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Jet Cargoes CIF NWE (Platts) vs. Gasoil Futures Contract Specs

    Please note that effective the January 2015 contract month, the floating price reference for this contract will be the ICE Low Sulphur Gasoil Futures 1st nearby contract settlement. For further details click here

Product Symbol CME Globex: HJC
CME ClearPort: JC
Open Outcry: JC
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 $0.01 per metric ton
Floating Price The Floating Price for each contract month up to and including the December 2014 contract month is equal to the arithmetic average of the mid - point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non - common pricing), except as noted in (B) below.

The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid - point between the high and low quotations from the Platts European Marketscan for Jet Kerosene under the heading "Cargoes CIF NWE Basis ARA" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day that both are determined during the contract month (using Non - common pricing), except as noted in (B) below.

(B) The settlement prices of the 1st nearby contract month w ill be used except on the last day of trading for the expiring ICE Gasoil and or ICE Low Sulphur Futures contract when the settlement prices of the 2nd nearby ICE Gasoil and or ICE Low Sulphur contract will be used.
Termination of Trading Trading ceases on the last business day of the contract month.
Listed Contracts Monthly contracts shall be listed for the current year plus 1 year.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 722
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.