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Mini ULSD 10ppm Cargoes CIF MED (Platts) vs. Gasoil Futures Contract Specs

    Please note that effective the January 2015 contract month, the floating price reference for this contract will be the ICE Low Sulphur Gasoil Futures 1st nearby contract settlement. For further details click here

Product Symbol UCM
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)
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 100 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 arithmetic average of the mid - point of the high and low quotations from the Platts European Marketscan for ULSD 10ppm under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the first line ICE Gasoil Futures settlement price for each business day during the contract month (using Non - common pricing), except as noted in (A) below.

The Floating Price for each contract month for January 2015 and beyond is equal to the arithmetic average of the mid - point of the high and low quotations from the Platts European Marketscan for ULSD 10ppm under the heading "Cargoes CIF Med Basis Genoa/Lavera" minus the first line ICE Low Sulphur Gasoil Futures settlement price for each business day during the contract month (using Non - common pricing), except as noted in (A) below.

(A) 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 contract will be used.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts Monthly contracts shall be listed for the current year plus 1 year.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 231
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.