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Gasoil 0.1 Cargoes CIF MED (Platts) vs. Gasoil BALMO Futures Contract Specs

Product Symbol 8W
Venue CME Globex, CME ClearPort and 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)
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 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 up to and including the December 2014 contract month is equal to the balance-of-month arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF Med Basis Genoa/Lavera" 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), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.

The Floating Price for each contract month from the January 2015 contract and beyond is equal to the balance-of-month arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for Gasoil 0.1% under the heading "Cargoes CIF Med Basis Genoa/Lavera" 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), starting from the selected start date through the end of the contract month, inclusive, except as noted in (B) below.

(B) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring ICE Gasoil or ICE Low Sulphur Gasoil Futures contract when the settlement prices of the 2nd nearby ICE Gasoil or ICE Low Sulphur Gasoil contract will be used.
Termination of Trading Trading ceases on the last business day of the contract month.
Listed Contracts One contract month, and the next contract month will be listed ten business days before the start of the contract month.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 473
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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