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Chicago Natural Gas (Platts IFERC) Basis Futures Contract Specs

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Product Symbol CME Globex: NBN
CME Clearport: NB
Open Outcry: NB
Venue CME Globex, CME ClearPort, Open Outcry (New York)
Hours
(All Times are New York Time/ET)
CME Globex Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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)
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 2,500 MMBtu
Price Quotation U.S. dollars and cents per MMBtu
Minimum Fluctuation $0.0001 per MMBtu
Floating Price The Floating Price for each contract month will be equal to the bidweek price (average) for the Chicago city-gates under the Upper Midwest heading found in Platts Inside (FERC) Gas Market Report, “Market Center Spot Gas Prices” minus the NYMEX (Henry Hub) Natural Gas Futures contract final settlement price for the corresponding contract month.
Termination of Trading Trading shall cease on the last business day of the month prior to the contract month.
Listed Contracts CME Globex 36 Consecutive Months
CME ClearPort and Open Outcry 72 Consecutive Months
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 517
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.