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New York Harbor Residual Fuel 1.0% (Platts) Futures Contract Specs

Product Symbol MM
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 gallon.
Minimum Fluctuation $0.01 per barrel
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the high and low quotations from Platts Oilgram Price Report for New York No. 6 1%S Max Fuel (Waterborne Cargo) for each business day that it is determined during the contract month.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts 52 consecutive months
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 614
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.