Wed 14 Apr 2010, 18:04 GMT

New fuel oil futures contracts announced


Four new fuel oil contracts to be launched later this month.



Effective Sunday, April 25, 2010 for trade date Monday, April 26, 2010, the New York Mercantile Exchange, Inc. (NYMEX) will list the following new petroleum futures contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes.

Contracts:

European 3.5% Fuel Oil (Platts) Cargoes FOB MED BALMO Swap Futures

Singapore Fuel Oil 180 cst (Platts) Crack Spread Swap Futures

European 1% Fuel Oil Cargoes FOB MED (Platts) Swap Futures

European 1% Fuel Oil Cargoes FOB MED vs. European 1% Fuel Oil Cargoes FOB NWE Spread (Platts) Swap Futures

The contracts are listed with NYMEX, and subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.

Valid Contract Months:

The first listed month for each of the new petroleum futures will be the May 2010 contract month.

Termination of Trading:

Trading shall cease on the last business day of the contract month for all new petroleum futures contracts.

Trading and Clearing Hours:

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).

Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT).


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