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Freight Route TD25 (Baltic) 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: AEB
CME ClearPort: AEB
Clearing: AEB
Listed Contracts Monthly contracts listed for the current year and the next 5 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 rates for each business day that the TD25 Tanker Route (for 70,000 metric tons for US Gulf Coast to Med) is published by the Baltic Exchange over the contract month, converted to a US dollar per metric ton valuation at the prevailing Worldscale rate as published by Worldscale Association. If for any reason the Baltic Exchange cannot provide any rate required for establishing the Floating Price, then the Forward Freight Agreement Brokers Association (FFABA) may be instructed by either party to form a panel to establish any rate which will be binding on both parties.
Termination Of Trading For contract months January to November inclusive: the last business day of the calendar month. For December contract months: 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 676
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing