ing Level

      Aggre-gate Into (1)

      Rule 560

      Rule 560

      Rule 559

      Rule 561

      Petroleum

       

       

       

       

       

       

       

       

      USA

       

       

       

       

       

       

       

       

       

      EIA Flat Tax On-Highway Diesel Average Price Option

      311

      DAP

      *

      7,000

      5,000

      1,000

      25

      A5

      New York Harbor

       

       

       

       

       

       

       

       

       

      Heating Oil Average Price Option

      321

      AT

      *

      7,000

      5,000

      1,000

      150

      23

       

      RBOB Gasoline Average Price Option

      386

      RA

      *

      7,000

      7,000

      1,000

      150

      27

      Europe

       

       

       

       

       

       

       

       

      Northwest Europe

       

       

       

       

       

       

       

       

       

      Brent Crude Oil Average Price Option

      379

      BA

      *

      20,000

      20,000

      2,000

      25

      BZ

       

      Gasoil Average Price Option

      748

      F7

      *

      5,000

      5,000

      1,000

      25

      GX

       

      European Jet Kerosene (Platts) Cargoes CIF NWE Average Price Option

      651A

      30

      *

      1,500

      1,500

      150

      25

      UJ

      Middle East

       

       

       

       

       

       

       

       

       

      Dubai Crude Oil (Platts) Average Price Option

      516

      AH

      *

      10,000

      10,000

      1,000

      25

      DC

      Asia/Pacific

       

       

       

       

       

       

       

       

      Singapore

       

       

       

       

       

       

       

       

       

      Singapore Gasoil (Platts) Average Price Option

      496A

      M2

      *

      1,500

      1,500

      n/a

      25

      SG

       

      Singapore Fuel Oil 180 cst (Platts) Average Price Option

      493A

      C5

      *

      1,500

      1,500

      n/a

      25

      UA

       

      Singapore Jet Kerosene (Platts) Average Price Option

      495A

      N2

      *

      1,500

      1,500

      n/a

      25

      KS

      Light Hydrocarbons

       

       

       

       

       

       

       

       

      Conway

       

       

       

       

       

       

       

       

       

      Conway Propane (OPIS) Average Price Option

      132

      CPR

      *

      2,000

      1,500

      250

      25

      8K

      Mont Belvieu

       

       

       

       

       

       

       

       

       

      Mont Belvieu Ethane (OPIS) Average Price Option

      410A

      4J

      *

      2,000

      1,500

      250

      25

      C0

       

      Mont Belvieu Natural Gasoline (OPIS) Average Price Option

      405A

      4I

      *

      2,000

      1,500

      250

      25

      7Q

       

      Mont Belvieu Normal Butane (OPIS) Average Price Option

      411A

      4K

      *

      2,000

      1,500

      250

      25

      D0

       

      Mont Belvieu LDH Propane (OPIS) Average Price Option

      409A

      4H

      *

      2,000

      1,500

      250

      25

      B0