Asset Class Navigation

3.5% Fuel Oil Barges FOB Rdam (Platts) Crack Spread Futures Contract Specs

Product Symbol FO
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. New York time/ET (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 arithmetic average of the mid-point of the high and low quotations from Platts European Marketscan for 3.5% Fuel Oil under the heading ""Barges FOB Rotterdam"" minus the Brent Crude Oil (ICE) Futures first nearby contract settlement price for each business day during the contract month (using Non-common pricing), except as set forth in Section (B) below.

For purposes of determining the Floating Price, the Platts Fuel Oil assessment price will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent. The conversion factor will be 6.35 barrels per metric ton.

(B) The settlement price of the first nearby contract month for will be used except on the last day of trading for the expiring Brent Crude Oil Futures contract when the settlement price of the second nearby Brent contract will be used."
Termination of Trading Trading ceases on the last business day of the contract month.
Listed Contracts 5 consecutive years listed yearly
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 726
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.