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3.5% Fuel Oil Cargoes FOB MED (Platts) Crack Spread Futures
 
 
3.5% Fuel Oil (Platts) FOB MED Crack Spread Swap Futures
Product Symbol FL
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 1,000 barrels
Price Quotation U.S. dollars and cents per barrels
Minimum Fluctuation $0.01 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 3.5% Fuel Oil under the heading ""Cargoes FOB Med Basis Italy"" minus the ICE Brent Crude Oil Futures first nearby contract settlement price for each business day during the contract month (using Non-common pricing), except as set forth in Section (B) below.

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.

(B) The settlement price of the first nearby contract month for 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 Brent contract will be used."
Termination of Trading Trading ceases on the last business day of the contract month.
Listed Contracts CME ClearPort and Open Outcry: The current year and the next two years. A new calendar year will be added following the termination of trading in the December contract of the current year.
CME Globex: 1 month
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 735
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.
 
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