• Listing of European 3.5% Fuel Oil Barges FOB Rdam (Platts) Mini Weekly Spread Futures Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6745
      • Notice Date
      • 16 July 2013
      • Effective Date
      • 11 August 2013
    • Effective Sunday, August 11, 2013, for trade date Monday, August 12, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list a new fuel oil weekly spread 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 this contract at a block trade minimum threshold of five (5) contracts.
       
      The contract titles commodity code, rule chapter, and specifications are provided below: 
       
                 

      Contract Name
      European 3.5% Fuel Oil Barges Fob Rdam (Platts) Mini Weekly Spread Futures
       
      Commodity Code
      EMW
       
      Chapter
      863
       
      Settlement Type
      Financial
       
      Contract Size
      100 metric tons
       
      Termination of Trading
      The last business day of the contract’s reference month
       
      Minimum Price Fluctuation
      $0.001 per metric ton
       
      Final Settlement Price Tick
      $0.001 per metric ton
       
      Floating Price
      The Floating Price for each contract week is equal to the arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for Fuel Oil 3.5% under the heading “FOB Rotterdam” for each business day during the contract’s reference week minus the arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for Fuel Oil 3.5% under the heading “FOB Rotterdam” for each business day during the contract’s reference month.
      The contract’s reference month shall be the calendar month following the calendar month containing the Monday of the contract’s reference week.
       
      First Listed Week
      Week Commencing 2 September 2013
       
      Listing Convention
      Open Outcry and CME ClearPort: Weekly contracts for the nearest twelve calendar months
       
      CME Globex: Weekly contracts for the nearest three calendar months
       
      Trading Hours
       
       
      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
      $0.85
      $1.05
      $1.25
       
      Globex
      $0.85
      $0.85
      $1.05
      $1.25
      $1.05
      ClearPort
      $0.85
       
      $1.25
       
      Other Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $0.85
      $1.25
       
      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
      $0.20
       

       
       
       
      For additional information, please contact:
       
      Richard Stevens         Richard.Stevens@cmegroup.com      +44 20 3379 3790
      Verena Peternell         Verena.Peternell@cmegroup.com      +44 20 3379 3723

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