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U.S. Midwest Busheling Ferrous Scrap (AMM) Futures Contract Specs

Product Symbol BUS
Venue CME Globex, CME ClearPort
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
Contract Size 20 gross tons(gt)
Price Quotation U.S. dollars and cents per gross ton
Minimum Fluctuation $0.01 per gross ton
Floating Price AMM US Midwest #1 Busheling Ferrous Scrap Index
Termination of Trading 10th of the month, if 10th is a holiday/weekend, it will settle on the immediate following business day
Listed Contracts 24 consecutive months
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 601
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.