• Increases to the Initial Spot-Month Position Limits and Single Month/All Month Accountability Levels Affecting Eighteen (18) Natural Gas Futures and Option Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-7089
      • Notice Date
      • 15 May 2014
      • Effective Date
      • 18 May 2014
    • Please be advised that effective Sunday, May 18, 2014, for trade date Monday, May 19, 2014, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (“NYMEX”) will increase the initial spot month position limits (NYMEX Rule 559) for eighteen (18) natural gas futures and option contracts, and additionally increase the single month/all month accountability levels of four (4) of the natural gas futures contracts.  Effective trade date May 19, 2014, 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)

      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

       

      Dominion, South Point Natural Gas (Platts IFERC) Fixed Price Futures

      1275

      DSF

      DSF

      6200 10,000

      10,000 12,000

      10,000 15,000

      25

       

      Dominion, South Point Natural Gas (Platts IFERC) Basis Futures

      632

      PG

      DSF

      6200 10,000

      10,000 12,000

      10,000 15,000

      25

       

      Dominion, South Point Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures

      794

      IH

      SH

      6,200/6,200 10,000/10,000

      10,000/10,000 12,000/12,000

      10,000/10,000 15,000/15,000

      25

       

      Dominion, South Point Natural Gas (Platts Gas Daily) Swing Futures

      784

      SH

      SH

      6200 10,000

      10,000 12,000

      10,000 15,000

      25

       

      MichCon Natural Gas (Platts IFERC) Basis Option

      619B

      4W

      MFS

      1000 3,800

      10,000

      10,000

      175

       

      MichCon Natural Gas (Platts IFERC) Fixed Price Futures

      1285

      MFS

      MFS

      1000 3,800

      10,000

      10,000

      25

       

      MichCon Natural Gas (Platts IFERC) Basis Futures

      619

      NF

      MFS

      1000 3,800

      10,000

      10,000

      175

       

      MichCon Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures

      882

      Y8

      T8

      1,000/1,000 3,800/3,800

      10,000/10,000

      10,000/10,000

      25

       

      MichCon Natural Gas (Platts Gas Daily) Swing Futures

      891

      T8

      T8

      1000 3,800

      10,000

      10,000

      25

       

      Malin Natural Gas (Platts IFERC) Fixed Price Futures

      1025

      DML

      DML

      4400 6,000

      10,000

      10,000

      25

      Malin Natural Gas (Platts IFERC) Basis Futures

      623

      PB

      DML

      4400 6,000

      10,000

      10,000

      25

       

      Malin Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures

      389

      V8

      W9

      4,400/4,400 6,000/6,000

      10,000/10,000

      10,000/10,000

      25

       

      Malin Natural Gas (Platts Gas Daily) Swing Futures

      887

      W9

      W9

      4400 6,000

      10,000

      10,000

      25

       

      Rockies Natural Gas (Platts IFERC) "Pipe" Option

      524A

      ZR

      NR

      6000 7,000

      10,000

      10,000

      25

       

      Rockies Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures

      795

      IR

      SR

      6,000/6,000 7,000/7,000

      10,000/10,000

      10,000/10,000

      25

       

      Rockies Natural Gas (Platts IFERC) Basis Option

      524B

      5I

      XR

      6000 7,000

      10,000

      10,000

      25

       

      Rockies Natural Gas (Platts IFERC) Basis Futures

      524

      NR

      XR

      6000 7,000

      10,000

      10,000

      25

       

      Rockies Natural Gas (Platts IFERC) Fixed Price Futures

      1280

      XR

      XR

      6000 7,000

      10,000

      10,000

      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