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Low Sulphur Gasoil Crack Spread (1000mt) BALMO Financial Futures Contract Specs

Contract Unit 7,450 barrels (1,000 metric tons)
Price Quotation U.S. dollars and cents per barrel
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 0.001 per barrel = $7.45
Product Code CME Globex: ESS
CME ClearPort: ESS
Clearing: ESS
Listed Contracts Monthly BALMO contracts listed for 3 consecutive months
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the Balance of Month arithmetic average of the ICE Low Sulphur Gasoil Futures first nearby contract settlement price minus the ICE Brent Crude Oil Futures first nearby contract settlement price for each business day during the contract month (using Non-common pricing).

For purposes of determining the Floating Price, the ICE Low Sulphur Gasoil settlement price will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent. The conversion factor will be 7.45 barrels per metric ton. The settlement prices of the 1st nearby contract month will be used except on the last day of trading for the expiring Brent Crude Oil and ICE Low Sulphur Gasoil Futures contracts when the settlement prices of the 2nd nearby contracts will be used.

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 business day of the contract month
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1061
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing