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3.5% Fuel Oil Cargoes FOB MED (Platts) vs. 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures Contract Specs

Product Symbol CME Globex: AFK
CME ClearPort: FK
Open Outcry: FK
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) 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 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 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 3.5% Fuel Oil under the heading "Barges FOB Rotterdam" for each business day during the contract month (using Non-common pricing).
Termination of Trading Trading ceases on the last business day of the contract month.
Listed Contracts The current year and the next 2 years. A new calendar year will be added following the termination of trading in the December contract of the current year.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 734
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.