• Listing of Two (2) Petroleum Oil Average Price Option Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6956
      • Notice Date
      • 12 December 2013
      • Effective Date
      • 12 January 2014
    • Effective Sunday, January 12, 2014 for trade date Monday, January 13, 2014, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list the following new option contracts for trading on CME Globex, the NYMEX trading floor, and for submission for clearing through CME ClearPort.
       

      Product Name
      Commodity Code
      NYMEX Rulebook
      Chapter Number
      Gasoline Euro-bob Oxy NWE Barges (Argus) Crack Spread Average Price Option
      GCE
      530
      RBOB Gasoline Brent Crack Spread Average Price Option
      RBC
      545

       
       
      Also concurrent with the launch of these contracts and pending all relevant CFTC regulatory review periods, the Exchange will permit block trading pursuant to Rule 526 (Block Trades) in these contracts at a block trade minimum threshold of ten (10) contracts.
       
      The contract specifications are provided below:
       
      Underlying Futures:
      GCE: Gasoline Euro-bob Oxy NWE Barges (Argus) Crack Spread Futures (Commodity  Code: 7K)
      RBC: RBOB Gasoline Brent Crack Spread Futures (Commodity Code: RBB)
       
      Exercise Type: European style; financially settled against underlying futures
       
      Contract Size:  1,000 barrels
       
      Termination of Trading: Last business day of the contract month
       
      Minimum Price Fluctuation: $0.001 per barrel
       
      Value Per Tick: $1.00
       
      Strike Price Listing: The strike price interval shall be $0.250 per barrel
       
      Listing Convention:
      CME Globex, CME ClearPort and Open Outcry: 36 consecutive months
       
      First Listed Month: February 2014
       
      Trading Hours: 
       
      CME Globex and CME ClearPort:    
      Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minutebreak each day beginning at 5:15 p.m. (4:15 p.m. CT)
       
      Open Outcry:                             
      Monday – Friday 9:00 a.m. to 2:30 p.m. (8:00 a.m. to 1:30 p.m. CT)
       
       
       Fee Schedule:
       

      Exchange Fees
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      $0.85
      $0.85
      $1.05
      $1.25
      Globex
      $0.85
      $0.85
      $1.05
      $1.25
      $1.05
      ClearPort
      $0.85
      $1.25
       
      Other Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      $0.10
      $0.10
       
      Facilitation Desk Fee
      $0.20
       

       
       
       
      For additional information, please contact:
       
      Research and Product Development
       

      Cameron Liao          KengHui.Liao@cmegroup.com                +65 6593 5588 

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