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European Naphtha (Platts) Crack Spread BALMO Futures Contract Specs

Product Symbol CME Globex: A43
CME ClearPort: 43
Open Outcry: 43
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 barrels
Price Quotation U.S. dollars and cents per barrel
Minimum Fluctuation $0.001 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 shall cease on the last business day of the contract month.
Listed Contracts One month and the following month for 10 business days prior to the start of the contract month.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 636
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.