• Listing of Four (4) New Singapore Fuel Oil Futures on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5703
      • 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

      Product Code

      Rule Chapter

      First Listed Month

      Listing Period

      Mini Singapore Fuel Oil 380 cst (Platts) Swap Futures

      MTS

      1051

      April 2011

      One month and the following month listed 10 business days prior to the start of the contract month.

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

      SSD

      1052

      July 2011

      36 consecutive months

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

      SSB

      1053

      July 2011

      36 consecutive months

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

      MTB

      1054

      April 2011

      One month and the following month listed 10 business days prior to the start of the contract month.

      ·         Contract Size: MTS and MTB = 100 Metric Tons; SSD and SSB = 1,000 Barrels

       

      ·         Termination of Trading: MTS, MTB, SSD and SSB:  Trading shall cease on the last business day of the contract month. Business days are based on the Singapore Public Holiday calendar.

       

       

      ·         Minimum Price Intervals: MTS, MTB, SSD and SSB – Minimum price tick = $0.001

       

      ·         Value per Tick: MTS and MTB = $0.10, SSD and SSB = $1.00

       

      ·         Minimum Settlement Tick: MTS, MTB, SSD and SSB = $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).

      ·         Exchange Fees:

      Contract

      CME ClearPort Rates

      NY Trading Floor Rates

      Cash Settlement Fee

      Mini Singapore Fuel Oil 380 cst (Platts) Swap Futures

      Member

      $0.85

      Member

      $0.85

      Member

      $0.10

      Non-Member

      $1.25

      Non-Member

      $1.25

      Non-Member

      $0.10

       

       

      Blended Floor

      $1.05

       

       

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

      Member

      $0.85

      Member

      $0.85

      Member

      $0.10

      Non-Member

      $1.25

      Non-Member

      $1.25

      Non-Member

      $0.10

       

       

      Blended Floor

      $1.05

       

       

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

      Member

      $0.85

      Member

      $0.85

      Member

      $0.10

      Non-Member

      $1.25

      Non-Member

      $1.25

      Non-Member

      $0.10

       

       

      Blended Floor

      $1.05

       

       

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

      Member

      $0.85

      Member

      $0.85

      Member

      $0.10

      Non-Member

      $1.25

      Non-Member

      $1.25

      Non-Member

      $0.10

       

       

      Blended Floor

      $1.05

       

       

       

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