NGI The Weekly Gas Market Report / NGI All News Access

Nymex Sets Fee Schedule for Side-By-Side Trading

The New York Mercantile Exchange Inc. (Nymex) on Friday announced the proposed fee schedule for the initial slate of the energy futures contracts that will be offered for side-by-side trading on CME Globex, the electronic trading platform of the Chicago Mercantile Exchange, on June 11 for trade date June 12. The company noted that all listed fees are quoted on a per side basis.

The side-by-side trading agreement was first announced in April (see NGI, April 10). Fees for the natural gas (penultimate) and natural gas (last-day) financial futures contracts will be $1.60 for Nymex Division members, $2.10 for Comex Division members, and $2.60 for nonmembers. Fees for crude oil, heating oil, and RBOB gasoline (penultimate) financial futures contracts will be $0.75 for Nymex Division members, $1.25 for Comex Division members, and $1.50 for nonmembers.

Nymex said fees for the Nymex miNY natural gas futures contracts will be $0.40 for Nymex Division members, $0.53 for Comex Division members, and $0.65 for nonmembers. Fees for the Nymex miNY crude oil, heating oil, and RBOB gasoline futures contracts will be $0.55 for Nymex Division members, $0.80 for Comex Division members, and $1.50 for nonmembers.

In launching the new side-by-side trading strategy, Nymex also approved a daily volume incentive program for all market participants from June 12 through August 31. Regular trading fees apply for trading 1 to 2,500 of the crude oil (penultimate) financial futures contracts. Fees for trading 2,501 to 5,000 contracts will be $0.60 for Nymex Division members, $1.00 for Comex Division members, and $1.20 for nonmembers. Fees for trading 5,001 to 10,000 contracts will be $0.50 for Nymex Division members, $0.84 for Comex Division members, and $1.00 for nonmembers. Fees for trading more than 10,000 contracts will be $0.40 for Nymex Division members, $0.68 for Comex Division members, and $0.81 for nonmembers.

Regular trading fees apply for trading 1 to 500 heating oil or RBOB gasoline (penultimate) financial futures contracts. Fees for trading 501 to 1,000 contracts will be $0.60 for Nymex Division members, $1.00 for Comex Division members, and $1.20 for nonmembers. Fees for trading 1,001 to 2,500 contracts will be $0.50 for Nymex Division members, $0.84 for Comex Division members, and $1.00 for nonmembers. Fees for trading more than 2,500 contracts will be $0.40 for Nymex Division members, $0.68 for Comex Division members, and $0.81 for nonmembers.

Regular trading fees apply for trading 1 to 1,000 natural gas (penultimate) or natural gas (last-day) financial futures contracts. Fees for trading 1,001 to 2,500 contracts will be $1.28 for Nymex Division members, $1.68 for Comex Division members, and $2.08 for nonmembers. Fees for trading 2,501 to 5,000 contracts will be $1.07 for Nymex Division members, $1.41 for Comex Division members, and $1.75 for nonmembers. Fees for trading more than 5,000 contracts will be $0.86 for Nymex Division members, $1.13 for Comex Division members, and $1.40 for nonmembers.

©Copyright 2006 Intelligence Press Inc. All rights reserved. The preceding news report may not be republished or redistributed, in whole or in part, in any form, without prior written consent of Intelligence Press, Inc.