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Mini East-West Fuel Oil Spread (Platts) Futures Contract Specs

Contract Unit 100 metric tons
Price Quotation USD per metric ton
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 $0.001 per metric ton
Product Code CME Globex: MEW
CME ClearPort: MEW
Clearing: MEW
Listed Contracts Current year and the next 5 consecutive years
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 Asia-Pacific Marketscan for Singapore 180cst Residual Fuel (Waterborne Cargo) price minus the arithmetic average of the high and low quotations from the Platts European Marketscan for 3.5% Fuel Oil under the heading "Barges FOB Rotterdam" for each business day during the contract month (using Non-common pricing). 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 Last business day of the contract month
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 989
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing