• Listing of Physically-Delivered Zinc Futures Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-7393
      • Notice Date
      • 11 June 2015
      • Effective Date
      • 28 June 2015

    • Effective Sunday, June 28, 2015 for trade date Monday, June 29, 2015, and pending all relevant CFTC regulatory review periods, Commodity Exchange, Inc. (COMEX or Exchange) will list a new physically-delivered Zinc Futures contract (commodity code:  ZNC; rulebook chapter 186).

      This contract will be available for trading on CME Globex, and for submission for clearing through CME ClearPort.

      The contract specifications are provided below:

      Contract Name

      Zinc Futures

      Commodity Code

      ZNC

      Rulebook Chapter

      186

      Contract Size

      25 metric tons

      Listing Schedule

      CME Globex and CME ClearPort: 12 consecutive months

       

      Termination of Trading

      Third last business day of the contract month

      Minimum Price Fluctuation

      $0.50

      Delivery Day

      All business days during the delivery month

      Value per Tick

      $12.50

      First Listed and Delivery Month

      October 2015

      Block Trade Minimum Threshold

      10 contracts

      CME Globex Match Algorithm

      First In First Out (FIFO)

       

      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).

      Trading and Clearing Fees:

      Exchange Fees

      Pit*

      Globex

      ClearPort

      Agency Cross

      Member Day Rate

      $0.55

      $0.55

       

       

      Member Overnight Rate

      $0.70 (EFR/EFP $0.85)

      $0.70

      $0.70 (EFR/EFP $0.85)

      $0.70

      Cross Division Rate

      $0.95 (EFR/EFP $1.20)

      $0.95

       

       

      Non-Member Rate

      $1.45

      $1.45

      $1.45

      $1.45

      International Incentive Program (IIP) and International Volume Incentive Program (IVIP)

      		  

      $0.88

       

       

      Asian Incentive Program (AIP), Central Bank Incentive Program (CBIP), Emerging Markets Bank Incentive Program (EMBIP), Latin American Commercial Incentive Program (LACIP), Latin American Fund Manager Incentive Program (FMIP), Latin American Proprietary Trading Incentive Program (LAPTIP) Participants 

       

      $1.10

       

      Other Processing Surcharges

      Member

      Non-Member

      		  

      Futures from Exercise/Assignment

       $0.70

      $1.45 

      		  

       Other Processing Surcharges

      House Account

      Customer Account

      		  

      Delivery Notice

      $1.00 

      $1.00 

      		  

      Other Processing Surcharges

      Rate

      		 

      EFR Surcharge

      $2.50

      		  

      Block Surcharge

      $0.10

      Facilitation Fee

      $0.50

      Give-up Surcharge

      $0.05

      Position Transfer/Position Adjustment

      $0.10

      * Effective as of the close of trading on July 2, 2015, the NYMEX and COMEX futures pits will be closed for open

        outcry trading.  Brokers will still be able to submit Block Trades, EFPs, and EFRs through Front-End Clearing

        System (FEC); these trades will be assessed Pit Exchange Fees in addition to any surcharges.

       

      Metals Research:

      Joann Arena                              joann.arena@cmegroup.com                             212.299.2356

      Sandra Ro                                sandra.ro@cmegroup.com                                +44 203 379 3789

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