CME Group, the world's largest and most diverse derivatives exchange, today announced that financially settled crude oil, Brent crude oil last day, and natural gas calendar spread options contracts will trade on the New York trading floor and ClearPort(R), scheduled to begin January 25 for trade date January 26.
The new calendar spread options contracts and their commodity codes will be: crude oil one-month spread (7A); crude oil two-month spread (7B); crude oil three-month spread (7C); crude oil six-month spread(7M); crude oil 12-month spread (7Z); Brent crude oil last day one-month spread (9N); Brent crude oil last day two-month spread (9B); Brent crude oil last day three-month spread (9Q); Brent crude oil last day six-month spread (9L); Brent crude oil last day 12-month spread (9Y); natural gas one-month spread (G8); natural gas two-month spread (G9); natural gas three-month spread (H9); natural gas five-month spread (H8); natural gas six-month spread (H7); and natural gas 12-month spread (H6).
The minimum price fluctuation will be $0.01 per barrel for crude oil and Brent crude oil calendar spread options contracts and $0.001 per MMBtu for the natural gas calendar spread options contracts. The crude oil and Brent crude oil contracts will be 1,000 barrels in size and the natural gas contracts will be 10,000 MMBtu.
The crude oil contract will expire on the business day immediately prior to the termination of the first underlying month of the spread; the Brent crude oil contract will expire on the business day immediately prior to the termination of the first underlying Brent crude oil last day futures month of the spread; and the natural gas contract will expire on the business day immediately prior to the termination of the first underlying month of the spread.
For more information, please visit www.nymex.com.