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

Product Symbol FCN
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 100 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 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.
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: 2 consecutive months
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 239
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.