SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 22-424

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): 11/14/22 Filing Description: Delisting of the Coal (API 4) FOB 

Richards Bay (Argus-McCloskey) Short Dated Option on Calendar Futures Strip

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:

Rule Numbers: 
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

November 14, 2022

VIA ELECTRONIC PORTAL

Mr. Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, DC 20581

Re: CFTC Regulation 40.6(a) Certification. Notification Regarding the Delisting of the 

Coal (API 4) FOB Richards Bay (Argus-McCloskey) Short Dated Option on Calendar 

Futures Strip.

NYMEX Submission No. 22-424

Dear Mr. Kirkpatrick:

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

Trading Commission (“CFTC” or “Commission”) the delisting of the Coal (API 4) FOB Richards Bay (ArgusMcCloskey) Short Dated Option on Calendar Futures Strip option contract (the “Contract”) as noted in the 

table below, effective immediately. There is no open interest in the Contract.

As a result of the delisting, information regarding the Contract has been deleted from the respective product 

rule chapters; all other references to the Contract and terms and conditions contained in the Position Limit, 

Position Accountability and Reportable Level Table located in the Interpretations and Special Notices 

Section of Chapter 5 (“Trading Qualifications and Practices”) of the NYMEX Rulebook were removed from 

the Exchange Rulebook and the CME Group website. 

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

the Commodity Exchange Act (“CEA” or “Act”) and identified that the delisting may have some bearing on 

the following Core Principles:

• Emergency Authority: There is no open interest in the Contract, and therefore there will be no 

market disruption related to their delisting.

• Availability of General Information: The Exchange will make publicly available the details of the 

delisting of the Contract by publishing a Special Executive Report (“SER”) to the marketplace. The 

SER will be available on CME Group’s website.

Contract Title Rulebook 

Chapter

Commodity 

Code

Coal (API 4) FOB Richards Bay (Argus-McCloskey) Short Dated 

Option on Calendar Futures Strip

1114 MFY
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

2

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

delisting the Contract complies 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

Attachments: Appendix A: Amendments to NYMEX Rulebook Chapters (blackline format) 

Appendix B: Position Limits, Position Accountability and Reportable Level Table in 

Chapter 5 of the NYMEX rulebook (attached under separate cover)
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Appendix A

NYMEX Rulebook

(deletions struck through)

Chapter 1114

Coal (API 4) FOB Richards Bay (Argus-McCloskey) Short Dated Option

on Calendar Futures Strip

1114100. SCOPE OF CHAPTER 

This chapter is limited in application to short dated put and call options on calendar year strips of Coal 

(API 4) fob Richards Bay (Argus-McCloskey) futures contracts. In addition to the rules of this chapter, 

transactions in short dated options on calendar year strips of Coal (API 4) fob Richards Bay (ArgusMcCloskey) futures shall be subject to the general rules of the Exchange insofar as applicable. 

1114101. OPTION CHARACTERISTICS 

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

1114101.A. Trading Schedule 

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

1114101.B. Trading Unit 

Coal (API 4) fob Richards Bay (Argus-McCloskey) Short Dated Option on Calendar Futures Strip is 

an option on the Coal (API 4) fob Richards Bay (Argus-McCloskey) futures contract. On expiration 

of a call option, the long position will be assigned twelve consecutive long futures months, beginning 

with the January contract for the calendar year following the option expiry month, of the Coal (API 4) 

fob Richards Bay (Argus-McCloskey) futures contract at the strike price. On exercise of a put option, 

the long position will be assigned twelve consecutive short futures months, beginning with the 

January contract for the calendar year following the option expiry month, of the Coal (API 4) fob 

Richards Bay (Argus-McCloskey) futures contract at the strike price.

1114101.C. Price Increments 

The minimum price fluctuation is $0.01 per metric ton ($120 per contract). Prices shall be quoted in 

US dollars and cents per metric ton. A cabinet trade may occur at a price of $0.001 per metric ton, or 

$12.00 per contract, however, if it results in the liquidation of positions for both parties to the trade. 

1114101.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. 

1114101.E. Termination of Trading 

The option Expiration Day shall be 30 calendar days prior to the first calendar day of the contract 

month. If such day is not a UK business day, the Expiration Day shall be the first preceding UK 

business day. Trading shall cease at 12:30 p.m. London time on the option’s Expiration Day. 

Notice of exercise must be delivered by a Clearing Member to the Clearing House not later than 2:30 

p.m. London time on the Expiration Day. The option shall be available for automatic exercise. The 
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in-the-money value of the option shall be based on a methodology to be published by the Exchange 

that reflects markets prices at the termination of trading of a contract.

1114101.F. Type Option 

The option is a European-style option which can only be exercised into the underlying futures on 

Expiration Day. 

1114102. EXERCISE PRICES 

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

1114103. DISCLAIMER

The Coal (API 4) fob Richards Bay (Argus-McCloskey) Short Dated Option on Calendar Futures Strip 

(the “Product”) is not sponsored, endorsed, sold or promoted by Argus Media Inc. (“Argus”) or IHS 

Global Ltd. (“IHS”). Argus and IHS make no representation or warranty, express or implied, to the 

owners of the Product or any member of the public regarding the advisability of trading in the Product. 

Argus’ and IHS’ only relationship to Chicago Mercantile Exchange Inc., CME Clearing Europe Ltd. 

and New York Mercantile Exchange, Inc. (together, “CME”) is the licensing of certain trademarks and 

trade names of Argus and IHS, and of the API 2 and API 4 indexes (which are determined, composed 

and calculated by Argus and IHS without regard to CME or the Product), and Argus and IHS have no 

obligation to take the needs of CME or the owners of the Product into consideration in determining, 

composing or calculating the API 2 and API 4 indexes. Argus and IHS are not responsible for and 

have not participated in the determination of the timing of, prices at, or quantities of the Product to be 

listed or in the determination or calculation of the equation by which the Product is to be converted 

into cash. Argus and IHS have no obligation or liability in connection with the administration, 

marketing or trading of the Product.

ARGUS, IHS AND CME DO NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS 

OF THE API 2 AND API 4 INDEXES OR ANY DATA RELATED THERETO AND NEITHER ARGUS, 

IHS, NOR CME SHALL HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR 

INTERRUPTIONS THEREIN. ARGUS, IHS AND CME MAKE NO WARRANTY, EXPRESS OR 

IMPLIED, AS TO RESULTS TO BE OBTAINED BY CME, OWNERS OF THE PRODUCT, OR ANY 

OTHER PERSON OR ENTITY FROM THE USE OF THE API 2 AND API 4 INDEXES OR ANY DATA 

RELATED THERETO. ARGUS, IHS, AND CME MAKE NO EXPRESS OR IMPLIED WARRANTIES, 

AND EXPRESSLY DISCLAIM ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A 

PARTICULAR PURPOSE OR USE WITH RESPECT TO THE API 2 AND API 4 INDEXES OR ANY 

DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT 

SHALL ARGUS, IHS, OR CME HAVE ANY LIABILITY FOR ANY DAMAGES WHATSOEVER, 

WHETHER DIRECT OR INDIRECT, INCLUDING WITHOUT LIMITATION, LOST PROFITS OR 

INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING LOST 

PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. THERE ARE NO 

THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN 

ARGUS, IHS, AND CME.

Without prejudice to any of the above provisions and in addition to them, each and every third party 

should and must note that, insofar as New York Mercantile Exchange, Inc. (“NYMEX”) may list any 

index for trading in or in connection or by reference therewith, none of:

a. NYMEX;

b. its directors or officers; or

c. any relevant party that NYMEX may contract with for the supply of the index or information in 

relation thereto;

(each of the foregoing, a “Relevant Party”) assume any obligation or liability in connection with the 

trading of any contract based on such index. Accordingly, no Relevant Party shall be in any way 

responsible for any losses, expenses or damages (in all cases direct or indirect) arising in connection 

with or referable to the trading of any contract linked or referable to the said index, provided that 

nothing herein shall affect either the obligations of NYMEX or its Members as Parties trading in any 

contract so linked or referable. None of the Relevant Parties guarantee or warrant or undertake in 

any manner the accuracy or completeness of any such index or any information or data included in 

or referable to it.
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NONE OF THE RELEVANT PARTIES MAKE ANY WARRANTY OR GIVES ANY GUARANTEE OR 

UNDERTAKING, EXPRESS OR IMPLIED, AS TO THE ACCURACY OR COMPLETENESS OF, OR 

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

INDEX, AND PROXY RELATED OR REFERABLE THERETO OR ANY INFORMATION OR DATA 

INCLUDED IN OR REFERABLE TO IT IN CONNECTION WITH ANY TRADING OR ANY 

CONTRACTS OR FOR ANY OTHER USE. NONE OF THE RELEVANT PARTIES MAKE ANY 

EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY 

PARTICULAR PURPOSE WITH RESPECT TO ANY SUCH INDEX, ANY RELATED OR 

REFERABLE THERETO OR ANY INFORMATION OR DATA INCLUDED IN OR REFERABLE TO 

ANY SUCH INDEX.
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Appendix B

NYMEX Rulebook

Chapter 5

(“Trading Qualifications and Practices”)

Position Limit, Position Accountability, and Reportable Level Table 

(deletions struck through)

(attached under separate cover)