The new contracts and their commodity codes are: banked nitrogen oxide emissions futures (RO); one-year forward nitrogen oxide emissions allowance futures (RP); two-year forward nitrogen oxide emissions allowance futures (RQ); and three-year forward nitrogen oxide emissions allowance futures (RR).
The contracts will be 10 tons of nitrogen oxide ozone season emissions allowances for delivery made by transfer through NATS. Contracts are listed through the current calendar year. A new year of months will be listed upon termination of the December 2005 contract.
As part of the Exchange's liquidity provider program on NYMEX ClearPort®, any trader who makes a bid or offer that is subsequently accepted will receive $5.00 per contract and the participant on the other side of the trade will pay an all–inclusive fee of $10.00 per contract.
Fees for a transaction submitted solely for clearing on NYMEX ClearPort® will be $7.50 per side for non-members and $6.50 per contract per side for members.
Margins for all months of the new contracts will be $2,000 for clearing members, $2,200 for members, and $2,700 for customers.
Intra-commodity spread margin rates for all months of the new contracts will be $300 for clearing members, $330 for members, and $405 for customers.
The position accountability levels for the contracts will be 2,500 contracts for any single month or all months, with the exception of a 200-contract level for the last three days of the expiring contract. Clearing members must identify customers with a position of 25 contracts or more to the Exchange.
