DataWatch - April 2015

Price Reporting Agencies, Assessments, and Increased

Asian Oil Consumption

New products and data sources

Delisting of products and data sources

Potential impacton data

Changes to data attributes, replacement of products

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APRIL 2015

Summary

April 2015 2

Summ

aryContents

Editorial 5Crude Oil Transportation by Rail: More than the Industry Bargained For? 5

Power 8 FERC Approves Final Rule to Improve Gas-Electric Coordination 8EEX Publishes Data Enriched for Planned Power Production 9Platts to Discontinue German and Czech Far Month Electricity Assessments 10Argus Discontinues US Electricity Weekend Assessments 10Deutsche Brse and Romanian SIBEX Sign MOU for Power Futures Exchange 11

Petroleum 12 EIA Introduces Monthly Data on Crude Oil Rail Movements 12Platts to Launch Gasoline FOB Mediterranean Crack Swap Assessments 12Platts to Launch New Gulf Coast Petcoke Supramax Dry Bulk Assessments 13Platts to Add East/West Naphtha Assessments 13Platts to Launch Differential for Bakken Assessment vs. WTI CMA 13Platts to Publish Basrah Heavy Crude OSP 14Platts Adds New Daily High-Quality Coke FOB China Assessment 14Platts Launches New Palm Oil/Gasoil Spread 15Argus Adds Fuel Oil M-100 Assessments 15Argus Launches New Basrah Heavy Crude Assessments 16Argus Introduces West Africa Oil Publication 17Argus Launches Numerous Daily Jet Fuel Assessments 18Argus Adds Petroleum Rail Assessments 20NYMEX Expands Listing Schedule for Two Low Sulfur Gasoil Futures Contracts 21CME Launches Singapore Fuel Oil Brent Crack Spread Futures 22Platts to Discontinue Weekly US Chemical Grade Propylene Spot Assessments 23Platts to Stop Zarzaitine Crude Oil Assessments 23Platts to Discontinue US DOP Assessment 24Platts to Discontinue Current Palm Oil/Gasoil Spread 24Platts Ends US Atlantic Coast Distillate CIF Cargo Assessments 24Platts Ends No. 2 Gasoil NYH Cargos at London MOC 25Platts Discontinues Acetone T1, MIBK Assessments 25Platts Ends USGC CIF Naphtha Cargo Assessments 26Platts Discontinues Q1, Q2 Benzene Assessments 26Platts Discontinues Some Clean Tanker Assessments 26Argus Stops Multiple Russian Fuel Oil Assessments 28Argus Removes US Xylenes Assessment 29Argus Removes Multiple US Petroleum Assessments 30

Summary

April 2015 3

Summ

aryNYMEX Delists Tanker Freight Futures 31NYMEX Delists Two Crude Oil Volatility Index Futures and Option Contracts 32Oil Price Information Service Acquires NAVX 32Argus Renames Petroleum Rail Assessments 32NYMEX to Amend LOOP Gulf Coast Sour Crude Futures Contract 33NGX Revises Crude Index Prices and Index Price Details Reports 34

Natural Gas 35 Platts to Launch New European Gas Midpoints 35Argus Introduces New European Natural Gas Assessments 36ICE Endex Expands Dutch TTF Spot Market to Germany 37ICE Endex Transitions UKs On-the-day Commodity Market to the ICE Trading Platform 37

Coal 38 Argus Adjusts Asian LNG Assessments 38Platts and Fenwei Launch CCI Met China Coal Assessments 39Platts Discontinues 9500HR and 11000HR Coal Assessments 40

Softs and Metals 41SOFTS 41EEX to Introduce Agricultural Index Futures 41NYMEX Lists Renewable Identification Number Futures Contracts 42AgriCharts Launches Online Platform for Physical Grain Trading 43Platts to Launch Weekly South Korea Aluminum Premium Assessments 44Platts to Publish New Hot-Rolled Coil Steel Assessments 44

METALS 44Platts to Publish Iron Ore Phosphorus Differential 45Platts Publishes Daily Settlement Value for India Gold Bullion 45Argus to Introduce New European Terbium, Dysprosium, and Erbium Assessments 46ICAP Energy Introduces Iron Ore Derivatives Contract 46Platts to Discontinue Daily Tokyo Kerb Aluminum Assessments 47Platts Discontinues New York Dealer Osmium Assessment 48COMEX Delists Two Gold Volatility Index Futures and Option Contracts 48

Finance 49CBOE Debuts Options on the MSCI Emerging Markets and MSCI EAFE Indexes 49ICE Futures Introduces MSCI ACWI ex Australia Index Future Contract 50Thomson Reuters Introduces Price Challenge Tool for Fixed Income Market 50Thomson Reuters Launches Market Tracker Solution at the Central Bank of Nigeria and FMDQ 51Three New X-Trackers ETFs Tradable on Xetra Provide Access to International Developed Markets and Japanese Stock Corporations 51

Summary

4April 2015

Summ

arySPDR Multi-Asset ETF Launched on Xetra Provides Access to Global Infrastructures Sector 53Amundi ETF S&P 500 Buyback UCITS ETF Launched on Xetra Offers Access to Stock Corporations with Buyback Programs 53iShares MSCI China A UCITS ETF Launched on Xetra Offers Access to Chinese A-Shares 54UBS Bond Index ETF Launched on Xetra Offers Access to US Corporate Bonds with Currency Hedging 54iShares ETF Launched on Xetra Offers Access to Japanese Stock Corporations with Currency Hedging 55ICAP and BATS Chi-X Introduce New Service to Provide Exchange for Physicals Trading and Clearing 55ICAP ISS and i-Swap Launch i-Swap History Euro Swap Tick Data Product 56

Weather 57Weather Underground Launches Universal Weather App 57NYMEX Delists Three Emissions Products 58

Other 59EPA Releases New Website Tracking Compliance Status of Public Water Systems 59Dow Jones Features Sanctions Data 59

News from Data Vendors 60ZEMA Adds Power, Oil, Natural Gas, Emissions, Wind, and Water Data Sources in April 60ZE Expands Reach in Energy Trading Risk Management through Partnership with Ignite 61PEGAS to Launch Physical Futures Contracts for PSV Market Area 62PEGAS Successfully Launches ZEE Gas Spot and Futures New PEGAS Spot Index on ZTP 62PEGAS Reports New Record Volumes in March 2015 on the Spot and the Derivatives Market 63APX Group and EPEX SPOT Integrate to Foster Creation of Pan-European Power Market 64French Secretary of State for European Affairs Harlem Dsir visits European Power Exchange 66

Monthly Market Analysis 67Crude Oil Brent vs. WTI: Prompt-Month Contract (NYMEX) 67Henry Hub Natural Gas Forward Curve (NYMEX) 68Actual Weather (AccuWeather) 69Electricity: Day-Ahead Prices (ICE) 70

In Depth 71Price Reporting Agencies, Assessments, and Increased Asian Oil Consumption 71

Editorial

April 2015 5

An announcement by the US Energy Information Administration (EIA) about the new set of oil statistics missed the spotlight. Really, whats so special about adding another data report that only expands on the list of transportation options for the same commodity? Weve had data on barges, tankers, and pipelines; now we also have information on railroads added to the modes of transporting oil within the United States and across the Canadian border. There seems to be nothing special about this, and the reason is that there has been a consistent growth in the oil moved via train tracks over the last several years. However, there are some submerged boulders here that are worth being dug out.

The first datasets provided by EIA to the public communicate a straightforward message: more oil travels by rail now. Over the last four years, the volume of crude moved via railroads increased seven-fold for deliveries inside the country, and five-fold of those arriving from Canada.

Crude Oil Transportation by Rail: More than the Industry Bargained For?

By Olga Gorstenko, Editor-In-Chief, [email protected]

Editorial

Figure 1: Crude Oil by Rail (Data Source: EIA)

According to Statistics Canada, Canadian oil recoveries sustained an increase in the load from oil similar to the US counterparties.

6Editorial

April 2015

Figure 2: Oil by Rail (Data Source: Statistics Canada)

The explanation for such growth is less simple:

1. Shale oil production continues boosting deliveries, which, despite consistently dropping market prices, have sustained at high levels.

2. With environmentalists focused strictly on blocking oil pipelines from being built and expanded within North America, the industry turns to alternative transportation solutions.

Pipelines have been operating at their highest capacity as is. Any increase in production makes it challenging for producers to decide on the midstream mode. Railroads have become one of the options that absorb incremental supply increases. According to EIA, Bakken oilfield production has increased by more than 1 million barrels per day since 2010, with 70% of it being transported by rail. Rails actually have several benefits over pipelines. The rate at which train loading terminals can be built (6-12 months) is much faster than pipeline construction. There is also more flexibility in contract terms. As well, oil moves faster on rails, even though it is in smaller volumes. Rail routes also offer more variety in destination points.

Railroads now allow for oil to move from the Midwest to the East and West Coasts. Rail is also considered a viable solution for landlocked Canadian oil. Oil movement in these regions is restricted by pipeline capacity; proposed expansion solutions like the Keystone XL, Energy East, and Trans Mountain pipelines have been delayed by public and political opposition.

Now things get more complicated. An increased utilization of rail transportation means an increased rate of accidents. Multiple derailments of oil-loaded trains throughout Canada and the United States exposed the unpreparedness of the system to meet this demand. Aside from many localized incidents, the major ones gained global coverage recently:

The July 2013 derailment in the heart of the Quebec town of Lac Megantic that burned down more than 30 buildings and killed 47 people.

The April 30, 2014, derailed train that that caught fire in Lynchburg, VA, forcing an evacuation of the community.

The derailment of 29 tank cars in Ontario, Canada, on February 14, 2015, which started a fire that took several days to extinguish.

Editorial

April 2015

The derailment in West Virginia on February 16, 2015, which endangered lives by creating a fireball as well as spilling oil into the local river thereby polluting the drinking water supply for a nearby community.

The growing number of railroad oil accidents is exacerbated by the complexity of emergency response. The majority of these accidents can be divided into two groups, according to the origin of the crude: North Dakota and Alberta. Each one of these sources has different properties requiring a different emergency response approach. North Dakota oil is light and highly volatile, turning into flames easily. Alberta crude is a heavy bitumen, which sinks when spilled into water, needing recovery techniques different from light crude (which floats on the water surface).

Meanwhile, the public is set almost deaf to these railroad accidents while remaining fixated on news about pipeline approvals and protests in front of the White House. It almost seems like the railroad industry is using this break trying to patch regulatory ruptures. In the last month, a lineup of these fixes emerged on both sides of the border.

The Canadian government proposed tough new standards for oil rail tank cars that would phase out the existing, highly criticized tank cars by 2025.

The US National Transportation Safety Board on April 3, 2015, issued a set of urgent recommendations for replacing oil train cars more quickly than federal regulators require.

On April 24, 2015, Washington state passed the oil-by-rail safety legislation that requires advanced notice to the Department of Ecology and emergency services before oil shipments.

On April 27, 2015, the North Dakota Legislature approved funding for a state-run rail safety pilot program intended to supplement federal oversight of oil train traffic.

Also on April 27, the Federal Railroad Administration issued a rule restricting trains carrying substances to not exceed 40 miles per hour when travelling through high-threat urban communities.

Governments and railroads seem to be quite committed to ensuring that oil transportation by rail passes the mark. Whether oil industry lobbyists have anything to do with this or not is not of such a high importance. What is impressive is that, no matter what, oil keeps moving to the intended destinations in continuously increasing volumes. And as long as oil leads the energy resources pack, there will be new data reports, which reflect innovative industry solutions to glitches in political circles. i

7

Editor-In-Chief

Email: [email protected] Gorstenko

ZEMA Inquiries Bruce Colquhoun. P: 604-790-3299. E: [email protected]

Advertising & Vendor RelationshipsBruce Colquhoun. P: 604-790-3299. E: [email protected]

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Editorial

Power

April 2015 8

FERC Approves Final Rule to Improve Gas-Electric CoordinationAs of April 16, 2015, The Federal Energy Regulatory Commission (FERC) took further steps to improve coordination of wholesale natural gas and electricity market scheduling as the nation increasingly relies on gas for electric generation. This Final Rule represents the culmination of more than three years of Commission efforts to evaluate whether changes are needed to the scheduling practices of the natural gas and electric industry in order to better ensure the reliable and efficient operations of our interstate natural gas pipelines and electricity systems.

The Final Rule adopts revisions to the interstate natural gas nomination timeline and standards:

1. To move the Timely Nomination Cycle deadline for scheduling gas transportation from 11:30 a.m. Central Clock Time (CCT) to 1 p.m. CCT.

2. To add a third intraday nomination cycle during the gas operating day to help shippers adjust their scheduling to reflect changes in demand.

The Final Rule declines to adopt the proposal to move the 9 a.m. CCT start of the gas day to 4 a.m. CCT. The Commission concluded that, while certain efficiencies could be achieved through a better alignment of the natural gas and electric operating days, it does not justify changing the start time for the nationwide natural gas day.

The Final Rule takes effect 75 days after publication in the Federal Register.See the original announcement.

Power

9April 2015

EEX Publishes Data Enriched for Planned Power ProductionAs of April 15, 2015, the European Energy Exchange (EEX) published data regarding the planned power production for units smaller than 100 MW. This has resulted in an extension of the available data, which was previously restricted to power production units larger than or equal to 100 MW. The additional data will be integrated gradually within the existing data.See the original announcement.

ZEMA collects a range of European power market data, including over 40 records from the EEX. These records include futures price and trading data. To learn more, visit http://www.ze.com/the-zema-solutions/.

The ZEMA graph below displays the April 2015 Planned Day-Ahead Power Generation for both Austria and Germany (EEX Data). Germany is shown as having much higher planned day-ahead power generation, with Austrias power generation plans appearing as just a fraction of Germanys output; however, a relatively high positive correlation exists between Austrias and Germanys planned day-ahead power generation, hovering around the 0.678 mark. To learn more, book a complimentary ZEMA demonstration.

Power

Graph created with ZEMA

10April 2015

Platts to Discontinue German and Czech Far Month Electricity AssessmentsEffective August 1, 2015, Platts intends to discontinue some of its forward electricity assessments in German and Czech markets.

In German electricity, Platts is proposing the following far month discontinuations:

German month-ahead+3 baseload and peakload (AAFPD00 and AAFPI00) German month-ahead+4 baseload and peakload (AAFPE00 and AAFPJ00) German month-ahead+5 baseload and peakload (AAFPF00 and AAFPK00)

In the Czech electricity market, Platts is proposing to discontinue the following peakload assessments:

Czech week-ahead peakload (CZPTW00) Czech month-ahead peakload (CZPTM10) Czech quarter-ahead peakload (CZPTQ10) Czech year-ahead peakload (CZPTCY1) Czech year-ahead+1 peakload (CZPTCY2)

Platts is also seeking feedback on a proposal to assess Czech baseload electricity at a differential to the German market for week-ahead and the forward curve. Day-ahead contracts would continue to be assessed on an outright basis.

The assessments are published on European Power Alert pages 58 (German power) and 210 (Czech power), in Platts Market Data categories EE and PE and in European Power Daily.See the original announcement.

Argus Discontinues US Electricity Weekend AssessmentsEffective May 1, 2015, Argus stops weekend assessments in the Argus US Electricity data feed. For FTP subscribers, these changes apply to the dause files in the DAUSE folder of ftp.argusmedia.com.

The assessments include off-peak and peak weekends for:

Power

11April 2015

Power

Deutsche Brse and Romanian SIBEX Sign MOU for Power Futures ExchangeEffective April 23, 2015, Deutsche Brse Market Data + Services and the Sibiu Stock Exchange S.A. (SIBEX), Romania, signed a Memorandum of Understanding (MOU). Under the MOU Deutsche Brse will provide trading technology to SIBEX to facilitate its plans to operate an exchange for trading electricity futures. This will include electronic systems and networks for trading, clearing and settlement of commodity products.

SIBEX is an authorized market and system operator in Romania operating a regulated derivatives market. The Romanian exchange plans to operate a regulated market for electricity derivatives using M7, Deutsche Brses leading trading system for commodity markets and part of Deutsche Brses 7 Market Technology global IT architecture.See the original announcement.

Power ERCOT Houston Power ERCOT North Power ERCOT South Power ERCOT West Power Into Entergy Power Into Southern Power NE Pool Power New York Zone G Power Northern Illinois Power PJM AD Power PJM West Spark Spread peak Entergy Gas Spark Spread peak N Illinois Gas Spark Spread peak New England Gas

Spark spread Entergy Coal Spark spread Ercot Coal Spark spread N Illinois Coal Spark spread New England Coal Spark spread New England Coal Spark spread New York G Coal Spark spread PJM AD Coal Spark spread PJM West Coal Spark spread off-peak PJM West Coal Power Indiana Hub Spark Spread peak Indiana Gas Spark spread Indiana Coal Power SPP North Power Ontario

See the original announcement.

Petroleum

April 2015 12

EIA Introduces Monthly Data on Crude Oil Rail MovementsEffective March 30, 2015, The US Energy Information Administration (EIA) began providing monthly data on rail movements of crude oil. The new data on crude-by-rail (CBR) movements are fully integrated with EIAs existing monthly petroleum supply statistics, which already include crude oil movements by pipeline, tanker, and barge.

EIA is initiating the new series with monthly data from January 2010 through the current reporting month, January 2015. CBR activity is tracked between pairs of Petroleum Administration for Defense District (PADD) regions (inter-PADD), within each region (intra-PADD), and across the US-Canada border.

Like all of EIAs monthly petroleum data, the new CBR data are subject to revision as new information becomes available. Near-month CBR data are modeled estimates that will be updated upon receipt of quarterly information from the STB. EIA and the Association of American Railroads (AAR) are currently exploring opportunities for EIA to utilize monthly AAR carload data to refine the near-month CBR data. See the original announcement.

ZEMA collects hundreds of data reports from the EIA, many of which are on petroleum and other liquids. To find out more about how ZEMA can collect data from any source, visit http://www.ze.com/the-zema-solutions/data/.

Platts to Launch Gasoline FOB Mediterranean Crack Swap AssessmentsAs of June 1, 2015, Platts intends to launch assessments for Mediterranean Premium Unleaded Gasoline FOB Cargo Brent Crack Swaps at 16:30 London time. Platts will add these assessments to enhance its coverage of the gasoline paper market. Platts initially proposed these assessments in a note published on March 12, 2015.

The new assessments will reflect the balance month, front month and second month swaps values in US dollars per barrel with a conversion rate of 8.33.

Platts expects to publish these new assessments on PFC Europe, with a page and market database symbols to be announced in due course. See the original announcement.

ZEMA, ZEs data management solution, collects over 300 Platts records on petroleum and other liquids. To learn more about ZEMAs vast data library, visit http://www.ze.com/the-zema-solutions/data-coverage/.

Petroleum

13April 2015

Platts to Launch New Gulf Coast Petcoke Supramax Dry Bulk AssessmentsEffective June 1, 2015, Platts intends to launch two new dry bulk Supramax freight assessments, reflecting established trade routes of petcoke from the US Gulf Coast.

These new assessments would reflect strong market interest in these routes and will be based on modern Supramax dry bulk tonnage.

Both assessments would be published on a dollar per metric ton basis. The following two routes are under consideration for assessment:

Size Cargo type Origin Destination

50,000 mt Petcoke Houston Krishnapatnam, East Coast India

50,000 mt Petcoke Houston Qingdao, North ChinaSee the original announcement.

Platts to Add East/West Naphtha AssessmentsEffective June 1, 2015, Platts will publish assessments of the East/West naphtha swap spreads at 16:30 London time. The East/West naphtha swap spread will represent the difference between the comparable months Mean of Platts Japan naphtha and the naphtha Northwest Europe CIF cargo swaps. Platts initially proposed these assessments in a note published on March 12, 2015.

Platts will add these assessments to its existing naphtha derivative suite in order to enhance its coverage of the naphtha market and better represent the key arbitrage route between Europe and Asia.

The new price assessments will cover three calendar months forward from the date of publication. Platts will publish bids, offers, and interest to trade the East/West naphtha spread in the Platts Market on Close assessment process.

Platts will publish these assessments in US dollars per metric ton. Platts expects to publish these new assessments on PFC Europe, with page number and market database symbols to be announced in due course.See the original announcement.

ZEMA collects Platts petroleum data from all over the world, including 26 regular Platts reports from Europe. To learn more about ZEMAs extensive data reach, book a complimentary demo at http://www.ze.com/book-a-demo/.

Platts to Launch Differential for Bakken Assessment vs. WTI CMAOn May 15, 2015, Platts will publish a price differential vs. WTI CMA to its assessment for Bakken crude assessed near the wellhead in the Williston Basin. The new assessment reflects

Petroleum

14April 2015

the way Bakken crude trades in the market, where more than 95% of trades occur against the calendar-month average of NYMEX light sweet crude (WTI CMA) during the month of delivery.

Platts will continue to publish the existing Bakken flat price assessment. The crudes assessment methodology and specifications will not change. The new assessment appears on Platts Global Alert page 214 and 260, while the monthly average appears on Platts Global Alert page 215 and commentary for the market appears on Platts Global Alert page 295.

The assessment and commentary also appear in the Crude Oil Marketwire, North American Crude and Products Scan, and Oilgram Price Report.See the original announcement.

Platts to Publish Basrah Heavy Crude OSPOn April 23, 2015, Platts announced that it intends to publish the official selling price for the new Basrah Heavy crude grade marketed by Iraqs State Oil Marketing Organization.

SOMO said in March it would issue the OSP starting with May loadings. The new grade, with an API gravity of 25-26 degrees, has an OSP for loadings to Asia, Europe, and the United States.

The new OSP is a differential to the average of Oman and Dubai published by Platts for the month of loading for Asian loadings, a differential to Dated Brent for Europe, and a differential to the Argus Sour Crude Index for US loadings.

The assessment will be published on Platts Global Alert page 1059 and in the Platts assessment database.See the original announcement.

With ZEMA, you can access over 300 Platts reports on petroleum and other liquids, more than 100 on crude products specifically. To find out ZEMA lets you visualize this data and use it to create powerful analytics, visit http://www.ze.com/the-zema-solutions/analytics.

Platts Adds New Daily High-Quality Coke FOB China AssessmentAs of late April 2015, Platts launched a new daily metallurgical coke assessment for higher-quality material with 66/65% coke strength after reaction (CSR), on a FOB China basis.

The new series complements Platts existing daily 62% CSR Met Coke FOB China assessment. The launch comes in response to market demand for such an assessment, amid growing prevalence of higher-CSR coke in the seaborne market.

The assessment will be published in SBB Steel Markets Daily, Coal Trader International, Metals Market Data category MC, Platts Metals Alert, and Global Coal Alert.See the original announcement.

Petroleum

15April 2015

Platts Launches New Palm Oil/Gasoil SpreadOn April 24, 2015, Platts announced that it intends to launch a new palm oil/ gasoil spread.

The spread reflects the value of the first-month crude palm oil futures contract on the Bursa Malaysia (BMD) minus the value of the front-month InterContinental Exchange (ICE) gasoil futures at 4:30 p.m. Singapore time (0830 GMT).

The assessment under the code POVGO00 was launched to reflect market practice of measuring the spread of palm oil against gasoil, and is published in the Platts Biofuelscan, and under the code POVGO00 in the Platts database.

The assessment is expressed in US dollars per metric ton. The current GO-PO spread, which reflects the value of first-month gasoil futures against first-month crude palm oil futures will be discontinued from May 15, 2015.

GO-PO measures the spread as gasoil minus Palm oil, while in the general market the spread is typically expressed as Palm oil minus gasoil.See the original announcement.

ZEMA is used by the front-, mid-, and back-office professionals in the petroleum market. To learn how ZEMA can be tailored to your specific needs and give you access to the right information, book a complimentary ZEMA demo at http://www.ze.com/book-a-demo.

Argus Adds Fuel Oil M-100 AssessmentsEffective April 30, 2015, Argus added daily fuel oil M-100 delivered to ports price indexes in RUB/t. The following series will appear in DARM data module in /DARM folder of ftp.argusmedia.com:

PA-code Time stamp

Continuous forward

Description Category

PA0016288 26 0 Fuel oil M-100 N.Novgorod del St Petersburg

>Products>Fuel oil> Russia-Caspian

PA0016289 26 0 Fuel oil M-100 Salavat del St Petersburg


PA0016290 26 0 Fuel oil M-100 Volgograd del St Petersburg


Petroleum

16April 2015

PA-code Time stamp

Continuous forward


PA0016291 26 0 Fuel oil M-100 Perm del St Petersburg


PA0016292 26 0 Fuel oil M-100 Samara del Arkhangelsk


PA0016293 26 0 Fuel oil M-100 Yaroslavl del Arkhangelsk


PA0016294 26 0 Fuel oil M-100 Perm del Arkhangelsk


PA0016295 26 0 Fuel oil M-100 Ryazan del Arkhangelsk


PA0016296 26 0 Fuel oil M-100 Perm del Murmansk


PA0016297 26 0 Fuel oil M-100 Yaroslavl del Murmansk


PA0016298 26 0 Fuel oil M-100 Samara del Murmansk


PA0016299 26 0 Fuel oil M-100 Omsk del Novorossiysk


PA0016300 26 0 Fuel oil M-100 Ufa del Vladivostok >Products>Fuel oil> Russia-Caspian


Argus Launches New Basrah Heavy Crude AssessmentsEffective April 24, 2015, Argus added the following new daily codes in USD/bl to the DLC data module in the DCRDEEU folder of the ftp.argusmedia.com server.

PA-code Time stamp

Price type

Continuous forward

Description Differential basis

Category

PA0016325 0 3 0 Basrah Heavy Asia-Pacific formula

avg Oman/Dubai

>Crude>Official/Formula Price>Mideast Gulf formula

PA0016326 0 3 0 Basrah Heavy Europe formula

North Sea Dated

>Crude>Official/Formula Price>Mideast Gulf formula

PA0016327 0 3 0 Basrah Heavy US formula

ASCI >Crude>Official/Formula Price>Mideast Gulf formula


ZEMA collects over 100 Argus reports regularly, more than 40 of which pertain to petroleum products. To find out how ZEMA can convert this data into sophisticated analyses, visit http://www.ze.com/the-zema-solutions/analytics/.

Petroleum

17April 2015

Argus Introduces West Africa Oil PublicationOn April 13, 2015, Argus introduced the Argus West Africa Oil publication. Argus data subscribers using FTP may now have access to the new module DWAFO in the \DWAFO folder on the ftp.argusmedia.com server.

The publication includes numerous daily assessments, differential with North Sea Dated and North Sea Forward:

Petroleum

Qua Iboe

Girassol

North Sea Dated

Abo Blend

Akpo

Antan Blend

Djeno

EA Blend

Ebok

Ima

Jubilee

Kole Marine

Mondo

NKossa

Obe

Okono Blend

Okoro

Okwori

Okwuiborne

Oyo

Palanca

Pazflor

Pennington Light

Plutonio

Rabi Light

Saturno

Saxi-Batuque

Ukpokiti

Usan

Yoho Light

Gasoline Eurobob delivered west Africa $/t

Gasoline Eurobob delivered west Africa NGN/litre

Gasoil diesel 10ppm delivered west Africa $/t

Gasoil diesel 10ppm delivered west Africa $/t

Gasoil diesel 10ppm delivered west Africa NGN/litre

Gasoil heating oil 50ppm delivered west Africa $/t

Gasoil heating oil 50ppm delivered west Africa NGN/litre


18April 2015

PetroleumArgus Launches Numerous Daily Jet Fuel AssessmentsEffective April 13, 2015, Argus made changes to the Argus Jet Fuel data module. These changes apply to the djetfuel .csv file in the DJETFUEL folder of ftp.argusmedia.com.

Applicable changes will also be reflected Argus US Products data module, Argus Russian Motor Fuels data module, Argus Asia Products data module, Argus US West Coast Products data module, and Argus European Products data module.Midpoints and differential midpoints have been distributed for the following codes:

PA-codeTime stamp

Price type

Continuous forward

DescriptionDifferential basis

Unit Category

PA0001010 2 3, 8 0Jet fuel NYH barge fob prompt

Nymex Heating Oil

USC/USG

>Products >Jet>US east coast

PA0001011 2 3, 8 0Jet fuel NYH barge fob 10 days fwd

Nymex Heating Oil

USC/USG



Nymex Heating Oil

USC/USG


PA0001016 8 8 0Jet/kerosine Japan c+f

- USD/bl>Products>Jet> Asia-Pacific

PA0001017 8 3, 8 0Jet/kerosine Mideast Gulf fob

Mopag USD/bl>Products >Jet>Mideast Gulf

PA0001018 6 3, 8 0Jet/kerosine NWE cif

Ice Gasoil Settlement

USD/t>Products >Jet>Northwest Europe

PA0001019 8 3, 8 0Jet/kerosine Singapore

Mops USD/bl>Products>Jet >Asia-Pacific

PA0001021 6 8 0Jet/kerosine W Med fob

- USD/t>Products>Jet >Mediterranean

PA0001024 2 3, 8 1Jet fuel LA pipe fob month

Nymex Heating Oil

USC/USG

>Products >Jet>US west coast

PA0001025 6 3, 8 0Jet/kerosine NWE barge



19April 2015

PetroleumPA-code

Time stamp

Price type

Continuous forward


Unit Category

PA0001026 6 8 0Jet/kerosine NWE fob

- USD/t>Products >Jet>Northwest Europe

PA0001027 2 3, 8 1Jet fuel SF pipe fob month

Nymex Heating Oil

USC/USG

>Products >Jet>US west coast


Nymex Heating Oil

USC/USG


PA0002760 2 3, 8 1, 2, 3, 4Jet fuel Colonial 54 pipe fob cycle

Nymex Heating Oil

USC/USG

>Products >Jet>US Colonial pipeline

PA0002773 6 3 1, 2, 3Jet/kerosine swap NWE month



PA0002774 8 8 1, 2, 3Jet/kerosine swap Singa-pore month

- USD/bl>Products>Jet >Asia-Pacific

PA0002775 8 8 1, 2, 3Jet/kerosine swap Singa-pore quarter

- USD/bl>Products>Jet >Asia-Pacific

PA0002780 6 3 1, 2Jet/kerosine swap NWE quarter



PA0002901 2 3, 8 1Jet fuel Chi-cago pipe fob cycle

Nymex Heating Oil

USC/USG

>Products >Jet>US Group 3

PA0003945 2 3, 8 0Jet fuel USGC waterborne fob

Nymex Heating Oil

USC/USG

>Products >Jet>US Gulf coast

PA0003948 2 3, 8 0Jet fuel Group 3 Magellan Q pipe fob

Nymex Heating Oil

USC/USG

>Products >Jet>US Group 3

PA0003951 2 3, 8 0Jet fuel Buck-eye pipe fob

Nymex Heating Oil

USC/USG


PA0003953 2 3, 8 0Jet fuel Laurel pipe fob

Nymex Heating Oil

USC/USG


20April 2015

PetroleumPA-code

Time stamp

Price type

Continuous forward


Unit Category

PA0005171 2 3, 8 0Jet fuel NYH cargo del

Nymex Heating Oil

USC/USG


PA0005336 8 3, 8 0Jet/kerosine S Korea

Mops USD/bl>Products> Jet>Asia-Pacific

PA0009048 26 8 0Jet/Kerosine fit Moscow spot incl. VAT

- RUB/t>Products >Jet>Russia- Caspian

PA0009049 26 8 0Jet/Kerosine fit Moscow spot ex. VAT

- USD/t>Products >Jet>Russia- Caspian

PA0009545 6 3, 8 0Jet/kerosine W Med cif


USD/t>Products> Jet> Mediterranean

PA0009549 6 3 0

Jet/kerosine W Med cif diff to Jet fob W Med

Jet fob W Med

USD/t>Products >Jet> Mediterranean

PA0014711 2 3, 8 1

Jet fuel NYH offline Colonial 54 pipe del cycle

Nymex Heating Oil

USC/USG



ZEMA collects numerous jet fuel data reports from all over the world. To learn more about ZEMAs extensive data coverage, visit http://www.ze.com/the-zema-solutions/data.

Argus Adds Petroleum Rail AssessmentsEffective April 1, 2015, Argus is made changes to Argus Petroleum Transportation North America. These new monthly assessments in USD/month will appear in the dptr files in the DPTR folder of ftp.argusmedia.com:

PA-codeTime stamp

Price type

Continuous forward


PA0016248 2 8 1Rail tank car >5yr lease rate non-pressurized DOT-111 full-serve month

>Freight>Rail>Lease rate

PA0016249 2 8 1Rail tank car >5yr lease rate non-pressurized DOT-111 railcar only month


21April 2015

PetroleumPA-code

Time stamp

Price type

Continuous forward


PA0016250 2 8 1Rail tank car 1-5yr lease rate non-pressurized DOT-111 full-serve month


PA0016251 2 8 1Rail tank car 1-5yr lease rate non-pressurized DOT-111 railcar only month


PA0016252 2 8 1Rail tank car Freight>Rail>Lease rate

PA0016253 2 8 1Rail tank car Freight>Rail>Lease rate

PA0016254 2 8 1Rail manifest rate crude Cheyenne - Stockton CA month

>Freight>Rail>Dirty

PA0016255 2 8 1Rail unit rate crude Cheyenne - Stockton CA month

>Freight>Rail>Dirty


ZEMA collects dozens of data reports on freight movements. To find out how ZEMA can increase your companys market intelligence, book a complimentary demo at http://www.ze.com/book-a-demo/.

NYMEX Expands Listing Schedule for Two Low Sulfur Gasoil Futures ContractsEffective May 4, 2015, the New York Mercantile Exchange (NYMEX) expanded the listing schedule for the ULSD 10ppm Cargoes CIF NWE (Platts) vs. Low Sulfur Gasoil and the Mini ULSD 10ppm Cargos CIF NWE (Platts) vs. Low Sulfur Gasoil Futures contracts for trading on CME Globex and the NYMEX trading floor and for submission for clearing through CME ClearPort. The product title, symbol, rule chapters, current listing schedule, and amended listing schedule are set forth below.

Contract TitleNYMEX Rulebook Chapter

Current Listing Schedule

Proposed Listing Schedule

CME ClearPort and NYMEX Trading Floor code

CME Globex code

Mini ULSD 10ppm Cargoes CIF NWE (Platts) vs. Low Sulphur Gasoil Futures

234The current year plus the next calendar year

The current year plus the next two calendar years

MGN MGN

ULSD 10ppm Cargoes CIF NWE (Platts) vs. Low Sulphur Gasoil Futures

539The current year plus the next calendar year

The current year plus the next two calendar years

TP ATP


22April 2015


PetroleumThe ZEMA graph below shows the Gulf Coast Oil Sulfur Futures vs. NY Ultra Low Sulfur Diesel prices(published by NYMEX) for the last four months. The difference in price between the two commodities is represented by the graph below, which can be easily applied as one of Market Analyzers many visualization options, and graphs can be viewed instantly as the analytics are built. To learn more,book a complimentary ZEMA demonstration.

CME Launches Singapore Fuel Oil Brent Crack Spread FuturesEffective April 13, 2015, CME Group introduced new Singapore Fuel Oil 180 cst (Platts) Brent Crack Spread Futures (1000 MT) and Singapore Fuel Oil 380 cst (Platts) Brent Crack Spread (1000mt) Futures contracts. Product names and codes are detailed below:

NameClearing/ Floor Code

Globex Code SPAN CodeSPAN Combined Commodity Code

Singapore Fuel Oil 180cst (Platts) Brent Crack Spread (1000mt) Futures

SF1 SF1 SF1 NY- SF1

Singapore Fuel Oil 380cst (Platts) Brent Crack Spread (1000mt) Futures

SF3 SF3 SF3 NY- SF3


Using ZEMAs advanced data collection and analytic capabilities, market participants can easily keep track of the new data that will be generated by the Chicago Mercantile Exchange. To learn more, visit http://www.ze.com/the-zema-solution.

The ZEMA graph below is an estimate of the spread between Singapore 180cst and 380cst Fuel Oil Swap Futures (April 2015 - December 2019) (CME data). Leverage ZEMAs sophisticated forward curve management functionalities to make more informed trading decisions about crude oil prices and petroleum products. To learn more, book a complimentary ZEMA demonstration.

23April 2015

Petroleum

Platts to Discontinue Weekly US Chemical Grade Propylene Spot AssessmentsEffective October 30, 2015, Platts intends to discontinue its weekly US Chemical Grade Propylene spot assessment due to a lack of liquidity in the market.

Affected assessments:

Propylene Chem Grade FD USG cts/lb Weekly spot -- PHAXI04

Propylene Chem Grade FD USG cts/lb MAvg -- PHBCO03

The assessments are also currently published in the Platts Petrochemical Alert.See the original announcement.

Platts to Stop Zarzaitine Crude Oil AssessmentsAs of October 1, 2015, Platts intends to discontinue its FOB La Skhirra Zarzaitine outright and differential assessments. Platts is making this proposal for the discontinuation of these assessments due to low export volumes and low spot market liquidity for the grade.

Platts currently assesses FOB La Skhirra Zarzaitine on a daily basis, reflecting cargoes of 60,000-140,000 mt loading out of the Mediterranean port of La Skhirra, in Tunisia. Currently, Platts publishes both a FOB La Skhirra Zarzaitine differential assessment (AALOY00) and an outright assessment (AAHMO00). These assessments currently appear on Platts Global Alert page MH1234, and in the Platts Crude Oil Marketwire, and Platts Oilgram Price Report.

Zarzaitine, which is produced in Algeria, is delivered via pipeline to the Tunisian port of La Skhirra in the Mediterranean where it is then loaded for export. Loadings of the grade currently stand at around 30,000 b/d, equivalent to around a single cargo per month. The grade is currently traded via tender approximately a full month in advance of loading and is not regularly traded on a spot basis.See the original announcement.


24April 2015

PetroleumPlatts to Discontinue US DOP AssessmentEffective July 29, 2015, Platts will discontinue its weekly US dioctyl phthalate assessment due to a change in market dynamics.

Liquidity in the US market for DOP has dropped significantly as substitute plasticizers have become more commonplace.

These assessments are listed under the following codes in the Platts price database: DOP FD US Domestic Weekly, PHARA00; Monthly Average, PHARB03.

These assessments are also published in the Platts Petrochemical Alert on page 161.See the original announcement.

Platts to Discontinue Current Palm Oil/Gasoil SpreadAs of May 15, 2015, the current GO-PO spread, which reflects the value of first-month ICE gasoil futures as listed by the InterContinental Exchange against first-month crude palm oil futures as listed on Bursa Malaysia, at 4:30 p.m. Singapore time will be discontinued. GO-PO measures the spread as gasoil minus palm oil, while in the general market the spread is typically expressed as palm oil minus gasoil.See the original announcement.

Platts Ends US Atlantic Coast Distillate CIF Cargo AssessmentsOn April 1, 2015, Platts discontinued multiple US Atlantic Coast distillate CIF cargo assessments:

Boston low sulfur jet kerosene cargo (PJABL00) and ultra low sulfur jet kerosene cargo (AAVTJ00)

New York jet fuel cargo (PJAAX00), New York low sulfur jet kerosene cargo (PJABK00) New York ultra low sulfur jet kerosene cargo (AAVTH00) New York ULSD cargo (AATGW00) Boston ULSD cargo (AATHD00) New York gasoil No. 2 cargo (POAEH00) Boston gasoil No. 2 cargo (POAEA00)

These changes in coverage were in response to evolving market conditions as the Northeast distillates markets are increasingly export, rather than import, markets.

As a result, the following monthly averages were also discontinued:

Boston low sulfur jet kerosene cargo (PJABL03) Boston ultra low sulfur jet kerosene cargo (AAVTJ03) New York Harbor jet kerosene cargo (PJAAX03)

25April 2015

Petroleum New York Harbor low sulfur jet kerosene cargo (PJABK03) New York Harbor ultra low sulfur jet kerosene cargo (AAVTH03) New York Harbor ULSD cargo (AATGW03) Boston ULSD cargo (AATHD03) New York Harbor No 2 gasoil cargo (POAEH03) Boston No 2 gasoil cargo (POAEA03) New York Harbor No 2 gasoil at London MOC 1630 (AAPYY03)

These assessments can be found on Platts Global Alert pages 480, 481, 482, 410, as well as US Marketscan and Platts Oilgram Price Report. USAC distillate barge and pipeline assessments were not affected by this change.See the original announcement.

Platts Ends No. 2 Gasoil NYH Cargos at London MOCAs of April 1, 2015, Platts has discontinued its No. 2 gasoil cargo assessment, in tandem with the discontinuation of its US Atlantic Coast distillate cargo assessments on the same day.

The proposed change is a result of evolving market conditions and state regulations in the US Northeast distillate markets and a lack of an Atlantic Coast No. 2 cargo assessment after March 2015.

As a result of this change, Platts will no longer publish assessments under database codes AAPYY10 (No. 2 at London 16:30 in cents/gal) and AAPYY00 (No. 2 at London 16:30 in Euro cents/gal).

These assessments can also be found on Platts Global Alert page 1450.See the original announcement.

Platts Discontinues Acetone T1, MIBK AssessmentsAs of April 1, 2015, Platts discontinued price assessments for Acetone T1 FOB Rotterdam, MIBK FOB Rotterdam and MIBK FD NWE.

These assessments were previously found in the Solventswire on PC0447 and PC0378 and in the Platts price database under the following codes:

Acetone T1 FOB Rotterdam PHADK00 Monthly average: PHAYM03

MIBK FD NWE Eur/mt HPADX00 Monthly average: HPAYW03

MIBK FOB Rotterdam PHADY00 Monthly average: PHAYV03 See the original announcement.

26April 2015

Petroleum

Platts Ends USGC CIF Naphtha Cargo AssessmentsAs of April 1, 2015, Platts has discontinued assessments for US Gulf Coast naphtha CIF cargos.

This proposed discontinuation is due to substantial changes in market conditions. Significant growth in naphtha production, a result of liquids-rich gas drilling and light crude oil domestic production, has shifted the United States from a net importer to a net exporter of light naphtha and natural gasoline, and these exports have increased substantially as rising US supplies will continue to overwhelm demand.

The discontinued CIF import assessments were published on Platts Global Alert pages 26, 34 and 338; Platts BioFuels Alert page 760; in US Marketscan, North American Crude and Products Scan, and Platts Oilgram Price Report; and in the Platts assessment database under codes AAKWL00 for US Gulf Coast heavy naphtha cargo, and PAAAC00 for US Gulf Coast full range naphtha cargo.See the original announcement.

Platts Discontinues Q1, Q2 Benzene AssessmentsEffective April 1, 2015, Platts discontinued its Q1 and Q2 CIF ARA benzene assessments with. These benzene assessments were previously published on page PCA60 and found under the following codes in the Platts price database:

Benzene CIF ARA Q1 USD AAIBN00 Monthly Average: AAIBO00 Benzene CIF ARA Q2 USD AAIBP00 Monthly Average: AAIBQ00See the original announcement.

Platts Discontinues Some Clean Tanker AssessmentsOn April 1, 2015, Platts discontinued a series of assessments for clean tanker spot rates in markets where the movement of clean petroleum products has changed substantially or no longer occurs.

These assessments reflect certain shipping routes and sizes from the UK Continent, Mediterranean, Black Sea, and Caribbean to various destinations.

27April 2015

PetroleumThese proposed discontinuations reflect the fact that clean petroleum products flows have changed significantly in the market at large, and these routes no longer reflect most typical trading patterns.

A full table showing affected assessments is provided below:

Proposed Discontinuations from UKC Origin Points

Code Assessment

PFAMW00 Clean UKC-South America MR Worldscale Basis (30kt) Daily

PFARU03 Clean UKC-South America MR Worldscale Basis (30kt) MAVG

TCACD00 Clean UKC-South America MR $/mt (30kt) Daily

TCACD03 Clean UKC-South America MR $/mt (30kt) MAVG

PFAMWSZ Clean UKC-South America MR cargo size

PFAMN00 Clean UK Continent-UK Continent LR Worldscale Basis (60kt) Daily

PFARP03 Clean UK Continent-UK Continent LR Worldscale Basis (60kt) MAVG

TCABW00 Clean UK Continent-UK Continent LR $/mt (60kt) Daily

TCABW03 Clean UK Continent-UK Continent LR $/mt (60kt) MAVG

PFAMNSZ Clean UK Continent-UK Continent LR cargo size

PFAMO00 Clean UK Continent-Mediterranean LR Worldscale Basis (60kt) Daily

PFARQ03 Clean UK Continent-Mediterranean LR Worldscale Basis (60kt) MAVG

TCABU00 Clean UK Continent-Mediterranean LR $/mt (60kt) Daily

TCABU03 Clean UK Continent-Mediterranean LR $/mt (60kt) MAVG

PFAMOSZ Clean UK Continent-Mediterranean LR cargo size

Proposed Discontinuations from Mediterranean and Black Sea Origin Points

Code Assessment

PFALA10 Clean Med-South America MR Worldscale Basis (30kt) Daily

AAAUS00 Clean Med-South America MR Worldscale Basis (30kt) MAVG

TCACH00 Clean Med-South America MR $/mt (30kt) Daily

TCACH03 Clean Med-South America MR $/mt (30kt) MAVG

PFALASZ Clean Med-South America MR cargo size

PFALB10 Clean Black Sea-South America MR Worldscale Basis (30kt) Daily

28April 2015

PetroleumCode Assessment

AAAUO00 Clean Black Sea-South America MR Worldscale Basis (30kt) MAVG

TCACJ00 Clean Black Sea-South America MR $/mt (30kt) Daily

TCACJ03 Clean Black Sea-South America MR $/mt (30kt) MAVG

PFALBSZ Clean Black Sea-South America MR cargo size

Proposed Discontinuations from Caribbean Origin Points

Code Assessment

PFAMY00 Clean Caribbean-South America MR Worldscale Basis (38kt) Daily

PFAQJ03 Clean Caribbean-South America MR Worldscale Basis (38kt) MAVG

TCACN00 Clean Caribbean-South America MR $/mt (38kt) Daily

TCACN03 Clean Caribbean-South America MR $/mt (38kt) MAVG

PFAMYSZ Clean Caribbean-South America MR cargo sizeSee the original announcement.

Argus Stops Multiple Russian Fuel Oil AssessmentsEffective April 29, 2015, Argus stopped daily fuel oil M-100 delivered to ports price indexes in RUB/t in Argus Russian Fuel Oil. The following series will be stopped in DARM data module in /DARM folder of ftp.argusmedia.com:

PA-code Time stamp

Price type

Continuous forward


PA0004493 26 8 0 Fuel oil M-100 Ufa del Novorossiysk


PA0004497 26 8 0 Fuel oil M-100 Ufa del St Petersburg


PA0004500 26 8 0 Fuel oil M-100 Ukhta del St Petersburg


PA0005026 26 8 0 Fuel oil M-100 Orsk del St Petersburg


PA0005027 26 8 0 Fuel oil M-100 Nizhnekamsk del St Petersburg


PA0005030 26 8 0 Fuel oil M-100 Nizhnekamsk del Arkhangelsk


PA0005033 26 8 0 Fuel oil M-100 Ukhta del Arkhangelsk


PA0005036 26 8 0 Fuel oil M-100 Orsk del Arkhangelsk


29April 2015

PetroleumPA-code

Time stamp

Price type

Continuous forward


PA0005038 26 8 0 Fuel oil M-100 Saratov del Arkhangelsk


PA0005039 26 8 0 Fuel oil M-100 Nizhnekamsk del Murmansk


PA0005042 26 8 0 Fuel oil M-100 Ukhta del Murmansk


PA0005045 26 8 0 Fuel oil M-100 Orsk del Murmansk


PA0005050 26 8 0 Fuel oil M-100 Orsk del Vladivostok



Argus Removes US Xylenes AssessmentOn April 17, 2015, Argus made changes to Argus DeWitt Toluene and Xylenes Daily. These changes apply to the dtxdaily data files in the \DTXDaily folder on ftp.argusmedia.com.

The following code has been stopped:

PA-codeTime stamp

Price type

Continuous forward

Old Description Unit Category

PA0012132 2 8 1Mixed xylenes US contract month

USC/USG

>Petrochemicals> Xylenes>Americas


30

Petroleum

April 2015

Argus Removes Multiple US Petroleum AssessmentsEffective April 10, 2015, Argus made changes to the Argus US Products data module. These changes apply to the dhp and dhps .csv files in the DUSPR folder of ftp.argusmedia.com.

The following daily codes have been stopped, with final publication date September 2014:

PA-codeTime stamp

Price type

Continuous forward


Unit Category

PA0012121 21, 2 6, 7

0

Naphtha full-range USGC (9.0 RVP supp) waterborne del

Gasoline 87 USGC 9.0RVP

USC/USG

>Products> Naphtha>US Gulf coast

PA0012122 21, 2, 6, 7,

0

Naphtha heavy 40 N+A USGC water-borne del (9.0 RVP supp)

Gasoline 87 USGC 9.0RVP

USC/USG

>Products> Naphtha>US Gulf coast

PA0013509 21, 2, 6, 7

0

VGO 0.5% USGC cargo del vs 70:30 (9.0 RVP supp/ULSD)

VGO 70:30 9 RVP/ULSD USGC fob

USC/USG

>Products>VGO> US Gulf coast

PA0013510 21, 2, 6, 7

0

VGO 0.5% USGC barge del vs 70:30 (9.0 RVP supp/ULSD)


USC/USG


PA0013512 21, 2, 6, 7

0

VGO 1% USGC barge del vs 70:30 (9.0 RVP supp/ULSD)


USC/USG


PA0013513 21, 2, 6, 7

0

VGO 1% USGC cargo del vs 70:30 (9.0 RVP supp/ULSD)


USC/USG


PA0013514 21, 2, 6, 7

0

VGO 2% USGC cargo del vs 70:30 (9.0 RVP supp/ULSD)


USC/USG


PA0013515 21, 2, 6, 7

0

VGO 2% USGC barge del vs 70:30 (9.0 RVP supp/ULSD)


USC/USG


PA0013516 2 1, 2 0VGO 70:30 (9.0 RVP supp/ULSD) USGC fob

-USC/USG



31

Petroleum

April 2015

NYMEX Delists Tanker Freight FuturesEffective April 20, 2015, the New York Mercantile Exchange, Inc. (NYMEX) delisted the Freight Route TC4 (Platts) Futures contract (Clearing Code: TJ; CME Globex Code: TJ; NYMEX Rule Chapter: 681). There was no open interest in this contract.

This contract was delisted from CME Globex and the NYMEX trading floor, and from submission for clearing via CME ClearPort. The product rule chapter 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.See the original announcement.

The following ZEMA graph represents three alternative tanker routes: TC2 Europe to the US Atlantic coast, TC 5 Ras Tanura to Yokohama, and TD3 Middle Easterm Gulf to Japan. Also included is the Average RBOB for gasoline within the same time periods. From the graph it is easy to see that the shipping lines steadily increased their rates from 2010 onwards. In 2011, we can see rates becoming increasingly competitive, creating a price war, as container lines sought to fill their new ships and defend their market share. From the graph, we can also see the price of gasoline having an impact, likely adding to the shippers running costs. To learn more about the ZEMA solution, book a complimentary ZEMA demonstration.


32

Petroleum

April 2015

NYMEX Delists Two Crude Oil Volatility Index Futures and Option Contracts On April 6, 2015, NYMEX delisted two products identified in the Exhibit below. These contracts were listed for trading on CME Globex and the NYMEX trading floor. There was no open interest in any contract subject to this action.

The respective product rule chapters, as well as the terms and conditions contained in Rule 588.H and 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.

Commodity Code Contract Name Rulebook Chapter

CVF Crude Oil Volatility Index (VIX) Futures 982

CVP Crude Oil Volatility Index (VIX) Option 983See the original announcement.

Oil Price Information Service Acquires NAVXEffective March 27, 2015, Oil Price Information Service (OPIS), a global provider of oil industry pricing, news, analysis, and software, has acquired NAVX, a European and South American provider of retail fuel pricing, parking, and Electric Vehicle (EV) charging location information.

The deal combines OPIS extensive North American database of real-time retail fuel prices with NAVXs database for 30 countries in Europe and South America. The deal enables OPIS to further expand its pricing and software services into Europe and South America.See the original announcement.

Argus Renames Petroleum Rail AssessmentsAs of April 1, 2015, Argus made changes to Argus Petroleum Transportation North America. These changes apply to the dptr files in the DPTR folder of ftp.argusmedia.com. Argus is renaming the following series:

PA-codeTime stamp

Price type

Continuous forward

Old Description New Description

PA0011017 2 8 1Rail tank car >5yr lease rate non-pressurized full-serve month

Rail tank car >5yr lease rate non-pressurized CPC-1232 full-serve month

PA0011018 2 8 1Rail tank car >5yr lease rate non-pressurized railcar only month

Rail tank car >5yr lease rate non-pressurized CPC-1232 railcar only month

33

Petroleum

April 2015

PA-codeTime stamp

Price type

Continuous forward

Old Description New Description

PA0011622 2 8 1Rail tank car 1-5yr lease rate non-pressurized full-serve month

Rail tank car 1-5yr lease rate non-pressurized CPC-1232 full-serve month

PA0011623 2 8 1Rail tank car 1-5yr lease rate non-pressurized r ailcar only month

Rail tank car 1-5yr lease rate non-pressurized CPC-1232 railcar only month

PA0011626 2 8 1Rail tank car

34

Petroleum

April 2015

NGX Revises Crude Index Prices and Index Price Details ReportsOn May 1, 2015, in order to improve the usability of the NGX reports, NGX has made changes to the NGX Index Prices and Index Price Details reports. The Crude Oil information from the Index Prices and Index Price Details reports has been separated into the Crude Oil Index Prices and Crude Oil Index Price Details reports. The Crude Oil information will be removed from the existing Index Prices and Index Price Details reports.

A summary of the new Crude Oil reports is as follows:

Crude Oil Index Prices and Crude Index Price Details will be based on existing Index Prices, and Index Price Details reports.

Crude Oil Index Prices, and Crude Oil Index Price Details reports will be listed under Market Data Tab.

Only crude markets will be listed under Indexes filter on Crude Oil reports.

Current Index Reports will be revised as follows:

Crude Oil will be removed as an option in the drop down Commodity filter. Crude information will be removed from the Indexes and Component filter.See the original announcement.

Natural Gas

April 2015

Natural Gas

35

Platts to Launch New European Gas MidpointsEffective July 1, 2015, Platts intends to publish a single midpoint value for each of its European natural gas assessments in pence/therm, Eur/MWh, Eur/Gj and $/MMBtu. The value would reflect the midpoint of the current high-low assessment range.

In addition, Platts proposes to database and publish all European natural gas assessments to three decimal places, also from July 1, 2015, in European Gas Daily, European Power Alert, Natural Gas Alert and Platts Market Data.

Platts seeks to publish the most relevant price data in its daily newsletters and real-time services. Accordingly, Platts proposes to publish price assessments in its European Gas Daily newsletter and European Power Alert and Natural Gas Alert real-time services that reflect the midpoint values only, effective July 1, 2015, and to no longer display the high and low range.

Under this proposal, Platts would continue to publish a high-low range around its midpoint assessments for all European gas symbols in Market Data categories EG and GF. Ranges for all contracts would be standardized as follows:

Primary assessments in Eur/MWh: +/- 10 euro cent. Applicable markets: Austrian VTP, Dutch TTF, French PEG Nord, French PEG Sud/TRS, German GASPOOL, German NetConnect, Italian PSV.

Primary assessments in p/th: +/- 0.10 p/th. Applicable markets: Belgian Zeebrugge, UK NBPSee the original announcement.

ZEMA collects over 100 Platts natural gas records, several of which are daily European data reports. To find out how ZEMA can use this data to create sophisticated forward curves, visit http://www.ze.com/the-zema-suite/curve-manager.

36

Natural Gas

April 2015

The ZEMA graph below shows an April 2015 to April 2017 European Arbitrage Free Natural Gas Forward Blended Curve (EEX data). Here we see one of ZEMAs many formulas on display, seamlessly allowing for the blending of multiple forward contracts monthly, quarterly, and annual into one, single Arbitrage Free Blend (All) curve. From a data standpoint, the monthly arbitrage-free blended curve begins at around the 22 Euro mark, moving to upwards of 23 Euro by the end of 2016 before finally settling at 21.46 Euro in June. On a quarterly basis, the arbitrage-free blended curve follows suit, dipping even further to 21.04 Euro from July to September of 2016, before rebounding to 22.77 Euro In October. The combined arbitrage-free blended curve accounts for all high and low points, adjusting to inefficiencies that occur due to the nature of specific contract durations. To learn more, book a compli-mentary ZEMA demonstration.

Argus Introduces New European Natural Gas AssessmentsAs of May 1, 2015, Argus introduced new daily assessments for Argus European Natural Gas. The following PA code details will appear in the DNG module in the DENG folder on ftp.argusmedia.com.

PA-codeTime stamp

Price type

Continuous forward


Unit Category

PA0016324 6 4 1Natural gas Austria VTP index month

- Euro/MWh>Natural gas> Europe>Austria VTP

PA0016323 6 4 1

Natural gas Czech Republic VTP index month

- Euro/MWh>Natural gas> Europe> Czech Republic VTP


With ZEMA, you can access more than 700 natural gas data reports, many of which are from Argus specifically. To learn more about ZEMAs extensive data collection capabilities, visit http://www.ze.com/the-zema-solutions/data.


37

Natural Gas

April 2015

ICE Endex Expands Dutch TTF Spot Market to GermanyEffective April 13, 2015, the Intercontinental Exchange (ICE) announced that ICE Endex has added NetConnect Germany GmbH & Co. KG (NCG), the German market area operator, as a trading participant for the Dutch TTF gas spot market.

Operated by ICE Endex, the Dutch TTF gas spot market was previously used by Gasunie Transport Services (GTS) to balance the Dutch gas transmission system. Since April 13, NCG has further diversified the tools it uses to procure balancing gas and services by extending its exchange trading activities to ICE Endex for the procurement of balancing gas for their market areas low calorific value gas system.

As well as operating the spot and balancing markets in the Netherlands, ICE Endex offers identical services to the UK and Belgian transmission system operators. All markets are hosted on the ICE trading platform.See the original announcement.

ICE Endex Transitions UKs On-the-day Commodity Market to the ICE Trading PlatformAs of April 1, 2015, ICE Endex has transitioned the UKs On-the-Day Commodity Market (OCM) to the ICE trading platform. Designated by OFGEM and appointed by National Grid Gas, ICE Endex is the market operator of the OCM.

Following the transition of the OCM balancing and spot markets, all ICE Endex markets, including derivatives, continental balancing and spot, are available on WebICE, ICEs front-end trading screen. All National Balancing Point (NBP) products offered by ICE Futures Europe and ICE Endex are listed on the ICE platform.

The ICE Endex OCM Indexes are used by National Grid Gas in the UK as the official price for the settlement of imbalances. Market enhancements on WebICE include the real time publication of these indexes, which will support the trading experience of market users.

Including the OCM transition, ICE Endex successfully transferred all of its markets to the ICE trading platform in three tranches. The derivatives markets, which includes the flagship TTF and ZTP futures contracts, were transitioned first in October 2013 and the continental spot and balancing markets were migrated to the ICE trading platform in April 2014.

The OCM, TTF, and ZTP spot and balancing markets were previously hosted on the APX trading platform. All markets will continue to be cleared by APX Clearing and this service is expected to be migrated to ICE Clear Europe during 2015.See the original announcement.

ZEMA collects 130 ICE records. To learn more about how ZEMA can collect, aggregate, and analyze data, book a complimentary ZEMA demonstration now at http://www.ze.com/book-a-demo.

38

Natural Gas

April 2015

Argus Adjusts Asian LNG AssessmentsEffective April 1, 2015, Argus changed the methodology of the daily ANEA assessment (PA0010603) to include China from April 1. The previous assessment including only Japan, South Korea and Taiwan has been continued under the new code (PA0016241) listed below from April 1. Additionally, the freight prices previously only in the publication have been available in the data feeds since April 1. The following PA code details can be found in the DLNGD module in the DLNGD folder on ftp.argusmedia.com.

PA-codeTime stamp

Price type

Continuous forward

Description Unit Category

PA0009978 0 20 0 LNG freight west of Suez USD/day >Freight>LNG

PA0009979 0 20 0 LNG freight east of Suez USD/day >Freight>LNG

PA0010603 0 1, 2, 8 1, 2, 3LNG des Northeast Asia (ANEA) half-month

USD/mnBtu

>Natural gas> LNG>Asia-Pacific

PA0016241 0 1, 2, 8 1, 2, 3LNG des Japan. South Korea. Taiwan half-month

USD/mnBtu

>Natural gas> LNG>Asia-Pacific


Coal

April 2015 39

Coal

Platts and Fenwei Launch CCI Met China Coal AssessmentsOn April 13, 2015, Platts and Shanxi Fenwei Energy Consulting Co. Ltd. have launched China Coal Index Metallurgical (CCI Met) series.

The new series includes five spot metallurgical coal assessments in the domestic Chinese spot market.

The assessments are designed to reflect the daily tradable values of a range of coal specifications in the Chinese domestic spot market. The assessments are:

CCI Met Shanxi Premium Low Vol CCI Met Shanxi High Sulfur Premium Low Vol CCI Met North China Fat Coal CCI Met Shanxi PCI CCI Met Shandong Semi Soft

The assessments are assessed in Yuan per metric ton on either an Ex Washplant, Free on Rail, or Delivered Duty Paid Tangshan basis, wherever applicable.

Platts and Fenwei also assess four domestic logistic routes, including both rail and truck freight from Shanxi to Tangshan and Shandong.

The assessments are published in SBB Steel Markets Daily, Coal Trader International, Metals Market Data category MC, Platts Metals Alert page 1050 and Global Coal Alert page 1050. See the original announcement.

ZEMA collects more than 150 data reports on coal alone, more than 20 of which are from Platts specifically. To learn more about turning market data into market intelligence, book a complimentary ZEMA demo at http://www.ze.com/book-a-demo.

40April 2015

CoalThe ZEMA graph below shows API 8 CFR South China Coal Futures prompt analysis (September 2012-June 2015) and forward curves (April 2015-January 2016), with a monthly shaping average and annualized historical volatility (NYMEX data).

Keep track of US coal industry updates using ZEMAs data collection and validation tools. To learn more, book acomplimentary ZEMA demonstration.


Platts Discontinues 9500HR and 11000HR Coal AssessmentsAs of May 1, 2015, Argus stopped 9500HR and 11000HR codes in the Argus Coal Daily data feed. For FTP subscribers, these changes apply to the dcu files in the DCDR folder of ftp.argusmedia.com.Seethe original announcement.

Softs and Metals

April 2015 41

SOFTS

Softs and Metals

EEX to Introduce Agricultural Index FuturesOn May 11, 2015, the European Energy Exchange (EEX) will expand its product offering with Agricultural Index Futures. Within the framework of the parallel delisting of the corresponding contracts at Eurex Exchange, open positions will be migrated from the Eurex Clearing AG clearing house to the European Commodity Clearing (ECC) after the end of trading on May 8, 2015, subject to the approval of the supervisory authority. From that date, financially settled futures on butter, piglets, potatoes, skimmed milk powder, whey powder, and hogs will be available for trading on EEX.

The following Agricultural Index Futures will be offered for order book trading and Trade Registration on EEX from May 11, 2015, onwards:

Exchange code

Name ISIN code Contract volume Tradable maturities

FAPP European Processing Potato Future

DE000A13RUL7 25 metric tons

The next three maturity months from the April, June and November cycle and the subsequent maturity month of April

FAPG Piglet Future DE000A13RUQ6 100 piglets The maturities of the current calendar month and of the next twelve consecutive calen-dar months as well as the subsequent two calendar months from the March, June, September and December cycle

FAHG Hog Future DE000A13RUR48,000 kg slaughtering weight

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FASMSkimmed Milk Powder Future

DE000A13RUM5 5 metric tons The maturities of the current month and of the next eighteen consecutive calendar months

FAWHEuropean Whey Powder Future

DE000A13RUN3 5 metric tons

FABT Butter Future DE000A13RUP8 5 metric tons


ZEMA collects dozens of data reports from the European Energy Exchange, spanning the electricity, natural gas, coal, and financial markets. To find out how ZEMA can add any data feed not already in its library, visit http://www.ze.com/the-zema-solutions/data.

NYMEX Lists Renewable Identification Number Futures ContractsEffective April 20, 2015, the New York Mercantile Exchange, Inc. (NYMEX) listed three new cash-settled Renewable Identification Number (RIN) futures contracts for vintage year 2015 for trading on CME Globex and the NYMEX trading floor, and for submission for clearing via CME ClearPort. Also concurrent with the launch of these contracts, the Exchange permits block trading pursuant to Rule 526 (Block Trades) in these contracts. Contract specifications are as follows:

Contract Title D4 Biodiesel RINs (Argus) 2015 Futures

D5 Advanced Biofuel RINs (Argus) 2015 Futures

D6 Ethanol RINs (Argus) 2015 Futures

Rule Chapter 1300 1301 1302

Commodity Code D45 D55 D65

Listing Schedule All months including and between May 2015 February 2017

All months including and between May 2015 February 2017

All months including and between May 2015 February 2017

Contract Size 50,000 RINs 50,000 RINs 50,000 RINs Minimum Price Fluctuation

0.0001 0.0001 0.0001

First Listed Contract May 2015 May 2015 May 2015

Value per Tick $5.00 $5.00 $5.00

Block Trade Minimum Threshold

5 contracts 5 contracts 5 contracts

Termination of Trading Trading ceases on the last business day of the contract month

Trading ceases on the last business day of the contract month

Trading ceases on the last business day of the contract month

CME Match Algorithm First In First Out (F) First In First Out (F) First In First Out (F) See the original announcement.

43April 2015

Softs and MetalsAgriCharts Launches Online Platform for Physical

Grain TradingEffective April 21, 2015, AgriCharts, the agricultural commodity division of Barchart, released a new online platform, named the AgriCharts Grain Offer System, which modernizes the buying and selling of physical grain between grain elevators and farmers. With the AgriCharts Grain Offer System, both producers and buyers of grain, including corn, soybeans and wheat, will be able to transact orders from their desktop, phone or tablet. The AgriCharts Grain Offer System is completely web-based and leverages advanced technologies including cloud-based infrastructure from Amazon Web Services. The Grain Offer System further compliments the range of web-based market data and trading services AgriCharts provides to the agricultural industry

The AgriCharts Grain Offer System has many features designed for both buyers and sellers of grain.

For Grain Merchandisers and Elevators: Seamlessly integrate online offers into your website. Monitor your elevators farmer offers against CBOT prices. Receive text and/or email notifications of changes in an offer status. Download and sort reports of all current and archived offer activity. Sync offer activity with your accounting system using our simple API. Customize alerts when offers are within a specified value away from matching. Create offers on-the-fly for a farmer. Easily create and view farmer accounts on your custom dashboard.

For Farmers: Register, subscribe and login to your own version of the Grain Offer System to begin

creating and managing offers with your elevator. Easily create and cancel your own offers. Receive text and/or email notifications of offer status changes. Download and sort reports of your current offer activity and history.See the original announcement.

ZEMA collects data on softs from over 100 reports on softs from dozens of different sources including ICE, NYSE Liffe, and the USDA. ZEMA can then push this data to downstream systems throughout your organization. To find out how, visit http://www.ze.com/the-zema-solutions/integration.

44April 2015

Softs and Metals

METALS

Platts to Launch Weekly South Korea Aluminum Premium AssessmentsOn June 4, 2015, Platts intends to add a weekly spot CIF South Korea aluminum premium assessment.

The spot assessment would reflect the premium or discount to the LME cash price for P1020A basis CIF Busan, duty-unpaid, for P1020 ingots of any origin, with a typical trade volume of 500-1,000 mt.

The specifications of the metal will be P1020A to meet LME specification, 99.7% Al min, max 0.1% Si, 0.2% Fe, 0.03% zinc, 0.04% gallium, 0.03% vanadium. The assessment would be basis CIF Busan, duty-unpaid, VAT not included, delivery in next 30 days from date of transaction, payment terms LC at sight and cash against documents.

Trades CIF Incheon will be normalized to CIF Busan, and other domestic and regional transactions may be considered for trend purposes. Assessed once per week, on Fridays or closest business day, through a survey of producers, traders and consumers of P1020A active in the spot market.

Platts would monitor the market throughout the week and consider in its assessments all of the information provided regarding deals, bids, and offers in the market, but the value reflected in the assessment would be the tradable value at the close of 4:30 pm Singapore time (0830 GMT).

The assessment would be published in Platts Metals Alert, Platts Metals Daily, and Market Data category MM.See the original announcement.

ZEMA collects 12 different Platts reports on metals from Asia alone. To find out how ZEMAs data library can be customized to your specific needs, visit http://www.ze.com/the-zema-solutions/data.

Platts to Publish New Hot-Rolled Coil Steel AssessmentsEffective May 25, 2015, Platts intends to increase the frequency of assessment for the hot-rolled coil steel FOB China price assessment (STHRZ02) to daily. The assessment is currently published weekly on Thursdays.

At the same time, Platts is proposing to clarify the assessments specifications to SS400 or equivalent coil of 3 mm thickness and 1,200-1,500 mm width. The location basis specified will be FOB Tianjin, and the cargo size will be 5,000 mt. Payment terms will be L/C at sight. Cargoes for shipment between one to two months forward from the date of publication would be considered for assessment.

Platts also intends to publish a new assessment reflecting the premium that SAE1006 or equivalent coil 2 mm thick commands over SS400 coil of the specifications clarified above. The premium will be derived from Platts assessment of SAE1006 coil, normalized to the same

45April 2015

Softs and Metals

location, quantity, cargo size, and payment terms specified for the SS400 assessment. It will be published daily.

The premium will be derived from Platts assessment of SAE1006 coil, normalized to the same location, quantity, cargo size and payment terms specified for the SS400 assessment. It will be published daily.

Platts will consider for assessment deals, bids and offers for cargoes of other qualities and sizes, and loading from other Chinese ports, and normalize them to the standard specifications. See the original announcement.

By collecting more than 200 regular reports about metals, ZEMA lets you stay up to date on the latest developments in the metals market. To learn more, visit http://www.ze.com/the-zema-solution/.

Platts to Publish Iron Ore Phosphorus DifferentialOn May 18, 2015, Platts plans to publish a daily phosphorus differential used in the normalization process for its iron ore fines assessments.

This differential will be reflective of ores within the 60-63.5%-Fe range, in line with the current per 1% Fe differential. The differential will be monitored and updated to reflect spot market value.

This differential adjustment used in normalization will be expressed in dollars per dry metric ton for every 0.01 percentage point of phosphorus, for the range of 0.09%-0.12% phosphorus.

Platts will continue to monitor penalties and premiums for phosphorus above this level and outside of the Fe range and continue to publish this information on a case-by-case basis in market commentaries and news stories.

Platts will publish this value in the daily iron ore assessment table in SBB Steel Markets Daily on page 3 and on page MW1105 of PMA and will database the value, making it available in data products under the category SI.See the original announcement.

Platts Publishes Daily Settlement Value for India Gold BullionAs of April 13, 2015, Platts published a daily settlement value for gold bullion imported by India.

Platts Gold Settlement India is intended to reflect a settlement value for gold in kilo bars delivered to a secure vault in India normalized to Ahmedabad in Indian rupees per troy ounce. The value comprises an assessment of the prevailing international spot value for gold, Platts existing Gold Premium India (GPI) assessment, and an Indian Rupee exchange rate, also using prevailing market rates assessed at 18:00 India local time. For example, the composite value on March 30, 2015, would be US$1186.10 + US$1.50 x 62.611 = INR 74,350.56/tr oz.

46April 2015

Softs and Metals

The settlement value would be published daily following the India business calendar on Platts Metals Alert page 313 and in the newsletter Metals Daily.

Platts would also publish a monthly average of the daily settlement value in the same publications.See the original announcement.

Furthermore, in early May 2015, Platts is planning a subsequent launch regarding the settlement value for gold bullion in India.

Platts will also consider including Indian Tariff and Customs duty in the calculated value, to make Gold Settlement India (GSI) a delivered duty paid value. Platts will also consider publishing the settlement value in Rupee per kilogram and Rupee per 10 grams.See the original announcement.

ZEMA collects more than 90 metals records from Platts alone. To gain a wider perspective on the metals market and find out how the ZEMA solution can enhance your companys business processes, visit http://www.ze.com/the-zema-solution.

Argus to Introduce New European Terbium, Dysprosium, and Erbium AssessmentsEffective May 7, 2015, Argus is introducing the following new daily assessments to Argus Rare Earths report and associated data feed. The data series will become available on 07-May-2015 in DRareEarths data module in /DRareEarths folder on ftp.argusmedia.com.

PA-code Time stamp

Price type

Continuous forward

Description Unit Category

PA0016336 0 1, 2 0 Terbium oxide min 99% cif Europe

USD/kg >Metals - Non-ferrous>Rare Earths>Europe

PA0016337 0 1, 2 0 Dysprosium oxide min 99% cif Europe


PA0016338 0 1, 2 0 Erbium oxide min 99% cif Europe



ICAP Energy Introduces Iron Ore Derivatives ContractEffective March 25, 2015, ICAP Energy, the energy business of ICAP plc, announced that it has successfully traded a newly launched lower-grade iron ore derivatives contract on the Singapore Exchange (SGX). The SGX 58% FE Metal Bulletin index was launched on March 9 and ICAP Energy was one of the first brokers to execute a trade on the launch day.

47April 2015

Softs and Metals

The trade occurred between one of ICAP Energys international commodity trading house clients and a Chinese steel mill. The April contract was traded at $49 per ton cfr for 20,000 ton, with a spread of $8 per ton against the TSI 62% FE index.

The SGX offers clearing services for two 58% FE iron ore derivatives contracts. The swaps and futures contracts are cash-settled against either Metal Bulletins 58% FE Premium Index or TSIs 58% FE iron ore index.See the original announcement.

This ZEMA graph below illustrates Iron Ore Futures Settlement Pricing from April 2015, with a forecast date of December 2017. Pricing ranges from just below 57 USD/t in April 2015 to 51 USD/t in December 2017. This data is collected from forward curve analyses from a NYMEX data report. To learn more, book acomplimentary ZEMA demonstration.


Platts to Discontinue Daily Tokyo Kerb Aluminum AssessmentsAs of July 1, 2015, Platts intends to discontinue publication of the daily Tokyo Kerb Prices for Aluminum Cash (MMALV00), and Tokyo Kerb Prices for Aluminum 3-Month (MMALW00).

Since the launch of LME Select, which provides live electronic LME trading prices 24 hours a day, the relevance of Kerb has diminished significantly.

With the discontinuation of these prices, Platts will also cease to publish the daily Tokyo Kerb Aluminum Cash price in yen/kg (MMATK00), and the Tokyo Kerb 3-Month price in yen/kg, which are automated prices with the yen conversion.See the original announcement.

48April 2015

Softs and Metals

Platts Discontinues New York Dealer Osmium AssessmentAs of March 26, 2015, Platts has discontinued publication of the weekly New York Dealer Osmium Price (MMACX00). The last price assessment for this series was published March 26, 2015.See the original announcement.

COMEX Delists Two Gold Volatility Index Futures and Option Contracts Effective April 6, 2015, Commodity Exchange, Inc. (COMEX) delisted two products identified in the Exhibit below. These contracts were listed for trading on CME Globex and the COMEX trading floor. There was no open interest in any contract subject to this action.

The respective product rule chapters, as well as the terms and conditions contained in Rule 588.H and 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 COMEX Rulebook were removed from the Exchange Rulebook.

Commodity Code Contract Name Rulebook Chapter

GVF Gold Volatility Index (VIX) Futures 984

GVP Gold Volatility Index (VIX) Option 985See the original announcement.

Finance

April 2015 49

Finance

CBOE Debuts Options on the MSCI Emerging Markets and MSCI EAFE IndexesOn April 21, 2015, CBOE Holdings, Inc. launched options on the MSCI Emerging Markets and MSCI EAFE Indexes. The CBOE ticker symbols are MXEF for options on the MSCI Emerging Markets Index and MXEA for options on the MSCI EAFE Index.

Under an agreement with MSCI Inc., options on the MSCI Indexes have been listed for trading in the United States solely on the Chicago Board Options Exchange (CBOE). IMC Financial Markets will serve as the Electronic Designated Primary Market-Maker (E-DPM) for the new MSCI options contracts.

Options on the MSCI Emerging Markets Index and the MSCI EAFE Index are designed to enable investors to efficiently hedge their non-US equity portfolio exposures or to diversify their portfolios.

The MSCI Emerging Markets Index captures large- and mid-cap representation across 23 emerging-market countries. With over 800 constituents, the index covers approximately 85 percent of the free-float-adjusted market capitalization in each country.

The MSCI EAFE Index comprises MSCI country indexes that represent developed markets outside of North America: Europe, Australasia and the Far East. The MSCI EAFE Index is calculated in US dollars on a real-time basis, and its values are disseminated every 60 seconds during market trading hours.

Options on the MSCI Emerging Markets and EAFE Indexes are the first of six MSCI Indexes expected to launch in 2015. Later this year, CBOE also plans to offer options on the MSCI ACWI Index, MSCI USA Index, MSCI World Index, and the MSCI ACWI ex-USA Index, subjec

Documents

DataWatch - April 2015