• Large Trader Requirements, Initial Spot-Month Limits, All Month/Single Month Accountability Levels, Reporting Levels, and Spot Month Aggregation Allocations for Six (6) New Financially-Settled Natural Gas Fixed Price Futures Contracts, and Amendments to Thirteen (13) Existing Related Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6844
      • Notice Date
      • 20 September 2013
      • Effective Date
      • 23 September 2013
    • In connection with the launch of six (6) new financially-settled natural gas fixed price futures contracts on trade date September 23, 2013 (see SER-6819 dated August 29, 2013), please note below the corresponding all month/single month accountability levels (NYMEX Rule 560), initial spot month position limits (NYMEX Rule 559), reportable levels (NYMEXRule 561), and spot month aggregation allocations for the new contracts. Effective trade date September 23, 2013, and pending all relevant CFTC regulatory review periods, the terms and conditions for these contracts will be inserted into the NYMEX Position Limit, Position Accountability and Reportable Level Table located in the Interpretations and Special Notices Section of Chapter 5 of the NYMEX Rulebook, as noted below. The commodity codes are provided for the Clearing Members that file reports pursuant to NYMEX Rule 561.A in a machine-readable format. 
       
      Additional administrative amendments were made to the all month/single month accountability levels, initial spot month position limits, and aggregation allocations of thirteen (13) existing related natural gas futures and option contracts that were affected by the launch of the new contracts.  
       
       
       
      (Bold/underline indicates additions, strikethrough indicates deletions.)

      Contract Name
      Rule Chap-ter
      Com-modity Code
      Spot-Month Aggre-gate Into Futures Equiva-lent Leg (1)
      Spot-Month Aggre-gate Into Futures Equiva-lent Leg (2)
      Initial Spot-Month Limit (In Net Futures Equiva-lents) Leg (1) / Leg (2)
      Single Month Account-ability Level Leg (1) / Leg (2)
      All Month Account-ability Level Leg (1) / Leg (2)
      Report-ing Level
       
      Tennessee 800 Leg Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures
      445
      L4
      W5
      6Z ZZ6
      500/ 150 2,500
      2,500/ 2,000 4,000
      3,500/ 3,000 5,000
      25

       

       
      Tennessee 800 Leg Natural Gas (Platts IFERC) Basis Futures
      432
      6Z
      6Z ZZ6
       
      150 2,500
      2000 4,000
      3000 5,000
      25
       
      Tennessee 800 Leg Natural Gas (Platts IFERC) Fixed Price Futures
      1217
      ZZ6
      ZZ6
       
      2,500
      4,000
      5,000
      25
       
      Texas Gas, Zone 1 Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures
      446
      N4
      Y9
      9F ZTA
      300/ 500 4,500
      1,500/ 5,000
      2,000/ 7,000
      25
       
      Texas Gas, Zone 1 Natural Gas (Platts IFERC) Basis Futures
      434
      9F
      9F ZTA
       
      500 4,500
      5,000
      7,000
      25
       
      Texas Gas Zone 1 Natural Gas (Platts IFERC) Fixed Price Futures
      1215
      ZTA
      ZTA
       
      4,500
      5,000
      7,000
      25
       
      Tennessee 500 Leg Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures
      881
      Y7
      T7
      NM ZNP
      275/ 1,500 4,000
      1,500/ 10,000
      2,000/ 10,000
      25
       
      Tennessee 500 Leg Natural Gas (Platts IFERC) Basis Futures
      770
      NM
      NM ZNP
       
      1500 4,000
      10,000
      10,000
      25
       
      Tennessee 500 Leg Natural Gas (Platts IFERC) Fixed Price Futures
      1216
      ZNP
      ZNP
       
      4,000
      10,000
      10,000
      25
       
      Tennessee Zone 0 Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures
      879
      Q4
      T4
      NQ ZNT
      75/ 1,500 3,000
      750/10,000
      1,000/ 10,000
      25
       
      Tennessee Zone 0 Natural Gas (Platts IFERC) Basis Futures
      771
      NQ
      NQ ZNT
       
      1500 3,000
      10,000
      10,000
      25

       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       

       
      Tennessee Zone 0 Natural Gas (Platts IFERC) Fixed Price Futures
      1218
      ZNT
      ZNT
       
      3,000
      10,000
      10,000
      25
       
      TETCO M-3 Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures
      798
      IX
      SX
      NX Z5P
      1,500/ 1,500 8,500
      10,000/ 10,000
      10,000/ 10,000
      25
       
      Texas Eastern Zone M-3 Natural Gas (Platts IFERC) Basis Option
      621B
      5N
      NX Z5P
       
      1500 8,500
      10,000
      10,000
      25
       
      Texas Eastern Zone M-3 Natural Gas (Platts IFERC) Basis Futures
      621
      NX
      NX Z5P
       
      1500 8,500
      10,000
      10,000
      25
       
      Texas Eastern Zone M-3 Natural Gas (Platts IFERC) Fixed Price Futures
      1214
      Z5P
      Z5P
       
      8,500
      10,000
      10,000
      25
       
      TETCO STX Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures
      878
      Q2
      T2
      TX ZTS
      50/ 1,000 2,000
      500/10,000
      750/10,000
      25
       
      TETCO STX Natural Gas (Platts IFERC) Basis Futures
      641
      TX
      TX ZTS
       
      1000 2,000
      10,000
      10,000
      25
       
      TETCO STX Natural Gas (Platts IFERC) Fixed Price Futures
      1219
      ZTS
      ZTS
       
      2,000
      10,000
      10,000
      25

       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
      Please refer questions on this subject to:
      Market Surveillance
      Chris Reinhardt                                      Chris.Reinhardt@cmegroup.com                        (212) 299-2882
      Ryne Toscano                                       Ryne.Toscano@cmegroup.com                                     (212) 299-2879
       
       
       

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