• Amendments to Thirty-Eight (38) Petroleum Futures Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6946
      • Notice Date
      • 10 December 2013
      • Effective Date
      • 22 December 2013
    • Effective Sunday, December 22, 2013, for trade date Monday, December 23, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will amend the underlying contract reference for thirty-eight (38) petroleum futures contracts. The floating price reference will be amended from ICE Gasoil to ICE Low Sulphur Gasoil for the contract month January 2015 and forward. These contracts are listed for trading on the NYMEX trading floor and CME Globex and for submission for clearing on CME ClearPort. The amended listing cycles of these contracts are described below. Please note that ten (10) of these futures contracts are balance of month (BALMO) futures contracts, the listing schedules of which will remain unchanged.  
       
      The listing schedule amendments and rule amendments are set forth below:
       

      Contract Title
      Rule Chapter
      Clearing/ Globex Code
      Current Listing Schedule
      New Listing Schedule
      Mini ULSD 10ppm Cargoes CIF Med (Platts) vs. Gasoil Futures
      231
      UCM/UCM
      The last contract month is December 2014/1 month
      current year + 1 year
      Mini European Jet Kero Cargoes CIF NWE (Platts) vs. Gasoil Futures
      232
      MJC/MJC
      The last contract month is December 2014/12 consecutive months
      current year +1 year
      Mini European Jet Kero Barges FOB Rdam (Platts) vs. Gasoil Futures
      233
      MJB/MJB
      The last contract month is December 2014/1 month
      current year +1 year
      Mini ULSD 10ppm Cargoes CIF NWE (Platts) vs. Gasoil Futures
      234
      MGN/MGN
      The last contract month is December 2014/1 month
      current year +1 year
      Mini Gasoil 0.1 Cargoes CIF NWE (Platts) vs. Gasoil Futures
      235
      MGF/MGF
      The last contract month is December 2014/1 month
      current year +1 year
      Jet Aviation Fuel Cargoes FOB MED (Platts) vs. Gasoil Futures
      417
      1V/A1V
      The last contract month is December 2014/1 month.
      current year +1 year
      Gasoil Mini Financial Futures
      531
      QA/AQA
      The last contract month is December 2014/ 12 consecutive months
      current year +1 year
      Gasoil 0.1 (Platts) Barges FOB Rdam vs. Gasoil Futures
      533
      WQ/AWQ
      The last contract month is December 2014/ 12 consecutive months
      current year + 1 year
      Gasoil 0.1 Cargoes FOB NWE (Platts) vs. Gasoil Futures
      535
      WT/WT
      The last contract month is December 2014/ 1 month
      current year + 1 year
      Gasoil 0.1 Cargoes CIF NWE (Platts) vs. Gasoil Futures
      537
      TU/ATU
      The last contract month is December 2014/ 1 month
      current year + 1 year
      ULSD 10ppm Cargoes CIF NWE (Platts) vs. Gasoil Futures
      539
      TP/ATP
      The last contract month is December 2014/12 consecutive months
      current year +1 year
      Gasoil 0.1 Cargoes CIF Med (Platts) vs. Gasoil Futures
      547
      Z5/AZ5
      The last contract month is December 2014/ 6 consecutive months
      current year + 1 year
      ULSD 10ppm Cargoes CIF Med (Platts) vs. Gasoil Futures
      549
      Z7/AZ7
      The last contract month is December 2014/ 1 consecutive month
      current year + 1 year
      European Gasoil Bullet Futures
      561
      BG/BG
      The last contract month is December 2014/12 consecutive months
      current year +1 year
      European Gasoil (100mt) Bullet Futures
      712
      7F/GLI
      The last contract month is December 2014/36 consecutive months
      current year +1 year
      European Diesel 10 ppm Barges FOB Rdam (Platts) vs. Gasoil Futures
      718
      ET/AET
      The last contract month is December 2014/1 month
      current year +1 year
      Jet Cargoes CIF NWE (Platts) vs. Gasoil Futures
      722
      JC/HJC
      The last contract month is December 2014/12 consecutive months
      current year +1 year
      Jet Barges FOB Rdam (Platts) vs. Gasoil Futures
      723
      JR/AJR
      The last contract month is December 2014/ 6 consecutive months
      current year +1 year
      Singapore Gasoil (Platts) vs. Gasoil Futures
      724
      GA/AGA
      The last contract month is December 2014/12 consecutive months
      current year +1 year
      NY Harbor ULSD vs. Gasoil Futures
      725
      HA/HAB
      The last contract month is December 2014/1 month
      current year +1 year
      European Gasoil Financial Futures
      728
      GX/AGX
      The last contract month is December 2014/12 consecutive months
      current year +1 year
      Mini European Diesel 10 ppm Barges FOB Rdam (Platts) vs. Gasoil Futures
      737
      MUD/MUD
      The last contract month is December 2014/1 month
      current year +1 year
      Mini Gasoil 0.1 Barges FOB Rdam (Platts) vs. Gasoil Futures
      745
      MGB/MGB
      The last contract month is December 2014/ 1 month
      current year +1 year
      Gasoil 50 ppm Barges FOB Rdam (Platts) vs. Gasoil Futures
      997
      GRS/GRS
      The last contract month is December 2014/1 month
      current year +1 year
      Gasoil (Euro Denominated) Financial Futures
      1056
      IGE/IGE
      The last contract month is December 2014/1 month
      current year +1 year
      Mini ULSD 10ppm Cargoes CIF NWE (Platts) vs. Gasoil (Euro Denominated) Futures
      1060
      MUL/MUL
      The last contract month is December 2014/1 month
      current year +1 year
      FAME 0 Biodiesel FOB Rdam (Argus) (RED Compliant) vs. Gasoil Futures
      1148
      FBT/FBT
      The last contract month is December 2014/1 month
      current year +1 year
      RME Biodiesel FOB Rdam (Argus) (RED Compliant) vs. Gasoil Futures
      1150
      BFR/BFR
      The last contract month is December 2014/ 12 consecutive months
      current year +1 year

       
       
       
       
      The rulebook chapters are also being amended to reflect the changes to the underlying reference and all of the changes are detailed by contract below.
       
       
       
       
       
      Product Chapter Rule Amendments
      (Additions are shown in underline. Deletions are shown in strikethrough.)
       
       
      Chapter 231
      Mini ULSD 10ppm Cargoes CIF MED (Platts) vs. Gasoil Futures
       
      231.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for ULSD 10ppm under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for ULSD 10ppm under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
      (A) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby contract will be used.
       
       
       
       
      Chapter 232
      Mini European Jet Kero Cargoes CIF NWE (Platts) vs. Gasoil Futures
       
      232.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading “Cargoes CIF NWE Basis ARA” minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading “Cargoes CIF NWE Basis ARA” minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
      The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil and or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby contract will be used.
       
       
       
       
      Chapter 233
      Mini European Jet Kero Barges FOB Rdam (Platts) vs. Gasoil Futures
       
       233.02.            FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading “Barges FOB Rotterdam” minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading “Barges FOB Rotterdam” minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
       
      (A) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby contract will be used.
       
       
       
      Chapter 234
      Mini ULSD 10ppm Cargoes CIF NWE (Platts) vs. Gasoil Futures
       
       
      234.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for ULSD10ppm under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for ULSD10ppm under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
       
      (A) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby contract will be used.
       
       
       
       
      Chapter 235
      Mini Gasoil 0.1 Cargoes CIF NWE (Platts) vs. Gasoil Futures
       
       235.02.            FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
       The Floating Price for each contract month from January 2015 and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
      (A) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby contract will be used.
       
       
       
       
       
       
      Chapter 417
      Jet Aviation Fuel Cargoes FOB MED (Platts) vs. Gasoil Futures
       
      417.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Aviation Fuel under the heading "Cargoes FOB Med Basis Italy" minus the first line ICE Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Aviation Fuel under the heading "Cargoes FOB Med Basis Italy" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), except as noted in (B) below.
       
      (B) The settlement prices of the first nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the second nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
      Chapter 531
      Gasoil Mini Financial Futures
       
      531.02              FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month  is equal to the arithmetic average of the ICE Gasoil first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted in (B) below.
       
      The Floating Price for the contract months for January 2015 and beyond is the ICE Low Sulphur Gasoil Futures 1st nearby contract settlement price that is determined during the contract month.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil and or ICE Low Sulphur Gasoil Futures contracts when the settlement prices of the 2nd nearby contracts will be used.
       
       
       
      Chapter 533
      Gasoil 0.1 (Platts) Barges FOB Rdam vs. Gasoil Futures
       
      533.02              FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Barges FOB Rotterdam" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using non-common pricing), except as noted in (B) below. (B) The settlement prices of the first nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil Futures contract when the settlement prices of the second nearby ICE Gasoil contract will be used
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Barges FOB Rotterdam" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using non-common pricing), except as noted in (B) below.
      (B) The settlement prices of the first nearby contract month will be used except on the last day of trading for the expiring ICE Low Sulphur Gasoil Futures contract when the settlement prices of the second nearby ICE Low Sulphur Gasoil contract will be used
       
       
       
      Chapter 535
      Gasoil 0.1 Cargoes FOB NWE (Platts) vs. Gasoil Futures
       
      535.02              FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes FOB NWE" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes FOB NWE" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (B) below.
       
      (B) The settlement prices of the first nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the second nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
      Chapter 537
      Gasoil 0.1 Cargoes CIF NWE (Platts) vs. Gasoil Futures
       
      537.02              FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (B) below.
       
      (B) The settlement prices of the first nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the second nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
      Chapter 539
      ULSD 10ppm Cargoes CIF NWE (Platts) vs. Gasoil Futures
       
      539.02              FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for ULSD10ppm under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (B) below.
       
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for ULSD10ppm under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (B) below.
      The settlement prices of the first nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the second nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
      Chapter 547
      Gasoil 0.1 Cargoes CIF MED (Platts) vs. Gasoil Futures
       
      547.02              FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the quotation from Platts European Marketscan for first line IPE ICE Gasoil Futures average for each business day that both are determined during the contract month (using Non-common pricing), except as noted in (B) below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the quotation from Platts European Marketscan for first line IPE ICE Low Sulphur Gasoil Futures average for each business day that both are determined during the contract month (using Non-common pricing), except as noted in (B) below.
       
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
      Chapter 549
      ULSD 10ppm Cargoes CIF MED (Platts) vs. Gasoil Futures
       
      549.02              FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for ULSD 10ppm under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the quotation from Platts European Marketscan for first line IPE ICE Gasoil Futures average for each business day that both are determined during the contract month (using Non-common pricing), except as noted in (B) below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for ULSD 10ppm under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the quotation from Platts European Marketscan for first line IPE ICE Low Sulphur Gasoil Futures average for each business day that both are determined during the contract month (using Non-common pricing), except as noted in (B) below.
       
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
      Chapter 561
      European Gasoil Bullet Futures
       
      561.02 FLOATING PRICE
       
      The Floating Price is equal to the European (ICE) ICE Gasoil Futures 1st nearby contract settlement price on the penultimate trading day for contract months up to and including December 2014.
       
      The Floating Price is equal to the European ICE Low Sulphur Gasoil Futures 1st nearby contract settlement price on the penultimate trading day for contract months from the January 2015 contract and beyond
       
       
       
       
      Chapter 712
      European Gasoil (100mt) Bullet Futures
       
      712.02.             FLOATING PRICE
      The Floating Price for the contract month up to and including the December 2014 contract month is the ICE Gasoil Futures 1st nearby contract settlement price that is determined during the contract month.
       
      The Floating Price for the contract months for January 2015 and beyond is the ICE Low Sulphur Gasoil Futures 1st nearby contract settlement price that is determined during the contract month.
       
       
       
      Chapter 718
      European Diesel 10 ppm Barges FOB Rdam (Platts) vs. Gasoil Futures
       
      718.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Diesel 10PPM Barges FOB Rotterdam minus the first line ICE Gasoil (ICE) Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (B) below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Diesel 10PPM Barges FOB Rotterdam minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil and or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil and or ICE Low Sulphur Gasoil contract will be used.
       
       
       
      Chapter 722
      Jet Cargoes CIF NWE (Platts) vs. Gasoil Futures
       
       722.02.            FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil (ICE) Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), except as noted in (B) below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil and or ICE Low Sulphur Futures contract when the settlement prices of the 2nd nearby ICE Gasoil and or ICE Low Sulphur contract will be used.
       
       
       
       
      Chapter 723
      Jet Barges FOB Rdam (Platts) vs. Gasoil Futures
       
      723.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading "Barges FOB Rotterdam" minus the quotation for first line ICE Gasoil (ICE) Futures average settlement price for each business day during the contract month (using Non-common pricing), except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading "Barges FOB Rotterdam" minus the quotation for first line ICE Low Sulphur Gasoil Futures average settlement price for each business day during the contract month (using Non-common pricing), except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
      Chapter 724
      Singapore Gasoil (Platts) vs. ICE Gasoil Swap Futures
       
      724.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts Asia-Pacific Marketscan for Singapore Physical Cargoes of Gasoil for each business day that it is determined minus the arithmetic average for first line ICE Gasoil (ICE) Futures settlement price for each business day that it is determined during the contract month (using Non-common pricing).
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts Asia-Pacific Marketscan for Singapore Physical Cargoes of Gasoil for each business day that it is determined minus the arithmetic average for first line ICE Low Sulphur Gasoil Futures settlement price for each business day that it is determined during the contract month (using Non-common pricing).
       
       For purposes of determining the Floating Price, the ICE Gasoil and or ICE Low Sulphur Gasoil Futures first nearby contract month settlement price will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent. The conversion factor will be 7.45 barrels per metric ton.
       
      (B) The settlement prices for the first nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil and or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the second nearby ICE Gasoil contract will be used.
       
       
       
       
      Chapter 725
      NY Harbor ULSD vs. Gasoil Futures
       
      725.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the NY Harbor ULSD Futures first nearby settlement price minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing).
       
      The Floating Price for each contract month, for January 2015 and beyond is equal to the arithmetic average of the NY Harbor ULSD Futures first nearby settlement price minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing).
       
      For purposes of determining the Floating Price, the ICE Gasoil and or ICE Low Sulphur Gasoil Futures first nearby contract month settlement price will be converted each day to U.S. dollars and cents per gallon, rounded to the nearest cent. The conversion factor will be 7.45 barrels per metric ton.
       
      (B) The settlement prices for the first nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil and or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the second nearby ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
       
       
      Chapter 728
      European Gasoil Financial Futures
       
      728.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the ICE Gasoil first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted in (B) below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the ICE Low Sulphur Gasoil first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted in (B) below.
       
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil and or ICE Low Sulphur Gasoil Futures contracts when the settlement prices of the 2nd nearby contracts will be used.
       
       
       
      Chapter 737
      Mini European Diesel 10 ppm Barges FOB Rdam (Platts) vs. Gasoil Futures
       
      737.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Diesel 10PPM Barges FOB Rotterdam minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using non-common pricing), except as noted in (B) below.
       
       The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Diesel 10PPM Barges FOB Rotterdam minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using non-common pricing), except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
       
      Chapter 745
      Mini Gasoil 0.1 Barges FOB Rdam (Platts) vs. Gasoil Futures
       
      745.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Barges FOB Rotterdam" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using non-common pricing), except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Barges FOB Rotterdam" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using non-common pricing), except as noted in (B) below.
       
       
      (B) The settlement prices of the first nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the second nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
       
       
       
      Chapter 997
      Gasoil 50 ppm Barges FOB Rdam (Platts) vs. Gasoil Futures
       
      997.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 50ppm under the heading “Barges FOB Rotterdam” minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 50ppm under the heading “Barges FOB Rotterdam” minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below.
       
       
      (A) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby contract will be used.
       
       
       
       
       
      Chapter 1056
      Gasoil Euro denominated Financial Futures
       
      1056.02.            FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the ICE Gasoil first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted in (B) below. The Floating Price shall be converted into Euros and Euro cents using the arithmetic average of the daily European Central Bank Euro/US Dollar foreign exchange reference rate.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the ICE Low Sulphur Gasoil first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted in (B) below. The Floating Price shall be converted into Euros and Euro cents using the arithmetic average of the daily European Central Bank Euro/US Dollar foreign exchange reference rate.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or Low Sulphur Gasoil Futures contracts when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil Futures contracts will be used.
       
       
       
      Chapter 1060
      Mini Gasoil 0.1 Cargoes CIF NWE (Platts) vs. Gasoil (Euro Denominated) Futures
       
      1060.02.            FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below. The Floating Price shall be converted into Euros and Euro cents using the arithmetic average of the daily European Central Bank Euro/US Dollar foreign exchange reference rate.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below. The Floating Price shall be converted into Euros and Euro cents using the arithmetic average of the daily European Central Bank Euro/US Dollar foreign exchange reference rate.
       
      (A) The settlement prices of the 1st nearby ICE Gasoil or ICE Low Sulphur Gasoil Futures contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd ICE Gasoil or ICE Low Sulphur Gasoil Futures nearby contract will be used.
       
       
       
      Chapter 1148
      FAME 0 Biodiesel FOB Rdam (Argus) (RED Compliant) vs. Gasoil Futures
       
       
      1148101.           CONTRACT SPECIFICATIONS
       
      The Floating Price for each contract month up to and including the December 2014 contract month s equal to the arithmetic average of the mid-point of the bid and ask quotations from Argus Biofuels publication for FAME 0 under the heading "RED Compliant FAME 0 fob Rotterdam" for each business day that such quotation is determined during the contract month minus the arithmetic average of the ICE Gasoil Futures first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point of the bid and ask quotations from Argus Biofuels publication for FAME 0 under the heading "RED Compliant FAME 0 fob Rotterdam" for each business day that such quotation is determined during the contract month minus the arithmetic average of the ICE Low Sulphur Gasoil Futures first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted below.
       
      The settlement price of the 1st nearby ICE Gasoil and or ICE Low Sulphur Gasoil Futures contract month will be used except on the last day of trading for the expiring ICE Gasoil and or ICE Low Sulphur Gasoil Futures contract when the settlement price of the 2nd nearby ICE Gasoil and or ICE Low Sulphur Gasoil Futures contract month will be used.
       
      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
       
       
       
       
       
      Chapter 1150
      RME Biodiesel FOB Rdam (Argus) (RED Compliant) vs. Gasoil Futures
       
      1150101.           CONTRACT SPECIFICATIONS
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point of the bid and ask quotations from Argus Biofuels publication for RME under the heading "RED Compliant Rapeseed OME fob Rotterdam" for each business day that such quotation is determined during the contract month minus the arithmetic average of the ICE Gasoil Futures first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted below.
       
      The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid-point of the bid and ask quotations from Argus Biofuels publication for RME under the heading "RED Compliant Rapeseed OME fob Rotterdam" for each business day that such quotation is determined during the contract month minus the arithmetic average of the ICE Low Sulphur Gasoil Futures first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted below.
       
      The settlement price of the 1st nearby ICE Gasoil and or ICE Low Sulphur Gasoil Futures contract month will be used except on the last day of trading for the expiring ICE Gasoil and or ICE Low Sulphur Gasoil Futures contract when the settlement price of the 2nd nearby ICE Gasoil and or ICE Low Sulphur Gasoil Futures contract will be used.
       
      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.
       
       
       
       
       
       
       
       
       
       
       
       
       
       
      Balance of Month contract rule changes
       
       
      Chapter 473
      Gasoil 0.1 Cargoes CIF MED (Platts) vs. Gasoil BALMO Futures
       
      473.02 FLOATING PRICE
       
      (A) The Floating Price for each contract month up to and including the December 2014 contract month is equal to the balance-of-month arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the first line ICE Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
      Chapter 474
      ULSD 10ppm CIF MED (Platts) vs. Gasoil BALMO Futures
       
      474.02 FLOATING PRICE
       
      (A) The Floating Price for each contract month up to and including the December 2014 contract month is equal to the balance-of-month arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for ULSD 10ppm under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the first line ICE Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for ULSD 10ppm under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
       
      Chapter 475
      Gasoil 0.1 Barges FOB Rdam (Platts) vs. Gasoil BALMO Futures
       
      475.02 FLOATING PRICE
       
      (A) The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading “Barges FOB Rotterdam” minus the first line ICE Gasoil (ICE) Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 50ppm under the heading "Barges FOB Rotterdam" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below, starting from the selected start date through the end of the contract month, inclusively.
       
       (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
       
       
      Chapter 476
      Gasoil 0.1 Cargoes CIF NWE (Platts) vs. Gasoil BALMO Futures
       
      476.02 FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil (ICE) Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
       
       
      Chapter 477
      ULSD 10ppm Cargoes CIF NWE (Platts) vs. Gasoil BALMO Futures
       
      477.02 FLOATING PRICE
       
      (A) The Floating Price for each contract month up to and including the December 2014 contract month is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for ULSD10ppm under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for ULSD10ppm under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
       
       
      Chapter 478
      Diesel 10ppm Barges FOB Rdam (Platts) vs. Gasoil BALMO Futures
       
      478.02 FLOATING PRICE
       
      (A) The Floating Price for each contract month up to and including the December 2014 contract month is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Diesel 10ppm under the heading "Barges FOB Rotterdam" minus the first line ICE Gasoil (ICE) Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      (A) The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Diesel 10ppm under the heading "Barges FOB Rotterdam" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
       
       
      Chapter 479
      Jet Fuel Cargoes CIF NWE (Platts) vs. Gasoil BALMO Futures
       
      479.02.             FLOATING PRICE
       
      (A) The Floating Price for each contract month up to and including the December 2014 contract month is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil (ICE) Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
       
      Chapter 480
      Jet Fuel Barges FOB Rdam (Platts) vs. Gasoil BALMO Futures
       
      480.02.             FLOATING PRICE
       
      (A) The Floating Price for each contract month up to and including the December 2014 contract month is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading "Barges FOB Rotterdam" minus the first line ICE Gasoil (ICE) Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading "Barges FOB Rotterdam" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non-common pricing), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
       
       
       
       
       
       
      Chapter 482
      Gasoil BALMO Futures
       
      482.02.             FLOATING PRICE
       
      (A) The Floating Price for each contract month up to and including the December 2014 contract month is equal to the balance-of-month arithmetic average of the ICE Gasoil first nearby contract month settlement price starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the ICE Low Sulphur Gasoil first nearby contract month settlement price starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.
       
      (B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contracts when the settlement prices of the 2nd nearby contracts will be used.
       
       
       
       
       
       
       
       
      Chapter 996
      Gasoil 50 ppm Barges FOB Rdam (Platts) vs. Gasoil BALMO Futures
       
      996.02.             FLOATING PRICE
       
      The Floating Price for each contract month up to and including the December 2014 contract month is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 50ppm under the heading "Barges FOB Rotterdam" minus the first line ICE Gasoil (ICE) Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below, starting from the selected start date through the end of the contract month, inclusively.
       
      The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts European Marketscan for Gasoil 50ppm under the heading "Barges FOB Rotterdam" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non-common pricing), except as noted in (A) below, starting from the selected start date through the end of the contract month, inclusively.
       
      (A) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby contract will be used.
       
       
       
       
       
       
       
       
      For additional information, please contact:
       
      Paul Wightman           paul.wightman@cmegroup.com        +44 20 3379 3134
      Verena Peternell         verena.peternell@cmegroup.com      +44 20 3379 3723

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