• Listing of Singapore Gasoline Crack Spreads on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5778
      • Notice Date
      • 24 May 2011
      • Effective Date
      • 05 June 2011
    • Effective Sunday, June 5, 2011, for trade date Monday, June 6, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list two Singapore Gasoline Crack Spread Swap Futures contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. The 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 contract titles, commodity codes, rule chapters and listing periods are provided in the table below.

      Contract

      Code

      Chapter

      Listing Period

      Singapore Mogas 92 Unleaded (Platts) Dubai Crack Spread Swap Futures

      1ND

      1084

      12 consecutive months

      Singapore Mogas 92 Unleaded (Platts) Brent Crack Spread Swap Futures

      1NB

      1085

      12 consecutive months

      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.

      Contract Specificationspending self-certification with the Commodity Futures Trading Commission

      ·         First Listed Month: July 2011

      ·         Contract Size: 1,000 Barrels

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

      ·         Minimum Price Intervals and Value per Tick: Minimum price tick = $0.001; Value per tick = $1.00

      ·         Final Settlement Price: Settlement tick = $0.001

      ·         Clearing and Trading 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).

      ·         All Month Accountability Level: 1ND = 7,000/10,000; 1NB = 7,000/20,000

      ·         Any One Month Accountability Level: 1ND = 5,000/10,000; 1NB = 5,000/20,000

      ·         Expiration Month Limit: 1ND = 1,000/1,000; 1NB = 1,000/2,000

      ·         Reporting Level: 25

      ·         Exchange Fees:

      CME ClearPort

      NY Trading Floor

      Cash Settlement

      Member

      $0.85

      Member

      $0.85

      Member

      $0.85

      Non-Member

      $1.25

      Non-Member

      $1.25

      Non-Member

      $1.25

       

       

      Blended Floor

      $1.05

       

       

      For more information please contact Owain Johnson at +65-6593-5568.