• Listing of Two (2) New Petroleum Contracts for Trading on CME Globex and the NYMEX Trading Floor and for Clearing through CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6743RRR
      • Notice Date
      • 28 October 2013
      • Effective Date
      • 10 November 2013
    • This SER supersedes SER #6743RR dated October 10, 2013 to update the effective date for listing the new contracts and first listed contract month.
       
      Effective Sunday, November 10, 2013 for trade date November 11, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following two (2) new petroleum contracts for trading on CME Globex, the NYMEX trading floor, and for submission for clearing through CME ClearPort.
       
      1. NY Harbor ULSD vs. Low Sulphur Gasoil (1,000bbl) Futures
      2. NY Harbor ULSD vs. Low Sulphur Gasoil (1,000mt) Futures
       
      Also concurrent with the launch of these contracts and pending all relevant CFTC regulatory review periods, the Exchange will permit block trading pursuant to Rule 526 (Block Trades) in the NY Harbor ULSD vs. Low Sulphur Gasoil (1,000mt) Futures contract at a block trade minimum threshold of five (5) contracts. The Exchange will permit block trading pursuant to Rule 526 (Block Trades) in the NY Harbor ULSD vs. Low Sulphur Gasoil (1,000bbl) Futures contract at a block trade minimum threshold of ten (10) contracts.    
       
      The contract titles, commodity codes, rule chapters, and specifications are provided below:

      Contract Name
      NY Harbor ULSD vs. Low Sulphur Gasoil (1,000bbl) Futures
      Commodity Code
      NLS
      Chapter
      371
      Settlement Type
      Financial
      Contract Size
      The contract quantity shall be 42,000 gallons (1,000 barrels). Each contract shall be valued as the contract quantity (42,000) multiplied by the settlement price. 
       
      Termination of Trading
      Trading shall cease on the last London business day of the contract month
      Minimum Price Fluctuation
      $0.0001 per gallon
      Final Settlement Price Tick
      $0.0001 per gallon
      First Listed Month
      December 2013
      Listing Convention
      For CME Globex, monthly contracts shall be listed for twelve consecutive calendar months. CME ClearPort and NYMEX trading floor shall be listed for the current year and the next 4 consecutive calendar years.
      Trading Hours
      (All Times are New York Time/ET)
      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).

       
       

      Contract Name
      NY Harbor ULSD vs. Low Sulphur Gasoil (1,000mt) Futures
      Commodity Code
      SLS
      Chapter
      254
      Settlement Type
      Financial
      Contract Size
      The contract quantity shall be 312,900 gallons (1,000 metric tons). Each contract shall be valued as the contract quantity (312,900) multiplied by the settlement price.
       
      Termination of Trading
      Trading shall cease on the last London business day of the contract month
      Minimum Price Fluctuation
      $0.0001 per gallon
      Final Settlement Price Tick
      $0.0001 per gallon
      First Listed Month
      December 2013
      Listing Convention
      For CME Globex, monthly contracts shall be listed for twelve consecutive calendar months. CME ClearPort and NYMEX trading floor shall be listed for the current year and the next 4 consecutive calendar years.
      Trading Hours
      (All Times are New York Time/ET)
      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:
       
       

      Product Profile
      Product Name
      NY Harbor ULSD vs. Low Sulphur Gasoil (1,000bbl) Futures
      Exchange Fees
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      $0.85
      $0.85
      $1.05
      $1.25
       
      Globex
      $0.85
      $0.85
      $1.05
      $1.25
      $1.05
      ClearPort
       
      $0.85
       
      $1.25
       
      Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $0.10
      $0.10
       
      Additional Fees and Surcharges
       
       
      EFS Surcharge
      $0.00
       
      Block Surcharge
      $0.00
       
      Facilitation Desk Fee
      $0.20
       
       
       
       
       
      Product Profile
      Product Name
      NY Harbor ULSD vs. Low Sulphur Gasoil (1,000mt) Futures
      Exchange Fees
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      $7.00
      $7.00
      $8.00
      $9.00
       
      Globex
      $7.00
      $7.00
      $8.00
      $9.00
      $8.00
      ClearPort
       
      $7.00
       
      $9.00
       
      Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $1.00
      $1.00
       
       
       
       
       
      Additional Fees and Surcharges
       
       
      EFS Surcharge
      $0.00
       
      Block Surcharge
      $0.00
       
      Facilitation Desk Fee
      $0.40
       

       
       
       
       
      For additional information, please contact:
       
       
      Paul Wightman, Director R&PD          Paul.Wightman@cmegroup.com     +44 20 3379 3134
      Verena Peternell, Manager, Energy    Verena.Peternell@cmegroup.com  +44 20 3379 3723

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