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 throughThursdays and concluding at 9:50 AM the following day. On Sundays, thesession begins at 7:00 PM. There is an additional session, from 3:15 PM to5:00 PM, on Fridays and the day preceding all major holidays. Thissession's trade date will be dated for the following business day.

Trading Months

12 consecutive months on a rolling basis, starting with the January 2006contract 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 istraded, bid, or offered at the limit for five minutes, trading is haltedfor five minutes. When trading resumes, the limit is expanded by $0.25 pergallon in either direction. If another halt were triggered, the marketwould continue to be expanded by $0.25 per gallon in either directionafter each successive five-minute trading halt. There will be no maximumprice fluctuation limits during any one trading session.

Last Trading Day

Trading terminates at the close of business on the last business day ofthe 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 forseller's shore facility: capability to deliver into barges. Delivery mayalso be completed by pipeline, tanker, book transfer, or inter- orintra-facility transfer. Delivery must be made in accordance withapplicable federal, state, and local licensing and tax laws. Deliveryshall comply with all state laws related to oxygen content.

Delivery Period

Deliveries may only be initiated the day after the fifth business day andmust 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 whohave been matched by the Exchange subsequent to the termination of tradingin the spot month contract. If buyer and seller agree to consummatedelivery under terms different from those prescribed in the contractspecifications, they may proceed on that basis after submitting a noticeof their intention to the Exchange.

Exchange of Futures for Physicals (EFP)

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

Grade and Quality Specifications

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

Margin Requirements

Margins are required for open futures positions.

Trading Symbol

RB

Gasoline Blendstock Futures Options