The crude oil swaps contracts will include swaps based in whole or in part on the ICE Brent futures contract: dated-to-frontline Brent swap futures; Brent calendar swap futures; Brent bullet swap futures; Brent-West Texas Intermediate (WTI) bullet swap futures; Brent-WTI calendar swap futures; WTI bullet swap futures; Brent-Dubai swap futures; Brent contract for differences; gasoil crack spread futures; Argus gasoline crack spread swap futures; Platts gasoline crack spread swap futures; and naphtha crack spread futures;
The gasoil-related contracts include: gasoil 0.2 (Rotterdam barges) vs. ICE gasoil swap futures; gasoil 0.2 (FOB Northwest Europe) vs. ICE gasoil swap futures; gasoil 0.2 (FOB Mediterranean) vs. ICE gasoil swap futures; gasoil 0.2 (CIF Mediterranean) vs. ICE gasoil swap futures; gasoil 10 PPM (Rotterdam barges) vs. ICE gasoil swap futures; ULSD 50 PPM (CIF Northwest Europe) vs. ICE gasoil swap futures; ULSD 50 PPM (CIF Mediterranean) vs. ICE gasoil swap futures; ULSD 50 PPM (FOB Mediterranean) vs. ICE gasoil swap futures; jet fuel (CIF Northwest Europe) vs. ICE gasoil swap futures; jet fuel (Rotterdam barges) vs. ICE gasoil swap futures; Singapore gasoil vs. ICE gasoil swap futures; and NYMEX Division heating oil futures vs. ICE gasoil spread swap futures.
Residual fuel-related contracts include the 3.5% fuel oil crack swap futures and 1% fuel oil crack swap futures.
Margins and specifications for these contracts will be made available soon.
Mark Lyons, head of derivatives trading of UK-based Projector Funds said, “The high volatility and oil price that is now a function of day-to-day oil transactions results in increasing working capital demands on both small and large companies. NYMEX ClearPort® is leading the way in enabling companies to protect forward risk and maximize returns on capital by providing an ever increasing list of cleared over-the-counter oil products. The clearing function mitigates counterparty risk and the requirement to support a large credit function at the same time as making the oil market more accessible to more counterparties. This can only be a good thing for the oil market”
Exchange President James E. Newsome said, “NYMEX has been working with European market participants to create a new slate of products to help them more effectively manage their risk. We continue to adapt our product offerings to best serve the needs of the marketplace.
###
Forward Looking and Cautionary Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to our future performance, operating results, strategy, and other future events. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, and similar words and terms, in connection with any discussion of future results. Forward-looking statements involve a number of assumptions, risks, and uncertainties, any of which may cause actual results to differ materially from the anticipated, estimated, or projected results referenced in forward-looking statements. In particular, the forward-looking statements of NYMEX Holdings, Inc., and its subsidiaries are subject to the following risks and uncertainties: the success and timing of new futures contracts and products; changes in political, economic, or industry conditions; the unfavorable resolution of material legal proceedings; the impact and timing of technological changes and the adequacy of intellectual property protection; the impact of legislative and regulatory actions, including without limitation, actions by the Commodity Futures Trading Commission; and terrorist activities and international hostilities, which may affect the general economy as well as oil and other commodity markets. We assume no obligation to update or supplement our forward-looking statements.
