• Listing of New Coal (API 5) fob Newcastle (Argus/McCloskey) Futures

      • To
      • Members, Member Firms and Market Makers
      • From
      • Research and Product Development
      • #
      • SER-6638
      • Notice Date
      • 14 May 2013
      • Effective Date
      • 16 June 2013
    • Effective Sunday, June 16, 2013, for trade date Monday, June 17, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will launch a new coal futures contract for trading on CME Globex and the NYMEX trading floor, and for submission for clearing through CME ClearPort.
       
      The contract titles, commodity codes, rule chapters, and specifications are provided below: 
                 

      Contract Name
      Coal (API 5) fob Newcastle (Argus/McCloskey) Futures
      Commodity Code
      ACM
      Chapter
      1104
      Settlement Type
      Financial
      Contract Size
      1,000 metric tons
      Termination of Trading
      Trading shall cease on the last Friday of the contract month. If such Friday is a UK holiday, the contract will terminate on the UK business day immediately prior to the last Friday of the contract month unless such day is not an Exchange business day, in which case the contract shall terminate on the Exchange business day immediately prior. 
      Minimum Price Fluctuation
      $0.05 per metric ton
      Final Settlement Price Tick
      $0.01 per metric ton
      Floating Price
      The Floating Price for each contract month shall be equal to the API 5 fob Newcastle 5,500 kcal/kg Monthly Coal Price Index published in the Argus/McCloskey’s Coal Price Index Report (i.e. being the average of weekly prices during the contract month)
      First Listed Month
      June 2013
      Listing Convention
      Open Outcry and CME ClearPort: The current year and the next calendar year
       
      CME Globex: The nearest six calendar months

       
       
       
       
       

      Trading Hours
       
      Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. Chicago Time/CT)
       
      CME Globex and 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
      n/a
      $5.00
      $6.00
      $7.00
      Globex
      n/a
      $5.00
      $6.00
      $7.00
      $6.00
      ClearPort
      $5.00
      $7.00
      Other Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $1.00
      $1.00
       
      Futures from E/A
      n/a
      n/a
       
       
      House Acct
      Customer Acct
       
      Options E/A Notice
      n/a
      n/a
       
      Delivery Notice
      n/a
      n/a
       

       

      Additional Fees and Surcharges
       
      EFS Surcharge
      n/a
       
      Block Surcharge
      n/a
       
      Facilitation Desk Fee
      $0.20
       

       
      For additional information, please contact:
       
      Richard Stevens         Richard.Stevens@cmegroup.com      +44 20 3379 3790
      Joanna McMaster      Joanna.McMaster@cmegroup.com   +44 20 3379 3937

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