• Listing of Low Sulphur Gasoil Crack Spread Financial Futures Contract

      • To
      • Members, Member Firms and Market Makers
      • From
      • Research and Product Development
      • #
      • SER-6777
      • Notice Date
      • 14 August 2013
      • Effective Date
      • 08 September 2013
    • Effective Sunday, September 8, 2013, for trade date Monday, September 9, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the Low Sulphur Gasoil Crack Financial Futures contract for trading on CME Globex, 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 ten (10) contracts. 
      The contract title, commodity code, rule chapter, and specifications are provided below:

      Contract Name
      Low Sulphur Gasoil Crack Spread Financial Futures
      Commodity Code
      Settlement Type
      Contract Size
      The contract quantity shall be 1,000 Barrels. Each contract shall be valued as the contract quantity (1,000) multiplied by the settlement price.
      Termination of Trading
      Trading shall cease on the last London business day of the contract month
      Minimum Price Fluctuation
      $0.001 per barrel
      Final Settlement Price Tick
      $0.001 per barrel
      First Listed Month
      October 2013
      Listing Convention
      For Globex, monthly contracts shall be listed for twelve consecutive calendar months. 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 Name
      Low Sulphur Gasoil Crack Spread Financial Futures
      Exchange Fees
      Member Day
      Cross Division
      Other Processing Fees
      Cash Settlement
      Additional Fees and Surcharges
      EFS Surcharge
      Block Surcharge
      Facilitation Desk Fee

      Please refer questions on this subject to:
      Research and Product Development
      Paul Wightman                      Paul.Wightman@cmegroup.com                   +44 20 3379 3134
      Products and Services
      Verena Petternell                    Verena.petternell@cmegroup.com                +44 20 3379 3723