• Listing of Six (6) Euro-Denominated Petroleum Futures on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5695
      • Notice Date
      • 06 April 2011
      • Effective Date
      • 17 April 2011
    • Effective Sunday, April 17, 2011, for trade date Monday, April 18, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following petroleum futures contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. These futures contracts will be financially settled. The contracts are listed with NYMEX, and subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.  NYMEX will allow the exchange for related position (EFRP) transactions to be submitted through CME ClearPort.  EFRP transactions in these futures contracts will be governed pursuant to the provisions of Exchange Rule 538.

      SPECIFICATIONS:

      Contract Title

      Commodity Code

      Rule Chapter

      First Listed Month

      Listing Period

      ICE Brent (Euro-Denominated) Calendar Swap Futures

      IBE

      1055

      May 2011

      Current year and next 8 consecutive calendar years.

      ICE Gasoil (Euro-Denominated) Swap Futures

      IGE

      1056

      May 2011

      Current year and next 2 consecutive calendar years.

      Mini 3.5% Fuel Oil (Platts) Barges FOB Rdam (Euro-Denominated) Swap Futures

      MFT

      1057

      May 2011

      Current year and next 4 consecutive calendar years.

      Mini 1% Fuel Oil (Platts) Cargoes FOB NWE (Euro-Denominated) Swap Futures

      MFE

      1061

      May 2011

      Current year and next 4 consecutive calendar years.

      Mini ULSD 10ppm (Platts) Cargoes CIF NWE vs. ICE Gasoil (Euro-Denominated) Swap Futures

      MUL

      1059

      May 2011

      36 consecutive months

      Mini Gasoil 0.1 (Platts) Cargoes CIF NWE vs. ICE Gasoil (Euro-Denominated) Swap Futures

      MGG

      1060

      May 2011

      36 consecutive months

       

      ·         Contract Size:

      IBE = 1,000 Barrels

      IGE = 1,000 Metric Tons

      MFT, MFE, MUL, MGG = 100 Metric Tons

       

      ·         Termination of Trading: Trading shall cease on the last business day of the contract month.

       

      ·         Minimum Price Tick: € 0.001

       

      ·         Value per Tick:

      IBE, IGE = € 1.00

      MFT, MFE, MUL, and MGG = € 0.10

      ·         Final Settlement Price: Minimum Settlement Tick = €0.001

       

      ·         Trading and Clearing Hours:

      CME ClearPort:       Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).

      Open Outcry:          Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT).

      ·         Trading and Clearing Fees:

      Contract

      CME ClearPort Rates

      NY Trading Floor Rates

      Cash Settlement Fee

      Mini 3.5% Fuel Oil (Platts) Barges FOB Rdam (Euro-Denominated) Swap Futures

      Member

      $0.85

      Member

      $0.85

      Member

      $0.10

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $0.10

       

      Blended Floor

      $1.10

       

      Mini 1% Fuel Oil (Platts) Cargoes FOB NEW (Euro-Denominated) Swap Futures

      Member

      $0.85

      Member

      $0.85

      Member

      $0.10

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $0.10

       

      Blended Floor

      $1.10

       

      Mini ULSD 10ppm (Platts) Cargoes CIF NWE vs. ICE Gasoil (Euro-Denominated) Swap Futures

      Member

      $0.85

      Member

      $0.85

      Member

      $0.10

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $0.10

       

      Blended Floor

      $1.10

       

      Mini Gasoil 0.1 (Platts) Cargoes CIF NWE vs. ICE Gasoil (Euro-Denominated)  Swap Futures

      Member

      $0.85

      Member

      $0.85

      Member

      $0.10

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $0.10

       

      Blended Floor

      $1.10

       

      ICE Brent (Euro-Denominated) Calendar Swap Futures

      Member

      $0.85

      Member

      $0.85

      Member

      $0.10

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $0.10

       

      Blended Floor

      $1.10

       

      ICE Gasoil (Euro-Denominated) Swap Futures

      Member

      $7.00

      Member

      $7.00

      Member

      $0.10

      Non-Member

      $9.00

      Non-Member

      $9.00

      Non-Member

      $0.10

       

      Blended Floor

      $8.00

       

      For more information please contact Daniel Brusstar at 212-299-2604.