• Listing of Three (3) New Balance-of-Month Petroleum Futures on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5507
      • Notice Date
      • 07 December 2010
      • Effective Date
      • 19 December 2010

    • Effective Sunday, December 19, 2010, for trade date Monday, December 20, 2010, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following balance-of-month (BALMO) petroleum futures contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. The futures contracts will be financially settled. The contracts are listed with NYMEX, and subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc. 

      The contract titles, commodity codes, rule chapters, first listed month and listing periods are provided in the table below.

      Contract

      Code

      Rule Chapter

      First Listed Month

      Listing Period

      New York 1% Fuel Oil (Platts) Crack Spread BALMO Swap Futures

      NFC

      217

      January 2011

      One month and the following month listed 10 business days prior to the start of the contract month.

      Gulf Coast No. 6 Fuel Oil (Platts) Crack Spread BALMO Swap Futures

      GFC

      218

      January 2011

      One month and the following month listed 10 business days prior to the start of the contract month.

      New York 1% Fuel oil vs. Gulf Coast 3% Fuel Oil (Platts) BALMO Swap Futures

      NFG

      219

      January 2011

      One month and the following month listed 10 business days prior to the start of the contract month.

      The Exchange will allow the exchange for related position (EFRP) transactions to be submitted through CME ClearPort.  EFRP transactions in these futures contracts will be governed by the provisions of Exchange Rule 538.


      Contract Size:

       

      NFC, GFC, and NFG: 1,000 Barrels

      Termination of Trading:

      NFC, GFC, and NFG:  Trading shall cease on the last business day of the contract month.

      Minimum Price Intervals and Value per Tick:

      NFC, GFC, and NFG:   Minimum price tick = $0.001   Value per tick = $1.00

      Final Settlement Price:

      NFC, GFC, and NFG:   Settlement tick = $0.001

      Trading and Clearing Hours:

      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).

      Fees:

      Contract

      CME ClearPort Rates

      NY Trading Floor Rates

      Cash Settlement Fee

      New York Harbor Residual Fuel (Platts) Crack Spread BALMO Swap Futures

      Member

      $0.85

      Member

      $0.85

      Member

      $0.85

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $1.35

       

      Blended Floor

      $1.10

      		 

      Gulf Coast No. 6 Fuel Oil (Platts) Crack Spread BALMO Swap Futures

      Member

      $0.85

      Member

      $0.85

      Member

      $0.85

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $1.35

       

      Blended Floor

      $1.10

      		 

      1% Fuel Oil vs. Gulf Coast 3% Fuel Oil (Platts) BALMO Swap Futures

      Member

      $0.85

      Member

      $0.85

      Member

      $0.85

      Non-Member

      $1.35

      Non-Member

      $1.35

      Non-Member

      $1.35

       

      Blended Floor

      $1.10

       

       

      For more information please contact Daniel Brusstar at 212-299-2604.

       

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