• Increase from 2,000 to 4,000 Futures-Equivalent Contracts Initial Spot Month Position Limits, Amended Single-Month Accountability Levels and Aggregation Allocations for Sixty-five (65) Existing Brent Crude Oil Futures and Option Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6787
      • Notice Date
      • 09 August 2013
      • Effective Date
      • 11 August 2013

    • Please be advised that effective Sunday, August 11, 2013, for trade date Monday, August 12, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (“NYMEX”) will amend the initial spot month position limits (NYMEX Rule 559), single-month accountability levels (NYMEX 560) and aggregation allocations for sixty-five (65) existing Brent crude oil futures and option contracts. The terms and conditions for these contracts will be updated and 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 underlining indicates additions; strikethrough indicates deletions)
       

      Contract Name
      Rule Chap-ter
      Com-modity Code
      Spot-Month Aggre-gate Into Futures Equiva-lent Leg (1)
      Spot-Month Aggre-gate Into Futures Equiva-lent Leg (2)
      Initial Spot-Month Limit (In Net Futures Equiva-lents) Leg (1) / Leg (2)
      Single Month Account-ability Level Leg (1) / Leg (2)
      All Month Account-ability Level Leg (1) / Leg (2)
      Report-ing Level
       
      Singapore Mogas 92 Unleaded (Platts) Brent Crack Spread Futures
      1085
      1NB
      1N
      BZ BB
      1,000/2,000 4,000
      5,000/20,000 10,000
      7,000/ 20,000
      25
       
      European Gasoil Brent Crack Spread Average Price Option
      710A
      3U
      UN
      BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      European Naphtha (Platts) Crack Spread BALMO Futures
      636
      43
      UN
      BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25

       


       

       
      Gasoline Euro-bob Oxy NWE Barges (Argus) Crack Spread BALMO Futures
      733
      7I
      7H
      BZ BB
      500/2,000 4,000
      2,500/20,000 10,000
      3,500/ 20,000
      25
       
      Gasoline Euro-bob Oxy NWE Barges (Argus) Crack Spread Futures
      732
      7K
      7H
      BZ BB
      500/2,000 4,000
      2,500/20,000 10,000
      3,500/ 20,000
      25
       
      Brent Calendar Spread Option (One Month)
      394
      AA
      BB
      BB
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Calendar Spread Option (Two Month)
      394
      AB
      BB
      BB
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Calendar Spread Option (Three Month)
      394
      AC
      BB
      BB
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Argus Gasoline Eurobob Oxy Barges NWE Crack Spread (1000mt) BALMO Futures
      147
      AES
      7H
      BZ BB
      500/2,000 4,000
      2,500/20,000 10,000
      3,500/ 20,000
      25
       
      Brent Calendar Spread Option (Six Month)
      394
      AM
      BB
      BB
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Calendar Spread Option (Twelve Month)
      394
      AZ
      BB
      BB
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil Average Price Option
      379
      BA
      BZ BB
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil Penultimate Financial Futures
      692
      BB
      BB
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent 25-Day Average Price Option
      1178
      BDA
      NBZ
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent 25-Day (Platts) Financial Futures
      1175
      BDC
      NBZ
       
      2,000 4,000
      20,000 10,000
      20,000
      25

       


       

       
      Brent 25-Day European Option
      1177
      BDE
      NBZ
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent 25-Day Option
      1176
      BDO
      NBZ
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      WTI-Brent Financial Futures
      694
      BK
      26
      BZ BB
      3,000/2,000 4,000
      10,000/20,000 10,000
      20,000/ 20,000
      25
       
      3.5% Fuel Oil Barges FOB Rdam (Platts) Crack Spread (1000mt) Futures
      141
      BOB
      UV
      BZ BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      Brent Option on Calendar Futures Strip
      826
      BPC
      BZ BB
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Option on Quarterly Futures Strip
      827
      BQP
      BZ BB
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      ICE Brent (Singapore Marker) vs. DME Oman Crude Oil Swap Futures
      123
      BSG
      BZ BB
      DOO
      2,000 4,000/4,000
      20,000 10,000/ 20,000
      20,000/ 20,000
      25
      WTI-Brent Crude Oil Spread Option
      377
      BV
      26
      BZ BB
      3,000/2,000 4,000
      10,000/ 20,000 10,000
      20,000/ 20,000
      25
      WTI-Brent Bullet Futures
      693
      BY
      26
      BZ BB
      3,000/2,000 4,000
      10,000/ 20,000 10,000
      20,000/ 20,000
      25
      Brent Financial Futures
      696
      CY
      BZ BB
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil vs. Dubai Crude Oil (Platts) Futures
      697
      DB
      BB
      DC
      2,000 4,000/5,000
      20,000 10,000/ 10,000
      20,000/ 10,000
      25
       
      ICE Brent vs. DME Oman Crude Oil Swap Futures
      126
      DBO
      BZ BB
      DOO
      2,000 4,000/4,000
      20,000 10,000/ 20,000
      20,000/ 20,000
      25
       
      European Naphtha (Platts) Crack Spread Futures
      713
      EN
      UN
      BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      Argus Gasoline Eurobob Oxy Barges NWE Crack Spread (1000mt) Futures
      146
      EOB
      7H
      BZ BB
      500/2,000 4,000
      2,500/20,000 10,000
      3,500/ 20,000
      25

       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       

       
      3.5% Fuel Oil Barges FOB Rdam (Platts) Crack Spread BALMO Futures
      1204
      FCB
      UV
      BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      Dated Brent (Platts) to Frontline Brent BALMO Futures
      831
      FE
      UB
      BB
      1,000/2,000 4,000
      5,000/20,000 10,000
      5,000/ 20,000
      25
       
      1% Fuel Oil Cargoes FOB NWE (Platts) Crack Spread Futures
      727
      FI
      UF
      BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      3.5% Fuel Oil
      Cargoes FOB MED (Platts) Crack Spread Futures
      735
      FL
      UI
      BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      3.5% Fuel Oil Barges FOB Rdam (Platts) Crack Spread Futures
      726
      FO
      UV
      BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      3.5% Fuel Oil Cargoes FOB MED (Platts) Crack Spread BALMO Futures
      1205
      FOA
      UI
      BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      1.0% Fuel Oil Cargoes FOB NWE (Platts) Crack Spread (1000mt) Futures
      142
      FVB
      UF
      BZ BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      Dated Brent (Platts) to Frontline Brent Futures
      695
      FY
      UB
      BB
      1,000/2,000 4,000
      5,000/20,000 10,000
      5,000/ 20,000
      25
       
      Gulf Coast No.6 Fuel Oil 3.0% (Platts) Brent Crack Spread Futures
      1098
      GCI
      MF
      BZ BB
      1,000/2,000 4,000
      10,000/ 20,000 10,000
      10,000/ 20,000
      25
       
      Gasoil 0.1% Cargoes CIF NWE (Platts) Crack Spread (1000mt) Futures
      145
      GEB
      TW
      BZ BB
      150/2,000 4,000
      500/20,000 10,000
      1,000/ 20,000
      25

       


       

       
      Gasoline 10 ppm FOB MED (Platts) Crack Spread Futures
      1198
      GKS
      3G
      BB
      100/2,000 4,000
      1,000/20,000 10,000
      1,500/ 20,000
      25
       
      Gasoil 0.1% Barges FOB Rdam (Platts) Crack Spread (1000mt) Futures
      144
      GOB
      VL
      BZ BB
      150/2,000 4,000
      500/20,000 10,000
      1,000/ 20,000
      25
       
      Gasoil Crack Spread (1000mt) Financial Futures
      143
      GOC
      GX
      BZ BB
      1,000/2,000 4,000
      7,000/20,000 10,000
      7,000/ 20,000
      25
       
      Gasoil 50 ppm Barges FOB Rdam (Platts) Crack Spread (1000mt) Futures
      998
      GRC
      GFS
      BZ BB
      150/2,000 4,000
      500/20,000 10,000
      1,000/ 20,000
      25
       
      European Gasoil Brent Crack Spread Futures
      710
      GZ
      GX
      BB
      1,000/2,000 4,000
      7,000/20,000 10,000
      7,000/ 20,000
      25
       
      Heating Oil Brent Crack Spread Futures
      1097
      HOB
      23
      BZ BB
      1,000/2,000 4,000
      5,000/20,000 10,000
      7,000/ 20,000
      25
       
      Brent (Euro Denominated) Financial Futures
      1055
      IBE
      BZ BB
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent (Singapore Marker) Futures
      1122
      IBS
      BZ BB
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil BALMO Futures
      481
      J9
      BZ BB
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Japan C&F Naphtha (Platts) Brent Crack Spread Futures
      580
      JB
      JA
      BB
      500/2,000 4,000
      1,000/ 20,0000 10,000
      1,000/ 20,000
      25
       
      Micro Brent Crude Oil Penultimate Financial Futures
      1117
      MBZ
      BB
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Naphtha Cargoes CIF NWE (Platts) Crack Spread (1000mt) BALMO Futures
      149
      NBB
      UN
      BZ BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      NYMEX Brent 25-Day Futures
      1186
      NBZ
      NBZ
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Naphtha Cargoes CIF NWE (Platts) Crack Spread (1000mt) Futures
      148
      NOB
      UN
      BZ BB
      150/2,000 4,000
      1,500/20,000 10,000
      1,500/ 20,000
      25
       
      Daily Brent Crude Oil Option
      870
      ODB
      BB
       
      2,000 4,000
      20,000 10,000
      20,000
      n/a
       
      RBOB Gasoline Brent Crack Spread Futures
      1096
      RBB
      27
      BZ BB
      1,000/2,000 4,000
      5,000/20,000 10,000
      7,000/ 20,000
      25
       
      Singapore Fuel Oil 180 cst (Platts) Brent Crack Spread Futures
      213
      SFC
      UA
      BZ BB
      500/2,000 4,000
      5,000/20,000 10,000
      5,000/ 20,000
      25
       
      Singapore Fuel Oil 180 cst (Platts) 6.35 Brent Crack Spread Futures
      1093
      STR
      UA
      BZ BB
      500/2,000 4,000
      5,000/20,000 10,000
      5,000/ 20,000
      25
       
      Brent Crude Oil Last Day Financial Calendar Spread Option (Two Month)
      398
      9B
      BB BZ
      BB BZ
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil Last Day Financial Calendar Spread Option (One Month)
      398
      9C
      BB BZ
      BB BZ
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil Last Day Financial Calendar Spread Option (Three Month)
      398
      9D
      BB BZ
      BB BZ
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil Last Day Financial Calendar Spread Option (Six Month)
      398
      9L
      BB BZ
      BB BZ
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil Last Day Financial Calendar Spread Option (Twelve Month)
      398
      9Y
      BB BZ
      BB BZ
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil European Financial Option
      378
      BE
      BZ
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil Last Day Financial Futures
      698
      BZ
      BZ
       
      2,000 4,000
      20,000 10,000
      20,000
      25
       
      Brent Crude Oil Option
      376
      OS
      BZ
       
      2,000 4,000
      20,000 10,000
      20,000
      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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