| Freight Route TC6 (Baltic) Futures | |||||
|---|---|---|---|---|---|
| Product Symbol | TC6 | ||||
| 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: | Monday – Friday 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 metric 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 TC6 Tanker Route (30,000 metric tons for Algeria to Euromed) is published by the Baltic Exchange over the contract month. If for any reason the Baltic Exchange 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 terminates on the last business day of the contract month | ||||
| Listed Contracts | Trading is conducted in 24 consecutive months | ||||
| Settlement Type | Financial | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 1053 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||