Effective Sunday, September 25, 2011, for trade date Monday, September 26, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following crude oil swap futures contract for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. The futures contract will be financially settled. The contract is listed with NYMEX, and subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.
The contract title, commodity code, rule chapter, and specifications are provided below:
Contract |
Code |
Chapter |
ICE Brent (Singapore Marker) Swap Futures |
IBS |
1122 |
The Exchange will allow the exchange for related position (EFRP) transactions to be submitted through CME ClearPort. EFRP transactions in this futures contract will be governed by the provisions of Exchange Rule 538.
CONTRACT SPECIFICATIONS
• First Listed Month: October 2011
• Listing Period: 18 consecutive calendar months
• Contract Size: 1,000 barrels
• Termination of Trading: Trading shall cease on the last business day of the contract month
• Minimum Price Tick: $0.001 per barrel
• Value per Tick: $1 per barrel
• Final Settlement Price: minimum settlement tick = $0.001 per barrel
• 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 |
Transaction / Clearing Fee |
Cash Settlement Fee |
||
|
Member |
0.85 |
Member |
0.85 |
ICE Brent (Singapore Marker) Swap Futures |
Non-Member |
1.05 |
Non-Member |
1.25 |
|
Cross Divisional |
1.25 |
Should you have any questions or require any further information, please contact Owain Johnson at (65) 6593-5568 or Richard Stevens at (44) 20-7796-7129.