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Freight Route TD9 (Baltic) Swap Futures
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Freight Route TD9 (Baltic) Swap Futures
Product Symbol TN
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 TD9 Tanker Route (for 70,000 metric tons for Caribbean to US Gulf) 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 687
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.