|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: XERCME ClearPort: XERClearing: XER|
|Listed Contracts||24 consecutive months|
|Settlement Method||Financially Settled|
|Floating Price||The Floating Price for each contract month is equal to the arithmetic average of the RBOB Gasoline futures first nearby contract month settlement price minus the high and low quotations from Argus Media for Eurobob-Oxy NWE Barges for each business day during the contract month.
For purposes of determining the Floating Price, the Argus Euro-bob Oxy assessment price will be converted each day to U.S. dollars and cents per barrel, using the conversion factor of 8.33 barrels per metric ton.
The Floating Price is calculated using the non-common pricing convention. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated by using all trading days in the month for each component leg of the spread, followed by the calculation of the spread differential between the two averages.
|Termination Of Trading||Trading shall cease on the last business day of the contract month.|
|Position Limits||NYMEX Position Limits|
|Exchange Rulebook||NYMEX 1206|
|Block Minimum||Block Minimum Thresholds|
|Vendor Codes||Quote Vendor Symbols Listing|