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Freight Route TD3C (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 = $0.10
Product Code CME Globex: TLB
CME ClearPort: TLB
Clearing: TLB
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 freight rate published each day during the Settlement Period by the Baltic Exchange for the TD3C freight route (i.e. Middle East Gulf to China for cargoes of 270,000 metric tons, or as subsequently amended) valued in Worldscale points multiplied by the applicable Worldscale flat rate for the TD3C route (as defined by Baltic Exchange), starting from the selected start date through the end of the Settlement Period.
The Floating Price is determined by multiplying each daily freight rate by the applicable Worldscale flat rate (for that day), and subsequently calculating the balance of month average for the Settlement Period.
Termination Of Trading For contract months January to November inclusive: Trading terminates on the last business day of the calendar month.
For December contract months: Trading terminates on the 24th calendar day of the month, or if this is not a business day, the first preceding business day.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 885
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing