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European FOB Rdam Marine Fuel 0.5% (Platts) vs. European 3.5% FOB Barges (Platts) Futures Contract Specs

Contract Unit 1000 metric tons
Price Quotation U.S. dollars and cents per metric ton
Trading Hours Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
Minimum Price Fluctuation 0.001 per metric ton = $1.00 
Product Code CME Globex: R53
CME ClearPort: R53
Clearing: R53
Listed Contracts Monthly contracts listed for the current year and next 3 calendar years. Add 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 $/mt quotations  from the Platts European Marketscan under the heading “Marine Fuel” for “0.5% FOB Rotterdam cargo” minus the arithmetic average of the high and low quotations from the Platts European Marketscan under the heading "Barges FOB Rotterdam" for "3.5% Fuel Oil" for each business day during the contract month.
 
The Floating Price is calculated using the non-common pricing convention. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated by using all trading days in the month for each component leg of the spread, followed by the calculation of the spread differential between the two averages.
Termination Of Trading Trading terminates on the last London business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1425
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing