|Contract Unit||1,000 barrels|
|Price Quotation||U.S. Dollars and Cents per barrel|
|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||$0.01=$10.00|
|Product Code||CME Globex: MDRCME ClearPort: MDRClearing: MDR|
|Listed Contracts||Monthly contracts listed for the current year and the next 3 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.|
|Settlement Method||Financially Settled|
|Floating Price||The Floating Price for each contract month is equal to the arithmetic average of the Mars (1st month) weighted average index price from Argus Media minus Dubai (1st month) from S&P Global Platts for the Trade month period beginning with the first business day after the 25th calendar day two months prior to the contract month through the last business day that falls on or before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, the Trade month period shall end on the first business day prior to the 25th calendar day.
The Floating Price is calculated using the non-common pricing convention. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated by using all trading days in the month for each component leg of the spread, followed by the calculation of the spread differential between the two averages.
|Termination Of Trading||Trading terminates on the 25th calendar day of the month prior to the contract month. If the 25th calendar day is not a business day, trading terminates on the business day prior to the 25th calendar day.|
|Position Limits||NYMEX Position Limits|
|Exchange Rulebook||NYMEX 1317|
|Block Minimum||Block Minimum Thresholds|
|Vendor Codes||Quote Vendor Symbols Listing|