| Product Code |
Ticker: FZE
Clearing: 71 |
| Contract Size |
14,500 gallons (half of one futures contract) |
Tick Size
(minimum fluctuation) |
$0.0001 per gallon ($1.45 per contract) |
| Contract Months |
For each listed Ethanol futures contract, a forward month swap is listed, with an expiration date one month prior to the corresponding futures contract. I.e., if a March 2009 Ethanol futures contract is listed, then a February 2009 Ethanol forward month swap would also be listed. |
| Trading Venue |
OTC (clearing only) |
| Clearing Hours |
Sunday - Friday: 6:36 p.m. - 4:00 p.m. Central Time next day |
Daily Price Limits
(maximum fluctuation) |
$0.30 per gallon ($8,700 per contract) above or below the previous day's settlement price. Limits are lifted on LTD. |
| Settlement Procedure |
Daily settled to the futures contract that follows the forward month swap contract month. During the last month that a forward month swap contract is listed, daily settlement will be a running cumulative average of the settlement prices for the Ethanol futures contract that follows the forward month swap. |
| Final Settlement |
Cash-settled to the average of the settlement prices for the futures contract that follows the forward month swap contract for each business day in the forward month swap contract month. I.e., the final settlement for a May Ethanol forward month swap would be the average of the daily settlement prices for the June Ethanol futures contract during the month of May. |
| Last Clearing Date |
The last business day of the contract month |
| Rulebook Chapter |
16C |
| Exchange Rule |
These contracts are listed with, and subject to, the rules and regulations of CBOT. |
