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Urals North (Platts) vs. Dated Brent (Platts) CFD BALMO Futures Contract Specs

Contract Unit 1000 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 CME Globex: 0.01 per barrel = $10.00
CME ClearPort: 0.001 per barrel = $1.00
Product Code CME Globex: UNB
CME ClearPort: UNB
Clearing: UNB
Listed Contracts Monthly BALMO contracts listed for 3 consecutive months.  BALMO contracts which would have a start date within the final 5 business days of a contract month are not listed.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from the Platts Crude Oil Marketwire, under the heading Russian Urals/ESPO spot assessment for "Urals Rotterdam" minus the arithmetic average of the mid-point between the high and low quotations from the Platts Crude Oil Marketwire under the heading Forward Dated Brent for "Mediterranean Dated Strip" starting from the selected start date through the end of the contract month inclusive. The floating price is calculated using non-common pricing convention. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated 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 last business day of the contract month
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1215
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing