• Listing of Three (3) New Emission Option Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Products and Services & Research and Product Development
      • #
      • SER-6479
      • Notice Date
      • 04 December 2012
      • Effective Date
      • 13 January 2013
    • Effective Sunday, January 13, 2013, for trade date of Monday, January 14, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list three (3) new emission option contracts for electronic trading on CME Globex and for submission for clearing through CME ClearPort.  These contracts are listed with, and subject to, the rules and regulations of NYMEX.
      SPECIFICATION SUMMARY:
       

      Contract Name
      Code
      Rule Chapter
      Listing Schedule
      First Listed Month
      Certified Emission Reduction Plus (CERplus) Option
      PCL
      1265
      First three consecutive contracts months plus eight quarterly contracts on a rolling basis, starting with the nearest quarter; December contract month of subsequent years through 2020.
      January-13
      Certified Emission Reduction Plus (CERplus) Serial Option
      CPE
      1266
      First three consecutive contracts months plus eight quarterly contracts on a rolling basis, starting with the nearest quarter; December contract month of subsequent years through 2020.
      January-13
      Emission Reduction Unit (ERU) Serial Option
      RUE
      1267
      First three consecutive contracts months plus eight quarterly contracts on a rolling basis through March 2015.
      January-13

      Contract Size:
      ·         CERplus Option and Serial Option: The unit of trading shall be 1,000 CER credits.
      ·         ERU Serial Option: The unit of trading shall be 1,000 ERU credits.
      Minimum Price Fluctuation:
      ·         CERplus Option and Serial Option: The minimum price fluctuation shall be one Euro cent (€0.01) per CER credit (€10.00 per contract).  Prices shall be quoted in Euros and Euro cents per CER credit.
      ·         ERU Serial Option: The minimum fluctuation shall be one Euro cent (€0.01) per ERU credit (€10.00 per contract). Prices shall be quoted in Euros and Euro cents per ERU credit.
      Last Trading Day:
      ·         CERplus Option: The contract shall expire at the close of trading three business days prior to the expiration of the underlying Certified Emission Reduction Plus (CERplus) Futures contract.
      ·         CERplus Serial Option:  The contract shall expire at the close of trading three business days prior to the expiration of the closest contract month of the underlying Certified Emission Reduction Plus (CERplus) Futures contract.
      ·         ERU Serial Option:  The contract shall expire at the close of trading three business days prior to the expiration of the closest contract month of the underlying Emission Reduction Unit (ERU) Futures contract.
      CME Globex and CME ClearPort Trading Hours:  Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).
      Fee Schedule:
      Certified Emission Reduction (CERplus) Option

      Exchange Fees
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      n/a
      n/a
      n/a
      n/a
       
      Globex
      n/a
      $3.00
      n/a
      $3.00
      n/a
      ClearPort
       
      $3.00
       
      $3.00
       
      Processing Fees
       
      Member
      Non-Member
      Cash Settlement
       
       
      *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
      $0.85
      $0.85
      *applies to physical options
      Delivery Notice
      $1.00
      $1.00
      *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

       
      Certified Emission Reduction (CERplus) Serial Option

      Exchange Fees
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      n/a
      n/a
      n/a
      n/a
       
      Globex
      n/a
      $3.00
      n/a
      $3.00
      n/a
      ClearPort
       
      $3.00
       
      $3.00
       
      Processing Fees
       
      Member
      Non-Member
      Cash Settlement
       
       
      *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
      $0.85
      $0.85
      *applies to physical options
      Delivery Notice
      $1.00
      $1.00
      *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

      Emission Reduction Unit (ERU) Serial Option

      Exchange Fees
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      n/a
      n/a
      n/a
      n/a
       
      Globex
      n/a
      $3.00
      n/a
      $3.00
      n/a
      ClearPort
       
      $3.00
       
      $3.00
       
      Processing Fees
       
      Member
      Non-Member
      Cash Settlement
       
       
      *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
      $0.85
      $0.85
      *applies to physical options
      Delivery Notice
      $1.00
      $1.00
      *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
      Greg Price                                Gregory.Price@cmegroup.com                          (212) 299-2625
       
      Products and Services
      Henrik Hasselknippe                  Henrik.Hasselknippe@cmegroup.com                (44) 203-379-3735
      Joanna McMaster                     Joanna.McMaster@cmegroup.com                    (44) 203-379-3837

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