Effective Sunday, August 7, 2011, for trade date Monday, August 8, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the Coal (API 6) fob Newcastle (ARGUS-McCloskey) Swap futures contract for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. This futures contract will be financially settled. The contract is 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 futures contract will be governed by the provisions of Exchange Rule 538.
CONTRACT SPECIFICATIONS
• Commodity Code: NCL
· First Listed Month: September 2011
• Listing Period: Current year and next full year.
• Contract Size: 1,000 metric tons
• Termination of Trading: Trading shall cease on the last Friday of the contract month or the prior business day if Friday is a UK Banking holiday
• Minimum Price Tick: $0.01 per metric ton
• Value per Tick: $10 per metric ton
• Final Settlement Price: Settlement tick = $0.01
· Rule Chapter: 1109
· 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).
· Fees:
Contract |
Transaction / Clearing Fee |
Cash Settlement Fee |
||
|
Member |
5.00 |
Member |
1.00 |
Coal (API 6) fob Newcastle (Argus/McCloskey) Swap Futures |
Non-Member |
7.00 |
Non-Member |
1.00 |
|
Cross-Divisional |
6.00 |
Cross-Divisional |
1.00 |
Should you have any questions or require any further information, please contact Owain Johnson at (65) 6593-5568 or Richard Stevens at (44) 20-7796-7129.