| RME Biodiesel FOB Rdam (Argus) vs. Gasoil Futures | |||||
|---|---|---|---|---|---|
| Product Symbol | CME Globex: AKE CME ClearPort: KE Open Outcry: KE |
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| 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) Trade is Flow per day. | |||
| 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) Trade is Flow per day or Flow per month. | ||||
| Open Outcry: | Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT) | ||||
| Contract Unit | 100 metric tons | ||||
| Price Quotation | US Dollars per metric ton | ||||
| Minimum Fluctuation | US$0.001 per metric ton | ||||
| Floating Price | The Floating Price for each contract month is equal to the RME Price as defined in (A) below minus the Gasoil Price as defined in (B) below. (A) The RME Price is the arithmetic average of the mid-point of the bid and ask quotations from Argus Biofuels publication for RME under the heading "Rapeseed OME fob Rotterdam" for each business day that such quotation is determined during the contract month. (B) The Gasoil Price is the arithmetic average of the ICE Gasoil first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted in (C) below. (C) The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring Gasoil Futures contracts when the settlement prices of the 2nd nearby contracts will be used. | ||||
| Termination of Trading | Last business day in month. | ||||
| Listed Contracts | CME ClearPort and Open Outcry: | Nearst 24 calendar months | |||
| CME Globex: | 6 consecutive months | ||||
| Settlement Type | Financial | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 314 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||