Trading has been suspended for contract months from June 2018 onwards, until 23 October 2017. See SER 7995 for details.

Asset Class Navigation

Japan C&F Naphtha (Platts) Brent Crack Spread Futures Contract Specs

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: 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)
Minimum Price Fluctuation $0.001 per barrel
Product Code CME Globex: AJB
CME ClearPort: JB
Clearing: JB
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 high and low quotations from the Platts Asia Pacific/Arab Gulf Marketscan for Naphtha under the heading "C&F Japan" minus the ICE Brent Crude Oil Futures first nearby contract settlement price for each business day during the contract month (using Non-common pricing), except as set forth below.

The settlement price of the first nearby ICE Brent Crude Oil Futures contract month 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 contract month will be used.
 
For All Contract Months up to and Including May 2018:  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 tenth of a cent. The conversion factor will be 8.9 barrels per metric ton.
 
For All Contract Months Commencing with the June 2018 Contract Month and Beyond:   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 tenth of a cent. The conversion factor will be 9.0 barrels per metric ton.
Termination Of Trading Trading shall cease on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 580
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing