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Guernsey Light Sweet Crude Oil Index (Net Energy) Futures Contract Specs

Contract Unit 1,000 barrels
Price Quotation U.S. dollars and cents per barrel
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation $0.001 per barrel
Product Code CME Globex: GSW
CME ClearPort: GSW
Clearing: GSW
Listed Contracts Monthly contracts listed for the current year and the next 3 calendar years.  Monthly contracts for a new calendar year will be added following the termination of trading in the December contract of the current year.
Settlement Method Financially Settled
Floating Price The Index Price for each contract month is equal to the Net Energy US Monthly Index (USMI) for Lt. SW at Guernsey during the Index Pricing Period for the contract month. The Index Pricing Period shall extend from the first business day after the 25th calendar day two months prior to the contract month through the last business day that falls on or before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, the Trade month period shall end on the first business day prior to the 25th calendar day. The Index is expressed as a differential versus the Calendar Month Average (CMA) of the NYMEX Light Sweet Crude Oil futures settlement price.
Termination Of Trading Trading terminates on the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, trading terminates on the first business day prior to the 25th calendar day.
Exchange Rulebook NYMEX 1297
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