SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested

Registered Entity Identifier Code (optional): 23-282

Organization: New York Mercantile Exchange, Inc. (“NYMEX”)

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): July 13, 2023 Filing Description: Implementation of the 

NYMEX WTI Crude Oil Monday and Wednesday Weekly Options Market Development 

Program

SPECIFY FILING TYPE 

Please note only ONE choice allowed per Submission.

Organization Rules and Rule Amendments

Certification § 40.6(a)

Approval § 40.5(a)

Notification § 40.6(d)

Advance Notice of SIDCO Rule Change § 40.10(a)

SIDCO Emergency Rule Change § 40.10(h)

Rule Numbers: Not Applicable

New Product Please note only ONE product per Submission.

Certification § 40.2(a) 

Certification Security Futures § 41.23(a)

Certification Swap Class § 40.2(d)

Approval § 40.3(a)

Approval Security Futures § 41.23(b)

Novel Derivative Product Notification § 40.12(a)

Swap Submission § 39.5

Official Product Name: 

Product Terms and Conditions (product related Rules and Rule Amendments)

Certification § 40.6(a) 

Certification Made Available to Trade Determination § 40.6(a)

Certification Security Futures § 41.24(a)

Delisting (No Open Interest) § 40.6(a) 

Approval § 40.5(a)

Approval Made Available to Trade Determination § 40.5(a)

Approval Security Futures § 41.24(c)

Approval Amendments to enumerated agricultural products § 40.4(a), § 40.5(a)

“Non-Material Agricultural Rule Change” § 40.4(b)(5)

Notification § 40.6(d)

Official Name(s) of Product(s) Affected: 

Rule Numbers: 
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com\

Christopher Bowen 

Managing Director and Chief Regulatory Counsel

Legal Department

July 13, 2023

VIA ELECTRONIC PORTAL

Christopher J. Kirkpatrick 

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

RE: Implementation of the NYMEX WTI Crude Oil Monday and Wednesday Weekly 

Options Market Development Program

NYMEX Submission No. 23-282

Dear Mr. Kirkpatrick:

New York Mercantile Exchange, Inc. (“NYMEX” or “Exchange”) hereby notifies the Commodity Futures Trading 

Commission (“CFTC” or “Commission”) of plans to implement the WTI Crude Oil Monday and Wednesday Weekly 

Options Market Development Program (“Program”). The proposed Program will become effective on August 1, 2023.

Exhibit 1 sets forth the terms of this Program.

The Exchange reviewed the designated contract market core principles (“Core Principles”) as set forth in the 

Commodity Exchange Act (“CEA” or “Act”). During the review, NYMEX staff identified the following Core Principles as 

potentially being impacted: Monitoring of Trading, Execution of Transactions, Protection of Market Participants, 

Compliance with Rules, Availability of General Information, and Recordkeeping. 

The Program will not impact the Exchange’s ability to perform its trade practice and market surveillance obligations 

under the CEA. The Exchange’s market regulation staff monitors trading in the Program’s products to prevent 

manipulative trading and market abuse. The products included in this Program is listed for trading in the open and 

competitive market. Additionally, the Exchange has implemented systems to track Program participants’ volume to 

ensure proper distribution of earned incentives. The incentives in the Program do not impact the Exchange’s order 

execution. Participants in the Program will be selected by NYMEX staff using criteria as further stated in Exhibit 1. 

Chapter 4 of the NYMEX rules includes prohibitions against fraudulent, non-competitive, unfair, or abusive practices. 

All participants must execute a contractual agreement with NYMEX in which each participant will expressly agree to 

comply with and be subject to, applicable regulations and NYMEX rules. The Program is subject to the Exchange’s 

record retention policies which comply with the CEA.

NYMEX certifies that the Program complies with the CEA and the regulations thereunder. There were no substantive 

opposing views to this Program.

The Exchange certifies that this submission has been concurrently posted on the Exchange’s website at 

http://www.cmegroup.com/market-regulation/rule-filings.html.

If you require any additional information regarding this submission, please e-mail 

CMEGSubmissionInquiry@cmegroup.com or contact Rachel Johnson at 312-466-4393 or via e-mail at 

Rachel.Johnson@cmegroup.com. Please reference our NYMEX Submission No. 23-282 in any related 

correspondence.

Sincerely,

/s/ Christopher Bowen

Managing Director and Chief Regulatory Counsel

Attachment: Exhibit 1
EXHIBIT 1

NYMEX WTI Crude Oil Monday and Wednesday Weekly Options 

Market Development Program

Program Purpose 

The purpose of this Program is to incentivize market participants to support the launch and development 

of the products listed below. The resulting increase in liquidity on the CME Globex Platform (“Globex”)

benefits all participant segments of the market.

Product Scope

Crude Oil Monday Weekly Options (“ML1” – “ML5”) and Crude Oil Wednesday Weekly Options (“WL1” –

“WL5”) that are traded on Globex (“Products”).

Eligible Participants

There is no limit to the number of participants in the Program. Participants may be members or nonmembers.

Program Term

Start date is August 1, 2023. End date is November 30, 2023.

Hours

RTH, ETH, and ATH.

Incentives

Upon meeting all requirements, as determined by the Exchange, participants will receive predetermined 

incentives.

Monitoring and Termination of Status

The Exchange shall monitor trading activity and participants’ performance and shall retain the right to 

revoke participant status if it concludes from review that a participant has failed to meet the requirements

of the Program.