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European Propane CIF ARA (Argus) vs. Naphtha Cargoes CIF NWE (Platts) Futures Contract Specs

Product Symbol CME Globex: EPN
CME ClearPort: EPN
Open Outcry: EPN
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 arithmetic average of the mid-point between the high and low quotations from Argus Media for Propane CIF ARA minus 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" price for each business day during the contract month (using non-common pricing).
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts 36 consecutive months
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 396
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.