-
Notification Regarding the Listing of Four Argus Sour Crude Index ("ASCI") Products and Argus WTI Formula Basis Calendar Month Swap Futures on the NYMEX Trading Floor and through CME ClearPort® and Fee Waiver until June 30, 2010
-
-
- To
- Members, Member Firms and Market Users
-
- From
- Market Regulation Department
-
- #
- SER-5041
-
- Notice Date
- 13 November 2009
-
- Effective Date
- 22 November 2009
-
Effective Sunday, November 22 for trade date Monday, November 23, in addition to the listing of the Argus Sour Crude Index (“ASCI”) Trade Month Swap Futures contract (previously announced on October 30), the New York Mercantile Exchange, Inc. (“NYMEX”) will list three new ASCI products and the Argus WTI Formula Basis Calendar Month Swap Futures.
The five new products available November 23 are:
· Argus Sour Crude Index (“ASCI”) Trade Month Swap Futures (Code 29/Rule 221)
· Argus Sour Crude Index (“ASCI”) vs. WTI Diff Spread Trade Month Swap Futures (Code 36/Rule 222)
· Argus Sour Crude Index (“ASCI”) Calendar Month Swap Futures (Code 37/Rule 223)
· Argus Sour Crude Index (“ASCI”) vs. WTI Diff Spread Calendar Month Swap Futures (Code 38/Rule 224)
· Argus WTI Formula Basis Calendar Month Swap Futures (Code 39/Rule 225)
These contracts will be available for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes. These contracts are listed with NYMEX, and subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc. The first listed month for these contracts will be the January 2010 contract month. The contracts will be listed for 36 consecutive contract months.
The fees for the new contracts are listed below. The fees for the ASCI products will be waived until June 30, 2010.
The fees for the Argus Sour Crude Index (“ASCI”) Trade Month Swap Futures contract (code 29) are:
CPC Billing Rates
NY Trading Floor Rates
Cash Settlement Fee
Member
$0.85
Member
$0.85
Member
$0.85
Non-Member
$1.35
Non-Member
$1.35
Non-Member
$1.35
Blended Floor Rate
$1.10
The fees for the Argus Sour Crude Index (“ASCI”) vs. WTI Diff Spread Trade Month Swap Futures contract (code 36) are:
CPC Billing Rates
NY Trading Floor Rates
Cash Settlement Fee
Member
$2.20
Member
$2.20
Member
$2.20
Non-Member
$2.70
Non-Member
$2.70
Non-Member
$2.70
Blended Floor Rate
$2.45
The fees for the Argus Sour Crude Index (“ASCI”) Calendar Month Swap Futures contract (code 37) are:
CPC Billing Rates
NY Trading Floor Rates
Cash Settlement Fee
Member
$0.85
Member
$0.85
Member
$0.85
Non-Member
$1.35
Non-Member
$1.35
Non-Member
$1.35
Blended Floor Rate
$1.10
The fees for the Argus Sour Crude Index (“ASCI”) vs. WTI Diff Spread Calendar Month Swap Futures contract (code 38) are:
CPC Billing Rates
NY Trading Floor Rates
Cash Settlement Fee
Member
$2.20
Member
$2.20
Member
$2.20
Non-Member
$2.70
Non-Member
$2.70
Non-Member
$2.70
Blended Floor Rate
$2.45
The fees for the Argus WTI Formula Basis Calendar Month Swap Futures contract (code 39) are:
CPC Billing Rates
NY Trading Floor Rates
Cash Settlement Fee
Member
$0.85
Member
$0.85
Member
$0.85
Non-Member
$1.35
Non-Member
$1.35
Non-Member
$1.35
Blended Floor Rate
$1.10
Trading and clearing hours are:
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. – 1:30 p.m. CT).
For more information please contact Daniel Brusstar at (212) 299-2604.
-
© 2025 CME Group Inc. All rights reserved.