• Delayed-Listing of RBOB Gasoline vs. Euro-bob Oxy NWE Barges (Argus) (350,000 gallons) Average Price Option Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6813R
      • Notice Date
      • 09 October 2013
      • Effective Date
      • 09 October 2013
    • SER-6813RR dated October 28, 2013 supersedes this SER
       
      This SER supersedes SER#6813 dated September 23, 2013 to delay the effective date for listing the new contract.
       
      Due to the suspension of the CFTC regulatory review period, a result of the U.S. government shutdown, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) is delaying listing of RBOB Gasoline vs. Euro-bob Oxy NWE Barges (Argus) (350,000 gallons) Average Price Option Contract.
      A revised effective date for listing the new contract will be determined once CFTC regulatory review activities are resumed.
       
      The Exchange will then list the following new petroleum option contract: RBOB Gasoline vs. Euro-bob Oxy NWE Barges (Argus) (350,000 gallons) Average Price Option 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 five (5) contracts. 
      The contract title, commodity code, rule chapter, and specifications are provided below:
       

      Contract Name
      RBOB Gasoline vs. Euro-bob Oxy NWE Barges (Argus) (350,000 gallons) Average Price Option
      Commodity Code
      RGE
      Underlying Futures
      RBOB Gasoline vs. Euro-bob Oxy NWE Barges (Argus) (350,000 gallons) Futures (chapter: 1090; code: EXR)
      Chapter
      626
      Exercise Type
      European style; financially settled against underlying futures
      Contract Size
      350,000 gallons
      Termination of Trading
      Last business day of the contract month
      Minimum Price Fluctuation
      $0.0001 per gallon
      Value Per Tick
      $35
      Strike Price Listing
      The strike price interval shall be $0.001
      Listing Convention
      CME CPC and Open Outcry: 36 consecutive months
      CME Globex: 1 month
      First Listed Month
      October 2013 (dependent upon the CFTC’s resumption of
      regulatory review activity)
      Trading Hour
      CME Globex and CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
      Open Outcry: Monday – Friday 9:00 AM to 2:30 PM (8:00 a.m. to 1:30 p.m. CT)

       
       
      Fee Schedule:
       

      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:
       
      Research and Product Development
      Cameron Liao          KengHui.Liao@cmegroup.com                +65 6593 5588
       

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