|Contract Unit||1,000 metric tons|
|Price Quotation||U.S. dollars and cents per metric ton|
|Trading Hours||CME Globex:||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)||CME ClearPort:||Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday 4:00 p.m. – 5:00 p.m. CT|
|Minimum Price Fluctuation||0.0001 per metric ton = $0.10|
|Product Code||CME Globex: T8CCME ClearPort: T8CClearing: T8C|
|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 November 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 rate published each day during the Settlement Period by the Baltic Exchange for the TC18 freight route (i.e. US Gulf to Brazil) for cargoes of 38,000 metric tons, or as subsequently amended) valued in Worldscale points multiplied by the applicable Worldscale flat rate for the TC18 route (as defined by Baltic Exchange).
The Floating Price is determined by multiplying each daily freight rate by the applicable Worldscale flat (for that day), and subsequently calculating the 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 689|
|Block Minimum||Block Minimum Thresholds|
|Vendor Codes||Quote Vendor Symbols Listing|