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Soybean Oil (CBOT) vs. European Low Sulphur Gasoil (ICE) Modified Calendar Month 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 is $0.001 per metric ton
Product Code CME ClearPort: BOG
Clearing: BOG
Listed Contracts 24 consecutive calendar months
Settlement Method Financially Settled
Termination Of Trading Trading terminates on the second to last CBOT 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 month up to and including December 2014, the Final Settlement Price shall be equal to the arithmetic average of the settlement price for the CBOT Soybean Oil Futures contract delivery month which is the first delivery month available immediately following the Contract month for each Business Day that is determined during the settlement period minus the ICE Gasoil Futures first nearby contract settlement price for each Business Day that it is determined during the settlement period (using non-common pricing), except as noted below.

For Contract month from January 2015 and onwards, the Final Settlement Price shall be equal to the arithmetic average of the settlement price for the CBOT Soybean Oil Futures contract delivery month which is the first delivery month available immediately following the Contract month for each Business Day that is determined during the settlement period minus the ICE Low Sulphur Gasoil Futures first nearby contract settlement price for each Business Day that it is determined during the settlement period (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.

The period in the Contract month from and including the first calendar day of the month, to and including the second last CBOT Business Day in the Contract month
Exchange Rulebook CME Europe Limited Contract Module Chapter CA01
Block Minimum Five (5)
Vendor Codes Quote Vendor Symbols Listing