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Freight Route TC5 (Platts) Options
Type
| Freight Route TC5 (Platts) Average Price Option | |||||
|---|---|---|---|---|---|
| Underlying Futures | Freight Route TC5 (Platts) Swap Futures (TH) | ||||
| Product Symbol | TCF | ||||
| 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. The underlying reference value is the average of daily settlement prices for Freight Route TC5 published by Platts quoted in percent of the Worldscale flat rate, multiplied by the prevailing Worldscale flat rate, measured in US $ per metric ton. On expiration day, a call option will be financially settled to the value obtained by subtracting the strike price from the underlying reference price and multiplying by 1,000 metric tons, or zero, whichever is greater. A put option will be financially settled to the value obtained by subtracting the underlying reference price from the the strike price and multiplying by 1,000 metric tons, or zero, whichever is greater. |
||||
| Price Quotation | U.S. dollars and cents per metric ton | ||||
| Option Style | European | ||||
| Minimum Fluctuation | US $0.0001 per metric ton | ||||
| Expiration of Trading | The last UK business day of the month | ||||
| Listed Contracts | Monthly contracts for the current calendar year plus the next calendar year | ||||
| Strike Prices | The at the money strike plus at least four strike prices in increments of $0.10 per metric ton above and below at the money strike price | ||||
| Settlement Type | Financial | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 948 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||
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