• Amendments to RBOB Gasoline vs. Euro-bob Oxy NWE Barges (Argus) Futures Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6701
      • Notice Date
      • 10 June 2013
      • Effective Date
      • 23 June 2013
    • Effective Sunday, June 23, 2013, for trade date Monday, June 24, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will amend Rule 1206101 (Contract Specifications) of the RBOB Gasoline vs. Euro-bob Oxy NWE Barges (Argus) Futures contract (Code: XER, Rule Chapter 1206) to accurately reflect references to measurements and conversion factors of the contract units underlying the spread.
      This contract is available for trading on the NYMEX trading floor and CME Globex, and for submission for clearing through CME ClearPort. The rule amendments are as follows:
      (Underscore denotes addition; Strikethrough denotes deletion)
      Chapter 1206
      RBOB Gasoline vs. Euro-bob Oxy NWE Barges (Argus) Futures
                       The Floating Price for each contract month is equal to the arithmetic average of the RBOB Gasoline futures first nearby contract month settlement price minus the high and low quotations from Argus Media for Eurobob-Oxy NWE Barges for each business day during the contract month.
                       For purposes of determining the Floating Price, the Argus Euro-bob Oxy assessment price will be converted each day to U.S. dollars and cents per barrel gallon, using the conversion factor of 8.33 barrels per metric ton, and 42 gallons per barrel.
                       The Floating Price is calculated using the non-common pricing convention. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated by using all trading days in the month for each component leg of the spread, followed by the calculation of the spread differential between the two averages.
      For additional information, please contact:
      Richard Stevens         Richard.Stevens@cmegroup.com      +44 20 3379 3790