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Ethanol T1 FOB Rdam Excluding Duty (Argus) Futures Contract Specs

Ethanol T1 FOB Rdam Excluding Duty (Argus) Futures
Product Symbol WE
Venue CME Globex, CME ClearPort, Open Outcry (New York)
Hours
(All Times are New York Time/ET)
CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. (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)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:15 p.m. (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 AM to 2:30 PM (8:00 AM to 1:30 PM CT)
Contract Unit 100 cubic metres
Price Quotation US Dollars per cubic metre
Minimum Fluctuation US$0.001 per cubic metre
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the mid-point of the bid and ask quotations from Argus Biofuels publication for Ethanol under the heading “Ethanol fob Rotterdam ex duty, $/m3”, for each business day that the Floating Price is determined during the contract month.
Termination of Trading Last business day in month.
Listed Contracts CME ClearPort and Open Outcry: nearest 24 calendar months
CME Globex: 1 month
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 209
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.