• Listing of Asian Gasoline and Naphtha Average Price Options on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6277
      • Notice Date
      • 14 June 2012
      • Effective Date
      • 01 July 2012
    • Effective Sunday, July 1, 2012, for trade date Monday, July 2, 2012, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following Asian Gasoline and Naphtha Average Price Option contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. These option contracts will be financially settled. The contracts will be listed with, and subject to, the rules and regulations of NYMEX.
      CONTRACT SPECIFICATIONS
       

      Contract
      Code
      Chapter
      Singapore Mogas 92 Unleaded (Platts) Average Price Option
      1N5
      1245
      Japan C&F Naphtha (Platts) Average Price Option
      JA5
      1246

       
       
       
       
      ·         First Listed Month: July 2012
      ·         Listing Period: 24 consecutive calendar months.
      ·         Contract Size: 1N5 =1,000 barrels; JA5 = 1,000 metric tons
      ·         Termination of Trading: Trading shall cease on the last business day of the contract month
      ·         Minimum Price Tick: 1N5 =$0.001 (0.1¢) per barrel; JA5 = $0.001 (0.1¢) per metric ton
      ·         Value per Tick: 1N5 =$1 per barrel; JA5 = $1 per metric ton
      ·         Final Settlement Price: Settlement tick = $0.001
      ·         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).
      ·         Fees:

      Singapore Mogas 92 Unleaded (Platts) Average Price Option
       
      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
      $0.85
      $1.25
       
      Futures from E/A
      n/a
      n/a
       
      House Acct
      Cust Acct
      Options E/A Notice
      n/a
      n/a
      Delivery Notice
      n/a
      n/a
      Additional Fees and Surcharges
      EFS Surcharge
      $0.00
      Block Surcharge
      $0.00
      Facilitation Desk Fee
      $0.40

       
       

      Japan C&F Naphtha (Platts) Average Price Option
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      n/a
      $6.00
      $7.50
      $9.00
       
      Globex
      n/a
      n/a
      n/a
      n/a
      n/a
      ClearPort
       
      $6.00
       
      $9.00
       
      Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $6.00
      $9.00
      Futures from E/A
      n/a
      n/a
       
      House Acct
      Cust Acct
      Options E/A Notice
      n/a
      n/a
      Delivery Notice
      n/a
      n/a
      Additional Fees and Surcharges
      EFS Surcharge
      $0.00
      Block Surcharge
      $0.00
      Facilitation Desk Fee
      $0.40

       
      Please refer questions on this subject to:
      Research and Product Development
      Richard Stevens                        Richard.Stevens@cmegroup.com                      +44 (20) 3379 3790
      Elizabeth Hui                             Elizabeth.Hui@cmegroup.com                         +44 (20) 3379 3707
      Owain Johnson                         Owain.Johnson@cmegroup.com                        +65 6593 5568

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