• Reduction in the Minimum Price Fluctuation for Two (2) Natural Gas Futures Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6847RRR
      • Notice Date
      • 15 October 2013
      • Effective Date
      • 20 October 2013
    • This SER supersedes SER #6847RR dated October 9, 2013, to reflect the amended contract language in the affected rulebook chapters.
       
      Effective Sunday, October 20, 2013 for trade date Monday, October 21, 2013, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will reduce the minimum price fluctuation for two (2) natural gas futures contracts from $0.001 per million British thermal units (MMBtu) to $0.0001 per MMBtu. These contracts are offered for trading on CME Globex and the NYMEX trading floor, and for submission for clearing through CME ClearPort.
       
      The contract titles, commodity codes, and rule chapters of the affected products are provided below.
       
       
      Contract Name
      Code
      Rule Chapter
      Henry Hub Natural Gas Penultimate Financial Futures
      NP
      529
      Henry Hub Natural Gas Look-Alike Penultimate Financial Futures
      HP
      824
       
      The Commodity Futures Trading Commission (CFTC) will be notified of the reduction of the minimum price fluctuation limits during the week of October 28, via the weekly notification procedures set forth in Part 40 of the CFTC Regulations.
      The amendments to the rules relating to the reduction in minimum price fluctuation limit for the above-listed contracts are provided in black-line format below (underline reflects addition; strikethrough reflects deletion).
       
      Chapter 529
      Henry Hub Natural Gas Penultimate Financial Futures
      529.05 PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MMBtu. The minimum price fluctuation shall be $0.001$0.0001 per MMBtu. The maximum price fluctuation shall be consistent with the prevailing price limits of the Henry Hub Natural Gas futures contract.


       
      Chapter 824
      Henry Hub Natural Gas Look-Alike Penultimate Financial Futures
      824.05. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MMBtu. The minimum price fluctuation shall be $0.001$0.0001 per MMBtu. The maximum price fluctuation shall be consistent with the prevailing price limits of the Henry Hub Natural Gas futures contract.
       
      Please refer questions on this subject to:
      Research and Product Development
      Greg Price                                Gregory.Price@cmegroup.com                          (212) 299-2625
       
      Products and Services
      Todd Schlaht                            Todd.Schlaht@cmegroup.com                           (403) 444-5568

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2024 CME Group Inc. All rights reserved.