• Listing of Singapore Fuel Oil 180 cst vs. 380 cst Spread (Platts) BALMO Swap Futures

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6104
      • Notice Date
      • 25 January 2012
      • Effective Date
      • 26 February 2012
    • Effective Sunday, February 26, 2012, for trade date Monday, February 27, 2012, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following fuel oil swap futures contract for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. This futures contract will be financially settled. The contract is listed with, and subject to the rules and regulations of NYMEX.
      The contract title, commodity code, rule chapter, and specifications are provided below:

      Contract
      Code
      Chapter
      Singapore Fuel Oil 180 cst vs. 380 cst Spread (Platts) BALMO Swap Futures
      MSD
      1192

      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: March 2012
      •       Listing Period: 1 month and the following month, listed 10 business days prior to the start of the contract month.
      •       Contract Size: 1,000 metric tons.
      •       Termination of Trading: Trading shall cease on the last trading day of the contract month.
      •       Minimum Price Tick: $0.001 per metric ton.
      •       Value per Tick: $1 per metric ton.
      •       Final Settlement Price: Settlement tick = $0.001
      •       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 
      Singapore Fuel Oil 180 cst vs. 380 cst Spread (Platts) BALMO Swap Futures 
      Member
      7.00
      Member
      6.00
      Non-Member
      9.00
      Non-Member
      9.00
      Cross-Division
      8.00

      Please refer questions on this subject to:
      Research and Product Development:
      Richard Stevens                        Richard.Stevens@cmegroup.com                      +44 20 7796 7129
      Dan Brusstar                             Daniel.Brusstar@cmegroup.com                       212.299.2604
      Owain Johnson                         Owain.Johnson@cmegroup.com                        +65 6593 5568

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