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European 1% Fuel Oil Cargoes FOB MED vs. European 1% Fuel Oil Cargoes FOB NWE Spread (Platts) Futures Contract Specs

Product Symbol CME Globex: ENS
CME ClearPort: ENS
Open Outcry: ENS
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 high and low quotations from the Platts Oilgram for 1% Fuel Oil under the heading "Cargoes FOB Med Basis Italy" minus the arithmetic average of the high and low quotations from the Platts Oilgram for 1% Fuel Oil under the heading "Cargoes FOB NWE" for each business day during the contract month (using Non-common pricing).
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts Current year and next 5 consecutive years
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 216
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.