Effective Sunday, July 10, 2011, for trade date Monday, July 11, 2011, the New York Mercantile Exchange Inc. (NYMEX or Exchange) will list the following fertilizer swap futures contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort.
Product |
NYMEX Product Code |
Rule Chapter |
Urea (Granular) FOB NOLA Swap Future |
UFN |
1080 |
UAN FOB US Gulf Coast Swap Futures |
UFU |
1081 |
DAP FOB Tampa Swap Futures |
DFT |
1082 |
DAP FOB NOLA Swap Futures |
DFL |
1083 |
The contracts will be listed with NYMEX, and subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.
SUMMARY CONTRACT SPECIFICATIONS:
Contract Unit:
DFT: 100 metric tons
UFN, UFU, DFL: 100 short tons
Price Quotation:
DFT: US dollars and cents per metric ton
UFN, UFU, DFL: US dollars and cents per short ton
Minimum Price Tick: $0.25
Minimum Price Tick for Final Settlement: $0.01
Listing Period: 12 consecutive calendar months
First Listed Month: July 2011
Termination of Trading: Last Thursday of the contract month
Open Outcry Hours: Monday – Friday 9:00 a.m. to 2:30 p.m. (8:00 a.m. to 1:30 p.m. Chicago Time/CT)
CME ClearPort Hours: 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)
Settlement Methodology: Financial
Final Settlement Price:
UFN, UFU: An average of prices published during the contract month by Reed Business Information Ltd (“ICIS”) and Profercy Ltd, as described in the relevant Rule Chapter
DFT, DFT: An average of prices published during the contract month by Reed Business Information Ltd (“ICIS”) and Profercy Phosphates SC, as described in the relevant Rule Chapter
Exchange Fees
Fees in respect of these four contracts have been set as follows:
Exchange Fees |
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|
Member Day |
Member |
Cross Division |
Non-Member |
IIP |
||||
Pit |
n/a |
$4.00 |
$4.50 |
$5.00 |
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Globex |
n/a |
n/a |
n/a |
n/a |
n/a |
||||
ClearPort |
$4.00 |
n/a |
$5.00 |
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Other Processing Fees |
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|
Member |
Non-Member |
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Cash Settlement |
$4.00 |
$5.00 |
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Futures from E/A |
n/a |
n/a |
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|
House Acct |
Customer Acct |
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Options E/A Notice |
n/a |
n/a |
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Delivery Notice |
n/a |
n/a |
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Additional Fees and Surcharges |
|
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EFS Surcharge |
n/a |
||||
Block Surcharge |
n/a |
||||
Facilitation Desk Fee |
$0.20 |
For further information please contact Brian Corrigan at 312 338 2653, or Richard Stevens at
+44 20 7796 7129.