- What futures products are offered?
- What are the product codes?
- What is the regulatory jurisdiction of these futures contracts?
- How are the final settlement prices of the futures contracts determined?
- What is the daily settlement procedure?
- When is the last trading day of the contract?
- Are there price limits?
- How can these futures contracts be traded?
- The futures contracts are available to trade as a block. How does that work?
- What are the requirements for block trades?
- Is crossing permitted?
- What are the hours for trade entry on CME ClearPort and on CME Globex?
- Will trades executed at 1:30 p.m. CT be attributed to today or tomorrow’s trade date?
- What are the position limits?
- What is the listing schedule?
- I am a bona-fide hedger and I need to exceed position limits. Can I apply for a hedge exemption?
- I have more questions. Who can I contact?
1. What futures products are offered?
CME Group will launch cash-settled European FOB Dutch Mill Rapeseed Oil (Argus) futures on the CBOT exchange.
The contract size is 20 metric tons and the contract is quoted in euros and cents per metric ton. The contract's tick size is EUR 0.50 per metric ton and tick value is EUR 10.00.
The first trading day is April 28, 2025.* May 2025 will be the first calendar month available for trading, and there will be 15 months available for trading at a time. On day 1 of trading, the May 2025 to July 2026 futures contract months will be made available.
*Pending regulatory review
2. What are the product codes?
The product code for European FOB Dutch Mill Rapeseed Oil futures (Argus) futures will be RSO.
3. What is the regulatory jurisdiction of these futures contracts?
The contract is listed in the U.S. by the CBOT DCM and cleared in the U.S. by CME Clearing. The regulator is the CFTC.
4. How are the final settlement prices of the futures contracts determined?
The financial settlement price is equal to the average of the daily front 3 month price for Rapeseed Oil FOB Dutch Mill for each day that is published by Argus Media during the contract month.
5. What is the daily settlement procedure?
Daily settlement will take place on each contract business day at 17:30 Central European Time (CET).
6. When is the last trading day of the contract?
The last trading day for each contract month is the last business day of the month provided that this is also a day on which Argus Media publishes a price for European rapeseed oil. If the last day of trading is not a business day and/or a day on which Argus publishes a price, then the last trading day will be the business day immediately preceding the last day of the month.
7. Are there price limits?
There are price limits for this contract. Please refer to the contract rulebook for details.
8. How can these futures contracts be traded?
The contracts are available for trading on the CME Globex electronic trading platform and for submission for clearing via CME ClearPort.
9. The futures contracts are available to trade as a block. How does that work?
Subject to certain requirements, such as eligibility and minimum size, the futures contract can be privately negotiated via brokers as a block trade and submitted into CME ClearPort for clearing.
10. What are the requirements for block trades?
There are minimum quantity and reporting time requirements. The minimum block size is five lots and trades need to be reported within 15 minutes of execution.
Firms need to be classified as an eligible contract participant (ECP) to engage in block trades. The definition of ECP can be found in Section 1a(18) of the Commodity Exchange Act.
11. Is crossing permitted?
Yes. As with all CBOT Grain futures, committed cross (C-Cross) and Globex cross (G-Cross) are permitted futures crossing protocols for participants who engage in pre-execution communications pursuant to Rule 539. Pre-execution communications allow for size, price and direction to be discussed prior to the entry of orders into CME Globex.
12. What are the hours for trade entry on CME ClearPort and on CME Globex?
Trades may be entered on CME Globex Sunday - Friday 7:00 p.m. - 1:20 p.m. CT (8:00 p.m. - 2:20 p.m. ET).
Trades may be entered on CME ClearPort Sunday 5:00 p.m. to Friday 5:45 p.m. CT with no reporting available Monday to Thursday from 5:45 p.m. CT to 6:00 p.m. CT.
13. Will trades executed at 1:30 p.m. CT be attributed to today or tomorrow’s trade date?
All trades executed through 4:00 p.m. CT will be considered today’s trade date.
14. What are the position limits?
The spot month position limit for European FOB Dutch Mill Rapeseed Oil (Argus) Futures is 6,000 contracts. The single and all-month accountability level will be set at 8,000 contracts.
15. What is the listing schedule?
A total of 15 monthly contracts will at all times be available.
16. I am a bona-fide hedger and I need to exceed position limits. Can I apply for a hedge exemption?
Hedge exemptions will be available.
17. I have more questions. Who can I contact?
Contact us with questions at rsofutures@cmegroup.com
European Rapeseed Oil futures
Starting April 28,* our new cash-settled contract will offer a new way to manage price exposure in the rapeseed oil markets while addressing counterparty credit risk.
*Pending regulatory review
All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
