• Listing of SoCal Swap (Platts IFERC) Futures

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5802
      • Notice Date
      • 14 June 2011
      • Effective Date
      • 26 June 2011
    • Please be advised that effective Sunday, June 26, 2011, for trade date Monday, June 27, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list a new natural gas swap contract, SoCal Swap (Platts IFERC) Futures, for open outcry trading and for clearing through CME ClearPort.  The contract is listed with NYMEX, and subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.

      CONTRACT SPECIFICATIONS:

      ·         Commodity Code: XN

      ·         Floating Price: Floating Price for each contract month will be equal to the bidweek price (average) (Bidweek Price) for the Southern California Gas Co. under the California heading found in Platts Inside Ferc (IFERC) Gas Market ReportMarket Center Spot Gas Prices, for the corresponding contract month.

      ·         Settlement Type: Financial

      ·         Contract Unit: 2,500 MMBtu

      ·         Termination Date: Last business day of the month prior to the contract month.

      ·         Minimum Price Fluctuation: $0.0001 per MMBtu

      ·         First Listed Month: July 2011

      ·         Listing Period: balance of current year + 5 consecutive years

      ·         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:

      Exchange Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      $0.54

      $0.54

      $0.61

      $0.67

       

      Globex

      NA

      NA

      NA

      NA

      NA

      ClearPort

       

      $0.54

       

      $0.67

       
                 

      Processing Fees

           
       

      Member

      Non-Member

           

      Cash Settlement

      $0.10

      $0.10

       

      Futures from E/A

      NA

      NA

         
       

      House Acct

      Cust Acct

           

      Options E/A Notice

      NA

      NA

         

      Delivery Notice

      NA

      NA

         
                 

      Additional Fees and Surcharges

             

      EFS Surcharge

      NA

       

      Block Surcharge

      NA

         

      Facilitation Desk Fee

      $0.05

       
                   

      For more information, please contact Brad Leach at (212) 299-2609 or Pat McKinnon at (713) 658-9299.