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European Naphtha (Platts) Crack Spread Swap Futures
| European Naphtha (Platts) Crack Spread Swap Futures | |||||
|---|---|---|---|---|---|
| Product Symbol | EN | ||||
| Venue | CME ClearPort, Open Outcry (New York) | ||||
| Hours (All Times are New York Time/ET) | 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) | |||
| Open Outcry | Monday - Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT) | ||||
| Contract Unit | 1,000 barrels | ||||
| Price Quotation | U.S. dollars and cents per barrel | ||||
| Minimum Fluctuation | $0.01 per barrel | ||||
| Floating Price | "The Floating Price for each contract month is equal to the arithmetic average of the high and low quotations from the Platts European Marketscan for Northwest Europe Naphtha Physical under the heading ""Cargoes CIF NWE Basis ARA"" minus the Brent Crude Oil (ICE) Futures first nearby contract settlement price for each business day during the contract month (using Non-common pricing), except as set forth in Section (B) below. For purposes of determining the Floating Price, the Platts Naphtha assessment price will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent. The conversion factor will be 8.9 barrels per metric ton. (B) The settlement price of the first nearby contract month for will be used except on the last day of trading for the expiring Brent Crude Oil Futures contract when the settlement price of the second nearby contract will be used." |
||||
| Termination of Trading | Trading ceases on the last business day of the contract month. | ||||
| Listed Contracts | The current year and the next three years. A new calendar year will be added following the termination of trading in the December contract of the current year. | ||||
| Settlement Type | Financial | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 713 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||
