• Listing of Mini Dubai Crude Oil (Platts) Futures and Mini Dubai Crude Oil (Platts) BALMO Futures

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-7055RR
      • Notice Date
      • 03 April 2014
      • Effective Date
      • 27 April 2014

    • This SER supersedes SER 7052R issued on March 20, 2014.

       

      Effective Sunday, April 27, 2014 for trade date Monday, April 28, 2014, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following new crude oil 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 Dubai Crude Oil (Platts) Futures

      DBL

      1209

      Mini Dubai Crude Oil (Platts) BALMO Futures

      DBT

      1210

       

      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 fifty (50) contracts.

       

      The contract specifications are provided below:

      Contract Name

      Mini Dubai Crude Oil (Platts) Futures

      Mini Dubai Crude Oil (Platts) BALMO Futures

      Contract Size

      100 barrels

      100 barrels

      Termination of Trading

      Last business day of the contract month

      Last business day of the contract month

      Minimum Price Fluctuation

      $0.001 per barrel

      $0.001 per barrel

      Value per Tick

      $0.10

      $0.10

      Listing Convention

      CME Globex, CME ClearPort and Open Outcry: Current year and next 2 years

      One month and the following month listed 10 days prior to the start of the contract month

      First Listed Month

      May 2014

      May 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 Dubai Crude Oil (Platts) Futures

      Mini Dubai Crude Oil (Platts) BALMO Futures

      Exchange Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      $0.09

      $0.09

      $0.11

      $0.13

      		  

      Globex

      $0.09

      $0.09

      $0.11

      $0.13

      $0.11

      ClearPort

      		  

      $0.09

      		  

      $0.13

      		  

       

      		          

      Other Processing Fees

      		      

       

      Member

      Non-Member

      		      

      Cash Settlement

      $0.09

      $0.13

       

      Facilitation Desk Fee

      $0.05

       
                     

       

       

      For additional information, please contact:

      Research and Product Development

      Cameron Liao          KengHui.Liao@cmegroup.com                +65 6593 5588

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Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

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