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Description Added
Freight Route TD5 (Baltic) Futures
 
 
Freight Route TD5 (Baltic) Futures
Product Symbol TI
Venue CME ClearPort, Open Outcry (New York)
Trading Hours CME Globex (Electronic Platform) 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 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT)
Contract Size 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 TD5 Tanker Route (for 130,000 metric tons for West Africa 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 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 Baltic Freight Swap Futures Settlement Procedure (PDF)
Position Limits NYMEX Position Limits
Rulebook Chapter 685
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

 

 
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