• Amendments to Six (6) Brent Crude Oil CFD Futures Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6702
      • Notice Date
      • 10 June 2013
      • Effective Date
      • 16 June 2013
    • Effective Sunday, June 16, 2013, for trade date Monday, June 17, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will amend six (6) Brent crude oil CFD futures contracts to provide enhanced clarification of the product names and the description of the floating price. Please note that the amendments are administrative in nature and will, in no manner, impact the structure of the contract or related contracts.
       
      These contracts are available for trading on the NYMEX trading floor and CME Globex, and for submission for clearing through CME ClearPort. The six (6) contracts effected, and the amended contract names are as follows:
       
       

      Rule Chapter
      Clearing Code
      Current Product Name
      New Product Name
      1144
      CFA
      Brent CFD (Platts) vs. Brent Front Month (Platts) Weekly Futures
      Brent CFD: Dated Brent (Platts) vs. Brent Front Month (Platts) Weekly Futures
      1145
      CFB
      Brent CFD (Platts) vs. Brent Second Month (Platts) Weekly Futures
      Brent CFD: Dated Brent (Platts) vs. Brent Second Month (Platts) Weekly Futures
      1146
      CFC
      Brent CFD (Platts) vs. Brent Third Month (Platts) Weekly Futures
      Brent CFD: Dated Brent (Platts) vs. Brent Third Month (Platts) Weekly Futures
      319
      1C
      Brent CFD (Platts) vs. Brent Front Month (Platts) Futures
      Brent CFD: Dated Brent (Platts) vs. Brent Front Month (Platts) Daily Futures
      699
      6W
      Brent CFD (Platts) vs. Brent Second Month (Platts) Futures
      Brent CFD: Dated Brent (Platts) vs. Brent Second Month (Platts) Daily Futures
      316
      59
      Brent CFD (Platts) vs. Brent Third Month (Platts) Futures
      Brent CFD: Dated Brent (Platts) vs. Brent Third Month (Platts) Daily Futures

       
       
      The rule amendments are as follows:
       
      (Underscore denotes addition; Strikethrough denotes deletion)
       
      Chapter 1144
      Brent CFD (Platts) vs. Brent Front Month (Platts) Weekly Futures Brent CFD: Dated Brent (Platts) vs. Brent Front Month (Platts) Weekly Futures
       
       
      Chapter 1145
      Brent CFD (Platts) vs. Brent Second Month (Platts) Weekly Futures Brent CFD: Dated Brent (Platts) vs. Brent Second Month (Platts) Weekly Futures
       
       
      Chapter 1146
      Brent CFD (Platts) vs. Brent Third Month (Platts) Weekly Futures Brent CFD: Dated Brent (Platts) vs. Brent Third Month (Platts) Weekly Futures
       
       
      Chapter 319
      Brent CFD (Platts) vs. Brent Front Month (Platts) Futures Brent CFD: Dated Brent (Platts) vs. Brent Front Month (Platts) Daily Futures
       
      319.02 FLOATING PRICE
      The Floating Price for each Brent Contract for Differences (CFD) contract is the daily mid-point between the high and low quotations from the Platts Crude Oil Marketwire for the CFD assessment which is based on Dated Brent minus the first month Brent (also referred to BFOE) cash price for each business day that both prices are determined during the contract day.
       
       
      Chapter 699
      Brent CFD (Platts) vs. Brent Second Month (Platts) Futures Brent CFD: Dated Brent (Platts) vs. Brent Second Month (Platts) Daily Futures
       
      699.02. FLOATING PRICE
      The Floating Price for each Brent Contract for Differences (CFD) contract is the daily mid-point between the high and low quotations from the Platts Crude Oil Marketwire for the CFD assessment which is based on Dated Brent minus the second month Brent (also referred to BFOE) cash price for each business day that both prices are determined during the contract day.
       
       
      Chapter 316
      Brent CFD (Platts) vs. Brent Third Month (Platts) Futures Brent CFD: Dated Brent (Platts) vs. Brent Third Month (Platts) Daily Futures
       
      316.02. FLOATING PRICE
      The Floating Price for each Brent Contract for Differences (CFD) contract is the daily mid-point between the high and low quotations from the Platts Crude Oil Marketwire for the CFD assessment which is based on Dated Brent minus the third month Brent (also referred to BFOE) cash price for each business day that both prices are determined during the contract day.
       
       
       
       
      For additional information, please contact:
       
      Richard Stevens         Richard.Stevens@cmegroup.com      +44 20 3379 3790 
       

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