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PG&E Citygate Natural Gas (Platts Gas Daily/Platts IFERC) Index Futures Contract Specs

Product Symbol IK
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. (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 arithmetic average of the Platts Gas Daily PG&E city-gate Midpoint ("Midpoint") minus the bidweek price (average) for the PG&E citygate under the California heading found in Platts Inside Ferc (IFERC) Gas Market Report, “Market Center Spot Gas Prices” for the corresponding contract month calculated for all Flow Dates during the contract month and rounded to the nearest hundredth of a cent. For purposes of this chapter, "Flow Date" shall mean a calendar date that corresponds to a published price used for determining the Floating Price.
Termination of Trading Trading shall cease on the last business day of the month prior to the contract month.
Listed Contracts CME Globex 24 Consecutive Months
CME ClearPort and Open Outcry 36 Consecutive Months
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 792
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.