Launch of Indonesian Coal (McCloskey sub-bituminous) Swap Futures on CME ClearPort and NYMEX Trading Floor

Please be advised that effective Sunday, January 23, 2011, for trade date Monday, January 24, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the Indonesian Coal (McCloskey sub-bituminous) Swap Futures (MCC) contract 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 contract is listed with, and subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc. 

The product specifications are as follows:

·         Product Name: Indonesian Coal (McCloskey sub-bituminous) Swap Futures

·         Commodity Code: MCC

·         Settlement Type: Financial

·         First Listed Month: February 2011

·         Listing Period: Current year plus next full calendar year - up to 24 months.  A new calendar year will be added following the termination of trading in the December contract month of the current year.

·         Contract Size: 1,000 metric tons

·         Termination of Trading: The contract shall terminate at the close of trading on the last Friday of the contract month. If such Friday is a UK holiday, the contract will terminate on the UK business day immediately prior to the last Friday of the contract month.

·         Minimum Price Fluctuation: $0.05 (5¢) per metric ton

·         Final Settlement Price: Settlement tick = $0.01

·         Rule Chapter: 294

·         Fee Schedule:

The chapters setting forth the terms and conditions of the new coal swap futures contract will be available on the Exchange’s online rulebook. Margins and position limits will be announced in separate notices.

Should you have any questions or require any further information, please contact Richard Stevens at (44) 207-796-7129, Owain Johnson at (65) 6593-5568 or Adila Mchich at (212) 299-2270.