• Large Trader Requirement, All Month/Any One Month Accountability Levels, Expiration Month Position Limits, and Aggregation Allocations for Four (4) New Fertilizer Futures Contracts, and Amendment to the Header Notes of the Position Limit Table in Chapter 5 of the NYMEX Rulebook

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5760
      • Notice Date
      • 06 July 2011
      • Effective Date
      • 11 July 2011
    • In connection with the launch of four (4) new fertilizer futures contracts on trade date July 11, 2011 (see SER-5812 dated June 22, 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 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 reference that the current delivery month position limits for fertilizer commodities shall be in effect as of the open of trading on the last three trading days of the expiring contracts will be added to the Header Notes of the Position Limit Table in Chapter 5 of the NYMEX Rulebook.

       

      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.

       


      NYMEX Rulebook Chapter 5 Position Limit Table

      (Bold/underlining indicates additions)

       

       

      Contract Name

      Rule Chap-ter

      Com-modity Code

      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

       

      Fertilizer Commodities

       

       

       

       

       

       

       

       

      Urea (Granular) FOB US Gulf Swap Futures

      1080

      UFN

      1,000

      1,000

      250

      25

      UFN

       

      UAN FOB NOLA Swap Futures

      1081

      UFU

      1,000

      1,000

      200

      25

      UFU

       

      DAP FOB Tampa Swap Futures

      1082

      DFT

      1,000

      1,000

      250

      25

      DFT

       

      DAP FOB NOLA Swap Futures

      1083

      DFL

      1,000

      1,000

      250

      25

      DFL

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      Interpretations and Special Notices Relating to Chapter 5

      Position Limit, Position Accountability and Reportable Level Table

      Header Notes

       

       

      10.  The current delivery month position limits for fertilizer commodities shall be in effect as of the open of trading on the last three trading days of the expiring contracts.