Gasoline Blendstock Futures and Options Trading

Reformulated Gasoline Blendstock for Oxygen Blending (RBOB) Futures
Contract Specifications

Trading Unit

42,000 U.S. gallons (1,000 barrels).

Price Quotation

U.S. dollars and cents per gallon.

Trading Hours (All times are New York time)

Open outcry trading is conducted from 10:05 AM until 2:30 PM.

After hours futures trading is conducted via the NYMEX ACCESS® internet-based trading platform beginning at 3:15 PM on Mondays through Thursdays and concluding at 9:50 AM the following day. On Sundays, the session begins at 7:00 PM. There is an additional session, from 3:15 PM to 5:00 PM, on Fridays and the day preceding all major holidays. This session's trade date will be dated for the following business day.

Trading Months

12 consecutive months on a rolling basis, starting with the January 2006 contract month.

Minimum Price Fluctuation

$0.0001 (0.01¢) per gallon ($4.20 per contract).

Maximum Daily Price Fluctuation

$0.25 per gallon ($10,500 per contract) for all months. If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $0.25 per gallon in either direction. If another halt were triggered, the market would continue to be expanded by $0.25 per gallon in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session.

Last Trading Day

Trading terminates at the close of business on the last business day of the month preceding the delivery month.

Settlement Type

Physical.

Delivery

F.O.B. seller's facility in New York harbor ex-shore. All duties, entitlements, taxes, fees, and other charges paid. Requirements for seller's shore facility: capability to deliver into barges. Delivery may also be completed by pipeline, tanker, book transfer, or inter- or intra-facility transfer. Delivery must be made in accordance with applicable federal, state, and local licensing and tax laws. Delivery shall comply with all state laws related to oxygen content.

Delivery Period

Deliveries may only be initiated the day after the fifth business day and must be completed before the last business day of the delivery month.

Alternate Delivery Procedure (ADP)

An alternate delivery procedure is available to buyers and sellers who have been matched by the Exchange subsequent to the termination of trading in the spot month contract. If buyer and seller agree to consummate delivery under terms different from those prescribed in the contract specifications, they may proceed on that basis after submitting a notice of their intention to the Exchange.

Exchange of Futures for Physicals (EFP)

The commercial buyer or seller may exchange a futures position for a physical position of equal quantity by submitting a notice to the Exchange. EFPs may be used to either initiate or liquidate a futures position.

Grade and Quality Specifications

Generally conforms to industry standards for reformulated regular gasoline blendstock for oxygen blending (RBOB) with 10% denatured fuel ethanol (92% purity) as listed by the Colonial Pipeline for fungible F grade for sales in New York and New Jersey. RBOB is a wholesale non-oxygentated blendstock traded in the New York Harbor barge market that is ready for the addition of 10% ethanol at the truck rack.

Margin Requirements

Margins are required for open futures positions.

Trading Symbol

RB

Gasoline Blendstock Futures Options