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Freight Route TC12 (Baltic) BALMO Futures Contract Specs

Contract Unit 1,000 Metric Tons
Price Quotation U.S. dollars and cents per metric ton
Trading Hours Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET).
Minimum Price Fluctuation $0.0001 per metric ton
Product Code CME Globex: TB2
CME ClearPort: TB2
Clearing: TB2
Listed Contracts Monthly contracts listed for the current month and the next 2 consecutive months.Following the expiration of the front month contract, a new contract month would be added.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the balance-of-month arithmetic average of the rates for each business day that the TC12 Tanker Route (for 35,000 metric tons for Sikka, West Coast India to Chiba, Japan) is published by the Baltic Exchange over the contract month.

If for any reason the Baltic Exchange cannot provide any rate required for establishing the Floating Price, then the Forward Freight Agreement Brokers Association (FFABA) may be instructed by either party to form a panel to establish any rate which will be binding on both parties.
Termination Of Trading Trading terminates on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 882
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing