NYMEX to launch three new gasoline and diesel futures contracts
The New York Mercantile Exchange, Inc will launch three new gasoline futures contracts that will begin trading on the NYMEX trading floor and the CME Globex electronic trading platform on 13 May for trade date 14 May.
The new contracts and their commodity codes will be: Gulf Coast gasoline (LR), Gulf Coast ultra low sulfur diesel (LU), and New York Harbor ultra low sulfur diesel (LH) futures.
The contracts will be 42,000 gallons in size, with a minimum price fluctuation of USD 0.0001 per gallon. The contracts will be listed for 36 consecutive months, beginning with the June 2007 contract.
Termination of trading for the Gulf Coast gasoline and Gulf Coast ultra low sulfur diesel futures contracts will be three business days prior to the 25th calendar day of the month prior to the delivery month. Termination for the New York Harbor ultra low sulfur diesel futures contract will be the last business day of the month prior to the delivery month.
Trading at settlement for the first three months will be available for trading on the trading floor and on CME Globex. The one-to-one crack spreads (LR:CL, LU:CL, and LH:CL) will be available on the trading floor only. Exchange of futures for physicals (EFP) and exchange of futures for swaps (EFS) will be available for execution on the trading floor and on NYMEX ClearPort.
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