|Contract Unit||1,000 Metric Tons|
|Price Quotation||U.S. Dollars and Cents per Metric Tons|
|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: TC9CME ClearPort: TC9Clearing: TC9|
|Listed Contracts||Monthly contracts listed for the current year and the next 2 calendar years.Monthly contracts for a new calendar year will be added 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 rate published each day during the Settlement Period by the Baltic Exchange for the TC9 route (i.e. Primorsk, Russia to Le Havre, France for cargoes of 30,000 metric tons, or as subsequently amended) valued in Worldscale points multiplied by the applicable Worldscale flat rate for the TC9 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 945|
|Block Minimum||Block Minimum Thresholds|
|Vendor Codes||Quote Vendor Symbols Listing|