• Listing of Capesize 2014 Timecharter Average (Baltic) Futures Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-7133
      • Notice Date
      • 08 August 2014
      • Effective Date
      • 24 August 2014

    • Effective Sunday, August 24, 2014, for trade date Monday, August 25, 2014, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following dry bulk freight futures contract:

       

      Contract

      Code

      Rule Chapter

      Capesize 2014 Timecharter Average (Baltic) Futures Contract

      CF2

      769

       

      The Capesize 2014 Timecharter Average (Baltic) Futures contract will be listed for trading on CME Globex, the NYMEX trading floor and for submission for clearing through CME ClearPort. 

       

      Block trades be permitted for this contract, with a minimum transaction size of 5 lots, consistent with similar freight futures contracts.

       

      Summary contract specifications are as follows:

       

      Contract

      Capesize 2014 Timecharter Average (Baltic) Futures

      Commodity Code

      CF2

      Contract Unit

      1 charter day

      Price Quotation

      US Dollars and cents per day

      Minimum Price Tick

      $1

      Minimum Price Tick for
      Final Settlement Price

      $0.01

      First Listed Month

      September 2014

      Listing Period

      CME Globex: 1 month,

      NYMEX Trading Floor and CME ClearPort:  every month for current year plus next four calendar years

      Termination of Trading

      For contract months January to November inclusive: the last business day of the calendar  month

      For December contract months:  the 24th calendar day of the month, or if this is not a business day, the first preceding business day

      Trading Hours: Open Outcry

      Monday – Friday 9:00 a.m. to 2:30 p.m. Eastern Time/ET (8:00 a.m. to 1:30 p.m. Central Time/CT)

      Trading Hours: CME Globex and CME ClearPort

      Sunday – Friday 6:00 p.m. – 5:15 p.m. ET  (5:00 p.m. – 4:15 p.m. CT)
      with a 45-minute break each day beginning at 5:15 p.m. ET (4:15 p.m. CT)

       

       

      Exchange Fees

       

      Exchange Fees

       

       

      Member

      Cross Division

      Non-Member

      IIP

       

      Pit

      $4.80

      $5.40

      $6.00

      		  

       

      Globex

      $4.80

      $5.40

      $6.00

      $5.40

       

      ClearPort

      $4.80

      		  

      $6.00

      		  

       

      Agency Cross

      $4.80

       

      $6.00

       

       
                 

      Other Processing Fees

      		      

       

      Member

      Non-Member

      		      

      Cash Settlement

      $0.50

      $0.50

      		  

       
                           

       

      Additional Fees and Surcharges

      		      

      Facilitation Desk Fee

      $1.00

      		  

       
                 

       

      For further information please contact Joanna McMaster at +44 20 3379 3837 or Mok Wing Chew at +65 6593 5583.

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