• Listing of ICE Brent (Singapore Marker) Swap Futures on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5905
      • Notice Date
      • 14 September 2011
      • Effective Date
      • 25 September 2011
    • Effective Sunday, September 25, 2011, for trade date Monday, September 26, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following crude oil swap futures contract for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. The 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 contract title, commodity code, rule chapter, and specifications are provided below:

      Contract

      Code

      Chapter

      ICE Brent (Singapore Marker) Swap Futures

      IBS

      1122

       

       

       

      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

             First Listed Month: October 2011

             Listing Period: 18 consecutive calendar months

             Contract Size: 1,000 barrels

             Termination of Trading: Trading shall cease on the last business day of the contract month

             Minimum Price Tick: $0.001 per barrel

             Value per Tick: $1 per barrel

             Final Settlement Price: minimum settlement tick = $0.001 per barrel

             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

      0.85

      Member

      0.85

      ICE Brent (Singapore Marker) Swap Futures

      Non-Member

      1.05

      Non-Member

      1.25

       

      Cross Divisional

      1.25

         

      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.