• Amendments to Expiration Month Position Limits, All Month/Any One Month Accountability Levels, and Diminishing Balance Contract Status for Eight (8) NYMEX Coal Futures and Option Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6711
      • Notice Date
      • 27 June 2013
      • Effective Date
      • 30 June 2013
    • Please be advised that effective Sunday, June 30, 2013, for trade date Monday, July 1, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will implement the following amendments to the position limits and accountability levels that apply to the eight (8) NYMEX coal contracts, which are available for trading on the NYMEX trading floor and CME Globex, and for submission for clearing through CME ClearPort:
       
      • an amendment to the single month position limit for the Coal (API2) CIF ARA (ARGUS-McCloskey) Futures contract (commodity code MTF), and contracts that aggregate into this contract;
      • an amendment to the single month position limit, the single month accountability level and the all month accountability level for the Coal (API 6) fob Newcastle (ARGUS-McCloskey) Futures contract (commodity code NCL); and
      • an amendment to the diminishing balance contract status for the Coal (API2) CIF ARA (ARGUS-McCloskey) Futures contract (commodity code MTF), the Coal (API 2) cif ARA (ARGUS/McCloskey) Option (commodity code MTO), the Coal (API4) FOB Richards Bay (ARGUS-McCloskey) Futures contract (commodity code MFF), Coal (API 4) fob Richards Bay (ARGUS/McCloskey) Option (commodity code MFO), the Coal (API 6) fob Newcastle (ARGUS-McCloskey) Futures contract (commodity code NCL) and the Coal (API 8) cfr South China (Argus/McCloskey) Futures contract (commodity code SSI).
       
      These amendments are described in the following table. These amendments will be inserted into the NYMEX Position Limit, Position Accountability and Reportable Level Table located in the Interpretations and Special Notices Section of Chapter 5 of the NYMEX Rulebook.
       
       


      (Bold/underline indicates addition, Strikethrough indicates deletions)
       

      Contract Name
      Rule Chap-ter
      Com-modity Code
      Diminish-ing Balance Contract
      Spot-Month Aggregate Into Futures Equivalent Leg (1)
      Initial Spot-Month Limit (In Net Futures Equiva-lents)
      Single Month Account-ability Level Leg (1)
      All Month Account-ability Level Leg (1)
      Report-ing Level
       
      Coal (API4) FOB Richards Bay (ARGUS-McCloskey) Futures
      928
      MFF
      Y
      MFF
      2,500
      5,000
      5,000
      25
       
      Coal (API 4) fob Richards Bay (ARGUS/McCloskey) Option
      929
      MFO
      Y
      MFF
      2,500
      5,000
      5,000
      25
       
      Coal (API 2) cif ARA (ARGUS - McCloskey) Option on Calendar Futures Strip
      910
      CLA
       
      MTF
      3,500 2,000
      7,000
      7,000
      25
       
      Coal (API 2) cif ARA (ARGUS - McCloskey) Option on Quarterly Futures Strip
      909
      CQA
       
      MTF
      3,500 2,000
      7,000
      7,000
      25
      Coal (API2) CIF ARA (ARGUS-McCloskey) Futures
      926
      MTF
      Y
      MTF
      3,500 2,000
      7,000
      7,000
      25
      Coal (API 2) cif ARA (ARGUS/McCloskey) Option
      927
      MTO
      Y
      MTF
      3,500 2,000
      7,000
      7,000
      25
       
      Coal (API 6) fob Newcastle (ARGUS-McCloskey) Futures
      1109
      NCL
      Y
      NCL
      1,500 500
      5,000 1,500
      5,000 1,500
      25
       
      Coal (API 8) cfr South China (Argus/McCloskey) Futures
      1113
      SSI
      Y
      SSI
      500
      1,500
      2,000
      25

       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
      Please refer questions on this subject to:
      Market Surveillance
      Chris Reinhardt                                   Chris.Reinhardt@cmegroup.com                  (212) 299-2882
      Ryne Toscano                                    Ryne.Toscano@cmegroup.com                    (212) 299-2879

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