New York Mercantile Exchange, Inc. today announced that it will introduce a cash-settled uranium futures contract on the CME Globex® and NYMEX ClearPort® electronic platforms, beginning on May 6 for trade date May 7.
The new contract will be U3O8 or "yellowcake," which refers to concentrated uranium oxide that is produced from uranium ore, and its contract code will be UX.
The contract will be listed for 36 consecutive months. It will be 250 pounds in size with a minimum price fluctuation of $0.05 per pound. The contract will be settled on the spot month-end U3O8 price published by Ux Consulting Company, LLC.
Fees for CME Globex will be $0.35 for member day trades, $0.60 for member overnight trades, and $1.45 for non-member trades. NYMEX ClearPort and cash settlement fees will be $2.50 for members and $4.00 for non-members.
FTSE Mondo Visione Exchanges Index:
NYMEX Announces Specifications For Uranium Futures Contract
Date 16/04/2007
