• Listing of Four Fertilizer Swap Futures Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5812
      • Notice Date
      • 22 June 2011
      • Effective Date
      • 10 July 2011
    • 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

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      n/a

      $4.00

      $4.50

      $5.00

       

      Globex

      n/a

      n/a

      n/a

      n/a

      n/a

      ClearPort

       

      $4.00

      n/a

      $5.00

       
                 

      Other Processing Fees

           

       

      Member

      Non-Member

           

      Cash Settlement

      $4.00

      $5.00

       

      Futures from E/A

      n/a

      n/a

       

       

      House Acct

      Customer Acct

       

      Options E/A Notice

      n/a

      n/a

       

      Delivery Notice

      n/a

      n/a

       
                         

      Additional Fees and Surcharges

           

       

      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.