|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)|
|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 barrel|
|Minimum Fluctuation||$0.001 per barrel|
|Floating Price||The Floating Price for each contract month is the balance-of-month arithmetic average of the mid-point between the high and low quotations from 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 month, settlement price starting from the selected start date through the end of the contract month, inclusive, except as set forth below.
The settlement price of the first nearby contract month for will be used except on the last day of trading for the expiring ICE Brent Crude Oil Futures contract when the settlement price of the second nearby ICE Brent Crude Oil Futures contract 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. The Floating Price is calculated using the non-common pricing convention. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated by using all trading days in the month for each component leg of the spread, followed by the calculation of the spread differential between the two averages.
|Termination of Trading||Trading shall cease on the last business day of the contract month.|
|Listed Contracts||1 month and the following month listed ten days prior to the start of the contract month|
|Position Limits||NYMEX Position Limits|
|Exchange Rule||These contracts are listed with, and subject to, the rules and regulations of NYMEX.|