|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 ton|
|Product Code||CME Globex: TKCME ClearPort: TKClearing: TK|
|Listed Contracts||Contracts listed for 36 consecutive months|
|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 the Baltic Exchange for the TD7 freight route (i.e. North Sea to Continent for cargoes of 80,000 metric tons, or as subsequently amended) valued in Worldscale points multiplied by the applicable Worldscale flat rate for the TD7 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 average for the Settlement Period.
|Termination Of Trading||
For contract months January to November inclusive: Trading terminates on the last business day of the calendar month.
For December contract months: Trading terminates on the 24th calendar day of the month, or if this is not a business day, the first preceding business day.
|Settlement Procedures||Daily Baltic Freight Swap Futures Settlement Procedure|
|Position Limits||NYMEX Position Limits|
|Exchange Rulebook||NYMEX 686|
|Block Minimum||Block Minimum Thresholds|
|Vendor Codes||Quote Vendor Symbols Listing|