• Launch of HMS 80/20 Ferrous Scrap, CFR Turkey (Platts) Swap Futures on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5678
      • Notice Date
      • 31 March 2011
      • Effective Date
      • 17 April 2011

    • Please be advised that effective Sunday, April 17, 2011, for trade date Monday, April 18, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list an HMS 80/20 Ferrous Scrap, CFR Turkey (Platts) Swap Futures contract for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort.  The contract will be listed with NYMEX, and subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.

      Contract Name

      HMS 80/20 Ferrous Scrap, CFR Turkey (Platts) Swap Future

      Code

      FSF

      Contract Unit

      50 metric tons

      Price Quotation

      U.S. dollars and cents per metric ton

      Minimum Price Tick

      $0.01

      Minimum Settlement Tick

      $0.01

      First Listed Month

      May 2011

      Listing Period

      24 consecutive months

      Termination of Trading

      Trading terminates on the last business day of the contract month.  If the last business day of the contract month is a UK banking holiday, the last trade date will be the business day immediately preceding the holiday

      Settlement Index

      Platts

      Rule Chapter

      867

      Trading Hours

      ·         Open Outcry:  Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT)

      ·         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)

      Exchange Fees

      Exchange Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      $4.00

      $4.00

      $5.00

      $6.00

       

      Globex

      N/A

      N/A

      N/A

      N/A

      N/A

      ClearPort

       

      $4.00

       

      $6.00

       

       

      Processing Fees

       

      Member

      Non-Member

      Cash Settlement

      $1.00

      $1.00

      Futures from E/A

      N/A

      N/A

       

      House Account

      Customer Account

      Options E/A Notice

      N/A

      N/A

      Delivery Notice

      N/A

      N/A

       

      Additional Fees and Surcharges

      EFS Surcharge

      N/A

      Block Surcharge

      N/A

      Facilitation Desk Fee

      $1.00

       

      ClearPort Volume Discount Program - Exchange Fees

       

      Volume Threshold

      Disc. Member Rate

      Disc. Non-Member Rate

      ClearPort

      n/a

      n/a

      n/a

      For more information please contact Joann Arena at (212) 299-2356.

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