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Freight Route TD3C (Baltic) Futures Contract Specs
| Contract Unit | 1,000 metric tons | ||||
| Price Quotation | U.S. dollars and cents per metric ton | ||||
| Trading Hours | Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) | ||||
| Minimum Price Fluctuation | 0.0001 per metric ton = $0.10 | ||||
| Product Code | CME Globex: TLCME ClearPort: TLClearing: TL | ||||
| Listed Contracts | Monthly contracts listed for the current year and the next 5 consecutive 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 rates for each business day that the TD3C Tanker Route (for 270,000 metric tons for Middle East Gulf to China) 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. |
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| Termination Of Trading | Trading terminates on the last business day of the contract month. | ||||
| Settlement Procedures | Daily Baltic Freight Futures Settlement Procedure | ||||
| Position Limits | NYMEX Position Limits | ||||
| Exchange Rulebook | NYMEX 684 | ||||
| Block Minimum | Block Minimum Thresholds | ||||
| Vendor Codes | Quote Vendor Symbols Listing | ||||
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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.
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Phone: +1 312 930 1000
Toll Free (US Only): +1 866 716 7274
