• Listing of Coal (API 6) fob Newcastle (ARGUS-McCloskey) Swap Futures on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5855
      • Notice Date
      • 20 July 2011
      • Effective Date
      • 07 August 2011
    • 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.