• Large Trader Requirements, All Month/Any One Month Accountability Levels, Expiration Month Position Limits, and Aggregation Allocations for Three (3) New Ferrous Metals Futures Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5656
      • Notice Date
      • 13 April 2011
      • Effective Date
      • 18 April 2011
    • In connection with the launch of three (3) new ferrous metals futures contracts on trade date April 18, 2011, please note below the corresponding all month/any one month accountability levels (NYMEX Rule 560), expiration month position limits (NYMEX Rule 559), reportable levels (NYMEX Rule 561), and aggregation allocations for the new contracts.  These contracts will be added to the Position Limit, Position Accountability and Reportable Level Table located in the Interpretations and Special Notices Section of Chapter 5 of the NYMEX Rulebook.  The commodity codes are provided for the Clearing Members that file reports pursuant to NYMEX Rule 561.A in a machine-readable format. 

       

      Contract related questions can be directed to Chris Reinhardt, Associate Director, Market Surveillance, at 212.299-2882, and Ryne Toscano, Supervisor, Market Surveillance, at 212.299.2879.

       

      (Bold/underlining indicates additions)

       

      Contract Name

      Rule Chap-ter

      Com-modity Code

      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

      Metals

       

       

       

       

       

       

       

       

      HMS 80/20 Ferrous Scrap, CFR Turkey (Platts) Swap Futures

      867

      FSF

      50,000

      40,000

      8,000

      25

      FSF

       

      European Hot Rolled Coil, Ex-Works Ruhr Germany (Platts) Swap Futures

      871

      NSF

      50,000

      30,000

      7,500

      25

      NSF

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      Steel Billet, FOB Black Sea (Platts) Swap Futures

      869

      SSF

      20,000

      15,000

      3,000

      25

      SSF