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NYMEX原油期货合约

2014-04-29 13:16   来源:818期货学习网



NYMEX原油期货合约  
    交易单位:   期货:1000 美式桶(42000加仑)
  期权:1张NYMEX(纽约商业交易所)的原油合约。
    交易时间:   期货和期权:上午9:45~下午3:10,为场内公开竞价时间。
  场外交易通过NYMEX ACCESSSM的电子交易系统进行。周一到周四下午4点开始交易,次日上午8点结束。周日电子交易下午7点开始。上述时间为纽约时间。
    交易月份:   期货:30个连续月加上远期期货距交割月36,48,60,72和84个月的合约。
这些日期只包括场内公开竞价的时间。
  期权:12个连续月,加上18,24,36个月以半年6或12月为结算周期的远期期权
    报价方式:   期货和期权:美元+美分/桶。
    最小价格变动单位:   期货期权:$0.01/桶($10/合约)
    每日最大价格波动:   期货:最早的2个合约月为$15/桶($15000/合约)。如果按后续合约前一日结算价$3.00作为最大价格波动,则此后续合约之前的合约的最大价格波动由$3.00升到$6.00。
  期权:不设波动限制。
    最后交易日:   期货:交易终止于交割月正常交易第25日之前的第3天,如果当月第25个正常交易日是非工作日,则以工作日顺延。
  期权:期货最后交易日之前3日。
    交割:   以FOB卖方的设备,在俄克拉荷马州,以罐装、管道或其他内容设备进行。
    交割期:   所有交割必须在交割月交割期内完成。
    可选择交割程序(ADP):   可选择交割程序适用于以在交易所达成协议并最终履行现货月合约的买方、卖方。如果买卖双方同意以不同于合约上描述的条件交割,他们可在此基础上,向交易所申请他们的意图的交易条件。
    自然的期货交易(EFP):   商业性买卖双方可以通过向交易所提出申请的方式将他们的期货头寸改成相等的自然头寸。EFP 可用于初始头寸和清算头寸。
    可交割商品等级:   特定的国内原油硫磺重量低于0.42%,不超过37API或低于42API 的重量。下列国内原油渠道是可交割的:西德克萨斯中介,低香混合油,新墨西哥香型原油,北德克萨斯香型原油,俄克拉荷马香型原油,南德克萨斯香型原油。
  特定的外国原油不超过37API或42API的重量。下列外国原油渠道是可交割的:英国的布伦特和挪威的奥斯博格,卖方应该获得最后结算价每桶30美分的折扣。尼日利亚和哥伦比亚交割时应有15美分的贴水。
    品质检查:   质检按输油管实际状况进行。买方或卖方可以指定一名质检员检查交割油的质量。提出质检要求的一方承担质检费用并提示对方将进行检查。
    头寸限制:   所有月份合约总和最多为15000张,现货月最后3天最多持有1000张合约,持任何单月合约最多不超过7500张。
    保证金要求:   持买(卖)开期货和短期期权头寸需交纳保证金。期权交易者的保证金不能超过贴水。
    交易代码:   期货:CL
  期权:LO
 
 
 
 

Light, Sweet Crude Oil Futures

 
Trading Unit
1,000 U.S. barrels (42,000 gallons).
Price Quotation
U.S. dollars and cents per barrel.
Trading Hours (All times are New York time)
Open outcry trading is conducted from 10:00 AM until 2:30 PM.
Electronic trading is conducted from 6:00 PM until 5:15 PM via the CME Globex trading platform, Sunday through Friday. There is a 45-minute break each day between 5:15PM (current trade date) and 6:00 PM (next trade date).
Trading Months
The current year and the next five years. A new calendar year will be added following the termination of trading in the December contract of the current year.
Additionally, trading can be executed at an average differential to the previous day's settlement prices for periods of two to 30 consecutive months in a single transaction. These calendar strips are executed during open outcry trading hours.
Trading at Settlement (TAS)
Trading at settlement is available for the front two months except on the last trading day and is subject to the existing TAS rules. Trading in all TAS products will cease daily at 2:30 PM Eastern Time. The TAS products will trade off of a "Base Price" of 100 to create a differential (plus or minus) in points off settlement in the underlying cleared product on a 1 to 1 basis. A trade done at the Base Price of 100 will correspond to a "traditional" TAS trade which will clear exactly at the final settlement price of the day.
Minimum Price Fluctuation
$0.01 (1¢) per barrel ($10.00 per contract).
Maximum Daily Price Fluctuation
$10.00 per barrel ($10,000 per contract) for all months. If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $10.00 per barrel in either direction. If another halt were triggered, the market would continue to be expanded by $10.00 per barrel in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session.
Last Trading Day
Trading terminates at the close of business on the third business day prior to the 25th calendar day of the month preceding the delivery month. If the 25th calendar day of the month is a non-business day, trading shall cease on the third business day prior to the business day preceding the 25th calendar day.
Settlement Type
Physical.
Delivery
F.O.B. seller's facility, Cushing, Oklahoma, at any pipeline or storage facility with pipeline access to TEPPCO, Cushing storage, or Equilon Pipeline Co., by in-tank transfer, in-line transfer, book-out, or inter-facility transfer (pumpover).
Complete delivery rules and provisions are detailed in Chapter 200 of the Exchange Rulebook.
Delivery Period
All deliveries are ratable over the course of the month and must be initiated on or after the first calendar day and completed by the last calendar day of the delivery month.
Alternate Delivery Procedure (ADP)
An alternate delivery procedure is available to buyers and sellers who have been matched by the Exchange subsequent to the termination of trading in the spot month contract. If buyer and seller agree to consummate delivery under terms different from those prescribed in the contract specifications, they may proceed on that basis after submitting a notice of their intention to the Exchange.
Exchange of Futures for Physicals (EFP)
The commercial buyer or seller may exchange a futures position for a physical position of equal quantity by submitting a notice to the Exchange. EFPs may be used to either initiate or liquidate a futures position
Deliverable Grades
Specific domestic crudes with 0.42% sulfur by weight or less, not less than 37° API gravity nor more than 42° API gravity. The following domestic crude streams are deliverable: West Texas Intermediate, Low Sweet Mix, New Mexican Sweet, North Texas Sweet, Oklahoma Sweet, South Texas Sweet.
Specific foreign crudes of not less than 34° API nor more than 42° API. The following foreign streams are deliverable: U.K. Brent and Forties, for which the seller shall receive a 30 cent per barrel discount below the final settlement price; Norwegian Oseberg Blend is delivered at a 55¢–per–barrel discount; Nigerian Bonny Light, Qua Iboe, and Colombian Cusiana are delivered at 15¢ premiums.
Inspection
Inspection shall be conducted in accordance with pipeline practices. A buyer or seller may appoint an inspector to inspect the quality of oil delivered. However, the buyer or seller who requests the inspection will bear its costs and will notify the other party of the transaction that the inspection will occur.
Position Accountability Levels and Limits
Any one month/all months: 20,000 net futures, but not to exceed 2,000 contracts in the last three days of trading in the spot month.
Margin Requirements
Margins are required for open futures positions.
Trading Symbol
CL
CLT (TAS Code)

期货手续费一览表【与交易所同步更新】
期货保证金一览表【与交易所同步更新】
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