NYMEX launching Rotterdam fuel oil contract

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



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Updated on 15 Apr 2011 07:46 GMT

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).