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Cross North Sea Dirty Freight 80kt (Platts) 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 = $0.10
Product Code CME Globex: XUB
CME ClearPort: XUB
Clearing: XUB
Listed Contracts Monthly BALMO contracts listed for 3 consecutive months.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the balance of month arithmetic average of the freight rates published each day during the Settlement Period by Platts in the Dirty Tankerwire report under the heading "West of Suez Dirty Tankers" and "Aframax" in "$/mt" for the route UK Continent to UK Continent for cargoes of 80,000 metric tons starting from the selected start date through to the end of the contract month for each day that it is determined during the settlement period.
Termination Of Trading Trading terminates on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 706
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing