|NYMEX launching Rotterdam fuel oil contract|
|Option contract to be traded via open outcry and CME ClearPort.
|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).