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Gulf Coast Unl 87 (Platts) Crack Spread BALMO Futures Contract Specs

Code 1J
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 U.S. 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 balance-of-month arithmetic average of the of the high and low quotations from Platts for U.S. Gulf Coast Unl 87 (pipeline) minus the NYMEX Light Sweet Crude Oil Futures first nearby contract month settlement price for each business day that both are determined during the contract month, starting from the selected start date through the end of the contract month, inclusive. For purposes of determining the Floating Price, the U.S. Gulf Coast Unl 87 pipeline mean will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent.
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 336
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.