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European Naphtha Cargoes CIF NWE (Platts) Average Price Option Contract Specs

Contract Unit	1,000 metric tons. A European Naphtha (Platts) Cargoes CIF NWE Average Price Call Option represnts the differential between the final settlement price of the underlying European Naphtha (Platts) Calendar Futures less the strike price, or zero whichever is greater, multiplied by 1,000 metric tons. A European Naphtha (Platts) Cargoes CIF NWE Average Price Put Option represents the differential between the strike price and the final settlement price of the underlying European Naphtha (Platts) Calendar Futures, or zero, whichever is greater, multiplied by 1,000 metric tons.
Minimum Price Fluctuation	$0.001 per metric ton
Price Quotation	U.S. dollars and cents per metric ton.
Trading Hours	Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code	CME Globex: NWE CME ClearPort: NWE Clearing: NWE
Listed Contracts	Monthly contracts listed for 12 consecutive months.
Termination Of Trading	Trading terminates on the last business day of the calendar month.
Position Limits	NYMEX Position Limits
Exchange Rulebook	NYMEX 1213
Block Minimum	Block Minimum Thresholds
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike Price Listing Procedures Table
Exercise Style	Average Price Option - may only be exercised on expiry
Settlement Method	Financially Settled
Underlying	European Naphtha Cargoes CIF NWE (Platts) Futures

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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.