|Contract Unit||1,000 barrels|
|Price Quotation||U.S. dollars and cents per barrel|
|Trading Hours||CME Globex:||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)||CME ClearPort:|
|Minimum Price Fluctuation||$0.001 per barrel|
|Product Code||CME Globex: GKSCME ClearPort: GKSClearing: GKS|
|Listed Contracts||36 consecutive months|
|Settlement Method||Financially Settled|
|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 Platts European Marketscan for Premium Unleaded Gasoline (Prem Unl) 10ppm under the heading “Cargoes FOB Med Basis Italy” minus the ICE Brent Crude Oil Futures first nearby contract month settlement price for each business day during the contract month, except as set forth below.
The settlement price of the first nearby contract month for the ICE Brent Crude Oil Futures contract will be used except on the last day of trading for the expiring ICE Brent Crude Oil Futures contract when the settlement price of the second nearby ICE Brent Crude Oil Futures contract will be used.
For purposes of determining the Floating Price, the Platts Gasoline 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 8.33 barrels per metric ton. The Floating Price is calculated using the non-common pricing convention. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated by using all trading days in the month for each component leg of the spread, followed by the calculation of the spread differential between the two averages.
|Termination Of Trading||Trading shall cease on the last business day of the contract month.|
|Position Limits||NYMEX Position Limits|
|Exchange Rulebook||NYMEX 1198|
|Block Minimum||Block Minimum Thresholds|
|Vendor Codes||Quote Vendor Symbols Listing|