• Listing of a European Naphtha (Platts) Cargoes CIF NWE Average Price Option

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6115
      • Notice Date
      • 08 February 2012
      • Effective Date
      • 26 February 2012

    • Effective Sunday, February 26, 2012, for trade date Monday, February 27, 2012, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list a European Naphtha (Platts) Cargoes CIF NWE Average Price Option contract for open outcry trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. This contract is listed with, and subject to, the rules and regulations of NYMEX.

       

      SPECIFICATION SUMMARY

      Contract Name

      European Naphtha (Platts) Cargoes CIF NWE Average Price Option

      Commodity Code

      NWE

      Chapter

      1213

      Option Type

      European

      Settlement Type

      Financial

      Underlying Futures

      European Naphtha (Platts) Calendar Swap Futures (UN)

      Contract Unit

      1,000 metric tons

      Expiration Date

      The last business day of the contract month

      Minimum Price Fluctuation

      $0.01 per metric ton

      Strike Price Interval

      $0.25

      First Listed Contract

      March 2012

      Listing Convention

      12 consecutive calendar months

      •    Trading Hours:

           Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 p.m. – 1:30 p.m. Chicago Time/CT).

           CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. 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

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      n/a

      $6.00

      $7.50

      $9.00

      		  

      Globex

      n/a

      n/a

      n/a

      n/a

      n/a

      ClearPort

      		  

      $6.00

      		  

      $9.00

      		  

      Other Processing Fees

      Additional Fees and Surcharges

       

      Member

      Non-Member

      EFS Surcharge

      n/a

      Cash Settlement

      $6.00

      $9.00

      Block Surcharge

      n/a

      Futures from E/A

      n/a

      n/a

      Facilitation Desk Fee

      $0.40

       

      House Acct

      Customer Acct

      		  

       

      Options E/A Notice

      n/a

      n/a

      		  

      Delivery Notice

      n/a

      n/a

      		  
                     

       

      For additional information, please contact Richard Stevens at +44 20 3379 3790.

       

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