Effective Sunday, August 3, 2014 for trade date Monday, August 4, 2014, and pending all relevant CFTC regulatory review periods, New York Mercantile Exchange, Inc. (NYMEX or Exchange) will amend the CME Globex minimum tick size from $0.0001 to $0.001 for the three (3) contracts listed below. The minimum tick size of $0.0001 for these three (3) contracts for transaction submitted for clearing through CME ClearPort and for trades executed on the NYMEX trading floor will remain unchanged. The affected contracts, along with the associated codes, and rulebook chapter numbers are provided below. Also below are the amendments to the product rule chapters in blackline format.
The contracts, rule chapters, and corresponding codes are as follows:
Contract |
Rule Chapter |
Code |
Henry Hub Natural Gas Penultimate Financial Futures |
529 |
NP |
Henry Hub Natural Gas European Financial Option |
560 |
LN |
Henry Hub Natural Gas Look-Alike Penultimate Financial Futures |
824 |
HP |
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Chapter 529
Henry Hub Natural Gas Penultimate Financial Futures
529.05 PRICES AND FLUCTUATIONS
Prices shall be quoted in U.S. dollars and cents per MMBtu. The minimum price fluctuation shall be $0.0001 per MMBtu for transactions submitted through CME ClearPort or trades executed via open outcry. The minimum price fluctuation shall be $0.001 per MMBtu for trades executed on CME Globex. The maximum price fluctuation shall be consistent with the prevailing price limits of the Henry Hub Natural Gas futures contract.
Chapter 824
Henry Hub Natural Gas Look-Alike Penultimate Financial Futures
824.05. PRICES AND FLUCTUATIONS
Prices shall be quoted in U.S. dollars and cents per MMBtu. The minimum price fluctuation shall be $0.0001 per MMBtu for transactions submitted through CME ClearPort or trades executed via open outcry. The minimum price fluctuation shall be $0.001 per MMBtu for trades executed on CME Globex. The maximum price fluctuation shall be consistent with the prevailing price limits of the Henry Hub Natural Gas futures contract.
Chapter 560
Henry Hub Natural Gas European Financial Option
560.04 PRICES
Prices shall be quoted in dollars and hundredths of cents per MMBtu. A cabinet trade may occur at the price of $.0001 per MMBtu or $1.00, however, if it results in the liquidation of positions of both parties to the trade. The minimum price fluctuation shall be $0.0001 per MMBtu for transactions submitted through CME ClearPort or trades executed via open outcry. The minimum price fluctuation shall be $0.001 per MMBtu for trades executed on CME Globex.
Please refer questions on this subject to:
Research and Product Development
Adila Mchich Adila.mchich@cmegroup.com (212) 299-2270
Products and Services
Stephen Smith Stephen.smith@cmegroup.com (713) 658-9295
Jeff White jeff.white@cmegroup.com (212) 299-2325