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

Product Symbol CME Globex: EFM
CME ClearPort: EFM
Open Outcry: EFM
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 Oilgram for 1% Fuel Oil under the heading "Cargoes FOB Med Basis Italy" for each business day that it is determined during the contract month.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts Current year and next 5 consecutive calendar years.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 215
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.