EIA FLAT TAX U.S. RETAIL GASOLINE FUTURES - CONTRACT SPECS
| Contract Unit | 42,000 gallons | ||||
| Price Quotation | U.S. dollars and cents per gallon. | ||||
| Trading Hours | CME Globex: | 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) | CME ClearPort: | 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 gallon | ||||
| Product Code | CME Globex: JECME ClearPort: JEClearing: JE | ||||
| Listed Contracts | 36 consecutive months | ||||
| Settlement Method | Financially Settled | ||||
| Floating Price | The Floating Price for each contract month is equal to the monthly arithmetic average of the weekly price published by the U.S. Department of Energy’s Energy Information Administration ("EIA") for U.S. Regular Gasoline Prices under the heading "Weekly U.S. Retail Gasoline Prices, Regular Grade" for the entire U.S. adjusted for the tax rates in effect as of January 1, 2010. For purposes of this contract, the counterparties agree that the following Market Disruption Event shall apply: Tax Event, provided that such Tax Event shall be defined as follows: the imposition of, change in, or removal of, an excise, severance, sales, use, value-added, environmental, emissions, transfer, stamp, documentary, recording or similar tax on, or measured by reference to, gasoline (other than a tax on, or measured by reference to overall gross or net income) by or at the direction of the federal government (or any agency or organ thereof) after the Trade Date, if the direct effect of such imposition, change or removal is to raise (a "Tax Increase") or lower (a "Tax Decrease") the Floating Price from what it would have been without that imposition, change or removal. If the Tax Event has occurred and exists, the following Reset Price shall apply: the Floating Price, plus any Tax Decrease or less any Tax Increase, as applicable. | ||||
| Termination Of Trading | Trading shall cease on the last business day of the contract month. | ||||
| Position Limits | NYMEX Position Limits | ||||
| Exchange Rulebook | NYMEX 313 | ||||
| Block Minimum | Block Minimum Thresholds | ||||
| Vendor Codes | Quote Vendor Symbols Listing | ||||
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