• Listing of Eight (8) Middle East Refined Product Futures

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-7015
      • Notice Date
      • 05 February 2014
      • Effective Date
      • 02 March 2014
    • Effective Sunday, March 2, 2014 for trade date Monday, March 3, 2014, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following new refined product futures contracts for trading on CME Globex, the NYMEX trading floor, and for submission for clearing through CME ClearPort.

      Product Name
      Commodity Code
      NYMEX Rule Chapter
      Mini Middle East Naphtha FOB Arab Gulf (Platts) Futures
      MME
      1166
      Middle East Gasoil FOB Arab Gulf (Platts) Futures
      MPE
      1167
      Mini Middle East HSFO 180 cst FOB Arab Gulf (Platts) Futures
      MHE
      1168
      Mini Middle East HSFO 380 cst FOB Arab Gulf (Platts) Futures
      MSE
      1169
      Mini Middle East Naphtha FOB Arab Gulf (Platts) BALMO Futures
      MNE
      1171
      Middle East Gasoil FOB Arab Gulf (Platts) BALMO Futures
      MBS
      1172
      Mini Middle East HSFO 180 cst FOB Arab Gulf (Platts) BALMO Futures
      MGS
      1173
      Mini Middle East HSFO 380 cst FOB Arab Gulf (Platts) BALMO Futures
      MHS
      1174

       
      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 these contracts at a block trade minimum threshold of two (2) contracts.
       
      The contract specifications are provided below:
       
      Futures Contracts:
      Mini Middle East Naphtha FOB Arab Gulf (Platts) Futures
      Mini Middle East HSFO 180 cst FOB Arab Gulf (Platts) Futures
      Mini Middle East HSFO 380 cst FOB Arab Gulf (Platts) Futures

      Contract Size
      100 metric tons
      Termination of Trading
      Last business day of the contract month
      Minimum Price Fluctuation
      $0.001 per metric ton
      Value per Tick
      $0.10
      Listing Convention
      CME Globex, CME ClearPort and Open Outcry: 12 consecutive months
      First Listed Month
      March 2014

       
      Futures Contracts:
      Middle East Gasoil FOB Arab Gulf (Platts) Futures

      Contract Size
      1,000 barrels
      Termination of Trading
      Last business day of the contract month
      Minimum Price Fluctuation
      $0.001 per barrel
      Value per Tick
      $1.00
      Listing Convention
      CME Globex, CME ClearPort and Open Outcry: 12 consecutive months
      First Listed Month
      March 2014

       
      Futures Contracts:
      Mini Middle East Naphtha FOB Arab Gulf (Platts) BALMO Futures
      Mini Middle East HSFO 180 cst FOB Arab Gulf (Platts) BALMO Futures
      Mini Middle East HSFO 380 cst FOB Arab Gulf (Platts) BALMO Futures

      Contract Size
      100 metric tons
      Termination of Trading
      Last business day of the contract month
      Minimum Price Fluctuation
      $0.001 per metric ton
      Value per Tick
      $0.10
      Listing Convention
      CME Globex, CME ClearPort and Open Outcry: One month, and the next contract month will be listed ten business days before the contract month
      First Listed Month
      March 2014

       
      Futures Contracts:
      Middle East Gasoil FOB Arab Gulf (Platts) BALMO Futures

      Contract Size
      1,000 barrels
      Termination of Trading
      Last business day of the contract month
      Minimum Price Fluctuation
      $0.001 per barrel
      Value per Tick
      $1.00
      Listing Convention
      CME Globex, CME ClearPort and Open Outcry: One month, and the next contract month will be listed ten business days before the contract month
      First Listed Month
      March 2014

       
      Trading and Clearing hours:
      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-minutebreak each day beginning at 5:15 p.m. (4:15 p.m. CT)
      Open Outcry:   
      Monday – Friday 9:00 a.m. to 2:30 p.m. (8:00 a.m. to 1:30 p.m. CT)
       
       
       
       
       
      Fee Schedule:
       
      Futures Contracts:
      Mini Middle East Naphtha FOB Arab Gulf (Platts) Futures
      Mini Middle East Naphtha FOB Arab Gulf (Platts) BALMO Futures

      Exchange Fees
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      $0.80
      $0.80
      $0.90
      $1.00
      Globex
      $0.80
      $0.80
      $0.90
      $1.00
      $0.90
      ClearPort
      $0.80
      $1.00
       
      Other Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $0.10
      $0.10
       
      Facilitation Desk Fee
      $0.20
       

       
       
      Futures Contracts:
      Middle East Gasoil FOB Arab Gulf (Platts) Futures
      Middle East Gasoil FOB Arab Gulf (Platts) BALMO 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
       
      Other Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $0.85
      $1.25
       
      Facilitation Desk Fee
      $0.40
       

       
       
      Futures Contracts:
      Mini Middle East HSFO 180 cst FOB Arab Gulf (Platts) Futures
      Mini Middle East HSFO 180 cst FOB Arab Gulf (Platts) BALMO Futures
      Mini Middle East HSFO 380 cst FOB Arab Gulf (Platts) Futures
      Mini Middle East HSFO 380 cst FOB Arab Gulf (Platts) BALMO Futures

      Exchange Fees
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      $0.80
      $0.80
      $0.90
      $1.00
      Globex
      $0.80
      $0.80
      $0.90
      $1.00
      $0.90
      ClearPort
      $0.80
      $1.00
       
      Other Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $0.80
      $1.00
       
      Facilitation Desk Fee
      $0.10
       

       
       
      For additional information, please contact:
      Research and Product Development
      Cameron Liao          KengHui.Liao@cmegroup.com                +65 6593 5588

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