|Contract Unit||1,000 barrels|
|Price Quotation||U.S. Dollars and Cents per barrel|
|Trading Hours||CME Globex:||Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)||Open Outcry:||Monday - Friday 9:00 a.m. - 2:30 p.m. New York time/ET (8:00 a.m. - 1:30 p.m. Chicago Time/CT)||CME ClearPort:||Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)|
|Minimum Price Fluctuation||$0.01 per barrel|
|Product Code||CME Globex: BZCME ClearPort: BZOpen Outcry: BZClearing: BZTAS: BZTTAM: BZS|
|Listed Contracts||CME Globex:||1 month|
|CME Clearport and Open Outcry:||Monthly contracts are listed for the current year and the next 7 consecutive calendar years|
|DEFAULT||Monthly contracts are listed for the current year and the next 7 consecutive calendar years|
|Settlement Method||Financially Settled|
|Floating Price||The Floating Price is equal to the ICE Brent Crude Oil Index price as published one day after the final trading day of the contract month.|
|Termination Of Trading||For contract months up to and including the February 2016 contract, trading shall cease on the same termination day as the ICE Brent Crude Oil Futures Contract forthe delivery month, i.e., on the business day immediately preceding the 15th day prior to the first day of the delivery month, if such 15th day is a banking day in London. If the 15th day is a nonbanking day in London (including Saturday), trading shall cease on the business day immediately preceding the first business day prior to the 15th day. Effective with the March 2016 contract, the last trading day will be the last UK business day of the second month preceding the contract month, except for the business day preceding New Year's Day, where trading shall cease on the second UK business day preceding New Year's Day.|
|Trade At Marker Or Trade At Settlement Rules||Trading at settlement is available for spot (except on the last trading day), 2nd, and 3rd months and subject to the existing TAS rules. Trading in all TAS products will cease daily at 2:30 PM Eastern Time. The TAS products will trade off of a "Base Price" of 0 to create a differential (plus or minus 10 ticks) versus settlement in the underlying product on a 1 to 1 basis. A trade done at the Base Price of 0 will correspond to a "traditional" TAS trade which will clear exactly at the final settlement price of the day.
TAM trading is analogous to our existing Trading at Settlement (TAS) trading wherein parties will be permitted to trade at a differential that represents a not-yet-known price. TAM trading will use a marker price, whereas TAS trading uses the Exchange-determined settlement price for the applicable contract month. As with TAS trading, parties will be able to enter TAM orders at the TAM price or at a differential between one and ten ticks higher or lower than the TAM price. Trading at marker is available for spot month on the last trading day.
Brent Crude Oil Financial Futures (BZ) spot, 2nd and 3rd months and nearby/second month, second/third month and nearby/third month calendar spreads.
4:30 p.m. London time – 5:50 p.m. Eastern time Monday – Thursday
4:30 p.m. London time Friday – 5:20 p.m. Eastern time Sunday
|Settlement Procedures||Brent Crude Oil Last Day Financial Futures Settlement Procedures|
|Position Limits||NYMEX Position Limits|
|Exchange Rulebook||NYMEX 698|
|Block Minimum||Block Minimum Thresholds|
|Vendor Codes||Quote Vendor Symbols Listing|