CME Group » Energy » Freight » Freight Route TC1 (Platts) Swap
Energy Products
Description Added
Freight Route TC1 (Platts) Swap Futures
Settlements | Contract Specifications | Performance Bonds / Margins | Product Calendar | Learn More
 
 
Freight Route TC1 (Platts) Swap Futures
Product Symbol TG
Venue CME ClearPort, Open Outcry (New York)
Hours
(All Times are New York Time/ET)		 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: 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT)
Contract Unit 1,000 metric tons
Price Quotation U.S. Dollars and Cents per metric ton
Minimum Fluctuation $0.0001 per ton
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the rates for each business day that the TC1 Tanker Route is published by Platts for the AG/Japan route for 75,000 metric tons over the contract month. If for any reason Platts cannot provide any rate required for establishing the Floating Price, then the Forward Freight Agreement Brokers Association (FFABA) may be instructed by either party to form a panel to establish any rate which will be binding on both parties.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts Trading is conducted in 36 consecutive months.
Settlement Type Financial
Settlement Procedure Daily Platts Freight Swap Futures Settlement Procedure (PDF)
Position Limits NYMEX Position Limits
Rulebook Chapter 680
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.