Please be advised that the launch schedule for NY Ultra Low Sulfur Diesel (ULSD) futures and options will be revised, and will become effective Sunday, November 20, 2011, for trade date Monday, November 21, pending all relevant CFTC regulatory periods. The slate of new products has changed, as listed below. These new futures and options based on the NY Ultra Low Sulfur Diesel market will be listed for open outcry trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. The contracts are listed with, and subject to, the rules and regulations of NYMEX.
SUMMARY OF SPECIFICATIONS:
· Futures contracts:
CONTRACT NAME |
CHAPTER |
CODE |
CONTRACT UNIT |
MINIMUM PRICE FLUCTUATION |
EXPIRATION |
LISTING CONVENTION |
NY ULSD Crack Spread Swap Futures |
1157 |
UCF |
1,000 barrels |
$0.001 |
Last business day of the contract month |
Current year and next 4 years |
RBOB vs. NY ULSD Swap Futures |
1158 |
RVU |
42,000 gallons |
$0.0001 |
Last business day of the contract month |
Current year and next 4 years |
NY ULSD Calendar Swap Futures |
1167 |
USF |
42,000 gallons |
$0.0001 |
Last business day of the contract month |
Current year and next 4 years |
NY ULSD BALMO Swap Futures |
1168 |
UBS |
42,000 gallons |
$0.0001 |
Last business day of the contract month |
One month and the following month listed 10 business days prior to the start of the contract month |
NY ULSD Last Day Financial Swap Futures |
1169 |
ULF |
42,000 gallons |
$0.0001 |
Last business day of the contract month |
Current year and next 4 years |
NY ULSD Crack Spread BALMO Swap Futures |
1174 |
UBC |
1,000 barrels |
$0.001 |
Last business day of the contract month |
One month and the following month listed 10 business days prior to the start of the contract month |
· Option Contracts:
CONTRACT NAME |
CHAPTER |
CODE |
CONTRACT UNIT |
MINIMUM PRICE FLUCTUATION |
EXPIRATION |
LISTING CONVENTION |
STRIKE PRICE INTERVALS |
NY ULSD Average Price Option |
1170 |
UAO |
42,000 gallons |
$0.0001 |
Last business day of the contract month |
Current year and next 4 years |
$0.0001 |
NY ULSD Calendar Spread Option |
1171 |
UCA; UCB;UCC;UMM;UCZ |
42,000 gallons |
$0.0001 |
Last business day of the contract month |
Current year and next 4 years |
$0.0001 |
NY ULSD Crack Spread Option |
1172 |
UCO |
1,000 barrels |
$0.01 |
Last business day of the contract month |
Current year and next 4 years |
$0.25 |
NY ULSD Crack Spread Average Price Option |
1173 |
UCP |
1,000 barrels |
$0.001 |
Last business day of the contract month |
Current year and next 4 years |
$0.25 |
· Trading Hours:
Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. Chicago Time/CT).
CME ClearPort: 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).
· Futures Contracts Fee Schedule:
Exchange Fees For Futures Contracts |
||||||
Member Day |
Member |
Cross Division |
Non-Member |
IIP |
||
Pit |
NA |
$0.85 |
$1.10 |
$1.35 |
||
Globex |
NA |
NA |
NA |
NA |
NA |
|
ClearPort |
$0.85 |
$1.35 |
||||
Processing Fees |
||||||
Member |
Non-Member |
|||||
Cash Settlement |
$0.10 |
$0.10 |
||||
Futures from E/A |
NA |
NA |
||||
House Acct |
Cust Acct |
|||||
Options E/A Notice |
NA |
NA |
||||
Delivery Notice |
NA |
NA |
||||
|
|
|||||
Additional Fees and Surcharges |
||||||
EFS Surcharge |
NA |
|||||
Block Surcharge |
NA |
|||||
Facilitation Desk Fee |
$0.20 |
|||||
· Option Contracts Fee Schedule:
1. NY ULSD Average Price Option (Chapter: 1170; Code: UAO)
2. NY ULSD Crack Spread Average Price Option (Chapter: 1173; Code: UCP)
Exchange Fees |
|||||||
Member Day |
Member |
Cross Division |
Non-Member |
IIP |
|||
Pit |
$0.45 |
$0.70 |
$0.95 |
$1.45 |
|||
Globex |
NA |
NA |
NA |
NA |
NA |
||
ClearPort |
$1.75 |
$2.50 |
|||||
Processing Fees |
Additional Fees and Surcharges |
||||||
Member |
Non-Member |
EFS Surcharge |
NA |
||||
Cash Settlement |
$0.10 |
$0.10 |
Block Surcharge |
NA |
|||
Futures from E/A |
NA |
NA |
Facilitation Desk Fee |
$0.20 |
|||
House Acct |
Cust Acct |
|
|||||
Options E/A Notice |
NA |
NA |
|||||
Delivery Notice |
NA |
NA |
|||||
3. NY ULSD Calendar Spread Option (Chapter: 1171; Code: UCA, UCB, UCC, UMM, UCZ)
4. NY ULSD Crack Spread Option (Chapter: 1172; Code: UCO)
Exchange Fees |
|||||||
Member Day |
Member |
Cross Division |
Non-Member |
IIP |
|||
Pit |
$0.45 |
$0.70 |
$0.95 |
$1.45 |
|||
Globex |
NA |
NA |
NA |
NA |
NA |
||
ClearPort |
$1.75 |
$2.50 |
|||||
Processing Fees |
Additional Fees and Surcharges |
||||||
Member |
Non-Member |
EFS Surcharge |
NA |
||||
Cash Settlement |
NA |
NA |
Block Surcharge |
NA |
|||
Futures from E/A |
NA |
NA |
Facilitation Desk Fee |
$0.20 |
|||
House Acct |
Cust Acct |
||||||
Options E/A Notice |
$0.40 |
$0.85 |
|||||
Delivery Notice |
NA |
NA |
|||||
For additional information, please contact Dan Brusstar at (212) 299-2604 or Robert Biolsi at (212) 299-2610.