Effective Sunday, November 20, 2011, for trade date Monday November 21, 2011, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list four biodiesel futures 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, and subject to, the rules and regulations of NYMEX.
Contract Specifications:
The contract specifications are as follows:
Contract Title |
RME Biodiesel (Argus) fob Rdam (RED Compliant) Swap Future |
FAME 0 (Argus) Biodiesel fob Rdam (RED Compliant) Swap Future |
RME Biodiesel (Argus) fob Rdam (RED Compliant) vs. ICE Gasoil Spread Swap Future |
FAME 0 Biodiesel (Argus) fob Rdam (RED Compliant) vs. ICE Gasoil Spread Swap Future |
Commodity Code |
RBF |
FBD |
BFR |
FBT |
Contract Size |
100 metric tons |
100 metric tons |
100 metric tons |
100 metric tons |
First Listed Month |
December 2011 |
December 2011 |
December 2011 |
December 2011 |
Listing Period |
24 consecutive months |
24 consecutive months |
24 consecutive months |
24 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. |
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 per metric ton |
$0.001 per metric ton |
$0.001 per metric ton |
$0.001 per metric ton |
Value per Tick |
$0.10 |
$0.10 |
$0.10 |
$0.10 |
Settlement Tick |
$0.001 |
$0.001 |
$0.001 |
$0.001 |
Rule Chapter |
1149 |
1147 |
1150 |
1148 |
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).
Trading and Clearing Fees:
For the RME Biodiesel (Argus) fob Rdam (RED Compliant) Swap Future and the FAME 0 (Argus) Biodiesel fob Rdam (RED Compliant) Swap Future, fees are as follows:
Exchange Fees |
||||||||||
|
Member Day |
Member |
Cross Division |
Non-Member |
IIP |
|||||
Pit |
n/a |
$0.85 |
$1.10 |
$1.35 |
||||||
Globex |
n/a |
n/a |
n/a |
n/a |
n/a |
|||||
ClearPort |
$0.85 |
$1.35 |
||||||||
Other Processing Fees |
Additional Fees and Surcharges |
|||||||||
|
Member |
Non-Member |
EFS Surcharge |
n/a |
||||||
Cash Settlement |
$0.85 |
$1.35 |
Block Surcharge |
n/a |
||||||
Futures from E/A |
n/a |
n/a |
Facilitation Desk Fee |
$0.10 |
||||||
|
House Acct |
Customer Acct |
|
|
||||||
Options E/A Notice |
n/a |
n/a |
|
|
||||||
Delivery Notice |
n/a |
n/a |
|
|
||||||
For the RME Biodiesel (Argus) fob Rdam (RED Compliant) vs. ICE Gasoil Spread Swap Future and the FAME 0 Biodiesel (Argus) fob Rdam (RED Compliant) vs. ICE Gasoil Spread Swap Future, fees are as follows:
Exchange Fees |
||||||||||
|
Member Day |
Member |
Cross Division |
Non-Member |
IIP |
|||||
Pit |
n/a |
$1.70 |
$2.20 |
$2.70 |
||||||
Globex |
n/a |
n/a |
n/a |
n/a |
n/a |
|||||
ClearPort |
$1.70 |
$2.70 |
||||||||
Other Processing Fees |
Additional Fees and Surcharges |
|||||||||
|
Member |
Non-Member |
EFS Surcharge |
n/a |
||||||
Cash Settlement |
$1.70 |
$2.70 |
Block Surcharge |
n/a |
||||||
Futures from E/A |
n/a |
n/a |
Facilitation Desk Fee |
$0.10 |
||||||
|
House Acct |
Customer Acct |
|
|
||||||
Options E/A Notice |
n/a |
n/a |
|
|
||||||
Delivery Notice |
n/a |
n/a |
|
|
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For more information please contact Richard Stevens at +44 20 3379 3790.