• Listing of Two (2) Petroleum Futures on the NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5904
      • Notice Date
      • 30 August 2011
      • Effective Date
      • 11 September 2011

    • Effective Sunday, September 11, 2011, for trade date Monday September 12, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list two petroleum spread contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. These futures contracts will be financially settled. The contracts are listed with NYMEX, and subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc. 

      Contract Specifications:

      Contract Title

      Gasoil 50 ppm Barges FOB Rdam vs. Gasoil 0.1% (Platts) Barges FOB Rdam Swap Futures

      European Diesel 10 ppm Barges FOB Rdam vs. Gasoil 50 ppm (Platts) Barges FOB Rdam Swap Futures

      Commodity Code

      GFN

      ENF

      Contract Size

      1,000 metric tons

      1,000 metric tons

      First Listed Month

      October 2011

      October 2011

      Listing Period

      36 consecutive months

      36 consecutive months

      Termination of Trading

      Trading shall cease on the last business day of the contract month.

      Trading shall cease on the last business day of the contract month.

      Minimum Price Intervals

      $0.001

      $0.001

      Value per Tick

      $1.00

      $1.00

      Settlement Tick

      $0.001

      $0.001

      Rule Chapter

      1123

      1124

      The Exchange will allow the exchange for related position (EFRP) transactions to be submitted through CME ClearPort.  EFRP transactions in these futures contracts will be governed by the provisions of Exchange Rule 538.

      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

      CME ClearPort Rates

      NY Trading Floor Rates

      Cash Settlement Fee

      Gasoil 50 ppm Barges FOB Rdam vs. Gasoil 0.1% (Platts) Barges FOB Rdam Swap Futures

      Member

      $6.00

      Member

      $6.00

      Member

      $6.00

      Non-Member

      $9.00

      Non-Member

      $9.00

      Non-Member

      $9.00

       

      Blended Floor

      $7.50

       

      European Diesel 10 ppm Barges FOB Rdam vs. Gasoil 50 ppm (Platts) Barges FOB Rdam Swap Futures

      Member

      $6.00

      Member

      $6.00

      Member

      $6.00

      Non-Member

      $9.00

      Non-Member

      $9.00

      Non-Member

      $9.00

       

      Blended Floor

      $7.50

       

       

      For more information please contact Daniel Brusstar at 212-299-2604 or Elizabeth Hui at 212-299-2623.

       

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