• Large Trader Requirements, Spot-Month Aggregation Allocations, Initial Spot-Month Limits, All Month/Single Month Accountability Levels, and Reporting Levels for the New Crude Oil and Natural Gas Weekly Option Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-7072
      • Notice Date
      • 11 April 2014
      • Effective Date
      • 14 April 2014
    • In connection with the launch of the new Crude Oil and Natural Gas Weekly Option contracts on trade date April 14, 2014, (see SER-7039 dated March 20, 2014), please note below the corresponding spot-month aggregation allocations, all month/single month accountability levels (NYMEX Rule 560), initial spot month position limits (NYMEX Rule 559), and reportable levels (NYMEX Rule 561) for the two new contracts.  Effective trade date April 14, 2014, and pending all relevant CFTC regulatory review periods, the terms and conditions for these contracts 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, as noted below.

       

      The commodity codes are provided for the Clearing Members that file reports pursuant to NYMEX Rule 561.A in a machine-readable format.

       

       

      Contract Name

      Rule Chapter

      Commodity Code

      Spot-Month Aggregate Into Futures Equivalent Leg (1)

      Initial Spot-Month Limit (In Net Futures Equivalents)  Leg (1) / Leg (2)

      Single Month Accountability Level Leg (1) / Leg (2)

      All Month Accountability Level Leg (1) / Leg (2)

      Reporting Level

       

      Crude Oil Weekly Option – week 1

      1011

      LO1

      CL

      3,000

      10,000

      20,000

      25

       

      Crude Oil Weekly Option – week 2

      1011

      LO2

      CL

      3,000

      10,000

      20,000

      25

       

      Crude Oil Weekly Option – week 3

      1011

      LO3

      CL

      3,000

      10,000

      20,000

      25

       

      Crude Oil Weekly Option – week 4

      1011

      LO4

      CL

      3,000

      10,000

      20,000

      25

       

       

      Crude Oil Weekly Option – week 5

      1011

      LO5

      CL

      3,000

      10,000

      20,000

      25

       

      Natural Gas Weekly Option – week 1

      1012

      ON1

      NG

      1,000

      6,000

      12,000

      25

       

      Natural Gas Weekly Option – week 2

      1012

      ON2

      NG

      1,000

      6,000

      12,000

      25

       

      Natural Gas Weekly Option – week 3

      1012

      ON3

      NG

      1,000

      6,000

      12,000

      25

       

      Natural Gas Weekly Option – week 4

      1012

      ON4

      NG

      1,000

      6,000

      12,000

      25

       

      Natural Gas Weekly Option – week 5

      1012

      ON5

      NG

      1,000

      6,000

      12,000

      25

       

      Please refer questions on this subject to:

      Market Regulation

      Surveillance:     Ryne Toscano               Ryne.Toscano@cmegroup.com                         (212) 299-2879

       

      Products:          Nadine Brown                Nadine.Brown@cmegroup.com              (212) 299-2223

       

      Large Trader

      Reporting:         Sandra Valtierra Sandra.Valtierra@cmegroup.com           (312) 347-4137