SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 23-341

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): 08/07/23 Filing Description: Weekly Notification of 

Amendments Related to Product Terms and Conditions (Week of July 31, 2023)

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:

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: See filing.

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

1

Christopher Bowen 

Managing Director and Chief Regulatory Counsel

Legal Department

August 7, 2023

VIA ELECTRONIC PORTAL

Mr. Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

Re: CFTC Regulation 40.6(d) Notification. New York Mercantile Exchange, Inc. (“NYMEX” 

or “Exchange”) Weekly Notification of Amendments Related to Product Terms and 

Conditions.

NYMEX Submission No. 23-341

Dear Mr. Kirkpatrick:

Pursuant to Commodity Futures Trading Commission (“CFTC” or “Commission”) Regulation 40.6(d), the 

Exchange submits this weekly notification of the following amendments related to product terms and 

conditions made effective during the week of July 31, 2023.

Effective Sunday, July 30, 2023, for trade date Monday, July 31, 2023, the Exchange listed Crude Oil 

Monday and Wednesday Weekly Option contracts for trading on the CME Globex electronic platform and 

for submission for clearing via CME ClearPort. In order to provide a distinction between the new and existing 

weekly option contracts, also effective on July 30, 2023, for trade date Monday, July 31, 2023, the Exchange 

amended the contract titles of the existing Crude Oil Weekly Option contract to specify the currently listed 

Friday expiry. The marketplace was alerted of this change via Special Executive Report (“SER”) 9209, 

which is attached hereto as Exhibit A.

If you require any additional information, please contact the undersigned at (212) 299-2200 or via e-mail at 

CMEGSubmissionInquiry@cmegroup.com. 

Sincerely, 

/s/ Christopher Bowen

Managing Director and Chief Regulatory Counsel

Attachment: Exhibit A – SER 9209
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EXHIBIT A

Special Executive Report

DATE: June 27, 2023

SER#: 9209

SUBJECT: Initial Listing of Monday and Wednesday Weekly Options Contracts 

on Crude Oil and Clarification Amendments to the Existing Crude Oil 

Weekly Option Contract Title

Effective Sunday, July 30, 2023, for trade date Monday, July 31, 2023, and pending all relevant CFTC 

regulatory review periods, New York Mercantile Exchange, Inc. (“NYMEX” or “Exchange”) will list Crude Oil 

Monday and Wednesday Weekly Option contracts (the “Contracts”) for trading on the CME Globex 

electronic platform (“CME Globex”) and for submission for clearing via CME ClearPort as noted in the table 

below. The Exchange currently lists a Crude Oil Weekly Option contract with a Friday expiry and is 

expanding the offering by listing Monday and Wednesday expiries.

Contract Title Crude Oil Monday Weekly Option Crude Oil Wednesday Weekly Option

Commodity 

Code ML1, ML2, ML3, ML4, ML5 WL1, WL2, WL3, WL4, WL5

Rulebook 

Chapter 1011

Underlying 

Futures Contract / 

Commodity Code

Light Sweet Crude Oil Futures / CL

Contract Size 1,000 barrels

Price Quotation US dollars and cents per barrel

Minimum Price 

Fluctuation $0.01

Value per Tick $10.00 

Option Exercise 

Style American - exercises into the underlying futures

Listing Schedule Weekly contracts listed for 4 weeks

Strike Price 

Increments

Minimum 20 strikes at $0.25 per barrel increment above and below the at-the-money strike 

then 10 strikes at $0.50 per barrel increment on the nearest 0.50 interval above and below 

the highest and lowest $0.25 per barrel increment strikes, then 10 strikes at $2.50 per 

barrel increment on the nearest 2.50 interval above and below the highest and lowest $0.50 

per barrel increment strikes plus dynamic strikes at $0.25 per barrel increment.

Block Trade 

Minimum 

Threshold

10 contracts - subject to a 15-minute reporting window

Trading and 

Clearing Hours

CME Globex Pre-Open: Sunday 4:00 p.m. - 5:00 p.m. Central Time / CT 

Monday - Thursday 4:45 p.m. - 5:00 p.m. CT

CME Globex: Sunday - Friday 5:00 p.m. CT with a daily maintenance period from 

4:00 p.m. - 5:00 p.m. CT
3

CME ClearPort: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with no reporting 

Monday - Thursday from 4:00 p.m. - 5:00 p.m. CT

Exchange Fees:

In order to provide a distinction between the new and existing weekly option contracts, also effective on July 

30, 2023, for trade date Monday, July 31, 2023, the Exchange will amend the contract titles of the existing 

Crude Oil Weekly Option contract to specify the currently listed Friday expiry as detailed in the table below 

(the “Rule Amendments”).

Current Contract Title Proposed Contract Title Rulebook 

Chapter Commodity Code

Crude Oil Weekly 

Option Crude Oil Friday Weekly Option 1011 LO1, LO2, LO3, LO4, LO5

The Rule Amendments to NYMEX Rulebook Chapter 1011 are detailed in Exhibit A in blackline format.

Exhibit A

NYMEX Rulebook

(additions underscored; deletions struck through)

Chapter 1011

Crude Oil Weekly Option 

1011100. SCOPE OF CHAPTER

This chapter is limited in application to weekly put and call options on the Light Sweet Crude Oil Futures 

contract. In addition to the rules of this chapter, transactions in the Crude Oil Monday Weekly Option, the 

Crude Oil Wednesday Weekly Option, and the Crude Oil Friday Weekly Option contracts shall be subject 

to the general rules of the Exchange insofar as applicable.

1011101. OPTION CHARACTERISTICS

***

1011101.A. Trading Schedule 
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The hours of trading for this contract these contracts shall be determined by the Exchange.

1011101.E. Termination of Trading

Crude Oil Monday Weekly Option

Options will expire at the close of trading on a Monday schedule. If such Monday is an Exchange 

holiday, the weekly option shall terminate on the first Business Day immediately following the 

Monday.

Crude Oil Wednesday Weekly Option

Options will expire at the close of trading on a Wednesday schedule. If such Wednesday is an 

Exchange holiday, the weekly option shall terminate on the first Business Day immediately following 

the Wednesday.

Crude Oil Friday Weekly Option

Options will expire at the close of trading on a Friday schedule. For the first (1st) weekly option of the month, 

if the first If such Friday of the listing is an scheduled Exchange holiday, the Crude Oil Weekly Option shall 

terminate on the first Business Day immediately preceding the Friday. 

For the second (2nd) weekly option of the month, if the second Friday of the listing is a scheduled Exchange

holiday, the Crude Oil Weekly Option shall terminate on the first Business Day immediately preceding the 

Friday.

For the third (3rd) weekly option of the listing, if the third Friday of the listing is a scheduled Exchange

holiday, the Crude Oil Weekly Option shall terminate on the first Business Day immediately preceding the

Friday

For the fourth (4th) weekly option of the listing, if the fourth Friday of the listing is a scheduled Exchange

holiday, the Crude Oil Weekly Option shall terminate on the first Business Day immediately preceding the 

Friday

[Remainder of chapter is unchanged.]

Please send any risk specific feedback with regard to these products to NewProductMRM@cmegroup.com

Please refer questions on this subject to:

Business Line Management

Eric Yee eric.yee@cmegroup.com +1 312 872 5055

Research and Product Development

Amanda Townsley amanda.townsley@cmegroup.com +1 713 658 2345