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Freight Route TD3C (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: TD3
CME ClearPort: TD3
Clearing: TD3
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 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, multiplied by the applicable Worldscale flat rate for the TD3C route (as defined by, and or subsequently amended 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 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 871
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing