• Listing of CSX and PRB Coal Option on Quarterly Futures Strip Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6192
      • Notice Date
      • 04 April 2012
      • Effective Date
      • 29 April 2012
    • Please be advised that effective Sunday, April 29, 2012, for trade date Monday, April 30, 2012, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list two (2) new coal option contracts for open outcry trading on the NYMEX trading floor and for clearing through CME ClearPortThe contractsare listed with, and subject to, the rules and regulations of NYMEX.
       
      SPECIFICATIONS SUMMARY:
       

      Contract Name
      CSX Coal (Platts OTC Broker Index) Option on Quarterly Futures Strip
      Powder River Basin Coal (Platts OTC Broker Index) Option on Quarterly Futures Strip
      Commodity Code
      CPF
      RPF
      Rule Chapter
      1079
      1080
      Option Type
      European style. Option will exercise into underlying futures upon expiration.
      European style. Option will exercise into underlying futures upon expiration.
      Underlying Futures
      CSX Coal (Platts OTC Broker Index) Swap Futures
      Powder River Basin Coal (Platts OTC Broker Index) Swap Futures
      Contract Unit
      3,000 tons
      3,000 tons
      Expiration
      The option contract shall expire at the close of trading on the first business day of the month prior to the delivery month of the first underlying month of the CSX Coal (Platts OTC Broker Index) Swap futures contract.
      The option contract shall expire at the close of trading on the first business day of the month prior to the delivery month of the first underlying month of the Powder River Basin Coal (Platts OTC Broker Index) Swap futures contract.
      Minimum Tick Size
      $0.01 per ton
      $0.01 per ton
      Strike Interval
      $0.25 per ton
      $0.25 per ton
      First Listed Contract
      July 2012
      July 2012
      Listing Convention
      Current year plus next three years
      Current year plus next three years

       
      ·         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
      $9.75
      $9.75
      $10.50
      $11.25
      Globex
      NA
      NA
      NA
      NA
      NA
      ClearPort
      $9.75
      $11.25
      Processing Fees
      Member
      Non-Member
      Cash Settlement
      NA
      NA
      Futures from E/A
      NA
      NA
      House Acct
      Cust Acct
      Options E/A Notice
      $0.40
      $0.85
      Delivery Notice
      NA
      NA
       
       
      Additional Fees and Surcharges
      EFS Surcharge
      NA
      Block Surcharge
      NA
      Facilitation Desk Fee
      $1.00

       
      Please refer questions on this subject to:
      Research and Product Development
      Robert Biolsi                             Bob.Biolsi@cmegroup.com                               212.299.2610
      Cameron Liao                            KengHui.Liao@cmegroup.com                           212.299.2613