ZE Datawatch Emagazine November and December 2015

Po
NOVEMBER DECEMBER 2015

ZEMA Adds New Data
Reports to its Data Catalog
EIA Reports Small-Scale

Solar PV
Foreca Supports BMW Drivers

with Global Weather Forecasts
Nasdaq Acquires
Chi-X Canada
The Year-end Review

and Future Projections:
Awaiting More Synergy
between the Energy Sector and IT
By Olga Gorstenko,
Editor-In-Chief Datawatch
olga@ze.com
Powered by
New products and
data sources
Delisting of products
and data sources
Potential impact
on data
Changes to data attributes,

replacement of products
The Year-end Review and Future Projections: Awaiting More Synergy between the Energy Sector and IT 6
9
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10
12
12
13
13
13
14
Power
Petroleum
Nat Gas
EIA Offers Monthly Data on State-Level Small-scale Solar PV Capacity and Generation
EEX Adds UK Power Futures
ICE Launches New Power Contracts
Platts Adds Spanish Spark Spread Indicators
Nodal Exchange Launches New Generation Node Futures for PJM and ISO-NE
Nodal Exchange Adds 40 Contracts for SPP Market
NYMEX Delists PJM Electricity Option on Calendar Futures Strip
European Power Exchange Extends to More European Regions
NV Energy Joins the Western Energy Imbalance Market
Editorial
Power 9
Summary
Summary
Editorial 6
Petroleum 15
15
16
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27
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Softs
Metals
Freight
Finance
Weather &
Emissions
Other
Data
Partners
Market
Analysis
November December 2015
Coal
EIA Adds API Gravity to Monthly Reporting of Crude Oil Production

ICE Starts Trading New OPIS Futures
ICE Launches New Petroleum Contracts
NYMEX Lists Mini Argus Butane (Saudi Aramco) Futures
CME Starts Trading New DME Oil Products
CME Lists New European Petroleum Crack Spread Futures
Argus Adds European Refined Products
Argus Adds Asia-Pacific Refined Products Forward Curves
Platts to Start New Latin American Refined Products Assessments
Argus Adds Durban Jet Fuel Series
Argus Adds New Series to the European and Asian Crude
Argus Adds New Series to the European Crude
Argus Adds New Series to the US Petroleum Series
Argus Adds New Petroleum Dubai Intermonth Series
Argus Adds Condensate Indexes for Qatar and North West Shelf
Argus Adds Marine Fuel for Taiwan Series
Argus Adds Netback Series
Argus Introduces West Africa Fuel Oil Series
Argus Adds Bitumen Assessments for Caspian Region
Platts to Assess Dubai Derivatives Independent of Physical Market
Platts to Launch Busan, Colombo Bunker Assessments
Platts Launches Nigeria, Canary Islands Bunker Assessments
Platts to Launch Panama Canal, Santos Bunker Prices
Platts Starts Asia Benzene CFR China Assessments
Nat Gas
Coal
41
41
Petroleum
ICE Launches New Natural Gas Liquids Contracts

Argus Adds European Natural Gas Volatility Series
Power
41
Softs
Coal 42
42
42
43
43
44
44
Metals
Freight
ICE Launches New Coal Contracts

Argus Adds Coal Series for Europe and Africa
Platts Launches Daily Met Coal Relativity Assessments
Platts Proposes Daily Illinois Basin Assessment
Platts to Launch Daily Metallurgical Coal Relativity Assessments
Platts Plans to End OTC Hedge Price Monitor
Editorial
Natural Gas
Summary
33
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35
35
36
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38
38
39
39
40
40
Summary
Platts to Begin Assessing North Sea Crude Grane Blend

Platts Launches Full Calendar Month Russian Domestic Crude Netbacks
Platts Launches New Latin American Refined Products Assessments
NYMEX Delists Three Energy Variance Futures
NYMEX Delists Contract Months for Seven Gulf Coast Fuel Oil Futures and Options
Argus Stops Several China Petroleum Price Types
Argus Discontinues Several Australian Crude Price Types
NYMEX Amends Contracts for DME Oman Crude and Gulf Coast Gasoline
Platts Ends US CGP Assessments
Platts Discontinues Some Latin American Refined Products Assessments
NYMEX Delists Some Contract Months for Three Gulf Coast Gasoline Futures
Argus Replaces Several China Petroleum Price Types
Argus Updates Description for Wax Data Reports
Softs 45
Weather &
Emissions
Other
Data
Partners
Market
Analysis
45
45
46
46
46
47
47
48
49
50
Finance
ICE Futures Europe to Introduce Containerised White Sugar Futures

Thomson Reuters Launches Islamic Asia Pacific Ex-Japan Agribusiness Index
Platts Launches Daily APW Wheat FOB Australia Assessment
Argus Starts Biomass Series for Vietnam
Argus Introduces Americas Biofuel Series
Moscow Exchange Launches Grain Trading
CME Delists the U.S. Dollar Cash Settled Crude Palm Oil Futures
Argus Stops Fertilizer Index
Argus Discontinues Some Biofuel Series
CME Amends Feeder Cattle Futures
Power
52
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53
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55
55
55
56
57
57
59
60
61
Petroleum
Nat Gas
Coal
Softs
Freight 62
62
62
63
63
64
66
66
66
68
Metals
Freight
Finance
Platts to Launch New Capesize Coal Freight Assessment

Platts Proposes New Panamax Dry Bulk Freight Assessment
Platts Launches New LR2 Clean Tanker Assessments
Argus Introduces Biofuel Freight Series for Malaysia
Argus Adds Petroleum Transportation Series for North America
Platts Discontinues Ethanol FOB Singapore Assessment
Platts Discontinues Capesize, Panamax Coal Freight Assessments
Platts Ends North America, Panama LS 1% Bunker Assessments
Argus Changes Description for German Fuels (Handel)
CME Delists Contract Months for the Freight Route TD3 (Baltic) Futures
and Suspends Additional Contract Months for the Freight Route TD3 (Baltic) Average Price Options
69
Weather &
Emissions
Finance 70
Data
Partners
73
74
4
Market
Analysis
70
70
71
72
72
Other
Bloomberg Launches New Bond Pricing Data of Japan Securities Dealers Association
Xetra Launches iShares ETFs on Individual Sectors of S&Ps Sector Index Family
Xetra and Brse Frankfurt Launch ETFs on Japanese Market
CME Adds 1-Month and 3-Month Euro/US Dollar Realized Volatility Futures
CME Lists S&P MLP Total Return Index Futures Contract
CBOE Introduces Five New Options-Based Strategy
Performance Benchmark Indexes Tied to Russell 2000
ICE Futures Singapore Launches Commodity and FX Contracts
Editorial
51
51
Summary
LME Launches Ferrous and Premium Contracts

CME Launches Lead Futures
CME Lists Copper (COMEX) and U.S. Midwest Hot-Rolled Coil Steel Index
Average Price Options (NYMEX)
Platts to Assess Weekly Japan H2 Ferrous Scrap
Platts Adds 6000 Series Scrap Assessments
Platts to Launch New Global Steel Mill Economics Spreads
Platts Assesses Ex-works China Alumina Basis Shanxi
Platts Launches All-in China Aluminum Prices
Platts Proposes New Mexican Aluminum Assessments
Argus Introduces New Rare Earth Metal Series
Platts Discontinues China Aluminum Premiums
Platts Stops Steel Mill Economics Global Spreads
COMEX Delists Two Precious Metals Variance Futures
Platts Discontinues Some Minor Metals Assessments
Argus Makes Changes to Steel Feedstock
Summary
Metals 51
Market
Analysis
Data
Partners
95
96
97
98
99
Other
North American Daily Temperature (AccuWeather)

North American Electricity Day-Ahead Prices (ICE)
North American Natural Gas Spot Prices (NYMEX)
Crude Oil Brent vs. WTI Forward Curve (NYMEX)
Gold and Silver Daily Prices (CME)
Weather &
Emissions
95
Finance
Monthly Market Analysis
Freight
88
88
89
91
92
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92
93
Metals
ZEMA Adds Petroleum, Electricity, Natural Gas, Softs, and Weather

Data in November and December 2015
PEGAS: New locational products for Germany and France
Success of 15-Minute Contracts Reveals Potential for Further Auctions
European Power Exchange to Extend its Services to Other European Regions
Platts to Launch Daily Illinois Basin Coal Price
Platts Proposes to Begin Assessing North Sea Crude Grane Blend
Platts to Include Al Shaheen, Murban in Mid East Crude Benchmarks
Argus Brings Clarity to South African Jet Fuel Pricing
Softs
88
Coal
News from Data Partners
Nat Gas
83
84
84
85
86
86
Petroleum
Foreca Launches Connected Car Weather Services for BMW

JSE Adds IFC Green Bond
ICE Launches New Environmental Contracts
NYMEX Adds Two Renewable Identification Number (RIN) Futures
NYMEX Delists California Carbon Allowance (CCA) Futures and Options
CME Delists Some Monthly & CDD Weather Futures and Options
Power
83
Editorial
Weather and Emissions
Summary
75
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78
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81
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82
82
Summary
CME Lists Two S&P 500 Dividend Index Futures Products

US S&P 500 Equity Index ETF Launched on Xetra
Four WisdomTree Equity Index ETFs Launched on Xetra
Xetra Launches Van Eck Global Equity Index ETF
New Deka Bond Index ETF Launched on Xetra
Xetra Launches Worlds First Indian Fixed Income ETF
CME Delists Four FX Variance Futures
CME Globex Ceases Listing Treasury Calendar Spreads with Non-Standard Ratios
ICAPs EBS BrokerTec and SGX Sign Collaboration Agreement
CFETS, SSE and Deutsche Brse Establish CEINEX
Euronext Extends Contract with Luxembourg Stock Exchange
TMX Group Introduces a New Mutual Funds Platform
Nasdaq to Acquire Chi-X Canada
SGX Launches Trading Venue for Asian Bonds
Summary
Editorial
Editorial
Power
The Year-end Review

and Future Projections:
Nat Gas
Coal
By Olga Gorstenko,
Editor-In-Chief Datawatch
olga@ze.com
Petroleum
Editorial
Awaiting More Synergy

between the Energy Sector and IT
Softs
Metals
Weather &
Emissions
Other
Data
Partners
Ample supply boosted by OPEC throughout the whole year consistently outpaced global
demand. With oil stockpiles reaching the highest levels in many years, the year ended with
just too much oil. At the end of 2015, OPEC raised its production ceiling, the U.S. lifted the
6
Market
Analysis
Finance
Crude oil prices saw the most remarkable crash with WTI dropping from around $100 to the
$30 territory and the spread between Brent and WTI shrinking. Data vendors supporting
petroleum markets have been busier than data providers for any other market in 2015:
multiple new price assessments for Middle East and Russia, various Brent and WTI spreads,
associated freight pricing and so on.
Freight
Lacking originality, we are closing 2015 with the yearly review and endeavored predictions of
the near future; this time however, we will look at the energy sector in conjunction with data
business and software solutions. The energy sector has been facing probably some of the
most difficult times ever. Each industry within this sector is being impacted by completely
different factors which, nonetheless has something in common: turbulence and high
uncertainty. Fossil fuels have been dealing with the most complexity and controversy and
have kept data vendors very busy. The power industry has been trying to find firm grounds with
disruptivetechnologies (i.e. renewables) approaching maturity; this has been creating very
attractive opportunities for data management and other software solution providers.
Editorial
Power
Petroleum
The story from the coal fields is a bit different. The rope on this fossil fuel tightened up by a
couple knots in 2015. In August, the EPA approved the Clean Power Plan, the first federal
regulations for the power sector seeking to cut CO2 emissions from the industry 32% below
2005 levels by 2030. Then the COP-21 talks in Paris in November resulted in created the
agreement between 190 countries to make their economies operate atzero net emissionsin
the second half of the century. To achieve this goal, utilities will likely be dealing with much
stricter carbon allowances than those stipulated by the Clean Power Plan. Carbon
capturing technologies for the power industry have not had much to brag about. Theworlds
first post-combustion carbon capture and sequestration plantthat came online in November
in Saskatchewan ran into cost overruns. Mississippi Power also admitted that its carbon
capture integrated gasification combined cycle facility currently under construction istwo
years behind schedule and afflicted by precipitous cost overruns. Given these market
dynamics, in the U.S., anyway, the coal industry hardly contributed to the data business in
2015 (except for some activity related to rebalancing of the PRB assessments and freight)
and no crystal ball is needed to foresee that the coal industry will face major cutbacks in the
near future.
Nat Gas
Coal
Softs
Freight
Finance
Weather &
Emissions
The electricity industry was the most prolific newsmaker in 2015 with renewables as the belle
of the power ball. Both wind and solar set generation records. Renewable and clean energy
revolution spun into other industries and technologies: energy storage with Teslas home
battery and a scalable utility-size pack, more electric vehicles, new efficiency technologies,
and distributed renewables - just to name a few of the more prominent ones. Above all,
integration of distributed renewable generators into the grid has impacted the industry the
most. It affects the structure of the marketplace and players themselves. In 2015, the focus
was on reshaping the utilities business model and changing the distribution tariff structure.
Metals
To top it all off, in 2015, natural gas surpassed coal in power production. According tothe EIA,
over the last five years, natural gas monthly share of the U.S. electricity generation has risen
from about 25% to 35%, while coals share has dropped from about 40% to 30%. In fact, the
same environmental agenda that is strangling the coal industry has been a positive impetus
for natural gas producers. Despite persistently low prices, natural gas production continues
and inventories have reached record levels. Although natural gas producers are taking a hit
on profitability due to the low market prices, high demand from power generators helps keep
them afloat.
Other
Data
Partners
Tariffs for the new type of power supply flow bidirectional - has been dealt with more affinity
in states with stronger solar power markets. Year 2015 witnessed multiple discussions on
different levels; however only two scenarios for net metering tariff were solidified in
7
Market
Analysis
December 2015 January 2016
Summary
Editorial
40-year oil export ban, and Iran joined the production party to bring even more hydrocarbons
to the world just to make sure that the oil glut will last a bit longer. So what will it bring us in
the future? Probably low prices will weed out producers with shallow pockets, oil production
dependent countries will attempt to diversify their portfolios and economies. At the same
time, the holders of short positions in oil and owners of oil storage facilities will likely have
many happy trips to their banks with data providers strolling along.
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Softs
Metals
Freight
Finance
Weather &
Emissions
Other
While the power industry has not produced

many new data reports in 2015, the
opportunities it has opened for new software
and data management providers are
unprecedented. The solutions are needed for
heretofore unknown volumes of data
collection, aggregation and completely new
types of analysis, tracking bidirectional
power flows, and a new model of billing. I am
almost sure that the IT industry will solidify
energy solutions as a separate branch,
similar to IT security, Business Intelligence,
or Enterprise Resource Planning.k
Coal
and responsibilities, whether it is removed or

more involved, officially define new
players in the market, such as aggregators
and microgrid operators, and so on.
Hopefully, federal regulators will finally
decide to take the lead and clear up the
uncertainty that has been pushing
jurisdictions in opposing directions creating
more regulatory and operational seams.
Nat Gas
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Petroleum
Data
Partners
Market
Analysis
Email: olga@ze.com
Editorial
The five-year tax credit extensions approved

by Congress at the end of the year guarantee
the continued growth of renewables into the
future. In 2016 and beyond, the industry will
have to come up with the solution on the new
tariff model with the properly identified cost
causation factors, redefine the utilities roles
Olga Gorstenko
Summary
With increasing volumes of off-grid

generation, utilities have been struggling
with deciding on what role to assume in
deploying distributed generators. While no
nation-wide regulatory base has been put in
place, states, the most affected by off-grid
generation, decided to take action on their
own. New York state directed utilities to take
a detached approach making them impartial
controllers of the grid; utilities are banned
from owning distributed generators.
California regulators decided that utilities
have to be more involved and fully engaged
in the deployment process and ensure that
distributed resources are deployed optimally
on the grid.
Editor-In-Chief
Editorial
Most utilities have been struggling with

decreased revenues challenged by losses
to distributed generation. Trying to recoup
them, they have been requesting that
regional regulators approve increases of
tariffs fixed charges. Such requests were
frequently rejected or sent back for revisions.
In year 2015, it became apparent that the
existing tariff structure is not viable; however,
no standard or unified balanced solution has
been identified on the federal level.
Editorial
regulations. In Hawaii, regulators ended

retail rate net metering for rooftop solar
arrays and replaced the program with two
options: a grid supply and a self supply.
In California, regulators preserved retail rates
with some changes, including a higher
interconnection fee and nonbypassablecharges.
Summary
Editorial
Power
Power
Petroleum
Nat Gas
Coal
Softs
EIA Offers Monthly Data on State-Level Small-scale

Solar PV Capacity and Generation
Metals
On December 1, 2015, the U.S. Energy Information Administration (EIA) began regular
reporting of monthly estimates of small-scale distributed solar photovoltaic (PV) electricity
generation and capacity by state and sector. Until now, EIA had provided monthly state-level
data only for utility-scale generation sources, including solar, but only annual national-level
generation and capacity estimates for small-scale solar PV.
Finance
Weather &
Emissions
Other
Data
Partners
EIAsElectric Power Monthly, which includes the new monthly estimates for small-scale
distributed solar PV from January 2014 through September 2015, can be found at:
http://www.eia.gov/electricity/monthly/
Freight
EIA estimates total U.S. solar generation was 3.5 million megawatthours in September 2015,
with 33% coming from small-scale solar PV and 67% from utility-scale solar. Overall U.S.
solar generation was equivalent to about 1% of the total reported electricity generation from
all utility-scale sources of 351 million megawatthours in September 2015. Almost 40% of
the distributed PV capacity in the United States is located in California. The next nine states
after California account for another 44% (see graphic). Other top states for small-scale PV
share some but not all of these factors. New Jersey, Massachusetts, and New York are among
the top distributed solar states because of significant state solar PV policies and incentives
despite having average to below-average solar resources. Other states, like Arizona, have
incentive programs and strong solar resources. Hawaii, despite having a small population,
has strong solar resources and high electricity prices, which make rooftop solar PV systems
economically attractive.
See the original announcement.

9
Market
Analysis
WKN
FUW1 - FUW5
UK Power Base Weekend Futures
FUB1 - FUB5
UK Power Base Week Futures
FUBM
UK Power Base Month Futures
FUBQ
UK Power Base Quarter Futures
FUBS
UK Power Base Season Futures
FUBY
UK Power Base Year Futures
FUP1 - FUP5
UK Power Peak Week Futures
FUPM
UK Power Peak Month Futures
FUPQ
UK Power Peak Quarter Futures
FUPS
UK Power Peak Season Futures
FUPY
UK Power Peak Year Futures
Softs
UK Power Base Day Futures
Coal
FU01 - FU34
Nat Gas
Name
Petroleum
Details
Short Code
Power
ISIN
Editorial
On November 16, 2015, EEX introduces financially settled UK Power Futures.

The new products will be settled against the APX Power UK Auction Price as underlying. The
following products will be launched:
Summary
Power
EEX Adds UK Power Futures
The market data on UK Power Futures will be integrated into the existing Info-Products
on Power End-of-Day data (EOD) and Delayed Data (DD).
Metals
Freight
ZEMA collects a range of European power market data, including over 30 reports from the EEX. These reports include
futures price and trading data. To learn more, visit http://www.ze.com/the-zema-solutions/.
ICE Launches New Power Contracts
Finance
Intercontinental Exchange (NYSE:ICE), announced the introduction of new

cash settled power contracts on December 14, 2015, subject to the satisfactory completion
of applicable regulatory processes. Contracts will be traded on ICE Futures U.S. and cleared at
ICE Clear Europe.
Weather &
Emissions
CAISO NP-15 Day-Ahead Off-Peak Mini Fixed Price Future

CAISO NP-15 Day-Ahead Peak Mini Fixed Price Future
Other
ERCOT Houston 345KV Real-Time Peak Mini Fixed Price Future

ERCOT North 345KV Day-Ahead Peak Daily 80 MWh Fixed Price Future
Option on ERCOT North 345KV Day-Ahead Peak Daily 80 MWh Fixed Price Future
Data
Partners
ERCOT North 345KV Real-Time Peak Mini Fixed Price Future

ERCOT South 345KV Real-Time Peak Mini Fixed Price Future
10
Market
Analysis
ISO New England Rhode Island Day-Ahead Off-Peak Fixed Price Future
MISO AMIL.BGS6 Day-Ahead Off-Peak Fixed Price Future
Power
MISO AMIL.BGS6 Day-Ahead Peak Fixed Price Future
Editorial
ISO New England Rhode Island Day-Ahead Peak Fixed Price Future
Summary
Power
ERCOT West 345KV Real-Time Peak Mini Fixed Price Future
NYISO NYC In-city Capacity Fixed Price Future
Petroleum
NYISO Rest of State Capacity Fixed Price Future

Palo Verde Day-Ahead Off-Peak Mini Fixed Price Future
Palo Verde Day-Ahead Peak Mini Fixed Price Future
Nat Gas
PJM AECO Zone Day-Ahead Off-Peak Daily Fixed Price Future

PJM AECO Zone Day-Ahead Peak Daily Fixed Price Future
PJM BGE Zone Day-Ahead Off-Peak Daily Fixed Price Future
Coal
PJM BGE Zone Day-Ahead Peak Daily Fixed Price Future

PJM ComEd Zone Day-Ahead Off-Peak Daily Fixed Price Future
Softs
PJM ComEd Zone Day-Ahead Peak Daily Fixed Price Future

PJM DEOK Zone Day-Ahead Off-Peak Daily Fixed Price Future
Metals
PJM DEOK Zone Day-Ahead Peak Daily Fixed Price Future

PJM METED Zone Day-Ahead Off-Peak Daily Fixed Price Future
PJM METED Zone Day-Ahead Peak Daily Fixed Price Future
Freight
PJM PECO Zone Day-Ahead Off-Peak Daily Fixed Price Future

PJM PECO Zone Day-Ahead Peak Daily Fixed Price Future
Finance
PJM PPL Zone Day-Ahead Off-Peak Daily Fixed Price Future

PJM PPL Zone Day-Ahead Peak Daily Fixed Price Future
Weather &
Emissions
PJM Western Hub Real-Time Peak 50MW Fixed Price Future

Option on PJM Western Hub Real-Time Peak 50 MW Fixed Price Future
Option on PJM Western Hub Day-Ahead Peak Daily Fixed Price Future
Other
See the contracts specifications.
11
Market
Analysis
Data
Partners
ZEMA is equipped with advanced data collection capabilities, and has the capacity to collect all data reports produced
for electricity industry. To learn more, visit http://www.ze.com/the-zema-solutions/.
Power
The spark spread indicators are based on Spanish AOC month-ahead gas and Spanish
month-ahead power assessments. Clean spark spread indicators include the cost of
emissions, calculated from the spark spreads and taking into account Platts EUA
emissions assessments.
Petroleum
Symbols for the Spanish spark spread indicators are as follows:

SPHMA00 - Spanish Month-Ahead Spark Spread 45% in Eur/MWh
Nat Gas
SPFMA00 - Spanish Month-Ahead Spark Spread 50% in Eur/MWh

SPGMA00 - Spanish Month-Ahead Clean Spark Spread 45% in Eur/MWh
Metals
Softs
The spark spread indicators are published on Platts European Power Alert page 829 and
Natural Gas Alert page 59, while the clean spark spread indicators are published on
European Power Alert page 827 and Natural Gas Alert page 60. All the Spanish spark spread
and clean spark spread indicators are also published in Platts European Power Daily and in
Platts Market Data category EM.
Coal
SPIMA00 - Spanish Month-Ahead Clean Spark Spread 50% in Eur/MWh
Freight
Nodal Exchange Launches New Generation Node Futures

for PJM and ISO-NE
On October 30, 2015, Nodal Exchange, LLC introduced 12 new power futures contracts
covering 5 generation nodes in PJM and 1 generation node in ISO-NE:
Finance
PJM Lakewood18 KVOCEAN C1

PJM Lakewood18 KVOCEAN C2
Weather &
Emissions
PJM Lakewood230 KVNUG LK

PJM Rockspri18 KVCT3
PJM Rockspri18 KVCT4
Other
ISO-NE UN.NEW_ENER18.0NEWE
These generation node locationsare available in monthly term contracts for both peak and
off-peak hours within the month and settle to Day Ahead LMP for 14 months forward.
Data
Partners
12
Market
Analysis
Editorial
Effective November 2, 2015, Platts has added Spanish spark spread and
clean spark spread indicators, calculated at 45% and 50% efficiency, to its European
power publications.
Summary
Power
Platts Adds Spanish Spark Spread Indicators
Power
SPPNORTH_HUB
SPPSOUTH_HUB
SPS_SPS
WAUE
WP_WR
SWPP
Nat Gas
Coal
MISO
OKGE.BALKO.WIND.1
OKGEKEENANWIND
OKGE_OKGE
RCEAST
SCSE
Petroleum
These are the first SPP futures contracts offered by Nodal Exchange and the first futures
contracts to be offered by any exchange on 16 of the 18 new locations. The new contract
locations are:
BLKW
EDDY
ERCOTE
ERCOTN
LAM345
MCWEST
Softs
Metals
NYMEX Delists PJM Electricity Option on

Calendar Futures Strip
Freight
On December 21, 2015, New York Mercantile Exchange, Inc. (NYMEX) delisted
the PJM Electricity Option on Calendar Futures Strip contract. The delisting of this
contract is a result of the prior announcement on December 31, 2014, that the last listed
contract month for this contract shall be January 2016.
Rule Chapter
Globex Code
Clearing Code
PJM Electricity Option on Calendar Futures Strip
354
A6O
6O
Weather &
Emissions
Contract
Finance
This contract was listed for trading on CME Globex and the NYMEX trading floor as well as for
submission for clearing via CME ClearPort.
Market
Analysis
13
Data
Partners
On December 15, 2015, the European Power Exchange EPEX SPOT announced
that it was designated by the national regulatory authorities as Nominated Electricity Market
Operator (NEMO) for the EU members states Germany, France, Great Britain, the Netherlands,
Austria, and Luxembourg.
Other
European Power Exchange Extends to More European Regions
Editorial
On December 2, 2016, Nodal Exchange, LLC introduced 40 new power futures

contracts to support trading in Southwest Power Pool (SPP). The new contract offerings are
based on 17 locations in SPP and one interface location between MISO and SPP.
Nodal Exchange will offer monthly term day-ahead on-peak and off-peak contracts for all of
these locations, as well as real time on-peak and off-peak contracts for the two SPP hubs
(North Hub and South Hub).
Summary
Power
Nodal Exchange Adds 40 Contracts for SPP Market
Nat Gas
Coal
Softs
Metals
NV Energy Joins the Western Energy Imbalance Market
Petroleum
Power
A NEMO designated in one member state can operate power spot markets in other European
countries, using its NEMO status as a passport. We are proud to be NEMO for Day-Ahead
and Intraday markets in all the countries we applied, says Jean-Franois Conil-Lacoste,
Chairman of the Management Board of EPEX SPOT. The CACM Regulation creates a new level
playing field for NEMOs in Europe. We welcome the opportunity to use the passport and
increased competition among NEMOs that comes with it. Competition will help triggering
innovation that best serves the needs of the market.
Editorial
NEMO is a new status Regulation which establishes a set of harmonized rules in particular for
Market Coupling, which allocates cross-border transmission capacity more efficiently by
combining it with energy transactions on power exchanges. The CACM Regulation provides
a new framework now clearly defining the tasks and obligations of the transmission system
operators and Power Exchanges designated as NEMOs. The new Europe-wide arrangements
under CACM will eventually replace the existing market coupling solutions. This process is
likely to take one to two years to complete.
Summary
Power
The EU Regulation establishing a guideline on Capacity Allocation and Congestion

Management (CACM), in force since 14 August 2015, obliges all EU member states to
officially designate an Electricity Market Operator for the Day-Ahead and Intraday markets
within four months. The decision by the Belgian national authority to designate a NEMO is
expected soon. Switzerland, also covered by EPEX SPOT but not being part of the European
Union, has not implemented the EU Regulation for the time being.
Freight
On December 1, 2015, the California Independent System Operator

Corporation (CaISO) and NV Energy announced the Nevada-based utility successfully
began participating in the western Energy Imbalance Market (EIM), the real-time
energy market.
Weather &
Emissions
Other
Puget Sound Energy of Washington state and Arizona Public Service, based in Phoenix,
Arizona, expect to begin participating in the EIM in October 2016. Portland General Electric is
scheduled to begin participation in October 2017.
Finance
With the addition of NV Energy, the EIM expands into Nevada, where the utility serves
2.4 million customers. PacifiCorps EIM participation serves customers in California,
Washington, Oregon, Idaho, Wyoming and Utah. The newly expanded marketplace enables
the ISO and participants to incorporate thousands of megawatts of variable generating
resources, such as wind and solar, into the power grid while reducing greenhouse emissions,
and improving grid resiliency and reliability.

Data
Partners
14
Market
Analysis
Summary
Editorial
Petroleum
Power
Petroleum
Nat Gas
Finance
Other
Data
Partners
Weather &
Emissions
Crude oil streams vary throughout the Lower 48 states. For example, production in California,
North Dakota, and Texas has significantly different characteristics. Most of Californias oil is
heavy, with more than 90% having an API gravity of 30 degrees or less. Oil produced in North
Dakota tends to be lightmore than 90% of production has an API gravity of 40.1 to
50 degrees. Texas has a broader distribution of crude oil quality, with most production ranging
from medium gravity oils to light oils.
The ZEMA graph on the next page demonstrates the trend of the U.S. Field Crude Oil
production since year 1980, as reported by EIA.
15
Market
Analysis
Freight
Slightly more than half of Lower 48 production during the nine months of 2015 had an API
gravity above 40 degrees. Production increases over the past several years in the Bakken,
Permian Basin, and Eagle Ford formations accounted for almost all of crude oil production
growth in the United States, and consist of light crude oil from low-permeability
(tight) formations.
Metals
Aggregated production volumes for the Lower 48 states are reported for 10 API gravity
categories that range from less than 20 degrees, to more than 55 degrees along with an
unknownornot reportedcategory. For individual states, four category breakouts of production
by API gravity are provided: less than or equal to 30 degrees, 30.1-40 degrees,
40.1-50 degrees, and greater than 50 degrees.
Softs
On November 30, 2015, the U.S. Energy Information Administration (EIA) started reporting
the API gravity for crude oil. The new data come from the recently-expanded EIA-914 survey
which tabulates production from oil and natural gas well operators. EIA surveys operators for
their production in 15 individual states and the federal offshore Gulf of Mexico. The results are
published in theMonthly Crude Oil and Natural Gas Production Report.
Coal
EIA Adds API Gravity to Monthly Reporting

of Crude Oil Production
Summary
Editorial
Petroleum
Graph created with ZEMA
Power
Petroleum
Nat Gas
Data Source: EIA
Coal
ICE Starts Trading New OPIS Futures

Starting December 14, 2015, ICE Futures Europe starts listing new
four OPIS contracts to be cleared at ICE Clear Europe:
Softs
Diesel Diff Group 3 ULSD (OPIS) vs Heating Oil 1st Line Future
Propane, OPIS Mt. Belvieu Other Non-TET Future
Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) Future
Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index (AFEI) Future
Other

cash settled oil contracts on December 14, 2015, subject to the satisfactory completion of
applicable regulatory processes. Contracts will be cleared at ICE Clear Europe.
Data
Partners
Crude Diff Argus LLS vs WTI 1st Line Balmo Future

Crude Diff Argus LLS vs WTI 1st Line Average Price Option
16
Market
Analysis
Weather &
Emissions
ICE Launches New Petroleum Contracts
Finance
Freight
ICEs addition of the new propane benchmarks into the international arena recognizes the
global reach of the OPIS Mont Belvieu benchmark and its relevance to global markets both in
Asia and in Europe.
Metals
The OPIS Group 3 numbers cited by ICE are made transparent on a daily basis via the OPIS
Full-Day Refined Spots Report but can also be tracked through the trading day with the OPIS
Spot Ticker, a real-time interactive price display. This pricing option will be instrumental for
Midwest oil refiners, traders, wholesalers, and end-users who want to buy, sell, trade or hedge
based off OPIS Group 3 spot prices.
Power
Petroleum
Nat Gas
Coal
Softs
Metals
Freight
NYMEX Lists Mini Argus Butane (Saudi Aramco) Futures
Weather &
Emissions
Effective December 7, 2015, and pending all relevant CFTC regulatory review
periods, New York Mercantile Exchange, Inc. (NYMEX) lists the Mini Argus Butane
(Saudi Aramco) Futures contract for trading on CME Globex, and for submission for clearing
through CME ClearPort. The contract specifications are as follows:
Finance
for oil industry. To learn more, visit http://www.ze.com/the-zema-solutions/.
Other
Mini Argus Butane (Saudi Aramco) Futures

MAA
916
CME Globex and CME ClearPort
Financial
100 metric tons
Data
Partners
17
Market
Analysis
Editorial
Contract Title
Commodity Code
Rulebook Chapter
Trading and Clearing Venues
Settlement Method
Contract Size
Summary
Petroleum
ICE WTI Crude Futures (CAD Denominated)

ICE WTI, American-Style Option (CAD Denominated)
Crude Outright WTI 1st Line Future (CAD Denominated)
Crude Outright WTI Average Price Option (CAD Denominated)
Crude Diff - Dated Brent (Platts) vs CPC Blend CIF Med Cargoes (Platts) Future
Fuel Oil Outright Fuel Oil 1% FOB Rotterdam Barges (Platts) Mini Future
Bitumen Outright Argus ABX 1 fob Singapore Bitumen Future
Bitumen Outright Argus ABX 2 fob South Korea Bitumen Future
Jet Fuel Outright Jet FOB MED Cargoes (Platts) Future
Gasoil Outright Gasoil 0.1% FOB ARA Barges (Platts) Mini Future
Gasoil Crack Low Sulphur Gasoil 1st Line vs Brent 1st Line Balmo Future (in MTs)
Jet Fuel Diff Singapore Jet Kerosene Cargoes (Platts) vs Low Sulphur Gasoil
1st Line Future (in Bbls)
Diesel Outright Gulf Coast Export ULSD (Platts) Future
Diesel Diff Group 3 ULSD (OPIS) vs Heating Oil 1st Line Future
Gasoline Crack RBOB Gasoline 1st Line vs Brent 1st Line Balmo Future (in Bbls)
Gasoline Diff RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam
Barges Balmo Future
Gasoline Outright - Premium Unleaded Gasoline 10ppm FOB Rotterdam Barges
(Platts) Balmo Future
Naphtha Outright Daily Naphtha CIF NWE Cargoes (Platts) Mini Future
Naphtha Crack - Naphtha CIF NWE Cargoes (Platts) vs Brent 1st Line Average Price
Option (in MTs)
Power
CME Starts Trading New DME Oil Products
Petroleum
by NYMEX. To learn more, visit http://www.ze.com/the-zema-solutions/.
Nat Gas
Clearing/ Globex SPAN SPAN Combined

Floor Code Code Code Commodity Code
Brent (Singapore Marker) vs. DME Oman Crude

Oil Futures
BDS
BDS
BDS
NY-BDS
Brent vs. Dubai (Platts) Crude Oil BALMO Futures
DHI
DHI
DHI
NY-DHI
Brent vs. Dubai (Platts) Crude Oil Futures
DBI
DBI
DBI
NY-DBI
DME Oman vs. Dubai (Platts) Crude Oil Futures
DDO
DDO
DDO
NY-DDO
Dubai Crude Oil (Platts) BALMO Futures
DDI
DDI
DDI
NY-DDI
Dubai Crude Oil (Platts) Futures
DCD
DCD
DCD
NY-DCD
DME Oman Crude Oil BALMO Futures
DDB
DDB
DDB
NY-DDB
DME Oman Crude Oil Calendar Futures
ODO
ODO
ODO
NY-ODO
Singapore Gasoil (Platts) vs. DME Oman Crude

Oil Futures
DDA
DDA
DDA
NY-DDA
Singapore Jet Kerosene (Platts) vs. DME Oman

Crude Oil Futures
DKR
DKR
DKR
NY-DKR
Singapore Mogas 92 Unleaded (Platts) vs. DME Oman

Crude Oil Futures
DDE
DDE
DDE
NY-DDE
Softs
Name
Coal
Effective December 7, 2015 CME starts trading DME crude oil and refined
futures. Monthly contracts will be listed for 36 consecutive months except for the BALMO
products which will be Monthly contracts listed for the current month and the next
2 consecutive months.
Metals
Freight
Finance
Weather &
Emissions
Other
Data
Partners
The ZEMA graph on the next page demonstrates the CME DME futures with various expiries,
between 2016 and 2020 traded over the last month period. Leverage ZEMAs sophisticated
analytical capacity to make the informed decision on trading and risk management.
18
Market
Analysis
Editorial
Monthly contracts listed for 12 consecutive months

$0.001/metric ton
$0.10
January 2016
5 contracts
Last business day of the month prior to the contract month
First in First Out (FIFO)
Summary
Petroleum
Listing Schedule
Minimum Price Fluctuation
Value per Tick
First Listed Contract
Block Trade Minimum Threshold
Termination of Trading
CME Globex Match Algorithm
Summary
Editorial
Petroleum
Power
Petroleum
Nat Gas
Data Source: CME
Coal
CME Lists New European Petroleum Crack Spread Futures
Softs
Effective November 15, 2015, and for trade date November 16, 2015,
and pending all relevant CFTC regulatory review periods, NYMEX lists four new
financial European Refined Crack Spread Futures for trading on CME Globex and
for submission of clearing via CME ClearPort.
Jet Fuel Cargoes CIF NWE (Platts) Crack Spread Futures
Contract Size
1000 U.S. barrels
Trading shall cease on the last business day of the contract month
$0.01 per barrel
Final Settlement Price Tick
$0.001 per barrel
First Listed Month
December 2015
Block Trade Minimum
10 contracts
CME Globex Match Algorithm
First in-First Out (FIFO - F)
Listing Convention
Monthly contracts listed for 24 consecutive months.
Weather &
Emissions
Financial
Finance
Settlement type
Freight
JFC
Metals
Commodity Code
JFB
Settlement type
Financial
Contract Size
1000 U.S barrels
19
Market
Analysis
Data
Partners
Commodity Code
Other
Jet Fuel Cargoes CIF NWE (Platts) Crack Spread BALMO Futures
$0.001 per barrel
First Listed Month
December 2015
Block Trade Minimum
10 contracts
Editorial
Summary
$0.01 per barrel
Petroleum
CME Globex Match Algorithm First in-First Out (FIFO - F)

Power
Listing Convention
Monthly contracts listed for the current month and the following month
listed 10 Business Days prior to the start of the contract month.
Financial
Contract Size
1000 U.S barrels
$0.001 per barrel
$0.001 per barrel
First Listed Month
December 2015
Block Trade Minimum
10 contracts
Softs
Settlement type
Coal
ESB
Nat Gas
Commodity Code
Petroleum
European Low Sulphur Gasoil Brent Crack Spread BALMO Futures
CME Globex Match Algorithm First in-First Out (FIFO -F)

Listing Convention
Metals
listed 10 Business Days prior to the start of the contract
Low Sulphur Gasoil Crack Spread (1000mt) BALMO Financial Futures

Financial
Contract Size
7450 U.S barrels (1,000mt).
$0.001 per barrel
$0.001 per barrel
First Listed Month
December 2015
Block Trade Minimum
5 contracts
Weather &
Emissions
Settlement type
Finance
ESS
Freight
Commodity Code
CME Globex Match Algorithm First in-First Out (FIFO - F)

Other
Listing Convention
listed 10 Business Days prior to the start of the contract month.
by CME. To learn more, visit http://www.ze.com/the-zema-solutions/
20
Market
Analysis
Data
Partners
Summary
Editorial
Petroleum
Power
Petroleum
Argus Adds European Refined Products

Effective November 5, 2015, Argus launches new European refined products:
182
ICE Gasoil futures (London close)
183
Refined products Europe fixed price
184
Refined products Europe differential
Coal
Description
Nat Gas
Product ID
The following new markets have been added to support this data:
Jet fuel NWE
292
Gasoil NWE
294
Naphtha NWE
296
Fuel oil HS cargo NWE
297
Fuel oil LS NWE
Freight
291
Metals
Description
Softs
Market ID
Finance
ZEMA collects a range of Argus petroleum products data. To receive a complimentary ZEMA demonstration,
visit http://www.ze.com/book-a-demo/.
Weather &
Emissions
Argus Adds Asia-Pacific Refined Products Forward Curves

Effective November 6, 2015, Argus launches new Asia-Pacific refined markets:
Description
313
Fuel oil HS 380 cst Japan
314
Fuel oil HS 380 cst South Korea
Other
Market ID
Data
Partners

To learn more about refined markets with ZEMA, book a complimentary ZEMA demonstration at
http://www.ze.com/book-a-demo/
21
Market
Analysis
Power
In Eastern Mexico, an assessment on a CIF Tuxpan basis for ULSD and the RBOB gasoline
blend designated for use in Mexico City meeting the countrys specifications, delivering 7 to
21 days forward in parcels of 250,000 to 350,000 barrels, priced in US dollars per barrel.
Editorial
Platts is proposing a number of new assessments for Latin America with effect from
February 1, 2016.
Summary
Petroleum
Platts to Start New Latin American Refined Products Assessments
Petroleum
In Colombia, an assessment on a DES Colombia basis for diluent naphtha meeting

Ecopetrols specifications, delivering 15 to 30 days forward in parcels of 170,000 to
180,000 barrels, priced in US dollars per barrel.
Nat Gas
In Ecuador, assessing ULSD and RON 93 gasoline on a CIF Esmeraldas basis, an

assessment meeting Petroecuadors specifications, delivering 15 to 30 days forward in
parcels of 200,000 to 300,000 barrels, priced in US dollars per barrel.
Coal
In Peru, assessing ULSD on a CIF Peru basis meeting Petroperus specifications, delivering
15 to 30 days forward in parcels of 250,000 to 350,000 barrels, priced in US dollars per
barrel. Also assessment of natural gasoline on a FOB Pisco basis, loading 7 to 21 days
forward in parcels of 300,000 barrels.
Softs
In Argentina, an assessment for ULSD meeting YPFs specification on a CIF La Plata basis
delivering 15 to 30 days forward in parcels of 250,000 to 350,000 barrels, priced in
US dollars per barrel.
For all these assessments, Platts would publish outright values reflecting a 2:15 Houston
timestamp. In the absence of firm bids, offers or trades for these specific commodities Platts
will analyze spread differentials to related markets such as US Gulf Coast products.
Metals
Freight
Finance
To learn more about refined products prices anywhere in the world with ZEMA, book a complimentary ZEMA
demonstration at http://www.ze.com/book-a-demo/.
Argus Adds Durban Jet Fuel Series

Price
type
PA0018005
PA0018005
PA0018005
Description
Unit
Jet/kerosine c+f
USD/bl
Durban
Jet/kerosine c+f
USD/bl
Durban
Jet/kerosine c+f
USD/bl
Durban
Category
->Products->Jet->Africa
Data
Partners
Time
stamp
Other
PA-code
Weather &
Emissions
Effective November 9, 2015, Argus launches new daily Jet Fuel series:
22
Market
Analysis
18
PA0018088
19
PA0018089
18
PA0018089
19
PA0018090
18
PA0018090
19
PA0018091
18
PA0018091
19
PA0018092
18
PA0018092
19
PA0018093
18
PA0018093
19
PA0018094
18
PA0018094
19
PA0018095
18
PA0018095
19
23
Market
Analysis
Data
Partners
PA0018088
Other
19
Weather &
Emissions
PA0018087
Finance
18
Freight
PA0018087
Metals
19
Softs
PA0018086
->Crude->Refinery
Netback->North Europe
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
Netback->Asia-Pacific
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
Netback->North America
->Crude->Refinery
->Crude->Refinery Netback->North America
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
->Crude->Refinery
Coal
18
Category
Nat Gas
PA0018086
Continuous
Description
forward
Es Sider NWE complex yield
1
netback average month
Es Sider NWE complex yield
1
Es Sider NWE simple yield netback
1
average month
Es Sider NWE simple yield netback
1
average month
Dubai Singapore complex yield
1
1
Dubai Singapore simple yield
1
1
Iran Heavy Singapore complex
1
yield netback average month
1
Iran Heavy Singapore simple yield
1
Iran Heavy Singapore simple yield
1
Oriente implied fob USWC complex
1
Oriente implied fob USWC complex
1
Oriente USWC complex yield
1
1
Oriente USWC simple yield
1
Oriente USWC simple yield
1
ANS USWC complex yield netback
1
average month
ANS USWC complex yield netback
1
average month
Petroleum
Price
type
Power
PA-code
Editorial
Effective December 31, 2015, Argus publishes new monthly series in the
Argus Crude module. This data will appear in the DHC (not the DLC) files in the /DCRDEUS
(not /DCRDEEU) folder on ftp.argusmedia.com server.
Summary
Petroleum
Argus Adds New Series to the European and Asian Crude
18
PA0018096
19
Category
->Crude->Refinery
->Crude->Refinery
Power
Argus Adds New Series to the European Crude
PA0018160 6
PA0018160 6
PA0018160 6
Category
->Crude->
Mediterranean
->Crude->
Mediterranean
->Crude->
Mediterranean
->Crude->
Mediterranean
Softs
Differential
basis
North Sea
Dated
North Sea
Dated
North Sea
Dated
North Sea
Dated
Coal
PA0018160 6
Continuous
Description
forward
Basrah Heavy cif
0
Augusta
Basrah Heavy cif
0
Augusta
Basrah Heavy cif
0
Augusta
Basrah Heavy cif
0
Augusta
Nat Gas
Time Price
stamp type
Petroleum
Effective December 21, 2015, Argus publishes new daily

series in the Argus European Crude module:
PA-code
Editorial
PA0018096
Continuous
Description
forward
ANS USWC simple yield netback
1
average month
ANS USWC simple yield netback
1
average month
Summary
Price
type
Petroleum
PA-code
Metals
ZEMA collects a range of Argus crude oil and petroleum products data. To learn more, visit
http://www.ze.com/the-zema-solutions/.
Argus Adds New Series to the US Petroleum Series
PA0017832
PA0017836
No unit ->Products->Gasoline->RVP
24
Market
Analysis
Data
Partners
PA0017835
Category
Other
PA0017834
Differential
Unit
basis
Weather &
Emissions
PA0017833
Price
Description
type
RVP value gasoline reg RBOB
8
NYH barge fob prompt
transition supp
RVP value gasoline reg RBOB
8
Buckeye pipe fob prompt
transition supp
RVP value gasoline prem
8
RBOB NYH barge fob prompt
transition supp
8
RBOB Buckeye pipe del
prompt transition supp
RVP value gasoline reg CBOB
8
NYH barge fob prompt
transition supp
Finance
PA-code
Freight
Effective October 23, 2015, Argus publishes new supplemental daily

series in the Argus US Products data module:
PA0017840
PA0017842
USC/
USG
->Products->Gasoline->US
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
25
Market
Analysis
east coast
Data
Partners
PA0017842
USC/
USG
Other
PA0017842
east coast
Weather &
Emissions
PA0017842
USC/
USG
Finance
PA0017841
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Freight
PA0017841
Metals
PA0017841
Softs
PA0017841
Coal
PA0017840
Nat Gas
PA0017840
Petroleum
PA0017840
Power
PA0017839
Category
Editorial
PA0017838
Differential
Unit
basis
Summary
PA0017837
Price
Description
type
8
CBOB NYH barge fob prompt
transition supp
RVP value gasoline reg CBOB
8
transition supp
8
CBOB Buckeye pipe fob
prompt transition supp
Gasoline reg RBOB NYH
1
barge fob prompt transition
supp
2
supp
6
supp
7
supp
Gasoline reg RBOB Buckeye
1
pipe fob prompt transition
supp
2
supp
6
supp
7
supp
Gasoline prem RBOB NYH
1
supp
2
supp
6
supp
7
supp
Petroleum
PA-code
PA0017844
PA0017845
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
26
Market
Analysis
east coast
Data
Partners
PA0017846
USC/
USG
Other
PA0017846
east coast
Weather &
Emissions
PA0017846
USC/
USG
Finance
PA0017845
east coast
Freight
PA0017845
USC/
USG
Metals
PA0017845
east coast
Softs
PA0017844
USC/
USG
Coal
PA0017844
east coast
Nat Gas
PA0017844
USC/
USG
Petroleum
PA0017843
Category
Power
PA0017843
Unit
Editorial
PA0017843
Differential
basis
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Summary
PA0017843
Price
Description
type
Gasoline prem RBOB
1
Buckeye pipe del prompt
transition supp
Gasoline prem RBOB
2
transition supp
Gasoline prem RBOB
6
transition supp
Gasoline prem RBOB
7
transition supp
Gasoline reg CBOB NYH
1
supp
2
supp
6
supp
7
supp
Gasoline prem CBOB NYH
1
supp
2
supp
6
supp
7
supp
Gasoline reg CBOB Buckeye
1
supp
2
supp
6
supp
Petroleum
PA-code
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
USC/
USG
east coast
Nat Gas
PA0017847
Nymex
Gasoline
RBOB
USC/
USG
Petroleum
PA0017847
Category
Power
PA0017847
Unit
Coal
Softs
Argus Adds New Petroleum Dubai Intermonth Series

Effective October 26, 2015, Argus publishes new daily crude series in the
Argus European Crude and the Argus Asia & Midday European crude data modules.
Price
type
Continuous
Description
forward
Diff
Unit
basis
Metals
PA-code
Editorial
PA0017847
Differential
basis
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Nymex
Gasoline
RBOB
Summary
PA0017846
Price
Description
type
7
supp
Gasoline prem CBOB
1
transition supp
Gasoline prem CBOB
2
transition supp
Gasoline prem CBOB
6
transition supp
Gasoline prem CBOB
2
transition supp
Petroleum
PA-code
Category
Dubai intermonth
month1/month2
USD/bl ->Crude->Mideast Gulf
PA0017905 8
Dubai intermonth
month2/month3
PA0017906 8
Dubai intermonth
month3/month4
Finance
Freight
PA0017904 8
Weather &
Emissions
To learn more about petroleum prices worldwide use ZEMA to view reports from Argus. To book a complimentary ZEMA
demonstration, visit http://www.ze.com/book-a-demo/
Other
Data
Partners
27
Market
Analysis
Time
Price
stamp type
PA0014737
PA0014738
Description
Unit
USD/bl ->Crude->Asia-Pacific->Other
USD/bl ->Crude->Asia-Pacific->Other
Petroleum
Argus condensate index

Qatar DFC component
Argus condensate index
North West Shelf
condensate component
Category
Power
PA-code
Nat Gas
ZEMA collects a range of Argus petroleum data, including data from the European Crude (Spot Prices) report and the
Argus Crude report. To learn more, visit http://www.ze.com/the-zema-solutions/
Argus Adds Marine Fuel for Taiwan Series
PA0018022
PA0018024
PA0018026
PA0018028
PA0018031
USD/t ->Products->Fuel oil->Asia-Pacific

28
Market
Analysis
Data
Partners
PA0018030
Other
PA0018029
Weather &
Emissions
PA0018027
Finance
PA0018025
Freight
PA0018023
Category
Metals
PA0018021
Fuel oil bunker HS 380 cst del

Hualien-Suao CPC posted spot day
Fuel oil bunker HS 380 cst del Keelung
CPC posted spot day
Fuel oil bunker HS 380 cst del Taichung
CPC posted spot day
Fuel oil bunker HS 380 cst del Kaohsiung
CPC posted spot day
Hualien-Suao CPC posted contract day
CPC posted contract day
Hualien-Suao CPC posted spot day
CPC posted spot day
CPC posted spot day
CPC posted spot day
Unit
Softs
PA0018020
Description
Coal
Argus is adding CPC Corporation, Taiwan daily posted prices to

Argus Marine Fuels effective 01 December 2015:
PA-code
Editorial
On October 28, 2015, Argus commences two daily series in the Argus crude:
Summary
Petroleum
Argus Adds Condensate Indexes for Qatar and North West Shelf
PA0018035
PA0018037

Coal
Argus Adds Netback Series

Effective December 1, 2015, Argus starts publishing new daily crude series:
PA-code
PA0014863 18
PA0018045 18
PA0018046 18
PA0018047 18
PA0018048 18
PA0018049 18
->Crude->Refinery Netback->Asia-Pacific
29
Market
Analysis
Data
Partners
PA0018049 19
->Crude->Refinery Netback->North Europe
Other
PA0018048 19
Weather &
Emissions
PA0018047 19
Finance
PA0018046 19
Freight
PA0018045 19
Es Sider NWE complex yield daily

netback
Es Sider NWE complex yield daily
netback
Es Sider NWE simple yield daily
netback
Es Sider NWE simple yield daily
netback
daily netback
daily netback
daily netback
daily netback
Iran Heavy Singapore simple
yield daily netback
Iran Heavy Singapore simple
yield daily netback
yield daily netback
yield daily netback
Category
Metals
PA0014863 19
Description
Softs
Price
type
Nat Gas
->Products->Gasoil/Diesel/Heating
oil->Asia-Pacific
->Products->Gasoil/Diesel/Heating
USD/t
oil->Asia-Pacific
USD/t
Petroleum
PA0018036
Power
PA0018034
Category
Editorial
PA0018033

Hualien-Suao CPC posted contract day
Gasoil bunker del Taiwan CPC posted
spot day
Gasoil bunker del Taiwan CPC posted
contract day
Unit
Summary
PA0018032
Description
Petroleum
PA-code
PA0018082 18
PA0018083 18
PA0018084 18
PA0018085 18
Coal
PA0018085 19
Nat Gas
PA0018084 19
->Crude->Refinery Netback->
North America
North America
North America
North America
North America
North America
North America
North America
North America
Petroleum
PA0018083 19
Oriente implied fob USWC

complex yield daily netback
Oriente USWC simple yield daily
netback
Oriente USWC simple yield daily
netback
daily netback
daily netback
ANS USWC simple yield daily
netback
ANS USWC simple yield daily
netback
ANS USWC complex yield daily
netback
ANS USWC complex yield daily
netback
Power
PA0018082 19
Category
Editorial
PA0018081 18
Description
Summary
Price
type
Petroleum
PA-code

Softs
To learn more about refines products prices in Europe, Asia, and the U.S., use ZEMA to view these data reports
and analysis. To book a complimentary ZEMA demonstration, visit http://www.ze.com/book-a-demo/
Metals
Argus Introduces West Africa Fuel Oil Series
Description
Category
PA0016984
Asaramatoru
->Crude->West Africa
PA0016984
Asaramatoru
PA0016985
Eremor
PA0016985
Eremor
PA0016986
Doba
PA0016986
Doba
Other
Continuous forward
Weather &
Emissions
Price type
Finance
PA-code
Freight
Effective December 1, 2015, Argus introduces new daily West Aftrica

Fuel Oil series. This data will appear in the DWAFO files in the /DWAFO folder on
ftp.argusmedia.com server.

Data
Partners
30
Market
Analysis
PA0017907
Bitumen fca Pavlodar
USD/t
PA0017907
Bitumen fca Pavlodar
USD/t
PA0017908
Bitumen fca Almaty
USD/t
PA0017908
Bitumen fca Almaty
USD/t
PA0017909
Bitumen fca Chimkent
USD/t
PA0017909
Bitumen fca Chimkent
USD/t
PA0017910
Bitumen fca Aktau
USD/t
PA0017910
Bitumen fca Aktau
USD/t
Category
->Asphalt->
Russia-Caspian
->Asphalt->
Russia-Caspian
->Asphalt->
Russia-Caspian
->Asphalt->
Russia-Caspian
->Asphalt->
Russia-Caspian
->Asphalt->
Russia-Caspian
->Asphalt->
Russia-Caspian
->Asphalt->
Russia-Caspian
Coal
Unit
Nat Gas
Price Continuous
Description
type forward
Petroleum
Time
stamp
Power
PA-code
Editorial
Effective November 2, 2015, Argus starts publishing new monthly assessments for
Bitumen grade BND 70/100, BND 100/130 on fca basis in Caspian region:
Summary
Petroleum
Argus Adds Bitumen Assessments for Caspian Region
Softs
Metals
ZEMA collects a range of Argus petroleum data. To learn more, visit http://www.ze.com/the-zema-solutions/
Weather &
Emissions
This reflects the continued evolution of the market increasingly demonstrates distinct values
emerging for Dubais physical and derivative markets. Effective December 1, 2015, Platts
amends its methodology for assessing Dubai derivatives, and gives clear priority in those
assessments to the value of Dubai derivatives that are fully demonstrated in the
derivatives market.
Finance
Effective December 1, 2015, Platts begins assessing Dubai crude derivatives independently
of physical Dubai assessments. Platts also begins assessing Oman derivatives independently
of physical Oman assessments with effect from December 1, 2015.
Freight
Platts to Assess Dubai Derivatives Independent

of Physical Market

Other
Platts to Launch Busan, Colombo Bunker Assessments
The new assessments will reflect specifications conforming to ISO 8217: 2005. The 380 CST
and 180 CST delivered bunker assessments will reflect material that generally conforms to
31
Market
Analysis
Data
Partners
Platts will launch assessments for 380 CST and 180 CST bunker fuel and Marine Gasoil
in South Koreas Busan port and Sri Lankas Colombo port with effect from January 4, 2016.
The Canary Islands MGO assessment will reflect material with a maximum sulfur content
of 0.1%.
Metals
The Offshore Nigeria MGO assessment will reflect material with a maximum sulfur content
of 1.5%.
Finance
Freight
Specification and assessment parameters will be detailed in Platts Europe and Africa Refined
Oil Products Methodology and Specifications Guide. The new assessments will reflect material
for delivery 1-8 days forward. The new Canary Islands assessments will typically be assessed
at parity to Platts existing Las Palmas/Tenerife assessments.
Weather &
Emissions
To receive up-to-date petroleum price data, utilize ZEMA, ZEs enterprise data management solution. ZEMA collects
many Platts petroleum products reports. To learn more, visit http://www.ze.com/the-zema-solutions/data/.
Platts to Launch Panama Canal, Santos Bunker Prices
Other
With effect from January 4, 2016, Platts will launch assessments for 380 CST and
180 CST bunker fuel and marine gasoil in the Panama Canal and Santos, Brazil. The new
assessments would reflect specifications conforming to ISO 8217:2005.
Market
Analysis
32
Data
Partners
The 380 CST and 180 CST assessments would reflect material with a maximum sulfur
content of 3.5%. The MGO assessments would reflect material with a maximum sulfur content
of 0.1%.
Softs
The 380 CST and 180 CST assessments will reflect material with a maximum sulfur content
of 3.5%.
Coal
Starting January 4, 2016, Platts launches assessments for 380 CST and
180 CST bunker fuel and marine gasoil (MGO) in Offshore Nigeria and the Canary Islands. The
new assessments will reflect specifications conforming to ISO 8217:2005.
Nat Gas
Platts Launches Nigeria, Canary Islands Bunker Assessments
Petroleum
by Platts. To learn more, visit http://www.ze.com/the-zema-solutions/.
Power
Editorial
The new Busan assessment will typically be assessed at parity to Platts existing South Korean
assessments. Platts expects to publish these new assessments in Bunkerwire and Marine
Alert, with pages and market database symbols to be announced in due course.
Summary
The new assessments will reflect material for delivery at port 3-7 days from the day of
publication, and for deliveries of 500-1,500 mt for 380 CST and 180 CST bunker fuel, and
minimum 50 mt for MGO.
Petroleum
that for RMG 380 and RME 180, and the MGO assessment will reflect material that conforms
with that for DMA.
Editorial
Power
Petroleum
Platts expects to publish these new assessments in Bunkerwire and Marine Alert, with pages
and market database symbols to be announced in due course.
Summary
Typically, the values for these products in these ports on either side of the canal are the same.
On those occasions when one port is valued differently than the other port, the Panama Canal
assessment would reflect the lower value. In line with this, Platts will discontinue the
publication of the Petrobras posted price for Santos bunker fuels with effect from
April 1, 2016.
Petroleum
The new assessments would reflect material for delivery 3-7 days forward. Platts currently
assesses 380 3.5%S, 180 3.5%S and MGO on an ex-wharf basis in the Panamanian ports of
Balboa and Cristobal, which will serve as the basis for the new Panama Canal assessment.
Nat Gas
by Platts. To learn more, visit http://www.ze.com/the-zema-solutions/.
Platts Starts Asia Benzene CFR China Assessments

Coal
Platts starts CFR China benzene price assessments on a daily basis with
effect from November 27, 2015.
The proposed assessment methodology for the CFR China assessment basis is as follows:
Softs
Metals
Assessment window: Daily assessments CFR China (CFR China LC 90 days) based on latest
information sourced from the market up to close of the assessment window at 4:30 pm
Singapore time (0830 GMT).
Timing: Cargoes for delivery 20-40 days forward from date of publication.
Freight
Basis and locations: CFR China: Caojing; Ningbo; Jiangyin, Changzhou, Taizhou,
Zhangjiagang.
Cargo size: 3,000 mt
Finance
Terms and conditions: LC 90 days credit terms

Quality specification: ASTM D-2359
33
Market
Analysis
Data
Partners
Grane is 36.66% owned by Statoil, 28.94% Petoro, 28.22% ExxonMobil and 6.17%
ConocoPhillips. Grane production prior to the startup of Edvard Grieg was around 75,000 b/d
of oil equivalent.
Other
Effective April 1, 2016, Platts plans to begin assessing the North Sea
crude oil known as Grane Blend. Following upstream developments tied back
to the Granes existing infrastructure, the grades volume and quality are both in the process of
changing. The resulting grade will be composed of the existing Grane crude oil and
Edvard Grieg crude oil.
Weather &
Emissions
Platts to Begin Assessing North Sea Crude Grane Blend
Power
The ZEMA graph below demonstrates other oil benchmarks, Brent and WTI analyzed in ZEMA
over the two year period. Contact us to learn how ZEMA can support your analytical needs at
http://www.ze.com/contact-us/ .
Editorial
Summary
Petroleum
Edvard Grieg is 50% owned by Lundin (operator), 20% OMV, 15% Wintershall and
15% Statoil. Plateau production is expected to be around 100,000 boe/d.
Petroleum
Nat Gas
Coal
Softs
Data Source: NYMEX

Metals
Platts Launches Full Calendar Month

Russian Domestic Crude Netbacks
Beginning January 4, 2016, Platts launches a series of new Russian domestic crude netbacks
which reflect the Russian crude export duty on the basis of a calendar month.
Freight
Platts will be publishing netback values for Urals crude oil, FIP at the Surgut supply point in
Western Siberia, as well as netback values for 10 other delivery points inside Russia based on
the pipeline tariff differential versus Surgut.
Finance
Weather &
Emissions
In addition to the Surgut netback, Platts will publish netback values for Moscow,
Nizhnevartovsk, Samara, Volgograd, Novorossiisk, Nizhniy Novgorod, Ryazan, Ufa, Yaroslavl
and Primorsk.
Other
The primary Surgut netback value will be derived by subtracting local transportation and
trans-shipment costs as per the existing netback, but the export duty will be applied over the
course of the corresponding calendar month.
34
Market
Analysis
Data
Partners
The existing crude netback assessments will be relabeled to Mid-month export duty applied
under the existing header of Russian domestic crude oil assessments and netbacks
(Rb/mt). Platts will label the new calendar month netback assessments as Full calendar
ZEMA collects a range of Platts petroleum data. To receive a complimentary ZEMA demonstration,
visit http://www.ze.com/book-a-demo/.
Power
Platts Launches New Latin American

Refined Products Assessments
Petroleum
Effective February 1, 2016, Platts launches several new assessments for

Latin America to reflect significant changes in trade, import and export flows for
different refined products in recent years.
Nat Gas
In Eastern Mexico, new assessments will be on a CIF Tuxpan basis for ULSD and the RBOB
gasoline blend designated for use in Mexico City meeting the countrys specifications,
delivering 7-21 days forward in parcels of 250,000-350,000 barrels, priced in
US dollars/barrel.
Coal
In Colombia, Platts will add an assessment on a DES Colombia basis for diluent naphtha
meeting Ecopetrols specifications, delivering 15-30 days forward in parcels of
170,000-180,000 barrels, priced in US dollars/barrel.
Finance
On December 21, 2015, New York Mercantile Exchange, Inc.

(NYMEX) delisted the three energy variance futures contracts as described in the table below.
WTI Crude Oil Realized Variance Futures
1230
VBY; VBQ; VBS
Brent Crude Oil Realized Variance Futures
1231
VNA; VNQ; VNS
Natural Gas Realized Variance Futures
1232
Data
Partners
VLA; VLR; VLS
Other
NYMEX Rulebook Chapter
Weather &
Emissions
NYMEX Delists Three Energy Variance Futures
Commodity Code Contract Title
Freight
In Argentina, Platts will add an assessment for ULSD meeting YPFs specification on a CIF La
Plata basis delivering 15-30 days forward in parcels of 250,000-350,000 barrels, priced in
US dollars/barrel.
Metals
In Peru, Platts will assess ULSD on a CIF Peru basis meeting Petroperus specifications,
delivering 15-30 days forward in parcels of 250,000-350,000 barrels, priced in US dollars/
barrel. Platts will also assess natural gasoline on a FOB Pisco basis, loading 7-21 days
forward in parcels of 300,000 barrels.
Softs
In Ecuador, Platts will assess ULSD and RON 93 gasoline on a CIF Esmeraldas basis, meeting
Petroecuadors specifications, delivering 15-30 days forward in parcels of
200,000-300,000 barrels, priced in US dollars/barrel.
35
Market
Analysis
Editorial
Summary
Petroleum
month export duty applied under the same existing header of Russian domestic crude oil
assessments and netbacks (Rb/mt).
NYMEX Delists Contract Months for

Seven Gulf Coast Fuel Oil Futures and Options
Power
Code
Contract Title
Jan-2019 to
Feb-2020
52 consecutive
months
All consecutive months

52 consecutive
through and including
months
December 2018
Jan-2018 to
Oct-2018
36 consecutive
months

36 consecutive
months
December 2017
Jan-2018 to
Oct-2018
36 consecutive
months

36 consecutive
months
December 2017
Jan-2017 to
Oct-2018
36 consecutive
months

36 consecutive
months
December 2016
Jan-2017 to
Oct-2018
36 consecutive
months

36 consecutive
months
December 2016
Coal
Current Listing
Suspended Listing
Schedule
Schedule
(CME ClearPort)
Nat Gas
Softs
Metals
Freight
Finance
Weather &
Emissions
Other
Gulf Coast
No. 6 Fuel Oil
MF /MFB
3.0% (Platts)
Futures
Gulf Coast
No. 6 Fuel Oil
3.0% (Platts)
vs. European
GCU /
GCU
3.5% Fuel Oil
Barges FOB
Rdam (Platts)
Futures
Gulf Coast
No. 6 Fuel Oil
MG /
(Platts) Crack
MGH
Spread
Futures
NY 1% Fuel
Oil (Platts) vs.
VR /VR Gulf Coast 3%
Fuel Oil (Platts)
Futures
Gulf Coast
No.6 Fuel Oil
3.0% (Platts)
GCI /GCI
Brent Crack
Spread
Futures
Current Listing
Schedule
(CME Globex)
Petroleum
On October 23, 2015, New York Mercantile Exchange (NYMEX) delisted

previously-listed contract months for Gulf Coast Fuel Oil futures and options contracts as
described below. There was no open interest in these contract months. Effective
November 9, 2015, NYMEX suspends listing new contract months in the affected products.
Delisted
Contract
Months
Editorial
Summary
Petroleum
The contracts were delisted from trading on CME Globex and for submission for clearing via
CME ClearPort. There was no open interest in these contracts.
Data
Partners
36
Market
Analysis
All consecutive month

36 consecutive
months
December 2016
Jan-2017Feb 2020
12 consecutive
months

52 consecutive
months
December 2016
Petroleum
36 consecutive
months
Power
Jan-2017 to
Oct-2018
Editorial
NY 3.0% Fuel
Oil (Platts) vs.
FOC /
Gulf Coast
FOC
No. 6 Fuel Oil
3.0% (Platts)
Futures
Gulf Coast
No. 6 Fuel Oil
FG /AFG 3.0% (Platts)
Average Price
Options
Current Listing
Suspended Listing
Schedule
Schedule
(CME ClearPort)
Summary
Contract Title
Current Listing
Schedule
(CME Globex)
Petroleum
Code
Delisted
Contract
Months
Nat Gas
Argus Stops Several China Petroleum Price Types
PA5001393
PA5001393
Differential
Unit
basis
Dubai-Brent EFS month 1

Dubai
weekly avg
Dubai-Brent EFS month 1
Dubai
weekly avg
Category
Frequency
->Crude->
Weekly
Mideast Gulf
->Crude->
USD/bl
Weekly
Mideast Gulf
USD/bl
Metals
Price type Description
Softs
PA-code
Coal
Effective October 26, 2015, Argus is stopping the following price types: 6 and 7 for
PA5001393, which have been in circulation since December 06, 2012:

Freight
Argus Discontinues Several Australian Crude Price Types
Description
PA0005474
Stybarrow
PA0005474
Stybarrow
PA0005474
Stybarrow
PA0005474
Stybarrow
PA0005474
Stybarrow
Category
->Crude->Asia-Pacific->Australia
37
Market
Analysis
Differential
basis
North Sea
Dated
North Sea
Dated
North Sea
Dated
North Sea
Dated
North Sea
Dated
Data
Partners
Price
type
Other
Time
stamp
Weather &
Emissions
PA-code
Finance
Effective December 4, 2015, Argus stops several daily reports from the
European Crude data DLC module in the DCRDEEU folder on ftp.argusmedia.com,
which have been in circulation since August, 01, 2008.
Description
PA0005474
Stybarrow
PA0005474
Stybarrow
Differential
Category
basis
North Sea
Dated
North Sea
Dated
Power
Petroleum
NYMEX Amends Contracts for DME Oman

Crude and Gulf Coast Gasoline
Prices quoted in dollars

and cents per barrel.
1101
The price for each contract

month is arithmetic
average of the mid-point
of the high and low
quotations.

month is arithmetic
average of the volume
weighted average
quotations.
1102

month is arithmetic
average of the mid-point
of the high and low
quotations.

month is arithmetic
average of the volume
weighted average
quotations.
Freight
Gulf Coast Unl 87

Gasoline M2 (Argus)
Futures
Prices quoted in dollars

and cents per gallon.
Metals
UGG
Gulf Coast Unl 87

Gasoline M2 (Argus) vs.
RBOB Gasoline Futures
131
Softs
RBG
DME Oman Crude Oil

Average Price Option
New Description
Coal
DOA
Rule
Current Description
Chapter
Nat Gas
Effective December 1, 2015, and pending all relevant CFTC regulatory review periods,
New York Mercantile Exchange, Inc. (NYMEX) makes the following amendments to the terms
and conditions of the petroleum contracts:
Clearing
Contract Name
Code
Editorial
Price
type
Summary
Time
stamp
Petroleum
PA-code

Finance
Platts Ends US CGP Assessments
Weather &
Emissions
Effective November 6, 2015, Platts discontinues its weekly US chemical

grade propylene spot assessments due to a lack of liquidity in the market.
The affected assessments and codes are:
Other
Propylene Chem Grade FD USG cts/lb Weekly spot PHAXI04

Propylene Chem Grade FD USG cts/lb MAvg PHBCO03
The assessment was published on Platts Petrochemical Alert pages 237, 309 and 439.
38
Market
Analysis
Data
Partners
Petroleum
Nat Gas
As a result, Platts is proposing to discontinue the following Latin American and Caribbean
refined products assessments, with effect from July 1, 2016:
Power
Countries in South America and the Caribbean in general have reduced their exports of refined
products, while increasing imports. In addition, several countries in South America have
implemented tighter sulfur restrictions on fuels and as a result there are fewer imports of fuel
oil and high sulfur diesel, and more imports of ultra low sulfur diesel. In the Caribbean, the
region has shifted in general from being a net exporter to a net importer, while spot market
liquidity has declined.
Editorial
Platts is proposing to discontinue a number of Latin American refined products

assessments with effect from July 1, 2016.
Summary
Petroleum
Platts Discontinues Some Latin American

Refined Products Assessments
Coal
Assessment Price database code Monthly average code

Argentina Mogas 84 PPASJ00 PPASJ03
Argentina Fuel Oil 0.7%S PPARI00 PPARI03
Brazil Fuel Oil 0.5-0.6%S PPARJ00 PPARJ03
Ecuador naphtha AAWVW00 AAWVW03
Peru fuel oil 2.0%S PPARL00 PPARL03
Caribbean naphtha cents/gal PAAAB10 PAAAB13
Caribbean naphtha $/mt PAAAB00 PAAAB03
Caribbean gasoil POAAU10 POAAU13
Caribbean fuel oil 2.8% S PUAAV00 PUAAV03
Softs
Metals
Freight
These assessments are published on Platts Global Alert and in Platts Latin American Wire.
Finance
NYMEX Delists Some Contract Months for

Three Gulf Coast Gasoline Futures
Weather &
Emissions
On December 8, 2015, New York Mercantile Exchange, Inc. (NYMEX) delisted previously
listed contract months beyond April 2016 for the three (3) Gulf Coast Gasoline
Futures contract listed below. The last contract month available for trading and clearing is
March 2016.
NYMEX Rulebook
Chapter
GS/AGS
526
Data
Partners
39
Market
Analysis
Gulf Coast Unl 87 Gasoline M1 (Platts) Futures
557
Other
Commodity Code
Contract Title
(Clearing/CME Globex)
Gulf Coast Unl 87 Gasoline M1 (Platts) vs.
RV/RV
RBOB Gasoline Futures
512
Editorial
These contracts are listed for trading on CME Globex and for submission for clearing through
CME ClearPort. There was no open interest in the delisted contract months.
Summary
Petroleum
Gulf Coast Unl 87 Gasoline M1 (Platts)

Crack Spread Futures
RU/ARW

Power
Argus Replaces Several China Petroleum Price Types
PA-code
Differential
Unit
basis
Dubai
USD/bl
Category
Frequency
->Crude->
Mideast Gulf
Weekly
Nat Gas
PA5001393
Price
Description
type
Dubai-Brent EFS
3
month 1 weekly avg
Petroleum
Effective October 26, 2015, Argus is replacing the following price types: 6 and 7 for
PA5001393 with price type: 3 for PA5001393 in the Argus China Petroleum data module.
Changes will appear in the DACP data module.
Effective October 30, 2015, Argus updated description for series in Argus Global Wax section:
Wax paraffin fully-refined bulk liquid

<133F fob US Gulf USC/lb month
Wax paraffin fully-refined bulk low-melt fob

US Gulf USC/lb month
PA0015809
Wax paraffin fully-refined bulk liquid 133- Wax paraffin fully-refined bulk mid-melt fob
144F fob US Gulf USC/lb month
PA0015810

>144F fob US Gulf USC/lb month
Wax paraffin fully-refined bulk high-melt fob

PA0015812

<133F fob US Gulf Euro/t month
Wax paraffin fully-refined bulk low-melt fob

US Gulf Euro/t month
PA0015813
Wax paraffin fully-refined bulk liquid 133- Wax paraffin fully-refined bulk mid-melt fob
144F fob US Gulf Euro/t month
PA0015814

>144F fob US Gulf Euro/t month
Wax paraffin fully-refined bulk high-melt fob

Other
Data
Partners
ZEMA is used by the front-, mid-, and back-office professionals in power 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 www.ze.com/
book-a-demo
40
Market
Analysis
Weather &
Emissions
PA0015808
Finance
New Description
Freight
Old Description
Metals
PA-code
Softs
Argus Updates Description for Wax Data Reports
Coal
ZEMA is equipped with advanced data collection capabilities and has the capacity to collect all data reports produced by
Argus. To learn more, visit http://www.ze.com/the-zema-solutions/
Power
Petroleum
Nat Gas
Editorial
Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) Balmo Future
Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) Future
Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo Future
Propane, OPIS Mt. Belvieu Other Non-TET Future
Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) Future
Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index (AFEI) Future
Summary

cash settled natural gas liquids contracts on December 14, 2015, subject to the satisfactory
completion of applicable regulatory processes. Contracts will be cleared at ICE Clear Europe.
Natural Gas
ICE Launches New Natural Gas Liquids Contracts
Coal
The graph below demonstrates the natural gas forward curve built by applying the ZEMAs
extrapolation functionality. ZEMA can be used by Risk Managers to build and compare
different forward curves similar to the one demonstrated below.
Softs
Metals
Freight
Finance
Data Source: NYMEX
Other
Effective December 01, 2015, Argus introduces multiple daily natural gas
volatility assessments for Europe including the ones for NBP, Gaspool, Zeeebrugge. To see the
full list of assessments, read the original announcement.
Weather &
Emissions
Argus Adds European Natural Gas Volatility Series
ZEMA collects Argus natural gas data along with other data sources. To learn more about ZEMA,
book a free demonstration today at http://www.ze.com/book-a-demo/.
Data
Partners
41
Market
Analysis
Summary
Coal
Editorial
Power
Softs
for fossil fuel industry. To learn more, visit http://www.ze.com/the-zema-solutions/.
Freight
Argus Adds Coal Series for Europe and Africa
Finance
On January 4, 2016, Argus launches coal daily series for Europe and Asia.
These PA code details will appear in the DCI module in the DCOAL folder
on ftp.argusmedia.com.
Category
Coal ARA cif swaps month
->Coal->Europe
PA0002646 6
Coal ARA cif swaps month
->Coal->Europe
PA0002648 6
Coal Richards Bay fob swaps month
->Coal->Africa
PA0002648 6
Coal Richards Bay fob swaps month
->Coal->Africa
Other
PA0002646 6
ZEMA collects multiple coal reports from different providers. To learn more, visit http://www.ze.com/the-zema-solutions/.
Market
Analysis
42
Data
Partners
Weather &
Emissions
Time Price Continuous

Description
stamp type forward
Metals
PA-code
Coal
API 2 Rotterdam Coal Average Price Options

API 2 Rotterdam Coal Future (Supporting API 2 Rotterdam Coal Average Price Options)
gC Newcastle Coal Average Price Options
gC Newcastle Coal Future (Supporting gC Newcastle Coal Average Price Options)
Nat Gas
Intercontinental Exchange (NYSE:ICE), announced the introduction of

new cash settled coal contracts on December 14, 2015, subject to the satisfactory
completion of applicable regulatory processes. Contracts will be cleared at ICE Clear Europe.
Petroleum
Coal
ICE Launches New Coal Contracts
Summary
Coal
Editorial
Power
Petroleum
Nat Gas
Coal
Platts Launches Daily Met Coal Relativity Assessments
Softs
After period of industry consultation and feedback, Platts starts publishing brand
relativity assessments for metallurgical coal on a daily basis from December 14, 2015.
Metals
The assessments are designed to reflect the daily tradeable values of up to 17 metallurgical
coal brands in the spot market. This is an extension to the existing monthly brand relativity
table assessments, which have a data series dating back to May 2013.
Freight
The assessments will be assessed on a US dollar/mt CFR China basis and will appear in
Platts Metal Alert and Steel Markets Daily.
Platts Proposes Daily Illinois Basin Assessment

Finance
Platts proposes to launch daily physical assessments of Illinois

Basin 11,800 Btu/lb FOB barge coal effective January 4, 2015.
The assessments will reflect the daily market value as of 2:30 pm Eastern prevailing time for
two front months, three forward quarters and one forward calendar year, and will be published
daily in Platts Coal Trader.
Weather &
Emissions
The specifications are coal with an average heat content of 11,800 Btu/lb and sulfur content
of 5 lbs SO2/MMBtu, with delivery on the lower Ohio River. The prices will be reported in US
dollars per short ton.
Other
Data
Partners

ZEMA is equipped with advanced data collection capabilities, and has the capacity to collect all data reports produced by
Platts. To learn more, visit http://www.ze.com/the-zema-solutions/.
43
Market
Analysis
Summary
Coal
Editorial
Platts to Launch Daily Metallurgical Coal

Relativity Assessments
Starting December 1, 2015, Platts launches a daily brand relativity
assessment for metallurgical coals.
The assessment is designed to reflect the daily tradable values of up to 17 metallurgical coal
brands in the spot market. This is an extension to the existing monthly brand relativity table
assessments which have a data series dating since May 2013.
Power
The assessments will be assessed on a US dollar/mt CFR China basis and will appear in
Platts Metal Alert, Coal Alert, Steel Markets Daily, and Coal Trader International.
Petroleum

Nat Gas
ZEMA collects over 100 coal reports. To gain more informed insight regarding Plattss new coal assessment, view ZEMAs
Platts reports and coal reports. To learn more, visit http://www.ze.com/the-zema-solutions/.
Platts Plans to End OTC Hedge Price Monitor
Softs
Metals
The affected codes are as follows:
Coal
Platts proposes to discontinue the weekly OTC Hedge Price Monitor that
runs every Friday in Platts Coal Trader. Due to evolving market conditions, Platts believes there
is no longer sufficient need to publish a weekly average of the prompt quarter and prompt year
physical assessments for the CAPP Barge, CAPP rail (CSX), PRB 8,800 and
PRB 8,400 futures contracts.
Freight
CAPP barge OTC: CHNQ001, CHNQ002, CHNQ003, CHNY001

CAPP rail (CSX) OTC: CHKQ001, CHKQ002, CHKQ003, CHKY001
PRB 8,800 OTC: CHAQ001, CHAQ002, CHAQ003, CHAY001
PRB 8,400 OTC: CHBQ001, CHBQ002, CHBQ003, CHBY001
Finance
Weather &
Emissions
Other
Data
Partners
44
Market
Analysis
Summary
Editorial
Power
Softs and Metals
Petroleum
ICE Futures Europe to Introduce Containerised

White Sugar Futures
Nat Gas
ICE Futures Europe will introduce a new physically delivered containerised

white sugar futures contract in the first quarter of 2016, with a first maturity of August 2016,
subject to satisfactory completion of applicable regulatory processes.
Softs
Metals
ICE Futures U.S. also offers two sugar futures contracts: the sugar no. 11 contract, which
allows for physical delivery of raw cane sugar at a variety of global delivery points, and the
sugar no. 16 contract, which allows for physical delivery of raw cane sugar within the U.S.
Coal
The containerised white sugar futures contract will trade at ICE Futures Europe alongside the
existing physically delivered white sugar futures contract. Transported in containers, rather
than break-bulk vessels, the containerised contract will be closely aligned with standard
shipping procedures for refined sugar. In recent years the underlying physical market for
refined sugar has evolved from break-bulk to containers, with the latter now accounting for the
majority of shipments.
ZEMA already collects ICE data reports. To gain a wider perspective of the agricultural market,
visit http://www.ze.com/the-zema-solutions/ for further information on how ZEMA can enhance your business processes.
Finance
Thomson Reuters Launches Islamic Asia Pacific

Ex-Japan Agribusiness Index
Freight
Weather &
Emissions
On November 12, 2015, Thomson Reuters launched Islamic Asia Pacific

Ex-Japan Islamic Agribusiness Index, covering 30 Shariah compliant companies in the Asia
Pacific region with revenues derived directly from agricultural products, the first index of its
kind in the Asia Pacific region.
Other
Data
Partners
The index will be tracked by an exchange-traded fund (ETF) provided by i-VCAP Management
Sdn Bhd which has launched on the same day and is named MyETF Thomson Reuters Asia
Pacific ex-Japan Islamic Agribusiness. The newly-launched ETF will offer investors exposure to
the performance of the index and is the first agricultural-related Islamic ETF available globally
and the first Islamic sector ETF available in the region.
45
Market
Analysis
Editorial
Starting November 9, 2015, Platts launches a new daily APW Wheat

FOB Australia assessment, which will reflect the traded or tradable value of spot
physical cargoes.
Power
Petroleum
The assessment will represent typical spot Australian export qualities, normalized to
Australian Premium White (APW) grade with a minimum of 10.5% protein (on an 11%
moisture basis), a maximum of 12.5% total moisture, a minimum falling number of
300 seconds and a typical flour wet gluten of 24.5%.
Nat Gas
The assessments volume, location and timing will reflect typical Australian wheat exports,
normalized to 30,000 mt loading in Kwinana, Western Australia, in 60-90 days.
The assessment will be published in Platts Daily Grains, Platts Market Data and Platts
Agriculture Alert pages 2440, 2612, 2699 and 2700.
ZEMA collects over 100 reports from the agricultural market. To learn more about ZEMAs extensive data coverage, visit
http://www.ze.com/the-zema-solutions/data-coverage/.
Softs
Argus Starts Biomass Series for Vietnam

On December 2, 2015, 2015, Argus starts publishing weekly biomass
series for Vietnam. This data will appear in the DABM folder on ftp. argusmedia.com.
Price type Description
Category
PA0018014
->Biomass->Wood pellets
Wood pellets fob Vietnam
Metals
Time stamp
Freight
PA0017848
RIN advanced biofuel 2016
PA0017848
PA0017848
PA0017849
RIN biomass-based diesel 2016
Unit
USC/
RIN
USC/
RIN
USC/
RIN
USC/
RIN
Category
->Products->Blendstocks
Data
Partners
Time Price
Description
stamp type
Other
PA-code
Weather &
Emissions
On October 30, 2015, Argus starts publication of some daily biofuel

series for Americas. These PA code details will appear in the duse .csv file in the DUSEthanol
folder on ftp.argusmedia.com.
Finance
Argus Introduces Americas Biofuel Series
46
Market
Analysis
Coal
PA-code
Summary
Softs
Platts Launches Daily APW Wheat

FOB Australia Assessment
PA0017849
PA0017850
PA0017850
PA0017850
RIN renewable fuel (Ethanol)

2016
2016
2016
USC/
RIN
USC/
RIN
USC/
RIN
USC/
RIN
USC/
RIN
Petroleum
Power
Category
Editorial
PA0017849
Unit
Summary
Time Price
Description
stamp type
Softs
PA-code

Nat Gas
ZEMA collects a range of Argus data. To learn more, visit http://www.ze.com/the-zema-solutions/data-coverage/
Moscow Exchange Launches Grain Trading
Coal
National Mercantile Exchange, part of Moscow Exchange Group, launched

on-exchange trading in grain on December 23, 2015. NCC Clearing Bank acts as the central
counterparty. National Logistic Company will act as logistics provider, alongside surveyor
companies. Accredited elevators will provide grain storage solutions.
CPO
204
U.S. Dollar Cash Settled Crude Palm Oil Futures
Data
Partners
CME Rulebook Chapter
47
Market
Analysis

Other
Commodity Code Contract Title
Weather &
Emissions
On December 7, 2015, Chicago Mercantile Exchange Inc. (CME) delisted

the U.S. Dollar Cash Settled Crude Palm Oil (CPO) Futures contract (Contract)
identified below. There was no open interest in the Contract. The contract is delisted from CME
Globex and CME ClearPort.
Finance
CME Delists the U.S. Dollar Cash Settled Crude Palm Oil Futures
Freight
Metals
Russia has ramped up grain production over the past few decades and become one of the
worlds largest exporters of this key commodity. Creating a grain marketplace marks a
milestone in the modern history of the Russias grain market, and will provide transparent and
fair pricing, mitigate the risks involved in lending to grain producers and improve the efficiency
of grain business. On-exchange trading will also allow small players that often have advanced
grain processing technologies to be involved in the national grain market. Other agricultural
commodities typically traded on exchanges are planned to be offered in 2016 and following
years, said Deputy AgricultureMinisterSergey Levin.
Softs
The Exchange currently offers deliverable wheat forwards with minimum lot size of one ton
and delivery lot of 68 tons. Wheat from classes 3 to 5 is used as an underlying asset. Contract
settlement periods range from three days to six months.
Summary
Softs
Editorial
Power
Petroleum
Nat Gas
Argus Stops Fertilizer Index
Coal
On December 18, 2015, Argus stopped publication of Fertilizer Index series:

PA-code
Time
stamp
Price
Description
type
Category
PA0015191
Urea prilled fob Yuzhny Index
->Fertilizer->Urea Weekly
PA0015192
Urea granular bulk fob Egypt Index
PA0015193
Urea granular bulk fob NOLA Index
PA0015194
Urea prilled bulk fob China Index
PA0015195
Urea granular bulk fob Middle East

Index
PA0015196
Urea granular bulk cfr Brazil Index
PA0015197
DAP fob Tampa Index
PA0015198
DAP fob NOLA Index
PA0015199
UAN 32 fob NOLA Index
PA0015217
UAN 32 cfr US East coast index
PA0015311
17
PA0015312
17
PA0015313
17
PA0015314
17
Softs
Metals
Freight
Finance
Weekly
Weather &
Emissions
Weekly
->Fertilizer->Urea Monthly
Other
Data
Partners
48
Market
Analysis
Urea prilled fob Yuzhny Index current

month average
Urea granular bulk fob Egypt Index
current month average
Urea granular bulk fob NOLA Index
Urea prilled bulk fob China Index
->Fertilizer->
Nitrogen
->Fertilizer->
Nitrogen
Frequency
PA0015317
PA0015318
PA0015319
PA0015320
PA0016148
MAP cfr Brazil Index
PA0016149
17
MAP cfr Brazil Index current month

average
->Fertilizer->
Nitrogen
->Fertilizer->
Nitrogen
->Fertilizer->
Nitrogen
->Fertilizer->
Nitrogen
Monthly
Monthly
Weekly
Monthly
Coal
Nat Gas
PA0015316
Petroleum
Frequency
Power
PA0015315
Category
Editorial
Price
Description
type
Urea granular bulk fob Middle East
17
Index current month average
Urea granular bulk cfr Brazil Index
17
DAP fob Tampa Index current month
17
average
DAP fob NOLA Index current month
17
average
UAN 32 fob NOLA Index current
17
month average
UAN 32 cfr US east coast Index cur17
rent month average
Summary
Time
stamp
Softs
PA-code

Softs
Argus Discontinues Some Biofuel Series

On October 30, 2015, Argus ceased publication of some daily biofuel series:
PA0005653
Unit
USD/
m3
USD/
m3
Category
USD/t
PA0005654
Ethanol Pakistan del Mideast Gulf
USD/t
PA0005656
USD/t
PA0005656
USD/t
PA0006251
USD/t
PA0006251
USD/t
PA0008772
USD/t
PA0008772
USD/t
Ethanol EN Santos del Mideast

Gulf
Ethanol EN Santos del Mideast
Gulf
Ethanol Los Angeles waterborne
del Singapore prompt
Ethanol Los Angeles waterborne
del Singapore prompt
average month
average month
49
Market
Analysis
Data
Partners
Other
Weather &
Emissions
Finance
PA0005654
Freight
PA0005653
Time Price
Description
stamp type
Ethanol EN grade Brazil waterborne
2
1
fob Santos prompt
Ethanol EN grade Brazil waterborne
2
2
fob Santos prompt
Metals
PA Code
Summary
Softs
Editorial
Power
Petroleum
Nat Gas
CME Amends Feeder Cattle Futures
Coal
Effective November 10, 2015, Chicago Mercantile Exchange Inc. (CME)

amends CME Rule 10203.A. due to a change in the CME Feeder Cattle Index that underlies
the Feeder Cattle futures contract (Rulebook chapter: 102; Clearing Code: FC; CME Globex
Code: GF; CME ClearPort Code: 62). These amendments will be effective commencing with
the November 2016 contract month and beyond.
Finance
Weather &
Emissions
ZEMA collects over 100 reports from the agricultural market. To learn more about ZEMAs extensive data coverage, visit
http://www.ze.com/the-zema-solutions/data-coverage/
Freight
Metals
The index is calculated from all feeder cattle auction, direct trade, video sale, and Internet
sale transactions within the 12-state region of Colorado, Iowa, Kansas, Missouri, Montana,
Nebraska, New Mexico, North Dakota, Oklahoma, South Dakota, Texas and Wyoming for
which the number of head, weighted average price and weighted average weight are reported
by the Agricultural Marketing Service of the USDA (USDA-AMS).
Softs
Commencing with the November 2016 contract month and beyond, the weight range for
cattle included in the Index will be changed from 650-849 pounds to 700-899 pounds. The
Index price reported for November 1, 2016 will begin to reflect the new weight range.
Beginning November 1, 2016 and the next consecutive four Business Days, a new days data
using the new weight range will be incorporated into the Index calculation and the prior corresponding days data using the old weight range will be dropped.
Other
Data
Partners
50
Market
Analysis
Summary
Editorial
Metals
Power
Coal
The new Scrap and Rebar contracts will be traded on LMEselect, allowing industry
participants to reduce their risk exposure by hedging more steps in the steel production
process. The contracts are cash-settled against physical Turkish scrap and rebar
price indexes.
Softs
The new ferrous contracts will be supported by market-making programs to optimize market
depth and tightness of spreads.
Metals
With the physically settled Aluminium Premiums, participants can now hedge the regional
all-in price to ensure metal they receive is readily available in a non-queued LME
warehouses at a convenient location. The contracts will be traded across all LME venues,
including in price-discovery sessions on the Ring, which will meet the markets stated desire
for exchange-discovered regional premium pricing.
CME Launches Lead Futures
Trading Hours
Globex & CPC: Sunday - Friday 17:00 - 16:00, CT; No 17:00 session
on Friday
Product Size
25 Metric Tons
51
Market
Analysis
Data
Partners
Globex & ClearPort
Other
Effective November 23, 2015, COMEX exchange starts listing physically delivered
Lead Futures:
Weather &
Emissions
for metals industry. To learn more, visit http://www.ze.com/the-zema-solutions/.
Finance
Freight
The premium contacts were requested by market participants as part of the LMEs warehouse
reform program, and represent one of the 12 items in the package of measures announced in
November 2013.
Trading Venues
Nat Gas
On November 23, 2015, the London Metal Exchange (LME) announces

the launch of LME Aluminium Premiums, LME Steel Rebar and LME Steel Scrap, the first new
contracts to be offered by the exchange in more than five years.
Petroleum
LME Launches Ferrous and Premium Contracts
Minimum Price Increment
0.50
Value Per Tick / Currency
25 x 0.50 = $12.50
Contract Multiplier (CVF)
25
Trading terminates on the third last business day of the contract month
Power
February 2016 January 2017
Petroleum
Nat Gas
ZEMA collects multiple metal reports. To make more informed decisions about the global metal market,
visit http://www.ze.com/the-zema-solutions/ for further information about how ZEMA can significantly enhance your
business processes.
Metals
Copper Average Price Option

Commodity Code: CAP
COMEX Rulebook Chapter: 1191
U.S. Midwest Domestic Hot-Rolled Coil Steel Index Average Price Option
Commodity Code: HRO
NYMEX Rulebook Chapter: 1095
Softs
Effective November 16, 2015, Commodity Exchange, Inc. (COMEX) and New York Mercantile
Exchange, Inc. (NYMEX) commence trading on the CME Globex electronic platform two
contracts currently available for trading on the COMEX and NYMEX trading floors, respectively,
and for submission for clearing through CME ClearPort:
Coal
CME Lists Copper (COMEX) and U.S. Midwest

Hot-Rolled Coil Steel Index Average Price Options (NYMEX)
Freight
Finance

ZEMA can collect metals reports from any data provider. To learn more about the metals reports ZEMA collects,
visit http://www.ze.com/the-zema-solutions/data-coverage/
Market
Analysis
52
Data
Partners
The specifications of H2 grade are defined by Japan Ferrous Raw Materials Association as
being sized by guillotine shear, gas cutting, heavy construction machines, or others, to be
Other
Effective January 20, 2016, Platts is planning to start publishing a

FOB Japan H2 grade ferrous scrap weekly price assessment every Wednesday. The
assessment would be published on a Yen/metric ton FOB Tokyo Bay basis with a typical trade
volume of 5,000 mt, delivery in the next 30-60 days from the date of transaction, payment
terms LC at sight and cash against documents. A US$/mt conversion of this price assessment
would also be published.
Weather &
Emissions
Platts to Assess Weekly Japan H2 Ferrous Scrap
Editorial
Initial Contracts
Summary
Monthly contracts listed for 12 consecutive months
Metals
Series Listing Convention
Power
Petroleum
ZEMA collects over 70 metals reports. To learn more about the metals reports ZEMA collects,
visit http://www.ze.com/the-zema-solutions/data-coverage/.
Editorial
Summary
While the main export destination for H2 scrap is Korea, Platts would reflect the marginal FOB
price and will consider in its assessment export trades to other destinations in Asia including
Vietnam and Taiwan.
Metals
divided, according to thickness, size, and unit weight. Size of thickness: 3mm < or = thickness
< 6mm, width x length < or = 500mm x < or = 1,200mm, weight < or = 1,000kg. Trades for
Shindachi grade scrap will be normalized to H2 grade scrap.
Platts Adds 6000 Series Scrap Assessments
Nat Gas
Platts is planning to introduce two new weekly price assessments for

6000 series aluminum scrap on January 7, 2016.
Platts proposes to add a new 6022 sheet scrap price assessment to meet the
following specifications:
Coal
Softs
Metals
Freight
Weekly assessment of the price for new, bare aluminum sheet scrap meeting
6022 specification, to be assessed weekly as a discount to Platts Aluminum Transaction
price on the day of assessment, and also published as a calculated outright value, weekly
on Thursdays or closest business day in the event of holidays. The assessment will be for
6022 sheet scrap with a minimum thickness of 0.050 inches. Material to be free of hair
wire, wire screen, dirt and other non-metallic items, free of punchings less then half-inch in
diameter. Grease and oil not to total more than 1%. Assessed in cents per pound, taking
into account spreads and outright values, normalized to spot business shipping within
30 days, delivered Midwest basis, net-30 day payment terms. Based on a survey of scrap
dealers, aluminum mills, remelt billet makers, extruders, stampers, automotive companies
and others active in spot 6022 trading.
Finance
Weather &
Emissions
Other
Data
Partners
53
Market
Analysis
Summary
Editorial
Power
Petroleum
Nat Gas
Weekly price assessment for aluminum scrap consisting of new production and old/used
6063 extrusions that may contain up to, but not exceed, 10% painted extrusions and 10%
6061 alloy extrusions. Must not contain other alloys of aluminum. Material should be free
of zinc corners, iron attachments, felt, plastic, paper, cardboard, thermo break, and dirt
and other contaminants. Consistent with ISRI toto specification or mill-grade quality
10/10. Assessed once per week on Thursdays, or closest business day, through a survey
of scrap dealers, aluminum mills, remelt billet makers, extruders, secondary smelters and
others active in 10/10 spot trading, taking into account reported bids, offers and deals
reported as spreads or outright values. Assessed in cents per pound as a discount to the
Platts Aluminum Transaction price and also published as a calculated outright value. Price
assessment normalized to basis delivered US Midwest, within 30 days, net-30 day
payment terms.
Metals
Platts also proposes to add a new 10/10 extrusion scrap price to meet the
following specifications:

Coal
ZEMA, ZEs data management solution, excels at displaying time-series data in charts, graphs, forward curves, and more.
For further information, visit http://www.ze.com/the-zema-suite/.
Platts to Launch New Global Steel Mill Economics Spreads

Platts is proposing to start publishing new Global Steel Mill Economics Spreads based
on Asian, Turkey and US-focused markets starting April 1, 2016. The spreads will replace the
existing series, which will be discontinued.
Softs
1. ASEAN HRC Spread: TSI ASEAN HRC over TSI CFR China Iron Ore and TSI CFR
Prem JM25 HCC
Metals
Freight
2. Turkey Scrap Rebar Spread: Platts Rebar FOB Export over TSI HMS I/II Scrap CFR Turkey
3. Black Sea Billet Rebar Spread: Platts Black Sea Billet over Platts Rebar Turkey FOB Export
4. US Scrap HRC Spread: TSI US Domestic HRC over TSI Scrap (Weekly Shred)
Finance
5. US Scrap Rebar Spread: Platts US Domestic Rebar over TSI Scrap (Weekly Shred)
6. China Export HRC Spread: Platts HRC Export FOB China over PLV CFR China, IODEX
The assessments will be published in Platts Metals Alert, Platts SBB-Steel Market Daily, Platts
Steel Price Report, World Steel Review, and Platts Raw Materials Monthly.
Other
The data would also be made available in Platts Markets Data.

Data
Partners
ZEMA collects multiple 70 metals reports. To learn more about the metals reports ZEMA collects,
54
Market
Analysis
Weather &
Emissions
7. China Export Rebar Spread: Platts Rebar Export FOB China over PLV CFR China, IODEX
Summary
Editorial
Metals
Power
Petroleum
Platts Assesses Ex-works China Alumina Basis Shanxi
Nat Gas
Effective December 1, 2015, Platts has begun assessing its daily China spot
alumina price (MMXCY00) basis ex-works Shanxi province.
The assessment was previously basis ex-works Henan province. The related automated
weekly average (MMXCY04) and monthly average (MMXCY03) prices for this series also are
basis Shanxi effective December 1, 2015.
Coal
Platts will normalize all price information gathered from other major alumina-producing
Chinese provinces Henan, Shandong, Guangxi and Guizhou back to an ex-works
Shanxi basis.
Softs
Platts Launches All-in China Aluminum Prices

Metals
Effective November 2, 2015, Platts launches a daily all-in formula price

which will reflect the CFR China level. The proposed import price will reflect
Current LME + Platts CIF South Korean Spot Premium x Yuan exchange rate x 17% Value
Added Tax + China port charges. This can then be compared with the China domestic
Shanghai Futures Exchange current front month price, as well as the various domestic spot
prices for the reference spread, according to market participants preferences.
Freight
Finance
Platts Proposes New Mexican Aluminum Assessments
Weather &
Emissions
Platts is soliciting feedback on a proposal to add four new weekly price

assessments for Mexican aluminum scrap following industry requests. Platts expects to
launch the assessments on February 4, 2016. The proposed specifications would be
as follows:
Market
Analysis
55
Data
Partners
Other
Old cast delivered NE Mexico: Weekly assessment of the price for old cast aluminum scrap,
to be assessed in pesos/kg (and also published the same day in US dollars or cents/
pound equivalent), on Thursdays or closest business day in the event of holidays. The
assessment will be for old cast aluminum scrap with up to 5% contamination, minimal
88% recovery. Prices will be normalized to spot business shipping within 30 days,
delivered in the Northeastern region (Nuevo Leon and Coahuila states), free of VAT (IVA)
Freight
Weather &
Emissions
Category
->Metals Non-ferrous->Rare
Earths->Asia-Pacific
Other
Finance
Data
Partners
Lanthanum chloride
->Metals min 45% REO ex-works CNY/t Non-ferrous->Rare
China
Earths->Asia-Pacific
56
Market
Analysis
Metals
PA0018012 0
Softs
PA0018012 0
Continuous
Description
Unit
forward
Lanthanum chloride
0
min 45% REO ex-works CNY/t
China
Coal
Effective November 16, 2015, Argus adds new daily assessments to the
Argus Rare Earths data module. The following PA code details will appear in the
DRAREEARTHS module on ftp.argusmedia.com.
Price
type
Nat Gas
Argus Introduces New Rare Earth Metal Series
Time
stamp
Petroleum
PA-code
Power
6063 new bare delivered NE Mexico: Weekly price assessment for 6063 extrusion scrap to be
assessed in pesos/kg (and also published the same day in US dollar or cents/pound
equivalent) on Thursdays or closest business day in the event of holidays. The assessment
will be for 6063 new bare extrusion scrap, free of paint, anodized may include press scrap
with butts. Prices will be normalized to spot business shipping within 30 days, delivered in the
Northeastern region (Nuevo Leon or Coahuila states) free of VAT (IVA) tax, net-30 day payment
terms for typical volumes of 20 mt. Based on a survey of scrap dealers, secondary smelters,
extruders, cable makers and others active in spot 6063 extrusion scrap trading.
Editorial
UBCs delivered NE Mexico: Weekly price assessment for baled used beverage cans, to meet
ISRI taldon specification. Assessed once per week on Thursdays, or the closest business
day, through a survey of scrap dealers, aluminum mills, secondary smelters and others active
in UBC trading. Assessed in pesos/kg (and also published the same day in US dollar or cents/
pound equivalent), normalized to spot business shipping within 30 days, delivered in the
Northeastern region (Nuevo Leon and Coahuila states) free of VAT (IVA) tax, net-30 day
payment terms for typical volumes of 20 mt.
Summary
Old sheet, delivered NE Mexico: Weekly price assessment for non-cast aluminum items for
consumption by secondary aluminum smelters to meet ISRI taint/tabor grade. Assessed
once per week on Thursdays, or closest business day, through a survey of scrap dealers,
aluminum mills, secondary smelters and others active in old sheet spot trading. Assessed
in pesos/kg (and also published the same day in US dollar or cents/pound equivalent),
normalized to spot business shipping within 30 days, delivered in the Northeastern region
(Nuevo Leon and Coahuila states) free of VAT (IVA) tax, net-30 day payment terms for
typical volumes of 20 mt.
Metals
tax, net-30 day payment terms for typical volumes of 20 mt. Based on a survey of scrap
dealers, secondary smelters and others active in spot old cast trading.
Summary
Editorial
Metals
Power
Petroleum
Softs
With the discontinuation of these prices, Platts will also cease to publish the Western
aluminum fixed price equivalent C+F China price (MMALR00), as well as the Russian
aluminum fixed price equivalent C+F China price (MMACR00), which are automated prices
based on current LME aluminum price plus the assessed premiums.
Metals
Platts Stops Steel Mill Economics Global Spreads
Freight
Platts is proposing to discontinue its existing suite of Steel Mill Economics

Global Spreads on March 31, 2016 and replace the series with several new additions and
changes after discontinuation of the existing assessments. The move follows market interest
for exchange-focused tradable spreads and tracking export-oriented margins.
Finance
The list of the affected reports is below:

Symbol
Currency Description
Rebar China Billet Spread (CBRS) RMB/MT MAvg
BRSD000 USD
Rebar China Billet Spread (CBRS) $/MT
BSST000 USD
Scrap Turkey Billet Black Sea Spread (TSBS-Platts/TSI) US$/MT
BSST003 USD
Scrap Turkey Billet Black Sea Spread (TSBS-Platts/TSI) US$/MT MAvg
BSSTP00 USD
Scrap Turkey Billet Black Sea Spread (TSBS-Platts) US$/MT
BSSTP03 USD
Scrap Turkey Billet Black Sea Spread (TSBS-Platts) US$/MT MAvg

57
Market
Analysis
Data
Partners
BRSC003 RMB
Other
Rebar China Billet Spread (CBRS) RMB/MT
Weather &
Emissions
BRSC000 RMB
Coal
Effective October 31, 2015, Platts does not longer publish the daily
Western aluminum premium C+F China (MMALQ00) and the Russian aluminum premium C+F
China (MMALR00). The discontinuation of these prices follows a period of industry feedback
and notification.
Nat Gas
Platts Discontinues China Aluminum Premiums
USD
Scrap Turkey Billet Black Sea Spread (TSBS-TSI) US$/MT
BSSTT03
USD
Scrap Turkey Billet Black Sea Spread (TSBS-TSI) US$/MT MAvg
Coke China Coking Coal Coking Margin (CCM) RMB/MT MAvg
CMIT000
USD
Scrap Turkey Rebar Spread (TSRS-Platts/TSI) US$/MT
CMIT003
USD
Scrap Turkey Rebar Spread (TSRS-Platts/TSI) US$/MT MAvg
CMITP00
USD
Scrap Turkey Rebar Spread (TSRS-Platts) US$/MT
CMITP03
USD
Scrap Turkey Rebar Spread (TSRS-Platts) US$/MT MAvg
CMITT00
USD
Scrap Turkey Rebar Spread (TSRS-TSI) US$/MT
CMITT03
USD
Scrap Turkey Rebar Spread (TSRS-TSI) US$/MT MAvg
FRMCS00 USD
Long Steel China Spread (CLSS-IODEX) US$/MT
FRMCS03 USD
Long Steel China Spread (CLSS-IODEX) US$/MT MAvg
FSIC000
USD
Flat Steel China Spread (CFSS-IODEX/TSI) US$/MT
FSIC003
USD
Flat Steel China Spread (CFSS-IODEX/TSI) US$/MT MAvg
FSICI00
USD
Flat Steel China Spread (CFSS-TSI) US$/MT
FSICI03
USD
Flat Steel China Spread (CFSS-TSI) US$/MT MAvg
FSICT00
USD
Flat Steel China Spread (CFSS-IODEX) US$/MT
FSICT03
USD
Flat Steel China Spread (CFSS-IODEX) US$/MT MAvg
HFSUP03 USD
Scrap US CME HRC Spread (US SHRCF-CME/Platts) US$/ST MAvg
HFSUT00 USD
Scrap US CME HRC Spread (US SHRCF-CME/TSI) US$/ST Wk
HFSUT03 USD
Scrap US CME HRC Spread (US SHRCF-CME/TSI) US$/ST MAvg
HFSUU00 USD
Scrap US CME HRC Spread (US SHRCF-CME/TSI) $/MT Wk
HMIC000 USD
Hot Metal China Spread (CHMS-IODEX/TSI) US$/MT
58
Market
Analysis
Data
Partners
Scrap US CME HRC Spread (US SHRCF-CME/Platts) US$/ST
Other
HFSUP00 USD
Weather &
Emissions
Scrap US Rebar Spread (US SRS-Platts) $/MT
Finance
CMIUF00 USD
Freight
Scrap US Rebar Spread (US SRS-Platts) US$/ST MAvg
Metals
CMIUE03 USD
Softs
Scrap US Rebar Spread (US SRS-Platts) US$/ST
Coal
CMIUE00 USD
Nat Gas
CMIC003 RMB
Petroleum
Coke China Coking Coal Coking Margin (CCM) RMB/MT

Power
CMIC000 RMB
Editorial
BSSTT00
Summary
Metals
Symbol
USD
Hot Metal China Spread (CHMS-IODEX) US$/MT
HMICI03
USD
Hot Metal China Spread (CHMS-IODEX) US$/MT MAvg
HMICT00
USD
Hot Metal China Spread (CHMS-TSI) US$/MT
HMICT03
USD
Hot Metal China Spread (CHMS-TSI) US$/MT MAvg
HSSUI00
USD
Scrap US HRC Spread (US SHRC-Platts) US$/ST
HSSUI03
USD
Scrap US HRC Spread (US SHRC-Platts) US$/ST MAvg
Scrap US HRC Spread (US SHRC-TSI) US$/ST
HSSUT03 USD
Scrap US HRC Spread (US SHRC-TSI) US$/ST MAvg
SMMCR00
USD
Long Steel China Spread (CLSS-TSI) US$/MT
SMMCR03
USD
Long Steel China Spread (CLSS-TSI) US$/MT Mavg
Softs
HSSUT00 USD
Coal
Scrap US HRC Spread (US SHRC-Platts) $/MT
Nat Gas
HSSUJ00 USD
Petroleum
HMICI00
Power
Hot Metal China Spread (CHMS-IODEX/TSI) US$/MT MAvg
Metals
The assessments are published in Platts Metals Alert, Platts SBB-Steel Market Daily, Platts
Steel Price Report, World Steel Review, and Platts Raw Materials Monthly. The data is also
available in Platts Markets Data.
Freight
COMEX Delists Two Precious Metals Variance Futures

On December 21, 2015, Commodity Exchange, Inc. (COMEX) delisted the
two precious metals variance futures contracts as described in the table below.
NYMEX Rulebook Chapter
VGA; VGQ; VGS
Gold Realized Variance Futures
1233
VSY; VSQ; VSS
Silver Realized Variance Futures
1234
Weather &
Emissions
Contract Title
Finance
Commodity Code
Other
Market
Analysis
59
Data
Partners
The graph on the next page shows the how the daily COMEX 100 Gold CME futures settlement
prices remained within the tolerance band over the two year period. ZEMAs sophisticated
analytical tool allows to build such graphs in few minutes.
Editorial
HMIC003 USD
Summary
Metals
Symbol
Summary
Editorial
Metals
Power

Petroleum
Nat Gas
Data Source: COMEX
Platts Discontinues Some Minor Metals Assessments
Coal
On December 31, 2015, Platts discontinues several weekly assessments

for minor metals, but will continue a number of other price assessments
previously considered for discontinuation.
Softs
Platts will discontinue publishing

The US weekly NY Dealer price assessments for Arsenic (AALXR00), Cadmium (MMADC00)
and Mercury (MMAKK00 and MMADJ00)
Metals
The US Producer Indium Corporation price (AALXS00)

Platts has decided to retain the weekly New York Dealer assessments for
Freight
Antimony (MMACY00)
Bismuth (MMADA00)
Indium (MMAKI00)
Selenium (MMADL00)
Rhenium (AAGTD00).
Finance
Weather &
Emissions
Platts plans to move the assessment day for these from Thursdays to Tuesdays, or nearest
working day in the event of a public holiday. The effective date for these assessments
switching to Tuesdays will be Tuesday, January 5, 2016.
Other
ZEMA collects over 30 Platts reports and over 70 metals reports. To learn more about the metals reports ZEMA collects,
Data
Partners
60
Market
Analysis
Summary
Editorial
Metals
Power
Petroleum
Argus Makes Changes to Steel Feedstock
Old Delivery
Mode
New Description
New Delivery
Mode
PA0015712
Iron ore fines cfr Qingdao

within 30 days - 61% Fe
cfr
Iron ore fines del N China port

delivered
PA0015713
Iron ore fines cfr Qingdao

cfr
within 30 days - 57.3% Fe
Iron ore fines del N China port

delivered
Softs
Old Description
Coal
Code
Nat Gas
Effective October 22, 2015, Argus makes changes to description and

delivery mode for the following codes in the DSTEEL data module:

Metals
Freight
Finance
Weather &
Emissions
Other
Data
Partners
61
Market
Analysis
Summary
Editorial
Freight
Power
Petroleum
Nat Gas
Platts to Launch New Capesize Coal Freight Assessment

Coal
Platts proposes to launch a new Capesize dry bulk freight assessment with
effect from March 1, 2016 reflecting the trade route of metallurgical coal from
East Australia to Rotterdam.
Softs
This new assessment would reflect the growing spot fixture activity basis loading at
Hay Point as European metallurgical coal consumers increase their requirements from East
Coast Australia.
Metals
The assessment would be based on modern Capesize dry bulk tonnage reflecting the route
from Hay Point, eastern Australia, to Rotterdam, Northwest Europe for a Capesize vessel
carrying metallurgical coal cargo of 160,000 mt. This assessment would be published on
a $/mt basis.
Freight
Finance
Platts Proposes New Panamax Dry Bulk Freight Assessment
Weather &
Emissions
Platts proposes to launch a new Panamax dry bulk freight rate assessment
reflecting the established trade route of bauxite from West Africa to Spain effective
February 1, 2016.
This new assessment would be published on a dollar per metric ton basis and reflect strong
market activity on this route and would be based on modern Panamax dry bulk tonnage.
Other
KAMSAR TO SAN CIPRIAN: This assessment would reflect the Kamsar, Guinea, to San Ciprian,
Spain, route for a Panamax vessel carrying a bauxite cargo of 59,000 mt.
62
Market
Analysis
Data
Partners
To receive up-to-date freight data, utilize ZEMA, ZEs enterprise data management solution. ZEMA collects data from
many Platts reports. To learn more, visit http://www.ze.com/the-zema-solutions/data/.
Editorial
Platts proposes to launch two new Long Range 2 clean tanker assessments
from the Mediterranean to Japan and South Korea, effective February 1, 2016. The new
assessments would reflect established trade routes for naphtha from the Mediterranean
region, and would be based on modern LR2 tonnage.
Summary
Freight
Platts Launches New LR2 Clean Tanker Assessments
Power
Coal
MEDITERRANEAN TO SOUTH KOREA: This assessment would reflect the Mediterranean to

South Korea route for a clean LR2 tanker carrying a cargo of 80,000 mt. The assessment
would reflect loadings from Mediterranean ports such as Milazzo and Skikda and discharge at
South Korean ports including Daesan and Ulsan.
Nat Gas
MEDITERRANEAN TO JAPAN: This assessment would reflect the Mediterranean to Japan route
for a clean LR2 tanker carrying a cargo of 80,000 mt. The assessment would reflect loadings
from Mediterranean ports such as Milazzo and Skikda and discharge at Japanese ports
including Chiba, Yokkaichi and Yokohama.
Petroleum
The assessments would be published on a lump-sum basis and expressed as US dollars per
voyage, to reflect how these routes are traded. Platts would also publish the equivalent
US dollar per metric ton value for this route.

Softs
Argus Introduces Biofuel Freight Series for Malaysia
PA-code
PA0018008
PA0018010
Daily
Weekly
Weekly
Weekly
Weekly
Other
PA0018011
Daily
Weather &
Emissions
PA0018009
Products ->
Biofuels
Products ->
Biofuels
Freight ->
Bio Fuels
Freight ->
Bio Fuels
Freight ->
Bio Fuels
Freight -> B
io Fuels
Frequency
Finance
PA0018007
Category
Freight
PA0018006

Description
stamp type forward
Palm Oil-Gasoil Spread
0
8
1
(POGO) month
Bean Oil-Gasoil Spread
6
8
1
(BOGO) month
Freight Palm Oil Malaysia 0
8
0
ARA 15-30kt
Freight Palm Oil Malaysia 0
8
0
Med 15-30kt
Freight PME Malaysia 0
8
0
ARA 3-5kt
Freight PME Malaysia 0
8
0
Med 3-5kt
Metals
On December 7, 2015, Argus starts publication of new biofuel series. These

PA code details will appear in the DBIOFUELS module in the DBIOFUELS folder
of ftp.argusmedia.com

Data
Partners
63
Market
Analysis
PA-code
PA0017790
PA0017792
PA0017793
PA0017795
PA0017798
PA0017800
PA0017803
PA0017805
PA0017807
USD/bl
USD/bl
USD/bl
USD/bl
->Freight
->Rail->Dirty
USD/bl
->Freight
->Rail->Dirty
USD/bl
USD/bl
USD/bl
USD/bl
USD/bl
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
64
Market
Analysis
USD/bl
Data
Partners
PA0017806
USD/bl
Other
PA0017804
USD/bl
Weather &
Emissions
PA0017802
USD/bl
Finance
PA0017801
USD/bl
Freight
PA0017799
USD/bl
Metals
PA0017797
USD/bl
Softs
PA0017796
USD/bl
Coal
PA0017794
USD/bl
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
->Freight
->Rail->Dirty
Nat Gas
PA0017791
USD/bl
Category
Petroleum
PA0017789
Unit
Power
PA0017788

Description
stamp type forward
Rail unit rate crude DOT-111
2
8
1
North Dakota - Chicago month
Rail manifest rate crude DOT-111
2
8
1
North Dakota - Albany month
2
8
1
North Dakota - Albany month
2
8
1
North Dakota - St James LA month
2
8
1
North Dakota - St James LA month
2
8
1
North Dakota - Port Arthur month
2
8
1
North Dakota - Port Arthur month
2
8
1
North Dakota - Houston month
2
8
1
North Dakota - Houston month
2
8
1
North Dakota - Tulsa month
2
8
1
North Dakota - Tulsa month
2
8
1
North Dakota - Denver month
2
8
1
North Dakota - Denver month
2
8
1
North Dakota - Bakersfield CA
month
2
8
1
North Dakota - Bakersfield CA
month
2
8
1
North Dakota - Seattle month
2
8
1
North Dakota - Seattle month
2
8
1
South Texas - St James LA month
2
8
1
South Texas - St James LA month
2
8
1
Cheyenne - St James LA month
Editorial
Starting November 02, 2015, Argus introduces new monthly series to Argus
Petroleum Transportation North America:
Summary
Freight
Argus Adds Petroleum Transportation Series for North America
PA0017811
PA0017815
PA0017817
PA0017819
PA0017821
PA0017824
PA0017825
->Freight
->Rail->Dirty
->Freight
USD/bl
->Rail->Dirty
USC/ ->Freight
USG
->Rail->Clean
USC/ ->Freight
USG
->Rail->Clean
USC/ ->Freight
USG
->Rail->Clean
USC/ ->Freight
USG
->Rail->Clean
USC/ ->Freight
USG
->Rail->Clean
USC/ ->Freight
USG
->Rail->Clean
USC/ ->Freight
USG
->Rail->Clean
USC/ ->Freight
USG
->Rail->Clean
USC/ ->Freight
USG
->Rail->Clean
USC/ ->Freight
USG
->Rail->Clean
USD/bl
Other
PA0017826
->Freight
->Rail->Dirty
Weather &
Emissions
PA0017823
USD/bl
Finance
PA0017822
->Freight
->Rail->Dirty
Freight
PA0017820
USD/bl
Metals
PA0017818
->Freight
->Rail->Dirty
Softs
PA0017816
USD/bl
Coal
PA0017814
->Freight
->Rail->Dirty
Nat Gas
PA0017813
USD/bl
Petroleum
PA0017812
->Freight
->Rail->Dirty
->Freight
USD/bl
->Rail->Dirty
->Freight
USD/bl
->Rail->Dirty
USD/bl
Power
PA0017810
Category
Data
Partners

Market participants can use ZEMA to receive up-to-the-minute data from petroleum markets. To receive a free ZEMA
demonstration, visit http://www.ze.com/book-a-demo/
65
Market
Analysis
Editorial
PA0017809
Unit
Summary
PA0017808

Description
stamp type forward
2
8
1
Cheyenne - St James LA month
2
8
1
Tulsa - Houston month
2
8
1
Tulsa - Houston month
Rail manifest rate crude DOT2
8
1
111 North Dakota - Philadelphia
month
2
8
1
North Dakota - Philadelphia
month
2
8
1
North Dakota - New York Harbor
month
2
8
1
North Dakota - New York Harbor
month
2
8
1
Cheyenne - Stockton CA month
2
8
1
Cheyenne - Stockton CA month
Rail manifest rate ethanol
2
8
1
Chicago - Houston month
Rail unit rate ethanol Chicago 2
8
1
Houston month
Rail manifest rate ethanol
2
8
1
Chicago - New York month
Rail unit rate ethanol Chicago 2
8
1
New York month
Rail manifest rate LPG Western
2
8
1
Pennsylvania - Chicago month
Rail unit rate LPG Western
2
8
1
Pennsylvania - Chicago month
Rail manifest rate LPG Western
2
8
1
Pennsylvania - New York month
Rail unit rate LPG Western
2
8
1
Pennsylvania - New York month
Rail manifest rate LPG Houston 2
8
1
New York month
Rail unit rate LPG Houston 2
8
1
New York month
Freight
PA-code
Editorial
Power
The discontinuation of these assessments was proposed due to changes in typical spot
market trade flows, as participants rarely break bulk ethanol cargoes in Singapore anymore.
Summary
Following a June 29 proposal note and period for review and feedback, on
December 21, 2015, Platts discontinued its FOB Singapore ethanol assessment, including
the daily assessment (AAWAD00), and weekly and monthly averages (AAWAD04; AAWAD03).
Freight
Platts Discontinues Ethanol FOB Singapore Assessment

Petroleum
Platts Discontinues Capesize,

Panamax Coal Freight Assessments
Nat Gas
Platts proposes to discontinue the following Capesize and Panamax coal freight
assessments due to a prolonged absence of spot market activity on these routes, with effect
from August 1, 2016:
Coal
CINAR00 DBF Thermal Coal Newcastle - Rotterdam (150kt) $/mt Capesize Daily
CINAR03 DBF Thermal Coal Newcastle - Rotterdam (150kt) $/mt Capesize MAVG
CIGAR00 DBF Thermal Coal Gladstone - Rotterdam (150kt) $/mt Capesize Daily
CIGAR03 DBF Thermal Coal Gladstone - Rotterdam (150kt) $/mt Capesize MAVG
CIGRN00 DBF Thermal Coal Gladstone - Rotterdam (75kt) $/mt Panamax Daily
CIGRN03 DBF Thermal Coal Gladstone - Rotterdam (75kt) $/mt Panamax MAVG
CIGAT00 DBF Thermal Coal Gladstone - Iskenderun (75kt) $/mt Panamax Daily
CIGAT03 DBF Thermal Coal Gladstone - Iskenderun (75kt) $/mt Panamax MAVG
CINRN00 DBF Thermal Coal Newcastle - Rotterdam (75kt) $/mt Panamax Daily
CINRN03 DBF Thermal Coal Newcastle - Rotterdam (75kt) $/mt Panamax MAVG
CDRBR00 DBF Met Coal Roberts Bank - Rotterdam (70kt) $/mt Panamax Daily
CDRBR03 DBF Met Coal Roberts Bank - Rotterdam (70kt) $/mt Panamax MAVG
CDBUC00 DBF Met Coal Hampton Roads - Qingdao (70kt) $/mt Panamax Daily
CDBUC03 DBF Met Coal Hampton Roads - Qingdao (70kt) $/mt Panamax MAVG
Softs
Metals
Freight
Finance
Platts Ends North America, Panama LS 1% Bunker Assessments
Market
Analysis
66
Data
Partners
Other
Effective December 1, 2015, Platts ended the publication of its North America
and Panama 1% sulfur bunker fuel assessments. Platts assessed 1%S, or low-sulfur,
bunker fuel on delivered and ex-wharf bases in Houston, New Orleans, New York,
Philadelphia, Savannah, Charleston, Norfolk, Montreal, Vancouver, Seattle, Portland,
San Francisco and Los Angeles in North America, and in the Panamanian ports of Balboa and
Cristobal. The assessments discontinued include IFO 380 and IFO 180 qualities.
Weather &
Emissions
ASSESSMENT CODE PGA PAGE MONTH CODE
Power
New York LS 1% AAWSS00 MH860 AAWSS03

Philadelphia LS 1% AAWSW00 MH860 AAWSW03
Norfolk LS 1% AAWSO00 MH860 AAWSO03
Charleston LS 1% AAWLK00 MH860 AAWLK03
Houston LS 1% AAWLO00 MH860 AAWLO03
New Orleans LS 1% AAWRY00 MH860 AAWRY03
Los Angeles LS 1% AAWLS00 MH860 AAWLS03
San Francisco LS 1% AAWTE00 MH860 AAWTE03
Portland LS 1% AAWTA00 MH860 AAWTA03
Seattle LS 1% AAWTK00 MH860 AAWTK03
Montreal LS 1% AAWQI00 MH860 AAWQI03
Vancouver LS 1% AAWTO00 MH860 AAWTO03
Petroleum
Nat Gas
Coal
IFO 180 CST delivered
Softs
New York LS 1% AAWSQ00 MH860 AAWSQ03

Philadelphia LS 1% AAWSU00 MH860 AAWSU03
Norfolk LS 1% AAWSM00 MH860 AAWSM03
Charleston LS 1% AAWLI00 MH860 AAWLI03
Houston LS 1% AAWLM00 MH860 AAWLM03
New Orleans LS 1% AAWQO00 MH860 AAWQO03
Los Angeles LS 1% AAWLQ00 MH860 AAWLQ03
San Francisco LS 1% AAWTC00 MH860 AAWTC03
Portland LS 1% AAWSY00 MH860 AAWSY03
Seattle LS 1% AAWTI00 MH860 AAWTI03
Montreal LS 1% AAWLX00 MH860 AAWLX03
Vancouver LS 1% AAWTM00 MH860 AAWTM03
Metals
Freight
Finance
Weather &
Emissions
IFO 380 CST bunker ex-wharf
Other
New York LS 1% AAWST00 MH862 AAWST03

Philadelphia LS 1% AAWSX00 MH862 AAWSX03
Norfolk LS 1% AAWSP00 MH862 AAWSP03
Charleston LS 1% AAWLL00 MH862 AAWLL03
Savannah LS 1% AAWTH00 MH862 AAWTH03
Houston LS 1% AAWLP00 MH862 AAWLP03
New Orleans LS 1% AAWRZ00 MH862 AAWRZ03
Los Angeles LS 1% AAWLT00 MH862 AAWLT03
San Francisco LS 1% AAWTF00 MH862 AAWTF03
Data
Partners
67
Market
Analysis
Editorial
IFO 380 CST delivered
Summary
Freight
See a list of all affected assessments and their PGA codes below:
Summary
Editorial
Freight
Portland LS 1% AAWTB00 MH862 AAWTB03

Seattle LS 1% AAWTL00 MH862 AAWTL03
Montreal LS 1% AAWQJ00 MH862 AAWQJ03
Vancouver LS 1% AAWTP00 MH862 AAWTP03
Balboa LS 1% AAWWQ00 MH870 AAWWQ03
Cristobal LS 1% AAWWO00 MH870 AAWWO03
Power
IFO 180 CST bunker ex-wharf
Petroleum
New York LS 1% AAWSR00 MH862 AAWSR03

Philadelphia LS 1% AAWSV00 MH862 AAWSV03
Norfolk LS 1% AAWSN00 MH862 AAWSN03
Charleston LS 1% AAWLJ00 MH862 AAWLJ03
Savannah LS 1% AAWTG00 MH862 AAWTG03
Houston LS 1% AAWLN00 MH862 AAWLN03
New Orleans LS 1% AAWRX00 MH862 AAWRX03
Los Angeles LS 1% AAWLR00 MH862 AAWLR03
San Francisco LS 1% AAWTD00 MH862 AAWTD03
Portland LS 1% AAWSZ00 MH862 AAWSZ03
Seattle LS 1% AAWTJ00 MH862 AAWTJ03
Montreal LS 1% AAWQH00 MH862 AAWQH03
Vancouver LS 1% AAWTN00 MH862 AAWTN03
Balboa LS 1% AAWWP00 MH870 AAWWP03
Cristobal LS 1% AAWWN00 MH870 AAWWN03
Nat Gas
Coal
Softs
Metals

Freight
CME Delists Contract Months for the Freight Route

TD3 (Baltic) Futures and Suspends Additional Contract
Months for the Freight Route TD3 (Baltic) Average Price Options
Market
Analysis
68
Data
Partners
Other
Weather &
Emissions
In addition, effective on Sunday, January 10, 2016 for trade date Monday, January 11, 2016,
and pending all relevant CFTC regulatory review periods, NYMEX suspends listing new contract
months in the Freight Route TD3 (Baltic) Average Price Options Contract (Clearing Code: TDT;
CME Globex Code: TDT; NYMEX Rule Chapter: 949). This contract is listed on a two year
annual roll, and is currently listed to December 2017 contract.
Finance
On December 21, 2015, New York Mercantile Exchange, Inc. (NYMEX) delisted
previously-listed contract months for the Freight Route TD3 (Baltic) Futures contract (Clearing
Code: TL; CME Globex Code: TL; NYMEX Rule Chapter: 684). As such the last contract month
available for trading and clearing is December 2017. There was no open interest in the
subject contract months that were delisted.
Start date
15405
Gasoline 98r north

Germany fca truck
Gasoline 98r north

Germany fca truck
index
->Products->
05-Jan-2015 Euro/100l Gasoline->Northwest
Europe
15407
Gasoline 98r
Gasoline 98r
->Products->
southwest Germany southwest Germany 05-Jan-2015 Euro/100l Gasoline->Northwest
fca truck
fca truck index
Europe
15409
Gasoline 98r south

Germany fca truck
->Products->
Europe
->Products->
12-Oct-2015 Euro/100l Gasoline->Northwest
Europe
->Products->
16-Dec-2015 Euro/100l Gasoline->Northwest
Europe
->Products->
12-Apr-2015 Euro/100l Gasoline->Northwest
Europe
->Products->
01-Jun-2015 Euro/100l Gasoline->Northwest
Europe
Weather &
Emissions
Finance
15419
Gasoline 98r east

Germany fca truck
index
Gasoline 98r
Gasoline 98r
Cologne Lowland
Cologne Lowland
Germany fca truck
Germany fca truck
index
Gasoline 98r
Gasoline 98r
southeast Germany southeast Germany
fca truck
fca truck index
Gasoline 98r Lower
Gasoline 98r Lower
Rhein-Ruhr
Rhein-Ruhr Germany
Germany fca truck
fca truck
index
Gasoline 98r
Gasoline 98r
Rhein-Main
Rhein-Main
Germany fca truck
Germany fca truck
index
Gasoline 98r east
Germany fca truck
Freight
15417
->Products->
Europe
Metals
15415
Gasoline 98r south

Germany fca truck
index
Softs
15413
Category
Coal
15411
Unit
Nat Gas
New Description
Petroleum
Old Description
Power
Code
Editorial
Starting October 22, 2015 and continuing on, Argus adjusts description
for some daily gasoline truck codes as follows:
Summary
Freight
Argus Changes Description for German Fuels (Handel)
Other
Data
Partners
69
Market
Analysis
Summary
Editorial
Finance
Power
Petroleum
Bloomberg Launches New Bond Pricing Data

of Japan Securities Dealers Association
Nat Gas
Effective November 2, 2015, Japan Securities Dealers Association (JSDA) commences the
dissemination of corporate bond traded prices and make revisions to the methodology
of Japanese Yen (JPY) bond reference prices, utilizing Bloombergs platform.
Softs
Metals
To enhance the accuracy of JPY bond reference prices, JSDA has made revisions to
its calculating process. This includes tightening the requirements and selection process of
price contributors, changing its calculating methodology, modifying its reporting and
disseminating times and instilling more rigorous checks.
Coal
JSDA will publicly disclose the traded prices and corporate bond transactional data on
a daily basis, covering approximately 1,200 bonds. Transactions with notional value of over
100 million yen, and credit rating above AA, derived from at least two credit agencies, will be
disseminated.

Freight
ZEMA collects multiple financial market reports. To learn more about ZEMAs vast data coverage,
Finance
Xetra Launches iShares ETFs on Individual

Sectors of S&Ps Sector Index Family
iShares S&P 500 Consumer Discretionary Sector UCITS ETF
IE00B4MCHD36 0.15 percent
iShares S&P 500 Energy Sector UCITS ETF
IE00B42NKQ00 0.15 percent
iShares S&P 500 Financials Sector UCITS ETF
IE00B4JNQZ49 0.15 percent
iShares S&P 500 Health Care Sector UCITS ETF
IE00B43HR379 0.15 percent
iShares S&P 500 Information Technology Sector UCITS ETF
IE00B3WJKG14 0.15 percent

70
Market
Analysis
Total expense ratio
Data
Partners
ISIN
Other
ETF name
Weather &
Emissions
Five new iShares ETFs from BlackRock have been tradable via Xetra
and Brse Frankfurt since December 2, 2015.
Power
Petroleum
The financials sector includes companies in the banking, mortgage, asset management and
credit business.
Editorial
The energy sector consists of companies in integrated oil and gas, oil and gas drilling as well
as coal and consumable fuels business.
Summary
The consumer discretionary sector comprises companies from the automotive, clothing,
media and general luxury goods sub-sectors. As consumption of these goods may be limited
in economically difficult times, this sector is highly cyclical.
Finance
The new iShares ETFs track the performance of US companies in the S&P 500 Sector index
family and give investors access to the consumer discretionary, energy, financials, healthcare,
and IT sectors.
Coal
The information technology sector encompasses those active in the technology sub-sectors:
software and services (internet software and home entertainment), hardware and equipment
(communication devices, computers and peripherals) as well as manufacturers of
semi-conductors.
Nat Gas
The healthcare sector consists of a group of companies in health technology as well as

research and development, including pharmaceutical and biotech companies.

Softs
Xetra and Brse Frankfurt Launch ETFs on Japanese Market
Metals
Two new exchange-listed equity index funds issued by SPDR

(State Street Global Advisors) have been tradable on Xetra and Brse Frankfurt
since December 1, 2105.
Freight
Name: SPDR MSCI Japan UCITS ETF

Asset class: equity index ETF
ISIN: IE00BZ0G8B96
Ongoing charges: 0.30 percent
Distribution policy: accumulating
Benchmark: MSCI Japan Index
Finance
Weather &
Emissions
Name: SPDR MSCI Japan EUR Hdg UCITS ETF

ISIN: IE00BZ0G8C04
Ongoing charges: 0.35 percent
Benchmark: MSCI Japan 100% Hedged to EUR Index
Market
Analysis
71
Data
Partners
Other
The new SPDR MSCI Japan UCITS ETF offers investors access to the performance of Japanese
stock corporations in the MSCI Japan Index. The reference index contains 316 Japanese
large-cap and mid-cap companies and thus covers around 85 percent of the free float market
capitalisation. The SPDR MSCI Japan EUR Hdg UCITS ETF is another option enabling investors
CME Adds 1-Month and 3-Month

Euro/US Dollar Realized Volatility Futures
Petroleum
Nat Gas
The new contracts will offer direct trading of EUR/USD exchange rate volatility and
allow participants to buy or sell EUR/USD exchange rate volatility without the complexity of
managing CME Euro/US Dollar standard options positions, and without the necessity
of forming a strong directional view on the price movement of the underlying CME Euro/US
Dollar futures contract.
Power
Effective December 20, 2015 for trade date Monday, December 21, 2015, and pending all
relevant CFTC regulatory review periods, CME lists the cash-settled 1-Month Euro/U.S. Dollar
(EUR/USD) VolContractsTM Futures contract and the 3-Month Euro/U.S. Dollar (EUR/USD)
VolContractsTM Futures contract for trading on CME Globex and for submission for clearing
through CME ClearPort.
Editorial
Summary
Finance
to participate in the performance of the index while remaining hedged against currency risk.
The index fund helps to hedge against fluctuation of the Japanese yen against the euro.
Coal
CME Lists S&P MLP Total Return Index Futures Contract
Trading Unit
$10 x S&P MLP Total Return Index
Approximate Notional
Size ($/contract)
46,880
Five nearest months in March Quarterly cycle
(March, June, September, December)
Delivery months for initial listing: Dec 2015, Mar 2016, Jun 2016, Sep 2016,
Dec 2016
Prices are quoted and traded in Index points
Minimum Price
Increment
Calendar spread: 0.50 Index points, equal to $5.00 per calendar spread.
Basis Trade at Index Close (BTIC): 0.50 Index points,
equal to $5.00 per contract.
Data
Partners
72
Market
Analysis
Other
Outright: 1.00 Index points, equal to $10.00 per contract.
Weather &
Emissions
Price Basis
Finance
Delivery Months
Freight
S&P MLP Total Return Index
Metals
Futures Product
Softs
Effective November 16, 2015, Chicago Mercantile Exchange Inc. (CME)

will have the S&P MLP Total Return Index futures contract available for trading
on the CME Globex electronic trading platform and for submission for clearing
via CME ClearPort.
Power
Price Limits
5:00pm to 8:30am 5% above Fixing Price to 5% below Fixing Price

8:30am to 3:00pm Sequential circuit breaker limits at 7%, 13%, and 20%
below Fixing
Last Day of Trading is 3rd Friday of contract delivery month.

Trading in expiring futures terminates at 8:30 am on Last Day of Trading.
50 contracts
Softs
Minimum Block Trade
Coal
Delivery
Delivery is by cash settlement by reference to Final Settlement Price,

equal to Special Opening Quotation of Index based on opening prices of Index
component stocks.
Metals

ZEMA collects over 300 financial market reports. To learn more about ZEMAs vast data coverage,
visit http://www.ze.com/the-zema-solutions/data-coverage/
Freight
CBOE Introduces Five New Options-Based Strategy

Performance Benchmark Indexes Tied to Russell 2000
Other
Data
Partners
Market
Analysis
73
Weather &
Emissions
In August 2015, CBOE created a similar series of 10 options-based strategy performance

benchmark indexes that used S&P 500 Index (SPX) Weeklys options to create new versions of
two of CBOEs strategy benchmark indexes the CBOE S&P 500 BuyWrite Index (BXM) and
the CBOE S&P 500 PutWrite (PUT) Index as well as new risk-managed option selling
strategies featuring SPX and CBOE Volatility Index(VIXIndex) options. A description of each
index follows:
Finance
On November 23, 2015, the Chicago Board Options Exchange(CBOE) announced five new
options-based strategy performance benchmark indexes that focus on options as risk
management and yield enhancing investment tools. The new benchmarks use RUT options to
create a CBOE Russell 2000 PutWrite Index, a CBOE Russell 2000 Zero-Cost Put Spread
Collar Index, a CBOE Russell 2000 30-Delta BuyWrite Index, a CBOE Russell 2000
Conditional BuyWrite Index, and a CBOE Russell 2000 One-Week PutWrite Index. Values for
each of the benchmark indexes will be published every 15 seconds throughout the trading day
Nat Gas
3:00pm to 4:15pm $5% above Fixing Price to 5% below Fixing Price, provided
there is no breech of current days circuit breaker limit of 20% below
Fixing Price
Petroleum
Price
Editorial
Interval Price Limits
Summary
Finance
Price limits for a given Business Day are made by reference to Fixing Price
made by Exchange on previous Business Day, equal to volume weighted
average price calculated on basis of futures trading activity between
2:59:30pm and 3:00:00pm.
Editorial
Power
The CBOE Russell 2000 PutWrite Index is designed to track the performance of a
hypothetical strategy that sells a monthly at-the-money (ATM) Russell 2000 Index put
option. The written Russell 2000 Index put option is collateralized by a money market
account invested in one-month Treasury bills. The PUTR Index rolls on a monthly basis,
typically every third Friday of the month.
Summary
Finance
CBOE Russell 2000 PutWrite Index (ticker symbol: PUTR)
CBOE Russell 2000 Zero-Cost Put Spread Collar Index (ticker symbol: CLLR)
Coal
Softs
The CBOE Russell 2000 30-Delta BuyWrite Index is designed to track the performance of
a hypothetical covered call strategy that holds a long position indexed to the Russell 2000
Index and sells a monthly OTM Russell 2000 Index call option. The call option written is the
strike nearest to the 30 Delta at 10:00 a.m. CT on the roll date. The BXRD Index rolls on a
monthly basis, typically every third Friday of the month.
Nat Gas
CBOE Russell 2000 30-Delta BuyWrite Index (ticker symbol: BXRD)
Petroleum
The CBOE Russell 2000 Zero-Cost Put Spread Collar Index is designed to track the
performance of a hypothetical option trading strategy that 1) holds a long position indexed
to the Russell 2000 Index; 2) on a monthly basis buys a 2.5 percent to 5 percent Russell
2000 Index put option spread; and 3) sells a monthly out-of-the-money (OTM) Russell
2000 Index call option to cover the cost of the put option spread. The CLLR Index rolls on a
monthly basis, typically every third Friday of the month.
CBOE Russell 2000 Conditional BuyWrite Index (ticker symbol: BXRC)
Other
ICE Futures Singapore Launches Commodity and FX Contracts
Data
Partners
ICE Futures Singapore and ICE Clear Singapore launched trading and clearing
on November 17, 2015. Total volume of 8,847 contracts traded and cleared on
November 17, across energy, gold and FX.
74
Market
Analysis
Weather &
Emissions
Finance
The CBOE Russell 2000 One-Week PutWrite Index is designed to track the performance of
a hypothetical strategy that sells a weekly ATM Russell 2000 Index put option. The maturity
of the written Russell 2000 Index put option is one week to expiry. The written Russell 2000
Index put option is collateralized by a money market account invested in one-month
Treasury bills. The WPTR Index rolls on a weekly basis, typically every Friday.
Freight
CBOE Russell 2000 One-Week PutWrite Index (ticker symbol: WPTR)
Metals
The CBOE Russell 2000 Conditional BuyWrite Index is designed to track the performance of
a hypothetical covered call strategy that holds a long position indexed to the Russell 2000
Index and sells a monthly ATM Russell 2000 Index call option. The written number of ATM
call options will be either unit or one unit and will be determined by the level of the CBOE
Russell 2000 Volatility Index (RVX) when the call option is written on the roll date. The BXRC
Index rolls on a monthly basis, typically every third Friday of the month.
Power
Petroleum
ICE Futures Singapore and ICE Clear Singapore operate under the oversight of the Monetary
Authority of Singapore (MAS).
Coal
CME Lists Two S&P 500 Dividend Index Futures Products
SDI
Level of S&P 500 Annual Dividends

Index at termination of Contract
Reference Period.
Level of S&P 500 Dividend Points

Index at termination of Contract
Reference Period.
Market
Analysis
75
Data
Partners
Other
Contract Size
Minimum Price
Increment
Termination of
Trading
Contract Reference Period: For a given

futures Delivery Month, the interval
terminating on (and including) 3rd Friday
of Delivery Month, and commencing on
(and including) the day next following the
3rd Friday of 3rd month before the
Delivery Month.
Nearest 5 months in March Quarterly
Nearest 6 Decembers
Cycle (Mar, Jun, Sep, Dec)
One Annual Index point equals $250
One Quarterly Index point equals $1,000
0.05 Annual Index points =
0.01 Quarterly Index points =
$12.50 per contract.
$10 per contract.
Regularly scheduled start of trading on Primary Listing Exchanges (8:30am) on 3rd
Friday of contract Delivery Month.
Weather &
Emissions
Delivery Months
Contract Reference Period: For a given

futures Delivery Month, the interval
terminating on (and including) 3rd Friday
of Delivery Month, and commencing on
(and including) the day next following
the 3rd Friday of 12th month before the
Delivery Month.
Finance
Trading Unit
Freight
SDA
Metals
Commodity Code
Softs
Effective November 15, 2015, Chicago Mercantile Exchange Inc. (CME) lists
S&P 500 Annual Dividend Index Futures and S&P 500 Quarterly Dividend Index Futures
contracts for trading on the CME Globex electronic trading platform and for submission for
clearing via CME ClearPort as described below.
S&P 500 Quarterly Dividend
Index Futures
366
Nat Gas
ZEMA also collects financial derivatives data from a wide range of sources. For further information, visit
http://www.ze.com/the-zema-suite/.
S&P 500 Annual Dividend

Index Futures
Rulebook Chapter 365
Editorial
The establishment of ICE Futures Singapore and ICE Clear Singapore supports an
expanded customer base and the further development of the Asian derivatives markets.
In recent years,Asia-based trading activity in ICEs benchmark commodity and interest rate
products has been rising as the region assumes a greater role in global derivatives markets.
Summary
Finance
ICE is the first international exchange group to establish local trading and clearing
infrastructure in Singapore. The first set of ICE Futures Singapore contracts were based on
market feedback and include mini Brent futures, mini gasoil futures, kilo gold futures, mini
onshore renminbi futures and mini offshore renminbi futures.
Delivery Method
By cash settlement, by final mark-to-market with reference to

Final Settlement Price.
Minimum Block
Trade Size
50 contracts
Power
Index value at termination of Contract Reference Period, representing accumulated

ex-dividend amounts of all S&P 500 index constituents during Contract Reference
Period, measured in S&P 500 index points.
US S&P 500 Equity Index ETF Launched on Xetra
Coal
On November 2, 2015, a new equity index fund from the ETF offering issued
by Source has been available on Xetra and the Brse Frankfurt. The ETF tracks
the performance of the S&P 500 Index using a selection of companies comprised in it.
Nat Gas
ZEMA also collects financial derivatives data from a wide range of sources. For further information,
visit http://www.ze.com/the-zema-suite/
Petroleum
Softs
Name: Source S&P 500 UCITS ETF

Asset class: equity ETF
ISIN: DE000A141DW0
Total expense ratio: 0.05 percent
Benchmark: S&P 500 Index
Metals
Weather &
Emissions
ZEMA collects over 300 financial market reports. To learn more about ZEMAs vast data coverage,
Finance
Freight
The Source S&P 500 UCITS ETF enables investors to participate in the performance
of companies that belong to the US equity markets large-cap segment. The S&P 500
reference index comprises companies that have a market capitalisation of more than
USD 5 billion and that are listed on NYSE or Nasdaq. The product offering in Deutsche Brses
XTF segment currently comprises a total of 1,096 exchange traded funds.
Four WisdomTree Equity Index ETFs Launched on Xetra
Data
Partners
Market
Analysis
76
Other
On November 5, 2015, four new exchange-listed index funds issued by

WisdomTree have been tradable on Xetra and Brse Frankfurt. The stock corporations in the
reference indices are weighted according to dividend amount, with those paying a higher
dividend weighted heavier. The new WisdomTree Germany Equity UCITS ETF enables investors
to participate in the performance of German stock corporations that generate at least
20 percent of their earnings outside Germany.
Editorial
Final Settlement
Price
Summary
S&P 500 Quarterly Dividend

Index Futures
Finance
S&P 500 Annual Dividend

Index Futures
Editorial
Power
Petroleum
The WisdomTree Europe Equity UCITS ETF tracks the performance of European stock
corporations with market capitalisation of at least 1 billion and that generate at least
50 percent of their income outside Europe. The weighting of each company in the reference
index is limited to 5 percent. Individual sectors and countries are weighted at a maximum of
25 percent each.
Nat Gas
Name: WisdomTree Europe Equity UCITS ETF- EUR Acc

ISIN: DE000A142K52
Benchmark: WisdomTree Europe Equity Index
Coal
Metals
Freight
Name: WisdomTree Japan Equity UCITS ETF- JPY Acc

ISIN: DE000A142K78
Benchmark: WisdomTree Japan Equity Index
Softs
The two other WisdomTree ETFs enable investors to participate in Japanese stock corporations
that generate at least 20 percent of their income outside Japan. The weighting of companies
in the reference index is limited to 5 percent each, and of individual sectors to 25 percent.
Investors also have a currency-hedged unit asset class to hedge against fluctuations in the
yen against the euro.
Finance
Weather &
Emissions
Name: WisdomTree Japan Equity UCITS ETF- EUR Hedged Acc

ISIN: DE000A142K60
Benchmark: WisdomTree Japan EUR hedged Equity Index
Other
The product offering in Deutsche Brses XTF segment currently comprises a total of
1,100 exchange traded funds. This selection, together with an average monthly trading
volume of around 16 billion, makes Xetra Europes leading trading venue for ETFs.
Data
Partners
77
Market
Analysis
Summary
Finance
Name: WisdomTree Germany Equity UCITS ETF- EUR Acc

ISIN: DE000A142K45
Benchmark: WisdomTree Germany Equity Index
Power
The Market Vectors Morningstar US Wide Moat UCITS ETF will give investors first-time access
to companies that Morningstars analysis of valuations has identified as having a structural
competitive advantage. These promise above-average returns. The 20 US companies in the
reference index cover eight different industries, with consumer staples, industry and
information technology accounting for some 51 percent.
Editorial
On November 09, 2015, a new exchange-listed index fund issued

by Van Eck Global (Europe) has been tradable on Xetra and Brse Frankfurt.
Summary
Finance
Xetra Launches Van Eck Global Equity Index ETF
Petroleum
Nat Gas
Name: Market Vectors Morningstar US Wide Moat UCITS ETFs

ISIN: IE00BQQP9H09
Benchmark: Morningstar Wide Moat Focus Index
Coal
1,101 exchange traded funds.
Softs
New Deka Bond Index ETF Launched on Xetra
Metals
On November 16, 2015, a new bond index ETF issued by Deka Investment
GmbH was launched and available for trading on Xetra and Brse Frankfurt.
Freight
ETF name: Deka Eurozone Rendite Plus 1-10 UCITS ETF

Asset class: bond index ETF
ISIN: DE000ETFL490
Total expense ratio: 0.15%
Distribution policy: distributing
Benchmark: Solactive Eurozone Rendite Plus 1-10 Bond Index
Weather &
Emissions
Other
The product offering in Deutsche Brses XTF segment currently comprises a total of 1,102
exchange traded funds.
Finance
The Deka Eurozone Rendite Plus 1-10 UCITS ETF allows investors to participate for the first
time in the performance of those government bonds with the highest 5-year yield that are
currently issued by six individual countries in the eurozone. The individual government bonds
have an investment grade rating and a residual maturity of 1-10 years. Individual country
weightings are limited to 20 percent.

Data
Partners
Xetra Launches Worlds First Indian Fixed Income ETF

On November 17, 2015, the worlds first Indian fixed income ETF was listed
on Xetra and the Brse Frankfurt. The LAM Sun Global ZyFin India Sovereign Enterprise Bond
78
Market
Analysis
Coal
Contract Title
CME Rulebook
Chapter
VPA; VPQ; VPS
Great British Pound/U.S. Dollar (GBP/USD) Realized Variance

Futures
251J
VJY; VJQ; VJS
Japanese Yen/U.S. Dollar (JPY/USD) Realized Variance Futures 253J
VAY; VAQ; VAS
Australian Dollar/U.S. Dollar (AUD/USD) Realized Variance

Futures
255J
VEA; VEQ; VES
Euro/U.S. Dollar (EUR/USD) Realized Variance Futures
261J
Metals
Commodity Code
Softs
On December 21, 2015, Chicago Mercantile Exchange Inc. (CME)

delisted the four FX variance futures contracts listed in the table below.
Freight
Finance
Weather &
Emissions
Other
CME Globex Ceases Listing Treasury Calendar

Spreads with Non-Standard Ratios
Data
Partners
On November 16, 2015, the Board of Trade of the City of Chicago, Inc. (CBOT) ceased listing
of CBOT Treasury Calendar Spreads with non-standard ratios for the following:
Short-Term U.S. Treasury Note Futures (ZTX)
Medium-Term U.S. Treasury Note Futures (ZFX)
79
Market
Analysis
Nat Gas
CME Delists Four FX Variance Futures
Petroleum
ZEMA also collects financial derivatives data from a wide range of sources. For further information,
visit http://www.ze.com/the-zema-suite/.
Power
Editorial
1,103 exchange traded funds.
Summary
The ZyFin India Sovereign Owned Enterprise Bond Index contains bonds from companies of
national interest that are majority-owned by the Government of India, so-called Sovereign
Owned Enterprises (SOEs). The corporate bonds are denominated in Indian rupees, have an
AAA rating and have a residual maturity between 4 years to 20 years. All the bonds in the
index are equally weighted, and no more than one bond from one company is included in the
index.
Finance
ETF (ISIN IE00BYZ5HD97), jointly issued by ZyFin Holdings Pte. Limited and Sun Global
Investments Limited, tracks the performance of the ZyFin India Sovereign Owned Enterprise
Bond Index. It also is Europes first physically replicating ETF to track the Indian bond market.
Power
Petroleum
Nat Gas
Coal
Market activity in the UDS for Treasury Futures Calendar Spreads with Tails relative to the
non-standard ratio spreads for the September 2015 to December 2015 rollover
demonstrated a preference for the UDS futures calendar spreads. CBOT concluded that it was
no longer necessary to list for trading Treasury Calendar Spreads with non-standard ratios
(ZTX, ZFX, ZNX, ZBX, UBX).
Editorial
Treasury Futures Calendar Spreads were launched in May 2015 with the goal to provide an
exchange-defined ratio spread for market participants experiencing difficulty rolling over
positions using the standard 1:1 Treasury futures calendar spreads due to differences in risk
exposures of the June 2015 and September 2015 Treasury futures contracts. In August 2015,
CBOT launched a more flexible solution that allows for customized user-defined tails. The
User-Defined Spreads (UDS) for CBOT Treasury Futures Calendar Spreads with Tails via CME
Globex enable market participants to customize and create precise calendar spreads
with tail percentages.
Summary
Finance
Long-Term U.S. Treasury Note Futures (ZNX)

U.S. Treasury Bond Futures (ZBX)
Long-Term U.S. Treasury Bond Futures (UBX)

Softs
ICAPs EBS BrokerTec and SGX Sign

Collaboration Agreement
Metals
On November 19, 2015, EBS BrokerTec, ICAPs electronic foreign exchange (FX) and fixed
income business, and Singapore Exchange (SGX), announced the signing of a definitive
agreement to launch SGX listed FX block futures on EBS BrokerTecs FX central limit order
book (CLOB), EBS Market, a primary venue for e-traded currencies.
Weather &
Emissions
Other
EBS BrokerTecs direct connectivity into Titan OTC will provide customers with automated
straight-through-processing for trades matched electronically on EBS Market and SGXs
central clearing will provide increased capital efficiency.
Market
Analysis
80
Data
Partners
SGX trading volumes have increased across its suite of fifteen listed FX futures contracts, in
particular the INR/USD and USD/CNH contracts. Average daily volumes of the INR/USD
contract exceed USD700 million in notional value traded per day. The USD/CNH contract has
surged more than fourfold since inception 12 months ago to exceed USD19 billion in total
Finance
The listed FX block futures will be available on EBS Market in early Q2 2016 pending
regulatory approval. Trades will be cleared through SGXs next generation trade registration
system, Titan OTC. The initial offering will include SGX block futures in INR, KRW, CNH, SGD
and CNY.
Freight
The strategic collaboration between EBS BrokerTec and SGX will bridge the FX
over-the-counter (OTC) and futures markets. The agreement will enable market participants to
seamlessly access an enhanced liquidity pool for trading Asian Spot, NDF and Futures
instruments via the EBS Market.
Power
On October 29, 2015, Shanghai Stock Exchange (SSE), Deutsche Brse Group
and China Financial Futures Exchange (CFFEX) announced their joint venture China Europe
International Exchange (CEINEX) to be launched on November 18, 2015.
Editorial
CFETS, SSE and Deutsche Brse Establish CEINEX
Summary
Finance
notional value traded, helping to establish it as the most liquid offshore RMB futures product
traded across global futures exchanges.
Coal
The new venture is expected to facilitate the opening-up of the financial markets of China and
Europe, promote bilateral economic and trading activities, and facilitate the development of
the European offshore renminbi market.
Nat Gas
CEINEX is the first dedicated platform for authorized RMB-denominated trading outside
mainland China offering new trading opportunities to trade Chinese products.
Petroleum
CEINEX will be trading RMB-denominated offshore products based on Chinese underlyings.

Trading will start with cash market products like ETFs and bonds. All cash market instruments
will be tradable via Xetra, Deutsche Brses cash marketplace.

Softs
ZEMA collects over 300 financial market reports. ZEMA can collect data from any provider worldwide. To learn how ZEMA
can help you track new markets, visit http://www.ze.com/the-zema-solutions/.
Euronext Extends Contract with Luxembourg Stock Exchange
Finance
TMX Group Introduces a New Mutual Funds Platform
Other
By leveraging connectivity, systems and processes well established in the industry, the new
platform will provide registered dealers with easy access to a broad range of investment
funds. Mutual funds posted on the TSX NAVex platform will be visible to all participants who
currently trade TSX-listed equities and ETFs, which coupled with inherent support for bulk
trading, creates a new, efficient distribution channel for mutual fund manufacturers.
Weather &
Emissions
On November 16, 2015, TMX Group announced expansion of its services

into a new business area that will extend the efficiencies of equities trading and settlement to
the mutual fund industry. The TSX NAVex Platform will facilitate purchases and redemptions of
mutual funds using TMXs proven equities trading, clearing and settlement infrastructure.
Data
Partners

81
Market
Analysis
Freight
Metals
On November 26, 2015, Euronext announced that it has signed a three-year

contract with the Luxembourg Stock Exchange (LuxSE) to provide trading platform
hosting and technology services for market management. The contract allows LuxSE to
outsource its technology needs while focusing on client satisfaction and product innovation.
This new contract enables LuxSE to outsource a significant layer of complexity and cost, while
taking advantage of Euronexts investments in technology upgrades and infrastructure.
Editorial
Power
Petroleum
The deal will expand Nasdaqs North American equities trading business beyond the U.S.,
where Nasdaq currently operates multiple trading venues in cash equities, options,
commodities, fixed income and other financial instruments. The acquisition will ultimately
enhance the trading experience for customers by promoting greater uniformity in technology
and functionality across U.S. and Canadian trading venues.
Summary
On December 8, 2015, Nasdaq announced that it will acquire Chi-X Canada,

an Alternative Trading System for Toronto Stock Exchange (TSX) and TSX Venture Securities,
from Chi-X Global. The acquisition will provide Nasdaq with direct access to the Canadian
equities market. The deal is expected to close in the first quarter of 2016, and be accretive to
the companys earnings at closing, excluding transaction-related costs.
Finance
Nasdaq to Acquire Chi-X Canada
Nat Gas
Coal
Chi-X Canadas two platforms, Chi-X Canada and CX2, are the only equity trading venues in
Canada to offer fully-customizable smart order routing to all market centers, and offer two
trading models: post-trade attribution and advanced order types. Both also provide trade
reporting, risk management tools and direct connectivity. Subject to customary regulatory
approvals, Nasdaq will acquire Chi-X Canada for an undisclosed amount. The acquisition is
expected to be accretive to the companys earnings at closing, excluding transaction-related
costs, to deliver attractive returns on capital, and should have no material impact on
Nasdaqs financial leverage or capital return strategy.
Softs

Metals
SGX Launches Trading Venue for Asian Bonds

On December 10, 2015, Singapore Exchange (SGX) announced the launch
of SGX Bond Pro, the first Over-The-Counter (OTC) trading venue dedicated to Asian bonds.
Freight
The secondary Asian bond market faces an institutional liquidity challenge as a result of
increasing fragmentation and concerns among participants of information leakage and
subsequent market impact resulting in a prevalence of small trade sizes. SGX Bond Pro aims
to address this through features that re-aggregate liquidity, provide enhanced protections for
institutional investors and encourage larger trade sizes.
Weather &
Emissions
Data
Partners
82
Market
Analysis
Other
SGX Bond Pro began trading Asian corporate bonds in G3 currencies, with Asian local
currencies to follow.
Finance
SGX Bond Pro has been established under SGXs subsidiary, SGX Bond Trading (SGX BT), a
licensed Recognized Market Operator. It connects buyers and sellers of Asian bonds and
provides them with multiple trading protocols that cater to their liquidity needs. The trading
protocols were developed in consultation with the industry to facilitate how participants,
including accredited investors such as global asset managers, private and investment banks,
want to access liquidity.
Editorial
Power
Petroleum
Nat Gas
Foreca Ltd. announced that in October 2015, it signed an agreement with

BMW AG to provide a premium weather service for BMW drivers in more than
40 countries worldwide.
Summary
Foreca Launches Connected Car Weather Services for BMW
Metals
Freight
Finance
The ZEMA graph below demonstrates historical temperatures in various U.S. cities,
as reported by AccuWeather. Book demo at ze.com to learn how ZEMA can help with any type
of analysis.
Softs
Coal
Foreca provides the BMW Group accurate digital weather forecast data, which is delivered to
the drivers via BMW's ConnectedDrive Infotainment system. Drivers are able to assess the
weather conditions both at their current location and at the final destination of their journey.
Forecast data can be provided for any location in the world. There are several ways to access
the weather information via BMW ConnectedDrive: It is shown on the navigation map and as
an Infotainment widget with a detailed current day view and a 5-day outlook. Additionally,
users can view weather radar images or play an animation to see where it is raining or snowing
at that particular time.
Weather &
Emissions
Other
Data
Partners
Data Source: AccuWeather

83
Market
Analysis
Power
Petroleum
Nat Gas
The R1 billion nine-year IFC green bond was issued at a yield of 8.72%. Since 2010, IFC has
raised funds for renewable energy and energy efficiency projects in other emerging market,
such as India and China. As of November 2015, IFC had issued nearly $4.5 billion in green
bonds globally.
Editorial
IFC is the first multilateral organization to list a green bond on the JSE and the fourth entity to
list a bond dedicated to funding private sector investments focused on renewable energy and
energy efficiency. The listing of the IFC green bond follows a similar and successful issuance
of R 1.46 billion ($140 million) bond issued by the City of Johannesburg last year where the
proceeds were used to fund green initiatives within South Africas largest city.
Summary
On December 10, 2015, IFC, a member of the World Bank Group, issued its
first rand denominated domestic bond on the Johannesburg Stock Exchange on its Primary
Debt Market.
JSE Adds IFC Green Bond

Coal
ICE Launches New Environmental Contracts
Finance
Weather &
Emissions
Other
Data
Partners
Market
Analysis
84
Freight
Metals
California Carbon Allowance Future - Vintage 2019

California Carbon Allowance Future - Vintage 2020
Option on California Carbon Allowance Future - Vintage 2019
Option on California Carbon Allowance Future - Vintage 2020
Cross State Air Pollution TR NOx Annual Allowance Future - Vintage 2016
Option on Cross State Air Pollution TR NOx Annual Allowance Future - Vintage 2016
Cross State Air Pollution TR NOx Ozone Season Allowance Future - Vintage 2016
Option on Cross State Air Pollution TR NOx Ozone Season Allowance Future - Vintage 2016
Cross State Air Pollution TR SO2 Group 1 Allowance Future - Vintage 2016
Option on Cross State Air Pollution TR SO2 Group 1 Allowance Future - Vintage 2016
Cross State Air Pollution TR SO2 Group 2 Allowance Future - Vintage 2016
Option on Cross State Air Pollution TR SO2 Group 2 Allowance Future - Vintage 2016
Massachusetts Compliance Renewable Energy Certificates Class 1 Vintage Future Vintage 2019
New Jersey Compliance Renewable Energy Certificates Class 1 Vintage Future Vintage 2019
New Jersey Compliance Renewable Energy Certificates Class 1 Vintage Future Vintage 2020
Softs
Intercontinental Exchange (NYSE:ICE), announced the introduction of

new cash settled environmental contracts on December 14, 2015, subject to the satisfactory
completion of applicable regulatory processes. Contracts will be traded on ICE Futures U.S.
and cleared at ICE Clear Europe.
D6 Ethanol RINs (Argus) 2016 Futures
Rule Chapter
1303
1305
Commodity Code
D46
D66
Trading and Clearing

Venues
CME Globex, CME ClearPort
CME Globex, CME ClearPort
Listing Schedule
All months including and between

January 2016 February 2018
All months including and between

January 2016 February 2018
Contract Size
50,000 RINs
50,000 RINs
Settlement Method
Financial
Financial
Minimum Price
Fluctuation
0.0001
0.0001
Value per Tick
$5.00
$5.00
First Listed Contract
January 2016
January 2016
Block Trade Minimum

Threshold
5 contracts
5 contracts
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)
Coal
D4 Biodiesel RINs (Argus) 2016

Futures
Softs
Metals
Freight
Finance
Weather &
Emissions
Other
Data
Partners

ZEMA collects multiple environmental data reports. To learn more about ZEMAs vast data coverage, visit
http://www.ze.com/the-zema-solutions/data-coverage/
85
Market
Analysis
Nat Gas
Contract Title
Petroleum
Effective December 20, 2015, pending all relevant CFTC regulatory review periods,
New York Mercantile Exchange, Inc. (NYMEX) lists two new cash-settled Renewable
Identification Number (RIN) futures contracts for vintage year 2016 for trading on CME Globex,
and for submission for clearing through CME ClearPort.
Power
NYMEX Adds Two Renewable Identification

Number (RIN) Futures
Editorial
ZEMA is equipped with advanced data collection capabilities, and has the capacity to collect all environmental data
reports. To learn more, visit http://www.ze.com/the-zema-solutions/.
Summary
Regional Greenhouse Gas Initiative Future - Vintage 2017

Option on Regional Greenhouse Gas Initiative Future - Vintage 2017
Rulebook Chapter
California Carbon Allowance (CCA) Futures
CCA
1273
California Carbon Allowance (CCA) Option
CAO
1274
Nat Gas
The futures contract was listed for trading on CME Globex and for submission for clearing via
CME ClearPort; the option contract was listed for trading on CME Globex and the NYMEX
trading floor as well as for submission for clearing via CME ClearPort. There was no open
interest in the contracts.
Petroleum
Clearing Code
Power
Contract Name
Editorial
Effective November 9, 2015, New York Mercantile Exchange, Inc. (NYMEX)

delisted two California Carbon Allowance (CCA) products:
Summary
NYMEX Delists California Carbon Allowance (CCA)

Futures and Options

Coal
CME Delists Some Monthly & CDD Weather

Futures and Options
AUK / AUK
WASHINGTON REAGAN INTL SEASONAL MAY CDD FUTURES
AUK / -
WASHINGTON REAGAN INTL SEASONAL MAY CDD OPT
K6 / K6
K6 PHILIDELPHIA CDD FUTURES
K6 / -
K6 PHILIDELPHIA CDD OPTIONS
K6K / K6K
PHILADELPHIA COOLING SEASONAL STRIP FUTURES
K6K / -
PHILADELPHIA COOLING SEASONAL STRIP OPTIONS
K6N / K6N
PHILADELPHIA COOLING SEASONAL STRIP FUTURES
K6N / -
PHILADELPHIA COOLING SEASONAL STRIP OPTIONS
K7 / K7
K7 PORTLAND CDD FUTURES
86
Market
Analysis
Data
Partners
WASHINGTON REAGAN NATIONAL MONTH OPTIONS
Other
AU / -
Weather &
Emissions
WASHINGTON REAGAN AIRPORT MONTH FUTURES
Finance
AU / AU
Freight
Title
Metals
Code Clearing / Globex
Softs
Effective November 9, 2015, CME delisted several products from CME Globex,
CME ClearPort and the CME trading floor due to the absence of any open interest:
K8 / K8
K8 TUCSON CDD FUTURES
K8 / -
K8 TUCSON CDD OPTIONS
K8K / K8K
TUCSON COOLING SEASONAL STRIP FUTURES
K8K / -
TUCSON COOLING SEASONAL STRIP OPTIONS
K9 / K9
K9 DES MOINES CDD FUTURES
K9 / -
K9 DES MOINES CDD OPTIONS
K9K / K9K
DES MOINES COOLING SEASONAL STRIP FUTURES
K9K / -
DES MOINES COOLING SEASONAL STRIP OPTIONS
KV / KV
BALTIMORE MONTHLY CDD FUTURES
KV / -
BALTIMORE MONTHLY CDD OPTIONS
KVK / KVK
BALTIMORE COOLING SEASONAL STRIP FUTURES
KVK / -
BALTIMORE COOLING SEASONAL STRIP OPTIONS
KW / KW
BOSTON MONTHLY CDD FUTURES
KW / -
BOSTON MONTHLY CDD OPTIONS
KWK / KWK
BOSTON SEASONAL STRIP CDD FUTURES
KWK / -
BOSTON SEASONAL STRIP CDD OPTIONS
Weather &
Emissions
PORTLAND COOLING SEASONAL STRIP OPTIONS
Finance
K7M / -
Freight
PORTLAND COOLING SEASONAL STRIP FUTURES
Metals
K7M / K7M
Softs
PORTLAND COOLING SEASONAL STRIP OPTIONS
Coal
K7K / -
Nat Gas
PORTLAND COOLING SEASONAL STRIP FUTURES
Petroleum
K7K / K7K
Power
K7 PORTLAND CDD OPTIONS
Editorial
K7 / -
Summary
Title
Code Clearing / Globex
Other
Data
Partners
87
Market
Analysis
Power
Petroleum
Nat Gas
Coal
Softs
These reports, along with many others added to ZEs data library, have been implemented in
response to a need for greater data coverage by ZEMA clients.
Editorial
Since the last issue of DataWatch, ZE has added multiple data reports, including reports
published by Argus, CFTC, CIMT, CME, EIA, Manitoba Government, USDA, and others. The
largest portion of this addition came from Argus with mainly spot and futures petroleum
assessments series developed for the U.S. markets. ZEMA also added EIA reports including
Crude Oil Movement by Rail and U.S. Inputs and Production data. New weather reports from
CME (Europe temperature), CDWR (precipitation), Manitoba Government (Crop weather), and
UWYO. Electricity markets got more coverage from CFE (Mexico power prices), ERCOT (System
Ancillary Service Capacity Monitor), RTE France, and SNL.
Summary
ZE PowerGroup Inc. (ZE) continues following on the most recent data events and keeps
updating its database with data reports streamed from various data providers.
ZEMA Adds Petroleum, Electricity, Natural Gas, Softs, and Weather Data
in November and December 2015
To see the full list of ZEMA data providers, visit ZEs Data Coverage.
Metals
Freight
PEGAS: New locational products for Germany and France
Data
Partners
88
Market
Analysis
Other
PEGAS actively supported national regulatory authorities and grid operators in designing the
best possible market model to implement the EU Network Codes on physical and locational
gas balancing. PEGAS achieved a pan-European platform which can be used by GASPOOL
and GRTgaz today, but also by other TSOs in the future.
Weather &
Emissions
As a result, GASPOOL and GRTgaz will be able to perform balancing actions directly on the
existing PEGAS Trayport ETSSM trading screen which has been adapted accordingly. The new
products are listed on the PEGAS spot market, allowing all current PEGAS members to easily
join in. Transactions will be cleared through European Commodity Clearing (ECC).
Finance
Leipzig, Paris, 16 November 2015 PEGAS, the pan-European gas trading platform
operated by Powernext, will introduce locational spot products on 17 November 2015 . These
new products support the physical balancing of French Transmission System Operators (TSO)
and German Market Area Manager (MAM).
Coal
Softs
Metals
Freight
Finance
Weather &
Emissions
Other
Success of 15-Minute Contracts Reveals Potential for Further Auctions
Market
Analysis
89
Data
Partners
Vienna / Paris, 8 December 15 At the quarterly meeting of the Exchange Council of the
European Power Exchange in Vienna, the success of the 15-minute auction on the German
Intraday market was highlighted. Since its introduction in December 2014, volumes have
experienced constant growth. In the past months the auction has pooled as much volume as
Nat Gas
Powernext is a regulated market operating under AMF supervision. Powernext manages the
natural gas activities of the EEX Group under the PEGAS brand throughout Europe, and operates the National Registry for electricity guarantees of origin in France. For more information:
www.powernext.com
Petroleum
EEX Group provides the central market platform for energy, energy related and commodity
products and enables access to a network of over 400 trading participants. The offering of the
group comprises contracts for Energy, Environmentals, Freight, Metals and Agriculturals listed
at the European Energy Exchange, EPEX SPOT (incl. APX-Belpex), Powernext, Cleartrade
Exchange and Gaspoint Nordic. Clearing and settlement of transactions concluded or
registered on the exchanges is provided by the central clearing house European Commodity
Clearing. EEX is part of Deutsche Brse Group. For more information: www.eex.com
Power
PEGAS is the central gas trading platform of EEX Group operated by Powernext. PEGAS
provides its members with access to all products on one single platform and allows them to
trade natural gas contracts in the Belgian, Dutch, French, German, Italian and UK market
areas. The product range of PEGAS covers spot and derivatives contracts for the major
European gas hubs as well as trading in location spread products between these market
areas. This setup enables market harmonisation and forms the leading pan-European natural
gas market. For more information: www.pegas-trading.com
Editorial
Egbert Laege, CEO of Powernext, adds: PEGAS is dedicated to serving the physical gas
trading community. PEGAS is already the balancing platform chosen by many Market Area
Managers and Transmission System Operators on TTF, NCG, GASPOOL, PEG Nord and TRS.
We are delighted that GASPOOL and GRTgaz also chose PEGAS for their locational balancing
operations. Moreover, beyond this first step, we will extend our offer by launching locational
contracts for NCG and TIGF in 2016. We believe that this paves the way for other TSOs to join
the initiative.
Summary
Thierry Trouv , CEO of GRTgaz, mentions: For GRTgaz, PEGAS is the logical partner of choice
to develop these new balancing products. Its important for GRTgaz to have a one-stop shop in
Europe where physical market players and TSOs can meet to perform their balancing.
Jrg Ehmke , Managing Director of GASPOOL, states: By using PEGAS for trading of locational
balancing products, the order and price transparency will further increase and thereby more
market participants will be interested to join these balancing products.
Softs
Metals
Freight
Finance
Weather &
Emissions
Other
Data
Partners
Market
Analysis
90
Coal
Nat Gas
The Exchange Council of EPEX SPOT is an official body of the Exchange. 22 members and
4 permanent guests represent adequately the diversity of economic and corporate profiles
that exists among the Exchange Members from various sectors: producers, power trading
companies, transmission system operators, regional suppliers and financial service providers,
as well as commercial consumers and academics. Its missions include in particular the
adoption of the Exchange Rules and the Code of Conduct of EPEX SPOT and their
amendments. The Exchange Council approves new trading systems as well as new contracts
or market areas and approves the appointment of the Head of the Market Surveillance Office.
It meets up quarterly.
Petroleum
The fourth Exchange Council meeting in 2015 was held on 4 December 2015 in Vienna and
was chaired by Peter Heydecker.
Power
The closer relations with TSOs will further strengthen the long-lasting cooperation for the
creation of a single European power market, says Jean-Franois Conil-Lacoste, Chairman
of the Management Board of EPEX SPOT. We now have a balanced governance with strong
roots on the Exchange side through EEX and Deutsche Brse and, on the other hand, with our
specific electricity sector through the TSO shareholders.
Editorial
Recently, some new shareholders have entered the capital of the European Power Exchange
and the Exchange Council was informed about these evolutions. The transmission system
operators (TSOs) Amprion in Germany, APG in Austria and Swissgrid in Switzerland have
purchased shares in the TSO holding HGRT. They join Elia (Belgium), RTE (France) and TenneT
(Netherlands). HGRT now reunites the majority of the Western European TSOs from the
countries in which EPEX SPOT operates power markets. HGRT holds 49% of the capital of
EPEX SPOT.
Summary
Demand response is a crucial element of a sustainable energy market. As variations on the

supply side become increasingly important due to the integration of vast amounts of
intermittent renewable capacities, it is of paramount importance for the supply/demand
balance that demand becomes more reactive. A new regulatory framework is needed to allow
the participation of demand response resources on the wholesale market using the existing
products. This in turn should limit curtailments and allow demand response aggregators to
value their services. The Exchange Council is calling for such development on the European
power market and considers that the contribution of power exchanges in this regard as
a key element.
the continuous 15-minute market on average more than 10 GWh are traded per trading
session. The sum of both 15-minute continuous and auction volumes in October 2015 shows
a 42% increase in 15-minute contract trading compared to October 2014, while similar
amount of energy from solar and wind have been generated during these two months.
Moreover, since the auction go-live, the share of 15-minute products traded on the EPEX
SPOT intraday markets has been increasing from 18% to 24% of the total Intraday volume. In
the light of this success, EPEX SPOT is investigating the interest of the market and analysing
the potential additional auctions on its Intraday markets.
Editorial
Power
Petroleum
Nat Gas
Freight
Finance
Weather &
Emissions
Other
Data
Partners
Market
Analysis
91
Metals
A NEMO designated in one member state can operate power spot markets in other
European countries, using its NEMO status as a passport. EPEX SPOT plans to make use
of this passport to offer services in new markets beyond its existing core in Central Western
Europe and the UK. We are proud to be NEMO for Day-Ahead and Intraday markets in all the
countries we applied, says Jean-Franois Conil-Lacoste, Chairman of the Management Board
of EPEX SPOT. The CACM Regulation creates a new level playing field for NEMOs in Europe.
Softs
NEMO is a new status created by this Regulation which establishes a set of harmonised rules
in particular for Market Coupling, which allocates cross-border transmission capacity more
efficiently by combining it with energy transactions on power exchanges. The CACM
Regulation provides a new framework now clearly defining the tasks and obligations of the
transmission system operators and Power Exchanges designated as NEMOs. What has been
carried out in the past on a voluntary basis and with a cooperative spirit has now become
European law, says Wolfram Vogel, Director Public & Regulatory Affairs of EPEX SPOT. The
new Europe-wide arrangements under CACM will build on and eventually replace the existing
market coupling solutions. This process is likely to take one to two years to complete.
Coal
Amsterdam / Bern / Brussels / Leipzig / London / Paris / Vienna, 15 December 2015

The European Power Exchange EPEX SPOT has been designated by the national regulatory
authorities in the EU members states Germany, France, Great Britain, the Netherlands, Austria
and Luxembourg as Nominated Electricity Market Operator (NEMO). The EU Regulation
establishing a guideline on Capacity Allocation and Congestion Management (CACM), in force
since 14 August 2015, obliges all EU member states to officially designate an Electricity
Market Operator for the Day-Ahead and Intraday markets within four months. Its objective is
to promote effective competition in the generation, trading and supply of electricity, to ensure
the optimal use of the transmission system while respecting the need for a fair and orderly
market and price formation. The decision by the Belgian national authority to designate a
NEMO is expected soon. Switzerland, also covered by EPEX SPOT but not being part of the
European Union, has not implemented the EU Regulation for the time being.
Summary
European Power Exchange to Extend its Services

to Other European Regions
The European Power Exchange EPEX SPOT SE and its affiliates APX and Belpex operate
organised short-term electricity markets for Germany, France, United Kingdom, the
Netherlands, Belgium, Austria, Switzerland and Luxembourg; markets representing 50% of
European electricity consumption. Striving for the well-functioning European single market
for electricity, EPEX SPOT shares its expertise with partners across the continent and beyond.
EPEX SPOT is a European company (Societas Europaea) in corporate structure and staff,
based in Paris with offices or affiliates in Amsterdam, Bern, Brussels, Leipzig, London and
Vienna. More than 280 companies trade annually over 500 TWh of electricity on EPEX SPOT
and its affiliates. EPEX SPOT is held by EEX Group, part of Deutsche Brse, and HGRT, a
holding of European electricity transmission system operators. For more information, please
visit www.epexspot.com
Power
Petroleum
Nat Gas
Coal
The specifications are coal with an average heat content of 11,800 Btu/lb and sulfur content
of 5 lbs SO2/MMBtu, with delivery on the lower Ohio River. The prices will be reported in
US dollars per short ton. Please address any questions or comments by December 31 to
coal@platts.com and pricegroup@platts.com.
Editorial
Effective January 4, 2016, Platts plans to launch daily physical assessments of Illinois Basin
11,800 Btu/lb FOB barge coal. The assessments will reflect the daily market value as of
2:30 PM Eastern prevailing time for two front months, three forward quarters and one forward
calendar year, and will be published daily in Platts Coal Trader.
Summary
Platts to Launch Daily Illinois Basin Coal Price
We welcome the opportunity to use the passport and increased competition among NEMOs
that comes with it. Competition will help triggering innovation that best serves the needs of
the market.
Softs
Platts Proposes to Begin Assessing North Sea Crude Grane Blend
Metals
Effective April 1, 2016, Platts proposes to begin assessing the North Sea crude oil known as
Grane Blend. Following upstream developments tied back to the Granes existing
infrastructure, the grades volume and quality are both in the process of changing. The
resulting grade will be composed of the existing Grane crude oil and Edvard Grieg crude oil.
Grane is 36.66% owned by Statoil, 28.94% Petoro, 28.22% ExxonMobil and 6.17%
ConocoPhillips. Grane production prior to the startup of Edvard Grieg was around 75,000 b/d
of oil equivalent.
Freight
Edvard Grieg is 50% owned by Lundin (operator), 20% OMV, 15% Wintershall and 15%
Statoil. Plateau production is expected to be around 100,000 boe/d. Read the
subscriber note.
Finance
Weather &
Emissions
Platts is seeking feedback on its proposal to launch the new assessment of Grane Blend.
Please send any comments and queries to europe_crude@platts.com and
pricegroup@platts.com by January 4, 2016.
Other
Platts to Include Al Shaheen, Murban in Mid East Crude Benchmarks
92
Market
Analysis
Data
Partners
Following extensive feedback and market engagement, Platts intends to move ahead with the
proposed inclusion of Al Shaheen and Murban in its Dubai and Oman crude oil benchmarks,
and will continue to review the potential inclusion of a Quality Premium for Murban.
Power
Petroleum
Nat Gas
Read the subscriber note for the full methodology updates.
Other
Data
Partners
Market
Analysis
93
Weather &
Emissions
South Africa is usually self-sufficient in jet fuel, but relies on imports mostly from the
Mideast Gulf or the west coast of India when refineries are shut down for maintenance. Until
now, the market has lacked an independent price reference that buyers and sellers of jet fuel
can use when negotiating term supply contracts at the key OR Tambo Johannesburg aviation
hub, which is connected to Durban by pipeline.
Finance
The jet fuel c+f (cost and freight) Durban cargo price can be found in the daily Argus Jet Fuel
and Argus Asia-Pacific Products reports, and is based on the jet fuel price in the Mideast Gulf,
adjusted for the cost of transportation of 35,000t jet fuel cargoes from the Mideast Gulf to the
key South African import location of Durban, as assessed in the daily Argus Freight report.
Freight
To help bring clarity to this trade, global energy and commodity price reporting agency Argus
launched a daily price index on 9 November for jet fuel delivered to Durban, South Africa, as
an import-parity reference price for jet fuel suppliers, trading firms and airlines operating in
the region.
Metals
For gasoline or diesel these import-parity prices are enshrined in the government-mandated
Basic Fuel Price (BFP) formulas, which govern prices at the pump. But the market for jet fuel is
unregulated, and each supplier has developed its own version of the BFPs, meaning
competition is hard to judge and airlines have difficulty comparing bids received in their fuel
buying tenders.
Softs
South Africas distance from the worlds large oil producing and refining centres has meant
that a system of import-parity pricing has developed, where domestic fuels are priced
according to the marginal price of replacing them with supply from international trading hubs
in Europe, the Middle East or Asia-Pacific.
Coal
Argus Brings Clarity to South African Jet Fuel Pricing
Editorial
Accordingly, Platts intends to reflect bids and offers for Dubai and Oman reflecting these new
standards effective January 4, 2016, the first publishing day of the year. As a result, these
standards will take effect for cargoes loading from March 2016, the prompt traded spot
month in January 2016. January and February partials and cargoes will continue to be
assessed under prevailing standards. The full September consultation can be reviewed here.
Summary
Platts has received broad support for the proposed addition of the two crudes following the
launch of a formal consultation opened by Platts around the proposal on September 3. There
has been strong support for adding these alternative delivery crudes promptly, to ensure
significant volumes of crude for delivery continue to underpin the Dubai and Oman
benchmarks through 2016 and beyond.
Platts has widely engaged on these proposals with stakeholders representing a full range of
market and industry participants in Asia, the Middle East and Europe.
Power
Petroleum
London
Seana Lanigan
+44 20 7780 4272
seana.lanigan@argusmedia.com
Editorial
Contact Information
Summary
Argus is committed to boosting energy price transparency in Africa, publishing more African
crude price assessments than any other agency and having this year become the first
international price reporting organisation to publish delivered prices in west Africa for
gasoline, diesel and gasoil in its daily Argus West Africa Oil report.
Argus Media executive chairman and publisher Adrian Binks said: Argus is pleased to be the
first global price reporting organisation to publish a South African price reference for jet fuel,
and to bring transparency to the rapidly growing African aviation market.
Nat Gas
Coal
Softs
Metals
Freight
Finance
Weather &
Emissions
Other
Data
Partners
94
Market
Analysis
Editorial
Summary
Power
Petroleum
North American Daily Temperature (AccuWeather)
Nat Gas
Coal
Softs
Metals
During December 2015, the temperature seasonally dropped in Chicago at timers reaching
-10 C. In New York, while fluctuating, it remained above the freezing point. San Diego hardly
noticed any winter signs with temperature remaining steady around 10C. San Antonio
experienced a significant drop (by almost 20 degrees) to almost zero following the Boxing Day
and after that staying low.
Freight
The ZEMA graph shows daily temperatures for December 2015, according to AccuWeather,
for San Diego (red line), Chicago (green line), San Antonio (black line), and New York City (blue
line). The temperatures are in degrees Celsius.
Finance
Weather &
Emissions
Other
Data
Partners
95
Market
Analysis
Editorial
Summary
Power
Petroleum
North American Electricity Day-Ahead Prices (ICE)
Nat Gas
Metals
Freight
An unusual price decrease in Zone A of NIYSO, even during the holidays despite slightly colder
weather in New York also supported by climbing natural gas prices, was likely supported by
ample generation and healthy transmission capacity.
Softs
The noticeable electricity price increase starting December 24th in SP15 cannot be explained
by seasonal temperature changes since it remained steadily warm in Southern California. It is
likely that the holiday season boosted the demand driving prices up.
Coal
The ZEMA graph shows day-ahead peak electricity prices for December 2015, as reported by
ICE. The red line represents CAISO SP15, the green line represents PJM APS Zone, the purple
line represents ERCOT North 345KV, and the blue line represents NYISO Zone A. Units are in
USD/MWh.
Finance
Weather &
Emissions
Other
Data
Partners
96
Market
Analysis
Editorial
Summary
Power
Petroleum
North American Natural Gas Spot Prices (NYMEX)
Nat Gas
Coal
Softs
The ZEMA graph shows the North American natural gas spot prices on NYMEX for Henry Hub,
Transco Zone 6, PG&E Citygate, and Chicago Citygates for December 2015. Units are in
USD/MMBtu.
Metals
There was nothing unusual in the natural gas prices behavior with the arrival of winter. Prices
continues climbing up throughout the month on all hubs. Transco 6, however experienced
some relief in the middle of the month with prices dropping below 4 USD/MMBtu. This trend,
however was interrupted in the last days of the year with the prices skyrocketing above
6 USD/MMBtu.
Freight
Finance
Weather &
Emissions
Other
Data
Partners
97
Market
Analysis
Editorial
Summary
Power
Petroleum
Crude Oil Brent vs. WTI Forward Curve (NYMEX)
Nat Gas
Softs
The curves for the both benchmarks have shifted up by almost 15 USD/bbl over the last
month indicating that traders expect crude prices recovery in the near future and afterwards.
Coal
The ZEMA graph shows December Brent and WTI forward curves in comparison to the previous
months forward curves, based on NYMEX average settle prices. Units are in USD/bbl.
Metals
Freight
Finance
Weather &
Emissions
Other
Data
Partners
98
Market
Analysis
Editorial
Summary
Power
Petroleum
Gold and Silver Daily Prices (CME)
Nat Gas
Metals
Freight
About ZE PowerGroup Inc.:

ZE is an experienced software and strategic consulting firm that combines energy industry expertise with advanced
software development capabilities. ZE is the developer of ZEMA, a sophisticated enterprise data management and
analysis solution built to meet the challenges of participants in energy and commodities markets.
Softs
The both metals remained very volatile during the last two months following the overall
downward trend. Facing some of the most bearish times ever (similar to the oil markets), gold
and silver are underperforming most commodities.
Coal
The ZEMA graph shows gold and silver daily prices as traded on CME in November - December
2015. The orange line represents COMEX 100 Gold (USC/toz), the blue line represents
COMEX 5000 Silver (USC/toz), the yellow line represents the gold 7-day moving average, and
the light blue line represents the silver 7-day moving average.
Finance
About ZEMA:
ZEMA is an enterprise data management software designed for collecting data and performing complex analysis.
ZEMA replaces fragmented data management processes with a sophisticated, unified, and automated system. Each
ZEMA component is modular and scalable, giving clients greater flexibility when integrating it into their organizations.
The solution is easy to use and backed by ZEs support team around the clock. It has been ranked first in the Energy
Risk Awards Data Management House of the Year category for five years in a row. In Energy Risks annual software
survey and rankings, it is also consistently rated by end users as first in the Preferred System, Ease of System
Integration, and Customer Service categories.
Weather &
Emissions
Disclaimer:
ZE DataWatch is a report comprised of data updates and expectations for energy and commodities markets, powered
by ZEMA. The news contained in ZE DataWatch is for information purposes only. Although ZE PowerGroup believes
the information in this report to be correct, the organization does not warrant the accuracy or completeness of it.
Other
Information in this report is not intended to provide financial, legal, accounting, or tax advice and should not be relied
upon in that regard. ZE PowerGroup is not responsible in any manner whatsoever for direct, indirect, special, or
consequential damages, howsoever caused, arising out of the use of this report.
Data
Partners
99
Market
Analysis

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