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Baltic Freight Forwards

Normal Daily Settlement Procedure

Baltic freight forwards

Product code

Freight Route TD9 (Baltic) Forward

FB9

Freight Route TD7 (Baltic) Forward

FT7

Freight Route TD5 (Baltic) Forward

FT5

Freight Route TD3 (Baltic) Forward

FT3

Freight Route TC6 (Baltic) Forward

FC6

Freight Route TC2 (Baltic) Forward

FC2

Freight Route TC12 (Baltic) Forward

FRB

Freight Route TD10 (Baltic) Forward

FDD

Daily settlement of the above Baltic freight forwards is determined by CME Group staff based on the following methodology:

Pricing Month

The pricing month is the month for which a final price for the relevant contract is determined. The pricing month contract settles to the arithmetic average of index prices for the relevant route published by the Baltic Exchange for each business day during the contract’s final pricing period.

An average of participant price contributions is used for each business day in the “balance of the month” period, or the remaining business days in the pricing month for which an index price has not yet been published.

If no balance of month data is received from contributors by 17:15 Eastern Standard Time (EST), then the last-published Baltic Exchange price will be used for balance of month instead.

Non-Pricing Month

The prices published for any month other than the pricing month are settled according to the following methodology:

Tier 1:  The non-pricing month contract settles to the average of the midpoints derived from participant price contributions received prior to 17:15 EST.

Tier 2:  If no contributor submissions are received prior to 17:15 EST, then the contract settles to the prior-day settlement price.

Baltic Freight Swap Futures

Normal Daily Settlement Procedure

 

Baltic freight forwards

Product code

Freight Route TD9 (Baltic) Swap Futures

TN

Freight Route TD7 (Baltic) Swap Futures

TK

Freight Route TD5 (Baltic) Swap Futures

TI

Freight Route TD3 (Baltic) Swap Futures

TL

Freight Route TC2 (Baltic) Swap Futures

TM

Freight Route TC12 (Baltic) Swap Futures

FRS

Freight Route TD10D (Baltic) Swap Futures

TO

Daily settlement of the above Baltic freight swap futures is determined by CME Group staff based on the following methodology:

Pricing Month

The pricing month is the month for which a final price for the relevant contract is determined. The pricing month contract settles to the arithmetic average of index prices for the relevant route published by the Baltic Exchange for each business day during the contract’s final pricing period.

An average of participant price contributions is used for each business day in the “balance of the month” period, or the remaining business days in the pricing month for which an index price has not yet been published.

If no balance of month data is received from contributors by 17:15 Eastern Standard Time (EST), then the last-published Baltic Exchange price will be used for balance of month instead.

Non-Pricing Month

The prices published for any month other than the pricing month are settled according to the following methodology:

Tier 1:  The non-pricing month contract settles to the average of the midpoints derived from participant price contributions received prior to 17:15 EST.

Tier 2:  If no contributor submissions are received prior to 17:15 EST, then the contract settles to the prior-day settlement price.

Platts Freight Forwards

Normal Daily Settlement Procedure

Platts Freight Forwards

Product Code

Freight Route TC5 (Platts) Forward

FC5

Freight Route TC4 (Platts) Forward

FC4

Freight Route TC1 (Platts) Forward

FPA

Daily settlement of the above Platts freight forwards is determined by CME Group staff based on the following methodology:

Pricing Month

The pricing month is the month for which a final price for the relevant contract is determined. The pricing month contract settles to the arithmetic average of index prices for the relevant route published by Platts for each business day during the contract’s final pricing period.

An average of participant price contributions is used for each business day in the “balance of the month” period, or the remaining business days in the pricing month for which an index price has not yet been published.

If no balance of month data is received from contributors by 17:15 Eastern Standard Time (EST), then the last-published Platts price will be used for balance of month instead.

Non-Pricing Month

The prices published for any month other than the pricing month are settled according to the following methodology:

Tier 1: The non-pricing month contract settles to the average of the midpoints derived from participant price contributions received prior to 17:15 EST.

Tier 2: If no contributor submissions are received prior to 17:15 EST, then the contract settles to the prior-day settlement price.

Platts Freight Swap Futures 

Normal Daily Settlement Procedure

Platts Freight Forwards

Product Code

Freight Route TC5 (Platts) Swap Futures

TH

Freight Route TC4 (Platts) Swap Futures

TJ

Freight Route TC1 (Platts) Swap Futures

TG

Daily settlement of the above Platts freight swap futures is determined by CME Group staff based on the following methodology:

Pricing Month

The pricing month is the month for which a final price for the relevant contract is determined. The pricing month contract settles to the arithmetic average of index prices for the relevant route published by Platts for each business day during the contract’s final pricing period.

An average of participant price contributions is used for each business day in the “balance of the month” period, or the remaining business days in the pricing month for which an index price has not yet been published.

If no balance of month data is received from contributors by 17:15 Eastern Standard Time (EST), then the last-published Platts price will be used for balance of month instead.

Non-Pricing Month

The prices published for any month other than the pricing month are settled according to the following methodology:

Tier 1: The non-pricing month contract settles to the average of the midpoints derived from participant price contributions received prior to 17:15 EST.

Tier 2: If no contributor submissions are received prior to 17:15 EST, then the contract settles to the prior-day settlement price.

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