SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 23-427

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): 10/13/23 Filing Description: Amendments to Rule XXX.02 

(“Floating Price”) of Two (2) EIA Flat Tax Futures Contracts and Harmonization

Amendments to Three (3) EIA Flat Tax Futures and Option Contracts

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

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

October 13, 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(a) Certification. Amendments to Rule XXX.02 (“Floating 

Price”) of Two (2) EIA Flat Tax Futures Contracts and Harmonization Amendments 

to Three (3) EIA Flat Tax Futures and Option Contracts.

NYMEX Submission No. 23-427

Dear Mr. Kirkpatrick:

New York Mercantile Exchange, Inc. (“NYMEX” or “Exchange”) is certifying to the Commodity Futures 

Trading Commission (“CFTC” or “Commission”) amendments to the three (3) EIA Flat Tax futures and 

option noted in the table below (“the Contracts”) effective October 30, 2023.

Contract Title Rulebook 

Chapter

CME 

ClearPort

Code

CME 

Globex 

Code

EIA Flat Tax On-Highway Diesel Futures 301 A5 AA5

EIA Flat Tax U.S. Retail Gasoline Futures 313 JE JE

EIA Flat Tax On-Highway Diesel Average Price Option 311 DAP DAP

Specifically, the Exchange will:

1. amend Rule XXX.02 (“Floating Price”) of the EIA Flat Tax On-Highway Diesel Futures and the EIA 

Flat Tax U.S. Retail Gasoline Futures contracts to use an alternative price reporting agency in the 

calculation of the floating price in the event the U.S. Energy Information Administration (“EIA”) is 

unable to publish prices. These amendments are intended to codify the Exchange’s historical 

practice and advise market participants of the Exchange’s course of action within the rules; and 

2. implement harmonization amendments to the Contracts to reflect the Exchange’s most current 

format of product rulebook chapters (collectively, the “Rule Amendments”).

The Rule Amendments are administrative in nature and will not impact the economic value of the Contracts. 

Appendix A provides the Rule Amendments in blackline format.

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

the Commodity Exchange Act (“CEA” or “Act”) and identified that the Rule Amendments may have some 

bearing on the following Core Principles:
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

2

• Availability of General Information: NYMEX will issue a Special Executive Report (“SER”) to the

Marketplace regarding the Rule Amendments. The SER will also be posted on the CME Group 

website. 

• Daily Publication of Trading Information: NYMEX will continue to comply with this Core 

Principle by making public daily information on settlement prices, volume, open interest, and 

opening and closing ranges for the Contracts which will be published daily on the Exchange’s 

website.

• Compliance with Rules: The Exchange shall continue its normal practice to establish, monitor, 

and enforce compliance with the rules of the Contracts.

• Execution of Transactions: The Exchange will continue its current practice of providing a 

competitive, open, and efficient market mechanism for executing transactions in the Contracts

Pursuant to Section 5c(c) of the Act and CFTC Regulation 40.6(a), the Exchange hereby certifies that the 

Rule Amendments comply with the Act, including regulations under the Act. There were no substantive 

opposing views to the proposal.

The Exchange certifies that this submission has been concurrently posted on the CME Group website at 

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

Should you have any questions concerning the above, 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: Appendix A – NYMEX Rulebook Chapters (blackline format)
3

APPENDIX A

NYMEX Rulebook 

(additions underscored; deletions struck through)

Chapter 301

EIA Flat Tax On-Highway Diesel Futures

301.01 SCOPE

The provisions of these rules shall apply to all contracts bought or sold on the Exchange for cash 

settlement based on the Floating Price.

301.02 FLOATING PRICE

The Floating Price for each contract month is equal to the monthly arithmetic average of the weekly 

price published by the U.S. Department of Energy’s Energy Information Administration ("EIA") Retail 

On-Highway Diesel Prices under the heading "Weekly Retail On-Highway Diesel Prices - Average 

All Types" for the entire U.S. adjusted for the tax rates in effect as of March 1, 2009. For purposes of 

this contract, the counterparties agree that the following Market Disruption Event shall apply: Tax 

Event, provided that such Tax Event shall be defined as follows: the imposition of, change in, or 

removal of, an excise, severance, sales, use, value-added, environmental, emissions, transfer, 

stamp, documentary, recording or similar tax on, or measured by reference to, diesel (other than a 

tax on, or measured by reference to overall gross or net income) by or at the direction of the federal 

government (or any agency or organ thereof) after the Trade Date, if the direct effect of such 

imposition, change or removal is to raise (a "Tax Increase") or lower (a "Tax Decrease") the Floating 

Price from what it would have been without that imposition, change or removal. If the Tax Event has 

occurred and exists, the following Reset Price shall apply: the Floating Price, plus any Tax Decrease 

or less any Tax Increase, as applicable.

301.03 CONTRACT QUANTITY AND VALUE

The contract quantity shall be 42,000 gallons. Each contract shall be valued as the contract 

quantity (42,000) multiplied by the settlement price.

301.04 CONTRACT MONTHS

Trading shall be conducted in contracts in such months as shall be determined by the Exchange.

301.05 PRICES AND FLUCTUATIONS

Prices shall be quoted in U.S. dollars and cents per gallon. The minimum price fluctuation shall be 

$0.0001 per gallon. There shall be no maximum price fluctuation.

301.06 TERMINATION OF TRADING

Trading shall cease on the last business day of the contract month.

301.07 FINAL SETTLEMENT

Delivery under the contract shall be by cash settlement. Final settlement, following termination of 

trading for a contract month, will be based on the Floating Price. The final settlement price will be 

the Floating Price calculated for each contract month. 

301.08 RESERVED
4

301.09 DISCLAIMER

NEITHER NEW YORK MERCANTILE EXCHANGE, INC. ("NYMEX") AND ITS AFFILIATES NOR 

EIA GUARANTEES THE ACCURACY AND/OR COMPLETENESS OF THE ASSESSMENT OR 

ANY OF THE DATA INCLUDED THEREIN.

NYMEX AND ITS AFFILIATES AND EIA MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AS 

TO THE RESULTS TO BE OBTAINED BY ANY PERSON OR ENTITY FROM USE OF THE 

ASSESSMENT, TRADING BASED ON THE ASSESSMENT, OR ANY DATA INCLUDED THEREIN 

IN CONNECTION WITH THE TRADING OF THE CONTRACT, OR, FOR ANY OTHER USE. 

NYMEX AND ITS AFFILIATES AND EIA MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AND 

HEREBY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A 

PARTICULAR PURPOSE OR USE WITH RESPECT TO THE ASSESSMENT OR ANY DATA 

INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL 

NYMEX AND ITS AFFILIATES OR EIA HAVE ANY LIABILITY FOR ANY LOST PROFITS OR 

INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING LOST 

PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

301100. SCOPE OF CHAPTER

The provisions of these rules shall apply to all contracts bought or sold on the Exchange for cash

settlement based on the Floating Price. The procedures for trading, clearing and cash settlement of

this contract, and any other matters not specifically covered herein shall be governed by the general 

rules of the Exchange

301101. CONTRACT SPECIFICATIONS

The Floating Price for each contract month is equal to the monthly arithmetic average of the weekly 

price published by the U.S. Department of Energy’s Energy Information Administration ("EIA") Retail 

On-Highway Diesel Prices under the heading "Weekly Retail On-Highway Diesel Prices - Average 

All Types" for the entire U.S. adjusted for the tax rates in effect as of March 1, 2009. In the event 

that the EIA does not publish a constituent weekly number on its regularly-scheduled release 

dates, NYMEX will utilize a corresponding weekly price from an alternative price reporting 

service with similar methodology to the EIA. For purposes of this contract, the counterparties 

agree that the following Market Disruption Event shall apply: Tax Event, provided that such Tax Event 

shall be defined as follows: the imposition of, change in, or removal of, an excise, severance, sales, 

use, value-added, environmental, emissions, transfer, stamp, documentary, recording or similar tax 

on, or measured by reference to, diesel (other than a tax on, or measured by reference to overall 

gross or net income) by or at the direction of the federal government (or any agency or organ thereof) 

after the Trade Date, if the direct effect of such imposition, change or removal is to raise (a "Tax 

Increase") or lower (a "Tax Decrease") the Floating Price from what it would have been without that 

imposition, change or removal. If the Tax Event has occurred and exists, the following Reset Price 

shall apply: the Floating Price, plus any Tax Decrease or less any Tax Increase, as applicable.

301102. TRADING SPECIFICATIONS

The number of months open for trading at a given time shall be determined by the Exchange.

301102.A. Trading Schedule

The hours for trading for this contract shall be determined by the Exchange.

301102.B. Trading Unit

The contract quantity shall be 42,000 gallons. Each contract shall be valued as the contract

quantity (42,000) multiplied by the settlement price.

301102.C. Price Increments 
5

Prices shall be quoted in U.S. dollars and cents per gallon. The minimum price fluctuation shall be 

$0.0001 per gallon. 

301102.D. Position Limits, Exemptions, Position Accountability and Reportable Levels

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5. 

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion.

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits.

301102.E. Termination of Trading

Trading shall cease on the last business day of the contract month.

301103. FINAL SETTLEMENT

Final settlement under the contract shall be by cash settlement. The final settlement price will be the 

Floating Price calculated for each contract month.

301104. DISCLAIMER

NEITHER NEW YORK MERCANTILE EXCHANGE, INC. ("NYMEX") AND ITS AFFILIATES NOR 

EIA GUARANTEES THE ACCURACY AND/OR COMPLETENESS OF THE ASSESSMENT OR 

ANY OF THE DATA INCLUDED THEREIN. 

NYMEX AND ITS AFFILIATES AND EIA MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AS 

TO THE RESULTS TO BE OBTAINED BY ANY PERSON OR ENTITY FROM USE OF THE 

ASSESSMENT, TRADING BASED ON THE ASSESSMENT, OR ANY DATA INCLUDED THEREIN 

IN CONNECTION WITH THE TRADING OF THE CONTRACT, OR, FOR ANY OTHER USE. 

NYMEX AND ITS AFFILIATES AND EIA MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AND 

HEREBY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A 

PARTICULAR PURPOSE OR USE WITH RESPECT TO THE ASSESSMENT OR ANY DATA 

INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL 

NYMEX AND ITS AFFILIATES OR EIA HAVE ANY LIABILITY FOR ANY LOST PROFITS OR 

INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING LOST 

PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

Chapter 313

EIA Flat Tax U.S. Retail Gasoline Futures 

313.01 SCOPE 

The provisions of these rules shall apply to all contracts bought or sold on the Exchange for cash 

settlement based on the Floating Price. 

313.02 FLOATING PRICE 

The Floating Price for each contract month is equal to the monthly arithmetic average of the weekly 

price published by the U.S. Department of Energy’s Energy Information Administration ("EIA") for 

U.S. Regular Gasoline Prices under the heading "Weekly U.S. Retail Gasoline Prices, Regular 

Grade" for the entire U.S. adjusted for the tax rates in effect as of January 1, 2010. In the event that 

the EIA does not publish the constituent weekly numbers on their regularly scheduled release dates, 

the NYMEX will utilize the corresponding weekly price from an alternative price reporting service with 

similar methodology to the EIA. NYMEX will not utilize any back-dated pricing from the EIA to 

compute the floating price. For purposes of this contract, the counterparties agree that the following 

Market Disruption Event shall apply: Tax Event, provided that such Tax Event shall be defined as 

follows: the imposition of, change in, or removal of, an excise, severance, sales, use, value-added, 

environmental, emissions, transfer, stamp, documentary, recording or similar tax on, or measured by 

reference to, gasoline (other than a tax on, or measured by reference to overall gross or net income) 
6

by or at the direction of the federal government (or any agency or organ thereof) after the Trade Date, 

if the direct effect of such imposition, change or removal is to raise (a "Tax Increase") or lower (a 

"Tax Decrease") the Floating Price from what it would have been without that imposition, change or 

removal. If the Tax Event has occurred and exists, the following Reset Price shall apply: the Floating 

Price, plus any Tax Decrease or less any Tax Increase, as applicable.

313.03 CONTRACT QUANTITY AND VALUE

The contract quantity shall be 42,000 gallons. Each contract shall be valued as the contract quantity 

(42,000) multiplied by the settlement price.

313.04 CONTRACT MONTHS

Trading shall be conducted in contracts in such months as shall be determined by the Exchange.

313.05 PRICES AND FLUCTUATIONS

Prices shall be quoted in U.S. dollars and cents per gallon. The minimum price fluctuation shall be 

$0.0001 per gallon. There shall be no maximum price fluctuation.

313.06 TERMINATION OF TRADING

Trading shall cease on the last business day of the contract month.

313.07 FINAL SETTLEMENT

Delivery under the contract shall be by cash settlement. Final settlement, following termination of 

trading for a contract month, will be based on the Floating Price. The final settlement price will be the 

Floating Price calculated for each contract month.

313.08 EXCHANGE FOR RELATED POSITION TRANSACTIONS

Any exchange for related position (EFRP) transactions shall be governed by the provisions of 

Exchange Rule 538.

313.09 DISCLAIMER

NEITHER NEW YORK MERCANTILE EXCHANGE, INC. ("NYMEX") AND ITS AFFILIATES NOR 

EIA GUARANTEES THE ACCURACY AND/OR COMPLETENESS OF THE ASSESSMENT OR 

ANY OF THE DATA INCLUDED THEREIN. 

NYMEX AND ITS AFFILIATES AND EIA MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AS 

TO THE RESULTS TO BE OBTAINED BY ANY PERSON OR ENTITY FROM USE OF THE 

ASSESSMENT, TRADING BASED ON THE ASSESSMENT, OR ANY DATA INCLUDED THEREIN 

IN CONNECTION WITH THE TRADING OF THE CONTRACT, OR, FOR ANY OTHER USE. 

NYMEX AND ITS AFFILIATES AND EIA MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AND 

HEREBY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A 

PARTICULAR PURPOSE OR USE WITH RESPECT TO THE ASSESSMENT OR ANY DATA 

INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL 

NYMEX AND ITS AFFILIATES OR EIA HAVE ANY LIABILITY FOR ANY LOST PROFITS OR 

INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING LOST 

PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

313100. SCOPE OF CHAPTER

The provisions of these rules shall apply to all contracts bought or sold on the Exchange for cash 

settlement based on the Floating Price. The procedures for trading, clearing and cash settlement of 

this contract, and any other matters not specifically covered herein shall be governed by the general 

rules of the Exchange

313101. CONTRACT SPECIFICATIONS

The Floating Price for each contract month is equal to the monthly arithmetic average of the weekly 

price published by the U.S. Department of Energy’s Energy Information Administration ("EIA") for 

U.S. Regular Gasoline Prices under the heading "Weekly U.S. Retail Gasoline Prices, Regular 
7

Grade" for the entire U.S. adjusted for the tax rates in effect as of January 1, 2010. In the event that 

the EIA does not publish a constituent weekly number on its regularly-scheduled release 

dates, NYMEX will utilize a corresponding weekly price from an alternative price reporting 

service with similar methodology to the EIA. For purposes of this contract, the counterparties 

agree that the following Market Disruption Event shall apply: Tax Event, provided that such Tax Event 

shall be defined as follows: the imposition of, change in, or removal of, an excise, severance, sales, 

use, value-added, environmental, emissions, transfer, stamp, documentary, recording or similar tax 

on, or measured by reference to, gasoline (other than a tax on, or measured by reference to overall 

gross or net income) by or at the direction of the federal government (or any agency or organ thereof) 

after the Trade Date, if the direct effect of such imposition, change or removal is to raise (a "Tax 

Increase") or lower (a "Tax Decrease") the Floating Price from what it would have been without that 

imposition, change or removal. If the Tax Event has occurred and exists, the following Reset Price 

shall apply: the Floating Price, plus any Tax Decrease or less any Tax Increase, as applicable.

313102. TRADING SPECIFICATIONS

The number of months open for trading at a given time shall be determined by the Exchange.

313102.A. Trading Schedule

The hours for trading for this contract shall be determined by the Exchange.

313102.B. Trading Unit

The contract quantity shall be 42,000 gallons. Each contract shall be valued as the contract quantity 

(42,000) multiplied by the settlement price.

313102.C. Price Increments 

Prices shall be quoted in U.S. dollars and cents per gallon. The minimum price fluctuation shall be 

$0.0001 per gallon. 

313102.D. Position Limits, Exemptions, Position Accountability and Reportable Levels

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5. 

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion.

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits.

313102.E. Termination of Trading

Trading shall cease on the last business day of the contract month.

313103. FINAL SETTLEMENT

Final settlement under the contract shall be by cash settlement. The final settlement price will be the 

Floating Price calculated for each contract month.

313104. DISCLAIMER

NEITHER NEW YORK MERCANTILE EXCHANGE, INC. ("NYMEX") AND ITS AFFILIATES NOR 

EIA GUARANTEES THE ACCURACY AND/OR COMPLETENESS OF THE ASSESSMENT OR 

ANY OF THE DATA INCLUDED THEREIN. 

NYMEX AND ITS AFFILIATES AND EIA MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AS 

TO THE RESULTS TO BE OBTAINED BY ANY PERSON OR ENTITY FROM USE OF THE 

ASSESSMENT, TRADING BASED ON THE ASSESSMENT, OR ANY DATA INCLUDED THEREIN 

IN CONNECTION WITH THE TRADING OF THE CONTRACT, OR, FOR ANY OTHER USE. 

NYMEX AND ITS AFFILIATES AND EIA MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AND 

HEREBY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A 

PARTICULAR PURPOSE OR USE WITH RESPECT TO THE ASSESSMENT OR ANY DATA 

INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL 

NYMEX AND ITS AFFILIATES OR EIA HAVE ANY LIABILITY FOR ANY LOST PROFITS OR 
8

INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING LOST 

PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

Chapter 311

EIA Flat Tax On-Highway Diesel Average Price Option

311.01 EXPIRATION 

An EIA Flat Tax On-Highway Diesel Average Price Option contract shall expire on the last business day of 

the contract month.

311.02 TYPE OF OPTION

An EIA Flat Tax On-Highway Diesel Average Price Option contract is a financially settled European-style 

option. The option cannot be exercised prior to expiration.

311.03 TRADING UNIT

On expiration of a call option, the option will be financially settled by subtracting the strike price from the 

underlying settlement price of the EIA Flat Tax On-Highway Diesel Swap Futures contract times 42,000

gallons, or zero, whichever is greater. On expiration of a put option, the option will be financially settled by 

subtracting the underlying settlement price of the EIA Flat Tax On-Highway Diesel Swap Futures contract from 

the strike price times 42,000 gallons, or zero, whichever is greater.

311.04 HOURS OF TRADING

The hours of trading for this contract shall be determined by the Exchange. 

311.05 STRIKE PRICES

Transactions shall be conducted for option contracts as set forth in Rule 300.20.

 

311.06 TRADING MONTHS 

Trading shall be conducted in the months determined by the Exchange.

311.07 PRICES

 Prices shall be quoted in dollars and cents per gallon. The minimum price increment will be one- 

 hundredth cent ($0.0001) per gallon.

311.08 ABSENCE OF PRICE FLUCTUATION LIMITATIONS

 Trading in EIA Flat Tax On-Highway Diesel Average Price Option shall not be subject to price fluctuation 

 limitations.

311100. SCOPE OF CHAPTER

This chapter is limited in application to EIA Flat Tax On-Highway Diesel Average Price put and call 

options on the EIA Flat Tax On-Highway Diesel futures contract. In addition to the rules of this 

chapter, transactions in the EIA Flat Tax On-Highway Diesel Average Price Option contract shall be 

subject to the general rules of the Exchange insofar as applicable.
9

311101. OPTION CHARACTERISTICS 

The number of contracts open for trading at a given time shall be determined by the Exchange. 

311101.A. Trading Schedule 

The hours of trading for this contract shall be determined by the Exchange.

311101.B. Trading Unit 

On expiration of a call option, the option will be financially settled by subtracting the strike price from 

the underlying settlement price of the EIA Flat Tax On-Highway Diesel Futures contract multiplied by 

42,000 gallons, or zero, whichever is greater. On expiration of a put option, the option will be 

financially settled by subtracting the underlying settlement price of the EIA Flat Tax On-Highway 

Diesel Swap Futures contract from the strike price multiplied by 42,000 gallons, or zero, whichever 

is greater.

311101.C. Price Increments 

Prices shall be quoted in dollars and cents per gallon. The minimum price increment will be onehundredth cent ($0.0001) per gallon.

311101.D. Position Limits, Exemptions, Position Accountability and Reportable Levels

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5. 

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion. 

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits

311101.E. Termination of Trading

An EIA Flat Tax On-Highway Diesel Average Price Option contract shall expire on the last business 

day of the contract month. 

311101.F. Type Option 

The option is a financially-settled European-style Option contract which cannot be exercised prior to 

expiration.

311102. EXERCISE PRICES AND CHARACTERISTICS

Transactions shall be conducted for option contracts as set forth in Rule 300.20.

311103. DISCLAIMER

NEITHER NEW YORK MERCANTILE EXCHANGE, INC. ("NYMEX") AND ITS AFFILIATES NOR 

EIA GUARANTEES THE ACCURACY AND/OR COMPLETENESS OF THE ASSESSMENT OR 

ANY OF THE DATA INCLUDED THEREIN. 

NYMEX AND ITS AFFILIATES AND EIA MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AS 

TO THE RESULTS TO BE OBTAINED BY ANY PERSON OR ENTITY FROM USE OF THE 

ASSESSMENT, TRADING BASED ON THE ASSESSMENT, OR ANY DATA INCLUDED THEREIN 

IN CONNECTION WITH THE TRADING OF THE CONTRACT, OR, FOR ANY OTHER USE. 

NYMEX AND ITS AFFILIATES AND EIA MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AND 

HEREBY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A 

PARTICULAR PURPOSE OR USE WITH RESPECT TO THE ASSESSMENT OR ANY DATA 

INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL 

NYMEX AND ITS AFFILIATES OR EIA HAVE ANY LIABILITY FOR ANY LOST PROFITS OR 

INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING LOST 

PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.