New York Mercantile Exchange: Proposed Amendments to the Gulf Coast Unleaded Regular Gasoline Futures Contract Relating to the Delivery Procedures and Delivery Period

Zusammenfassung

The New York Mercantile Exchange (NYMEX or Exchange) has submitted proposed amendments to its Gulf Coast unleaded regular gasoline futures contract that, among other things, would: (1) Require that all futures deliveries regardless of size be made on the Colonial Pipeline system at an injection point from Pasadena, Texas to Moundville, Alabama; (2) eliminate the public terminal delivery alternative; (3) require the buyer receiving less than 25 contracts to reimburse the seller for any Colonial Pipeline shipping charges incurred for making such deliveries; and (4) for a particular delivery month restrict all futures deliveries to the third cycle of the Colonial Pipeline for that month, provided that deliveries of less than 25 contracts would be further restricted to the back-half of such third Colonial Pipeline cycle. In accordance with Section 5a(12) of the Commodity Exchange Act and acting pursuant to the authority delegated by Commission Regulation 140.96, the Acting Director of the Division of Economic Analysis (Division) of the Commodity Futures Trading Commission (Commission) has determined, on behalf of the Commission, that the proposed amendments are of major economic signif