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Freight Route TC2 (Baltic) Futures Contract Specs

Contract Unit 1,000 metric tons
Price Quotation U.S. dollars and cents per metric ton
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation 0.0001 per ton = $0.10
Product Code CME Globex: TM
CME ClearPort: TM
Clearing: TM
Listed Contracts Monthly contracts listed for the current year and the next 3 calendar years. Add monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the rates for each business day that the TC2 Tanker Route (for 37,000 metric tons for Continent Europe to USAC) 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.
Settlement Procedures Daily Baltic Freight Swap Futures Settlement Procedure
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 683
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing