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NY 1% Fuel Oil (Platts) vs. Gulf Coast HSFO (Platts) BALMO 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: NFG
CME ClearPort: NFG
Clearing: NFG
Listed Contracts One month + the following month for 10 business days prior to the start of the contract month
Settlement Method Financially Settled
Floating Price For all contract months prior to January 2017  The Floating Price for each contract month is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from Platts Oilgram Price Report for New York No. 6 1%S Max Fuel Oil (Cargo) minus the mid-point of the high and low quotations from Platts Oilgram Price Report for Gulf Coast No. 6 3.0%S Fuel Oil (Waterborne) starting from the selected start date through the end of the contract month, inclusive.

For all contract months commencing with January 2017 and beyond  The Floating Price for each contract month is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from Platts Oilgram Price Report for New York No. 6 1%S Max Fuel Oil (Cargo) minus the mid-point of the high and low quotations from Platts Oilgram Price Report for Gulf Coast HSFO starting from the selected start date through the end of the contract month, inclusive.
Termination Of Trading Trading shall cease on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 219
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing