• Large Trader Requirements, All Month/Any One Month Account-ability Levels, Expiration Month Position Limits, and Diminishing Balances and Aggregation Allocations for Four (4) New Singapore Fuel Oil Swap Futures Contracts, and Amendments to the Header Notes in the Position Limit Table in Chapter 5 of the NYMEX Rulebook

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5667
      • Notice Date
      • 13 April 2011
      • Effective Date
      • 18 April 2011

    • In connection with the launch of four (4) new Singapore fuel oil swap 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 diminishing balances 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. 

       

      In addition, the amendments to the Header Notes clarify that the new Mini Singapore Fuel Oil 380 cst (Platts) Swap Futures (Chapter 1051) and Mini Singapore Fuel Oil 380 cst (Platts) BALMO Swap Futures (Chapter 1054) contracts shall be deemed equivalent to .10 of the quantity of the base contract into which it aggregates. 

       

      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

      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)

      Aggre-gate Into (2)

      Rule 560

      Rule 560

      Rule 559

      Rule 561

      Petroleum

       

       

       

       

       

       

       

       

       

      Singapore

       

       

       

       

       

       

       

       

       

       

      Mini Singapore Fuel Oil 380 cst (Platts) Swap Futures

      1051

      MTS

      *

      1,500

      1,500

      150

      25

      SE

       

      Mini Singapore Fuel Oil 380 cst (Platts) BALMO Swap Futures

      1054

      MTB

      *

      1,500

      1,500

      150

      25

      SE

       

      Singapore Fuel Oil 180 cst (Platts) 6.5 Dubai Crack Spread Swap Futures

      1052

      SSD

      *

      5,000/ 10,000

      5,000/ 10,000

      500/ 1,000

      25

      UA

      DC

       

      Singapore Fuel Oil 180 cst (Platts) 6.5 Dubai Crack Spread BALMO Swap Futures

      1053

      SSB

      *

      5,000/ 10,000

      5,000/ 10,000

      500/ 1,000

      25

      UA

      DC

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      Position Limit, Position Accountability and Reportable Level Table

      Header Notes

       

      1.  ….

       

      The following Petroleum contracts shall be deemed equivalent to .10 of the quantity of the corresponding base contract into which each Mini Petroleum contract aggregates:

       

      Mini European 3.5% Fuel Oil (Platts) Barges FOB Rdam Swap Futures

      Mini Singapore Fuel Oil 180 cst (Platts) Swap Futures

      Mini European 1% Fuel Oil (Platts) Barges FOB Rdam Swap Futures

      Mini European 1% Fuel Oil (Platts) Cargoes FOB NWE Swap Futures

      Mini European Naphtha (Platts) CIF NWE Swap Futures

      Mini European 1% Fuel Oil (Platts) Cargoes FOB NWE BALMO Swap Futures

      Mini European 3.5% Fuel Oil (Platts) Barges FOB Rdam BALMO Swap Futures

      Gasoil (ICE) Mini Calendar Swap Futures

      Mini Gasoil 0.1 (Platts) Cargoes CIF NWE vs. Gasoil Swap Futures

      Mini ULSD 10ppm (Platts) Cargoes CIF NWE vs. Gasoil Swap Futures

      Mini European 1% Fuel Oil (Platts) Barges FOB Rdam BALMO Swap Futures

      Mini European Jet Kero (Platts) Cargoes CIF NWE vs. Gasoil Swap Futures

      Mini European Jet Kero (Platts) Barges FOB Rdam vs. Gasoil Swap Futures

      Mini ULSD 10ppm (Platts) Cargoes CIF MED vs. Gasoil Swap Futures

      Mini Singapore Fuel Oil 180 cst (Platts) BALMO Swap Futures

      Mini Singapore Fuel Oil 380 cst (Platts) Swap Futures

      Mini Singapore Fuel Oil 380 cst (Platts) BALMO Swap Futures

       

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