Effective Sunday, May 1, 2011, for trade date Monday, May 2, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following petroleum balance-of-month 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.
The Exchange will allow the exchange for related position (EFRP) transactions to be submitted through CME ClearPort. EFRP transactions in these futures contracts will be governed by the provisions of Exchange Rule 538. The contract titles, commodity codes, rule chapters and listing periods are provided in the table below.
Contract Title |
Code |
Chapter |
Listing Period |
Gulf Coast No. 6 Fuel Oil 3.0% vs. European 3.5% Fuel Oil Barges FOB Rdam (Platts) BALMO Swap Futures |
GCB |
1063 |
One month and the following month listed 10 business days prior to the start of the contract month. |
New York Fuel Oil 1.0% vs. European 1% Fuel Oil Cargoes FOB NWE (Platts) BALMO Swap Futures |
NYG |
1064 |
One month and the following month listed 10 business days prior to the start of the contract month. |
· Contract Size: GCB and NYG = 1,000 Barrels
|
· Termination of Trading: Trading shall cease on the last business day of the contract month.
· Minimum Price Intervals: Minimum price tick = $0.001
· Value per Tick: GCB and NYG = $1.00
· Final Settlement Price: Minimum settlement tick = $0.001
· First Listed Month: June 2011
· 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 |
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Gulf Coast No. 6 Fuel Oil 3.0% vs. European 3.5% Fuel Oil Barges FOB Rdam (Platts) BALMO Swap Futures |
Member |
$0.85 |
Member |
$0.85 |
Member |
$0.85 |
Non-Member |
$1.35 |
Non-Member |
$1.35 |
Non-Member |
$1.35 |
|
|
Blended Floor |
$1.10 |
|
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New York Fuel Oil 1.0% vs. European 1% Fuel Oil Cargoes FOB NWE (Platts) BALMO Swap Futures |
Member |
$0.85 |
Member |
$0.85 |
Member |
$0.85 |
Non-Member |
$1.35 |
Non-Member |
$1.35 |
Non-Member |
$1.35 |
|
|
Blended Floor |
$1.10 |
|
For more information please contact Daniel Brusstar at 212-299-2604.