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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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NYMEX launching Rotterdam fuel oil contract

15 Apr 2011 07:46 GMT

Option contract to be traded via open outcry and CME ClearPort.



Effective Sunday, April 17, 2011, for trade date Monday, April 18, 2011, the New York Mercantile Exchange, Inc. (NYMEX) has announced that it will list a new option contract, European 1% Fuel Oil (Platts) Barges FOB Rdam Average Price Option, for open outcry trading and for clearing through CME ClearPort.

The option specifications are as follows:

• Contract Name: European 1% Fuel Oil (Platts) Barges FOB Rdam Average Price Option

• Commodity Code: EFB

• Rule Chapter: 782

• Option Type: Financially settled, Average Price – non-early exercisable option

• Underlying Futures: European 1% Fuel Oil (Platts) Barges FOB Rdam Calendar Swap Futures(UH)

• Contract Unit: 1,000 metric tonnes

• Expiration Date: Trading shall cease on the last business day of the underlying calendar month.

• Minimum Price Fluctuation: $0.01 per metric tonne

• Strike Price Intervals: $0.50 per metric tonne

• First Listed Month: April 2011

• Trading Month: 36 consecutive months

• Trading Hours: Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 p.m. – 1:30 p.m. Chicago Time/CT).

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-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).






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