|1.0% Fuel Oil Cargoes FOB NWE (Platts) Crack Spread (1000mt) Futures|
|Product Symbol||CME Globex: FVB
CME ClearPort: FVB
Open Outcry: FVB
|Venue||CME Globex, CME ClearPort, Open Outcry (New York)|
(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) Trade is Flow per day.|
|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) Trade is Flow per day or Flow per month.|
|Open Outcry:||Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT)|
|Contract Unit||6,350 barrels (1,000 metic tons)|
|Price Quotation||U.S. dollars and cents per barrel|
|Minimum Fluctuation||$0.001 per barrel|
|Floating Price||The Floating Price for each contract month is equal to the arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for 1.0% Fuel Oil under the heading "Cargoes FOB NWE" minus the ICE Brent Crude Oil Futures first nearby contract settlement price for each business day during the contract month (using Non-common pricing).
The settlement price of the first nearby Brent Crude Oil Futures contract month will be used except on the last day of trading for the expiring Brent Crude Oil Futures contract when the settlement price of the second nearby contract month will be used.
For purposes of determining the Floating Price, the Platts Fuel Oil assessment price will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent. The conversion factor will be 6.35 barrels per metric ton.
|Termination of Trading||Trading shall cease on the last business day of the contract month.|
|Listed Contracts||CME Globex:||12 consecutive months|
|CME ClearPort and Open Outcry:||A new calendar year will be added following the termination of trading in the December contract of the current year|
|Position Limits||NYMEX Position Limits|
|Exchange Rule||These contracts are listed with, and subject to, the rules and regulations of NYMEX.|