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Los Angeles CARB Diesel (OPIS) vs. NY Harbor ULSD Futures Contract Specs

Product Symbol CME Globex: AKL
CME ClearPort: KL
Open Outcry: KL
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 42,000 U.S. gallons
Price Quotation U.S. dollars and cents per gallon
Minimum Fluctuation $0.0001 per gallon
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 OPIS for Los Angeles CARB Diesel (Pipeline) minus the NYMEX NY Harbor ULSD Futures first nearby contract month settlement price for each business day that both are determined during the contract month. For purposes of determining the Floating Price, the OPIS CARB Diesel mean will be rounded each day to the nearest thousandth of a cent.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts 3 consecutive years
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 575
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.