Contract Unit 100 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 $0.001 per metric ton
Product Code CME Globex: T2M
CME ClearPort: T2M
Clearing: T2M
Listed Contracts Daily contracts listed for 3 consecutive months
Settlement Method Financially Settled
Floating Price The Floating Price for each contract day is equal to the freight rate published by the Baltic Exchange for the TD20 freight route (i.e. Bonny, Nigeria to Rotterdam, Netherlands for cargoes of 130,000 metric tons. Or as subsequently amended) for that business day valued in Worldscale points, multiplied by the applicable Worldscale flat rate for the TD20 route (as defined by Baltic Exchange).
Termination Of Trading Trading terminates at the close of the business day of the daily contract.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 891
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing