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Daily European 1% Fuel Oil Cargoes FOB NWE (Platts) Futures Contract Specs

Contract Unit 100 metric tons
Price Quotation U.S. dollars and cents per metric ton
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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. New York time/ET (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 a.m. - 2:30 p.m. New York time/ET (8:00 a.m. - 1:30 p.m. Chicago Time/CT)
Minimum Price Fluctuation $0.001 per metric ton
Product Code CME Globex: FCN
CME ClearPort: FCN
Open Outcry: FCN
Clearing: FCN
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: 2 consecutive months
DEFAULT 2 consecutive months
Settlement Method Financially Settled
Floating Price The Floating Price for each contract is equal to the daily mid-point between the high and low quotations from the Platts European Marketscan for for 1% Fuel Oil under the heading "Cargoes FOB NWE" price for each business day that it is determined.
Termination Of Trading Trading shall cease at the close of the business day of the daily contract.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 239
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing