• Listing of Western Canadian Select (WCS) Crude Oil Option

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6170
      • Notice Date
      • 23 March 2012
      • Effective Date
      • 15 April 2012
    • Please be advised that effective Sunday, April 15, 2012, for trade date Monday, April 16, 2012, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list a new Western Canadian Select (WCS) Crude Oil option contract for open outcrytrading and for clearing through CME ClearPort. The contractis listed with, and subject to, the rules and regulations of NYMEX.
      SPECIFICATION SUMMARY:
      ·         Contract Name: Western Canadian Select (WCS) Crude Oil Option
      ·         Commodity Code: WCO
      ·         Chapter: 1212
      ·         Option Type: Physically settled, American style option
      ·         Underlying Futures:Western Canadian Select (WCS) Crude Oil Futures (WCE)
      ·         Contract Unit:1,000 barrels
      ·         Expiration Date: Trading will cease three business days prior to the expiration of the underlying Western Canadian Select (WCS) Crude Oil Futures (WCE).
      ·         Minimum Price Fluctuation:$0.01 per barrel
      ·         Strike Price Intervals: $0.05 per barrel
      ·         First Listed Contract: June 2012
      ·         Listing Convention: 24 consecutive months.
      ·         Trading Hours:
      Open Outcry: Monday – Friday 9:00a.m. – 2:30 p.m. (8:00 a.m. – 1:30p.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).
      ·         Fee Schedule:

      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 Sheila Rule at (403) 444-5493 or Cameron Liao at (212) 299-2613.

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2024 CME Group Inc. All rights reserved.