• Listing of Two Singapore Jet Fuel Crack Spread Swap Futures Contracts on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6221
      • Notice Date
      • 26 April 2012
      • Effective Date
      • 20 May 2012
    • Effective Sunday, May 20, 2012, for trade date Monday, May 21, 2012, and pending all relevant Commodity Futures Trading Commission regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following two Singapore jet fuel crack spread swap 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.
       
      CONTRACTS SPECIFICATIONS
       
      Contract
      Code
      Chapter
      Singapore Jet Kerosene (Platts) Dubai Crack Spread Swap Futures
      KSD
      1223
      Singapore Jet Kerosene (Platts) vs. DME Oman Crude Oil Swap Futures
      DRK
      1224
      ·        
       
       

      ·        First Listed Month: June 2012

      ·         Listing Period: 12 consecutive calendar months.
      ·         Contract Size: 1,000 barrels
      ·         Termination of Trading: Trading shall cease on the last business day of the contract month.
      ·         Minimum Price Tick: $0.001 (0.1¢) per barrel.
      ·         Value per Tick: $1 per barrel.
      ·         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).
      ·         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.
      ·         Fees:
      Exchange Fees
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      n/a
      $0.85
      $1.05
      $1.25
       
      Globex
      n/a
      n/a
      n/a
      n/a
      n/a
      ClearPort
       
      $0.85
       
      $1.25
       


      Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $0.10
      $0.10
      *only applies to financially settled contracts
      Futures from E/A
      n/a
      n/a
      *applies to futures contracts
       
      House Acct
      Cust Acct
      Options E/A Notice
      n/a
      n/a
      *applies to physical options
      Delivery Notice
      n/a
      n/a
      *applies to physical futures
       
       
      Additional Fees and Surcharges
      EFS Surcharge
      $0.00
      *$2.50 fee typically only charged on our core physical contracts
      Block Surcharge
      $0.00
      *$0.10 fee charged on block trades
      Facilitation Desk Fee
      $0.20
      *fee applies to CPC trades entered by ClearPort Market Ops

       
      Please refer questions on this subject to:
      Research and Product Development
      Richard Stevens                        Richard.Stevens@cmegroup.com                      +44 (20) 3379 3790
      Owain Johnson                         Owain.Johnson@cmegroup.com                        +65 6593 5568

      For the full Special Executive Report, please click here (PDF).

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.