• Listing of Freight Route TC14 (Baltic) Futures

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6681
      • Notice Date
      • 02 July 2013
      • Effective Date
      • 28 July 2013
    • Effective Sunday, July 28, 2013, for trade date Monday, July 29, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will launch a new tanker freight futures contract for trading on CME Globex and the NYMEX trading floor, and for submission for clearing through CME ClearPort.
       
      Also concurrent with the launch of this contract and pending all relevant CFTC regulatory review periods, the Exchange will permit block trading pursuant to Rule 526 (Block Trades) in these contracts at a block trade minimum threshold of five (5) contracts. 
       
       
      The contract titles, commodity codes, rule chapters, and specifications are provided below: 
       
                 

      Contract Name
      Freight Route TC14 (Baltic) Futures
      Commodity Code
      FRC
      Chapter
      1103
      Settlement Type
      Financial
      Contract Size
      1,000 metric tons
      Termination of Trading
      Trading shall cease on the last business day of the contract month.
      Minimum Price Fluctuation
      $0.0001 per metric ton
      Final Settlement Price Tick
      $0.0001 per metric ton
      Floating Price
      The Floating Price for each contract month shall be equal to the arithmetic average of the rates for each business day that the TC14 Tanker Route (for 38,000 metric tons US Gulf to Continent Europe) is published by the Baltic Exchange over the contract month.
      First Listed Month
      August 2013
      Listing Convention
      Open Outcry and CME ClearPort: 24 consecutive calendar months
      CME Globex: The nearest calendar month

       
       
       

      Trading Hours
      (All Times are New York Time/ET, unless specified otherwise)
       
      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
      $2.60
      $2.90
      $3.25
      Globex
      n/a
      $2.60
      $2.90
      $3.25
      $2.90
      ClearPort
      $2.60
      $3.25
      Other Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $0.50
      $0.50
       
      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
      $0.00
       
      Block Surcharge
      $0.00
       
      Facilitation Desk Fee
      $1.00
       

       
       
       
       
      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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