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Freight Route TD3C (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: T3B
CME ClearPort: T3B
Clearing: T3B
Listed Contracts Daily contracts listed for the current month and the next 2 calendar 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 rate published each day during the Settlement Period by Platts in the Dirty Tankerwire report for Middle East Gulf to China for cargoes of 270,000 metric tons valued in Worldscale points starting from the selected start date through the end of the Settlement Period, multiplied by the applicable Worldscale flat rate for the TD3C route (as defined by Baltic Exchange).
The Floating Price is determined by multiplying each daily freight rate by the applicable Worldscale flat rate (for that day), and subsequently calculating the balance of month average for 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 872
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing