|EIA Flat Tax On-Highway Diesel Futures|
|Product Symbol||CME Globex: AA5
CME ClearPort: A5
Open Outcry: A5
|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) 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||42,000 gallons|
|Price Quotation||U.S. dollars and cents per gallon.|
|Minimum Fluctuation||$0.0001 per gallon|
|Floating Price||The Floating Price for each contract month is equal to the monthly arithmetic average of the weekly price published by the U.S. Department of Energy’s Energy Information Administration ("EIA") Retail On-Highway Diesel Prices under the heading "Weekly Retail On-Highway Diesel Prices - Average All Types" for the entire U.S. adjusted for the tax rates in effect as of March 1, 2009.
For purposes of this contract, the counterparties agree that the following Market Disruption Event shall apply: Tax Event, provided that such Tax Event shall be defined as follows: the imposition of, change in, or removal of, an excise, severance, sales, use, value-added, environmental, emissions, transfer, stamp, documentary, recording or similar tax on, or measured by reference to, diesel (other than a tax on, or measured by reference to overall gross or net income) by or at the direction of the federal government (or any agency or organ thereof) after the Trade Date, if the direct effect of such imposition, change or removal is to raise (a "Tax Increase") or lower (a "Tax Decrease") the Floating Price from what it would have been without that imposition, change or removal.
If the Tax Event has occurred and exists, the following Reset Price shall apply: the Floating Price, plus any Tax Decrease or less any Tax Increase, as applicable.
|Termination of Trading||Trading shall cease on the last business day of the contract month.|
|Listed Contracts||CME ClearPort and Open Outcry:||36 consecutive months|
|CME Globex:||12 consecutive months|
|Position Limits||NYMEX Position Limits|
|Exchange Rule||These contracts are listed with, and subject to, the rules and regulations of NYMEX.|