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3.5% Fuel Oil CIF MED (Platts) BALMO Futures Contract Specs

Product Symbol 8D
Venue CME Globex, CME ClearPort and 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 1,000 metric tons
Price Quotation U.S. dollars and cents per metric ton
Minimum Fluctuation $0.001 per metric ton
Floating Price The Floating Price for each contract month is equal to the balance-of-month arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for 3.5% Fuel Oil under the heading “ Cargoes CIF Med Basis Genoa/Lavera ” for each business day that it is determined during the contract month, starting from the selected start date through the end of the contract month, inclusive.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: One month and the following month for 10 business days prior to the start of the contract month
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 472
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.