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Cross North Sea Dirty Freight 80kt (Platts) 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 = $0.10
Product Code CME Globex: XUK
CME ClearPort: XUK
Clearing: XUK
Listed Contracts Monthly contracts listed for the current year and the next 2 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the freight rates published each day during the Settlement Period by Platts in the Dirty Tankerwire report under the heading "West of Suez Dirty Tankers" and "Aframax" in "$/mt" for the route UK Continent to UK Continent for cargoes of 80,000 metric tons for each business 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 705
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing