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NY Fuel Oil 1.0% (Platts) vs. European 1% Fuel Oil Cargoes FOB NWE (Platts) BALMO Futures Contract Specs

Product Symbol NYG
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 1,000 barrels
Price Quotation U.S. dollars and cents per barrels
Minimum Fluctuation $0.001 per barrel
Floating Price The Floating Price for each contract month is equal to the balance-of-month arithmetic average of the mid-point of the high and low quotations from Platts Oilgram Price Report for New York No. 6 1%S Max Fuel (Waterborne Cargo) minus the high and low quotations from Platts European Marketscan for 1% Fuel Oil under the heading "Cargoes FOB NWE" price assessment starting from the selected start date through the end of the contract month, inclusive (using non-common pricing).
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts CME ClearPort and Open Outcry: 1 month and the following month listed 10 days prior to the start of the contract month
CME Globex: 1 month
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 1064
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.