Listing of Dated Brent (Platts) Average Price Option Contract

Please be advised that effective Sunday, July 10, 2011, for trade date Monday, July 11, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list a crude oil option contract, Dated Brent (Platts) Average Price Option, for open outcry trading and for clearing through CME ClearPort.  The contract will be 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 this option contract will be governed by the provisions of Exchange Rule 538.

OPTION SPECIFICATIONS:

·         Contract Name: Dated Brent (Platts) Average Price Option

·         Commodity Code: DBP

·         Rule Chapter:  1078

·         Option Type: Financially settled; European-style – exercise only upon expiration

·         Underlying Futures: Dated Brent (Platts) Calendar Swap Futures (UB)

·         Contract Unit: 1,000 barrels

·         Expiration Date: Last business day of the contract month

·         Minimum Price Fluctuation: $0.01 per barrel

·         Strike Price Intervals: $0.05 per barrel

·         First Listed Month: July 2011

·         Trading Month: 36 consecutive months

·         Trading Hours:

Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 p.m. – 1:30 p.m. Chicago Time/CT).

CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).

·         Fee Schedule:

For additional information, please contact Robert Biolsi at (212) 299-2610.