Asset Class Navigation

USGC to China (Platts) Dirty Freight 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. 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 = $0.10
Product Code CME Globex: USC
CME ClearPort: USC
Clearing: USC
Listed Contracts Monthly contracts listed for the current year and the next 5 consecutive years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the high and low quotations from the "Platts Dirty Tankerwire" under the heading "America's Dirty Tankers" subheading "VLCC" (270kt) and "$mt" for the USGC to China route for each business day that it is determined during the contract month.
Termination Of Trading Trading terminates on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 677
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing