• Delayed-Listing of Three (3) New Petroleum Futures Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6779RR
      • Notice Date
      • 10 October 2013
      • Effective Date
      • 10 October 2013
    • SER #6779RRR dated October 28, 2013 supersedes this SER
       
      This SER supersedes SER #6779R dated August 23, 2013 to delay the effective date.
       
      Due to the suspension of the CFTC regulatory review period, a result of the U.S. government shutdown, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) is delaying listing of three (3) new petroleum futures contracts.
       
      A revised effective date for listing the new contracts will be determined once CFTC regulatory review activities are resumed. The Exchange will then list the following three (3) new petroleum contracts for trading on CME Globex, the NYMEX trading floor, and for submission for clearing through CME ClearPort.
       
      • European Diesel 10ppm Barges FOB Rdam (Platts) vs. NY Harbor ULSD Futures
      • ULSD 10ppm Cargoes CIF NWE (Platts) vs. NY Harbor ULSD Futures
      • ULSD 10ppm Cargoes CIF Med (Platts) vs. NY Harbor ULSD Futures
       
      Also concurrent with the launch of this contract, and pending all relevant CFTC regulatory review periods, the Exchange will permit block trading pursuant to Rule 526 (Block Trades) in this contract at a block trade minimum threshold of five (5) contracts. 
       
       
      The contract titles, commodity codes, rule chapters, and specifications are provided below:

      Contract Name
      European Diesel 10ppm Barges FOB Rdam (Platts) vs. NY Harbor ULSD Futures
      Commodity Code
      EL1
      Chapter
      858
      Settlement Type
      Financial
      Contract Size
      The contract quantity shall be 1,000 metric tons. The NYMEX ULSD contract will be converted to USD per metric tons using a conversion factor of 1 metric ton = 312.9 gallons. Each contract shall be valued as the contract quantity multiplied by the settlement price.
      Termination of Trading
      Trading shall cease on the last London business day of the contract month
      Minimum Price Fluctuation
      $0.001 per metric ton
      Final Settlement Price Tick
      $0.001 per metric ton
      First Listed Month
      November 2013 (dependent upon the CFTC’s resumption of
      regulatory review activity)
      Listing Convention
      For Globex, monthly contracts shall be listed for two consecutive calendar months. ClearPort and NYMEX trading floor shall be listed for twenty four consecutive months.

       
       
       
       

      Contract Name
      ULSD 10ppm Cargoes CIF NWE (Platts) vs. NY Harbor ULSD Futures
      Commodity Code
      EO1
      Chapter
      1207
      Settlement Type
      Financial
      Contract Size
      The contract quantity shall be 1,000 metric tons. The NYMEX ULSD contract will be converted to USD per metric tons using a conversion factor of 1 metric ton = 312.9 gallons. Each contract shall be valued as the contract quantity multiplied by the settlement price.
      Termination of Trading
      Trading shall cease on the last London business day of the contract month
      Minimum Price Fluctuation
      $0.001 per metric ton
      Final Settlement Price Tick
      $0.001 per metric ton
      First Listed Month
      November 2013 (dependent upon the CFTC’s resumption of
      regulatory review activity)
      Listing Convention
      For Globex, monthly contracts shall be listed for two consecutive calendar months. ClearPort and NYMEX trading floor shall be listed for twenty four consecutive months.

       

      Contract Name
      ULSD 10ppm Cargoes CIF Med (Platts) vs. NY Harbor ULSD Futures
      Commodity Code
      EP1
      Chapter
      1208
      Settlement Type
      Financial
      Contract Size
      The contract quantity shall be 1,000 metric tons. The NYMEX ULSD contract will be converted to USD per metric tons using a conversion factor of 1 metric ton = 312.9 gallons. Each contract shall be valued as the contract quantity multiplied by the settlement price.
       
      Termination of Trading
      Trading shall cease on the last London business day of the contract month
      Minimum Price Fluctuation
      $0.001 per metric ton
      Final Settlement Price Tick
      $0.001 per metric ton
      First Listed Month
      November 2013 (dependent upon the CFTC’s resumption of
      regulatory review activity)
      Listing Convention
      For Globex, monthly contracts shall be listed for two consecutive calendar months. ClearPort and NYMEX trading floor shall be listed for twenty four consecutive months.

       
       

      Trading Hours
      (All Times are New York Time/ET)
      Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. Chicago Time/CT)
      CME Globex and 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).

       
       
      Fee Schedule:
       

      Exchange Fees
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      $7.00
      $7.00
      $8.00
      $9.00
      Globex
      $7.00
      $7.00
      $8.00
      $9.00
      $8.00
      ClearPort
      $7.00
      $9.00
       
      Other Processing Fees
       
      Member
      Non-Member
       
      Cash Settlement
      $1.00
      $1.00
       
       
      Additional Fees and Surcharges
       
      EFS Surcharge
      $0.00
       
      Block Surcharge
      $0.00
       
      Facilitation Desk Fee
      $0.40
       

       
       
      Please refer questions on this subject to:
      Research and Product Development
      Paul Wightman            Paul.Wightman@cmegroup.com                        +44 20 3379 3134
       
      Products and Services
      Verena Peternell            Verena.peternell@cmegroup.com                       +44 20 3379 3723

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