• Listing Three (3) New Crude Oil Futures Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-7239
      • Notice Date
      • 12 November 2014
      • Effective Date
      • 07 December 2014

    • Effective Sunday, December 7, 2014, and for trade date Monday, December 8, 2014, and pending all relevant CFTC regulatory review, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list three (3) new cash-settled Louisiana Light Sweet (LLS) crude oil futures contracts for trading on NYMEX trading floor and CME Globex, and for submission for clearing through CME ClearPort. 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. Contracts specifications are as follows:

       

      SPECIFICATIONS

       

      Product Code
      CPC/

      Globex

      Product Name

      Rule

      Chapter

      Listing Schedule

      Contract Size

      Minimum Price Fluctuation

      First Listed Contract

      Month

      Value per Tick

      Block Trade Minimum Threshold

      LBB/LBB

      LLS (Argus) vs. Brent BALMO Futures

      314

      CPC/Floor/GLBX: One month and the following month listed 10 business days prior to the start of the contract month.

      1000 barrels

      $0.01

      Jan-15

      $10

      5

      LWB/LWB

      LLS (Argus) vs. WTI BALMO Futures

      315

      CPC/Floor/GLBX:  One month and the following month listed 10 business days prior to the start of the contract month.

      1000 barrels

      $0.01

      Jan-15

      $10

      5

      LLR/LLR

      LLS (Argus) vs. Brent Financial Futures

      317

      CPC/Floor/GLBX: 30 consecutive months

      1000 barrels

      $0.01

      Jan-15

      $10

      10

       

       

      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-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)

      Open Outcry

      Monday - Friday 9:00 a.m. - 2:30 p.m. (8:00 a.m. to 1:30 p.m. CT)

       

       

      FEES

                 

      Exchange Fees

       

       

      Member

      Cross Division

      Non-Member

      IIP

       

      Pit

      $0.85

      $1.10

      $1.35

      		  

       

      Globex

      $0.85

      $1.10

      $1.35

      $1.10

       

      ClearPort

      $0.85

      		  

      $1.35

      		  

       

      Agency Cross

      $0.85

       

      $1.35

       

       
                 

       

      Other Processing Fees

      		      

       

       

      Member

      Non-Member

      		      

       

      Cash Settlement

      $0.50

      $0.50

      		  

       
                                 

       

      Additional Fees and Surcharges

      		      

       

      Facilitation Desk Fee

      $0.25

      		  
                 

       

       

      For additional information, please contact:

       

      Business Line Management

      Russell Karas                            Russell.Karas@cmegroup.com                          212.299.2345

       

      Energy Research:

      Funda Saygin                            Funda.Saygin@cmegroup.com                          212.299.2338

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