• Large Trader Requirements, All Month/Any One Month Account-ability Levels, Expiration Month Position Limits, and Diminishing Balances and Aggregation Allocations for Three (3) New Petroleum 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-5668
      • Notice Date
      • 26 April 2011
      • Effective Date
      • 26 April 2011

    • In connection with the launch of three (3) new petroleum swap futures contracts on trade date May 2, 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), 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 Argus Propane (Saudi Aramco) Swap Futures, Mini Argus Propane Far East Index Swap Futures, and Mini Japan C&F Naphtha (Platts) Swap Futures contracts shall be deemed equivalent to .10 of the quantity of the respective base contracts into which they aggregate. 

       

      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)

       

      NYMEX Rulebook Chapter 5 Position Limit Table

       

      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)

      Rule 560

      Rule 560

      Rule 559

      Rule 561

      Petroleum

       

       

       

       

       

       

       

       

      Middle East

       

       

       

       

       

       

       

       

      AG-FOB

       

       

       

       

       

       

       

       

       

      Mini Argus Propane (Saudi Aramco) Swap Futures

      851

      MAS

      *

      1,500

      1,000

      100

      25

      9N

       

      Asia/Pacific

       

       

       

       

       

       

       

       

      Far East

       

       

       

       

       

       

       

       

       

      Mini Argus Propane Far East Index Swap Futures

      850

      MAE

      *

      1,750

      1,250

      150

      25

      7E

       

      Japan

       

       

       

       

       

       

       

       

       

      Mini Japan C&F Naphtha (Platts) Swap Futures

      852

      MJN

      *

      1,000

      1,000

      100

      25

      JA

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      Interpretations and Special Notices Relating to Chapter 5

      Position Limit, Position Accountability and Reportable Level Table

      Header Notes

       

      1.  ….

       

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

       

      Mini Argus Propane (Saudi Aramco) Swap Futures

      Mini Argus Propane Far East Index Swap Futures

      Mini Japan C&F Naphtha (Platts) Swap Futures

       

       

       

       

       

       

       

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