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

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5789
      • Notice Date
      • 02 June 2011
      • Effective Date
      • 19 June 2011
    • Effective Sunday, June 19, 2011, for trade date Monday, June 20, 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.

      The new products are as follows:

      Contract

      Code

      Chapter

      Singapore Fuel Oil 180 cst (Platts) 6.35 Dubai Crack Spread Swap Futures

      STS

      1091

      Singapore Fuel Oil 380 cst (Platts) 6.35 Dubai Crack Spread Swap Futures

      STI

      1092

      Singapore Fuel Oil 180 cst (Platts) 6.35 Brent Crack Spread Swap Futures

      STR

      1093

      Singapore Fuel Oil 180 cst (Platts) 6.35 Dubai Crack Spread BALMO Swap Futures

      STB

      1094

       

       

       

       

       

       

       

       

       

       

      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 Specifications pending self-certification with the Commodity Futures Trading Commission

      ·         First Listed Month: July 2011

      ·         Listing Period: STS, STI, STR = 36 consecutive months

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

      ·         Contract Size: 1,000 Barrels

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

      ·         Minimum Price Tick: $0.001

      ·         Value per Tick: $1.00

      ·         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).

      ·         All Month Accountability Level: STS, STB = 5,000/10,000;
      STI = 1,500/10,000; STR = 5,000/20,000

      ·         Any One Month Accountability Level: STS, STB = 5,000/10,000;
      STI = 1,500/10,000; STR = 5,000/20,000

      ·         Expiration Month Limit: STS, STB = 500/1,000; STI = 150/1,000; STR = 500/2,000

      ·         Reporting Level: 25

       

      ·         Exchange Fees:

      Exchange Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      n/a

      $0.85

      $1.05

      $1.25

       

      Globex

      n/a

      n/a

      n/a

      n/a

      n/a

      ClearPort

       

      $0.85

       

      $1.25

       

                 

      Processing Fees

           

       

      Member

      Non-Member

           

      Cash Settlement

      $0.10

      $0.10

       

      Futures from E/A

      n/a

      n/a

         

       

      House Acct

      Cust Acct

           

      Options E/A Notice

      n/a

      n/a

         

      Delivery Notice

      n/a

      n/a

         

       

       

             

      Additional Fees and Surcharges

             

      EFS Surcharge

      $0.00

       

      Block Surcharge

      $0.00

         

      Facilitation Desk Fee

      $0.20

       

      Should you have any questions or require any further information, please contact Owain Johnson at (65) 6593-5568 or Daniel Brusstar at 212-299-2604.