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European FAME 0 Biodiesel fob ARA (RED Compliant) (Argus) vs. European Low Sulphur Gasoil (ICE) Calendar Month Spread Future Contract Specs

Contract Unit 100 metric tons
Price Quotation Quoted in U.S. Dollars and cents per metric ton
Trading Hours Sunday - Friday 23:00 hours - 22:00 hours London time. Friday close at 22:00 hours and reopens at 23:00 hours London time on Sunday.
Minimum Price Fluctuation CME Globex: Quoted in multiples of $0.25 per metric ton ($25 per Contract).
CME ClearPort: Quoted in multiples of $0.001 per metric ton ($0.10 per Contract).

The Daily Settlement Price fluctuation is $0.001 per metric ton.

The minimum Final Settlement Price fluctuation is $0.001 per metric ton
Product Code CME ClearPort: UBD
Clearing: UBD
Listed Contracts Consecutive calendar months for the balance of the current calendar year and thereafter consecutive calendar months for one additional full calendar year
Settlement Method Financially Settled
Termination Of Trading Trading terminates on the last Business Day of the Contract month at 16:30 hours London time
Settlement Procedures Settlement prices established at 17:30 hours London time

For Contract months up to and including December 2014, the Final Settlement Price shall be equal to the mean of the midpoint between the high and low quotations published on a daily basis by Argus Media for “RED FAME 0°C CFPP fob ARA range” for each Business Day that it is determined during the Contract month, minus the mean of the ICE Gasoil Futures first nearby contract settlement price for each Business Day that it is determined during the Contract month (using non-common pricing), except as noted below.
For Contract months from January 2015 and onwards, the Final Settlement Price shall be equal to the mean of the midpoint between the high and low quotations published on a daily basis by Argus Media for “RED FAME 0°C CFPP fob ARA range” for each Business Day that it is determined during the Contract month, minus the mean of the ICE Low Sulphur Gasoil Futures first nearby contract settlement price for each Business Day that it is determined during the Contract month (using non-common pricing), except as noted below.

The settlement prices of the first nearby ICE Gasoil Futures Contract month or first nearby ICE Low Sulphur Gasoil Futures Contract month, as appropriate, will be used except on the last day of trading for the expiring gasoil futures contract when the settlement prices of the second nearby ICE Gasoil Futures Contract month or second nearby ICE Low Sulphur Gasoil Futures Contract month, as appropriate, will be used
Exchange Rulebook CME Europe Limited Contract Module Chapter BA01
Block Minimum Ten (10)
Vendor Codes Quote Vendor Symbols Listing