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Listing of Four (4) European Biodiesel Contracts on the NYMEX Trading Floor and CME ClearPort
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- To
- Members, Member Firms and Market Users
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- From
- Research and Product Development
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- #
- SER-6011
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- Notice Date
- 11 November 2011
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- Effective Date
- 20 November 2011
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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
For more information please contact Richard Stevens at +44 20 3379 3790.
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