• Large Trader Requirements, Initial Spot-Month Limits, All Month/Single Month Accountability Levels, Reporting Levels, Diminishing Balance Designations, and Spot Month Aggregation Allocations for Two (2) New Gasoline Average Price Option Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6991
      • Notice Date
      • 09 January 2014
      • Effective Date
      • 13 January 2014
    • In connection with the launch of two (2) new gasoline average price option contracts on trade date January 13, 2014, (see SER-6956 dated December 12, 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), diminishing balance designations, and spot month aggregation allocations for the new contracts. Effective trade date January 13, 2014, 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. 
       

      Contract Name
      Rule Chap-ter
      Com-modity Code
      Diminish-ing Balance Contract
      Spot-Month Aggregate Into Futures Equivalent Leg (1)
      All Month Aggregate Into Futures Equivalent Leg (2)
      Initial Spot-Month Limit (In Net Futures Equiva-lents)
      Single Month Account-ability Level Leg (1) / Leg (2)
      All Month Account-ability Level Leg (1) / Leg (2)
      Report-ing Level
      Gasoline Euro-bob Oxy NWE Barges (Argus) Crack Spread Average Price Option
      530
      GCE
      *
      7H
      BB
      500/4,000
      2,500/
      10,000
      3,500/
      20,000
      25
       
      RBOB Gasoline Brent Crack Spread Average Price Option
      545
      RBC
      *
      27
      BB
      1,000/
      4,000
      5,000/
      10,000
      7,000/
      20.000
      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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