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European 3.5% Fuel Oil Cargoes FOB MED (Platts) BALMO Futures Contract Specs

Product Symbol CME Globex: EFF
CME ClearPort: EFF
Open Outcry: EFF
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 balance-of-month arithmetic average of the high and low quotations from Platts European Marketscan for 3.5% Fuel Oil under the heading "Cargoes FOB Med Basis Italy" starting from the selected start date through the end of the contract month, inclusively.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts 1 month and the following month listed ten days prior to the start of the contract month.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 212
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.