• Large Trader Requirements, All Month/Any One Month Accountability Levels, Expiration Month Position Limits, Diminishing Balances and Aggregation Allocations for Two (2) New Mini European Fuel Oil Swap Futures Contracts, and Insertion of the Contracts into the Header Notes in the Position Limit Table in Chapter 5 of the NYMEX Rulebook

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6341
      • Notice Date
      • 02 August 2012
      • Effective Date
      • 06 August 2012
    •  
      In connection with the launch of two (2) new Mini European Fuel Oil Swap Futures contracts on trade date August 6, 2012 (see SER-6306 dated July 18, 2012), please note below the corresponding all month/any one month accountability levels (NYMEX Rule 560), expiration month position limits (NYMEX Rule 559), reportable levels (NYMEX Rule 561), diminishing balances and aggregation allocations for the new contracts. These contracts will be added to the Position Limit, Position Accountability and Reportable Level Table located in the Interpretations and Special Notices Section of Chapter 5 of the NYMEX Rulebook. The commodity codes are provided for the Clearing Members that file reports pursuant to NYMEX Rule 561.A in a machine-readable format. 
       
      In addition, the new contracts will be added to the NYMEX Chapter 5 Header Notes Section to clarify that the two (2) new Mini European Fuel Oil Swap Futures contracts shall be deemed equivalent to .10 of the quantity of the respective base contract into which it aggregates. 
       
      Contract related questions can be directed to Chris Reinhardt, Director, Market Surveillance, at 212.299.2882, and Ryne Toscano, Supervisor, Market Surveillance, at 212.299.2879.
       


      NYMEX Rulebook Chapter 5 Position Limit Table
      (Bold/underlining indicates additions)
       

      Contract Name
      Rule Chap-ter
      Com-modity Code
      Diminish- ing Balances Contracts
      All Month Account-ability Level
      Any One Month Account-ability Level
      Expira-tion Month Limit
      Report-ing Level
      Aggre-gate Into (1)
       
       
       
       
      Rule 560
      Rule 560
      Rule 559
      Rule 561
       
      Petroleum
       
       
       
       
       
       
       
       
      Mediterranean
       
       
       
       
       
       
       
       
      Genoa/Lavera
       
       
       
       
       
       
       
       
      Mini 1% Fuel Oil Cargoes FOB MED (Platts) Swap Futures
      1247
      MFD
      *
      1,500
      1,500
      150
      25
      EFM
      Mini 3.5% Fuel Oil (Platts) Cargoes FOB MED Calendar Swap Futures
      1248
      MMF
      *
      1,500
      1,500
      150
      25
      UI

       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
      Interpretations and Special Notices Relating to Chapter 5
      Position Limit, Position Accountability and Reportable Level Table
      Header Notes
       
      1.  ….
       
      The following Mini Petroleum contracts shall be deemed equivalent to .10 of the quantity of the corresponding base contract into which each Mini Petroleum contract aggregates:
       
      Mini 3.5% Fuel Oil (Platts) Cargoes FOB MED Calendar Swap Futures
      Mini 3.5% Fuel Oil (Platts) Cargoes FOB MED Calendar Swap Futures
       
       

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