• Listing of Crude Oil Crack Spread Futures Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-7065
      • Notice Date
      • 07 April 2014
      • Effective Date
      • 27 April 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 crack spread futures contract for trading on CME Globex, the NYMEX trading floor, and for submission for clearing through CME ClearPort.

      Product Name

      Commodity Code

      NYMEX Rule Chapter

      Japan C&F Naphtha Dubai (Platts) Crack Spread Futures

      JNC

      865

       

      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 five (5) contracts.

       

      The contract specifications are provided below:

      Contract Name

      Japan C&F Naphtha Dubai (Platts) Crack Spread Futures

      Contract Size

      1,000 barrels

      Termination of Trading

      Last Singapore business day of the contract month

      Minimum Price Fluctuation

      $0.001 per barrel

      Value per Tick

      $1.00

      Settlement Type

      Financial

      Listing Convention

      CME Globex, CME ClearPort and Open Outcry: Current year and next 1 year

      First Listed Month

      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:

       

      Exchange Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      $2.20

      $2.20

      $2.45

      $2.70

       

      Globex

      $0.85

      $0.85

      $1.05

      $1.25

      $1.05

      ClearPort

      		  

      $0.85

       

      $1.25

       
                 

      Other Processing Fees

      		      

       

      Member

      Non-Member

      		      

      Cash Settlement

      $2.20

      $2.70

      		  
                     

       

      Additional Fees and Surcharges

      		      

       

      Facilitation Desk Fee

      $0.40

      		  
                 

       

       

      For additional information, please contact:

       

      Alan Bannister          Alan.Bannister@cmegroup.com             +65 6593 5565

      Mok Wing Chew        WingChew.Mok@cmegroup.com           +65 6593 5583

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
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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