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USGC to UK Continent (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 = $0.10
Product Code CME Globex: USE
CME ClearPort: USE
Clearing: USE
Listed Contracts Monthly contracts listed for current year and the next 5 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the high and low quotations from the "Platts Dirty Tankerwire" under the heading "America's Dirty Tankers" subheading "Aframax" (70kt) and "$mt" for the USGC to UK Continent 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 678
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing