| Freight Route TC4 (Platts) Futures | |||||
|---|---|---|---|---|---|
| Product Symbol | TJ | ||||
| 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 TC4 Tanker Route is published by Platts for the Singapore to Japan route for 30,000 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. |
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| 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 | 681 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||