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Mini Naphtha Cargoes CIF NWE (Argus) Crack Spread (100mt) Futures Contract Specs

Contract Unit 890 Barrels (100 Metric Tons)
Price Quotation U.S. Dollars and Cents per Barrel
Trading Hours Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. EST) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. EST)
Minimum Price Fluctuation $0.001 per Barrel
Product Code CME Globex: NCC
CME ClearPort: NCC
Clearing: NCC
Listed Contracts Monthly contracts listed for the current year and the next 3 calendar years.Monthly contracts for a new calendar year will be added 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 mid-point between the high and low quotations from the Argus Media European Products report under the heading Northwest Europe Light Products "cif" for "Naphtha 65 Para" minus the ICE Brent Crude Oil Futures first nearby contract settlement price for each business day during the contract month. For the purpose of determining the Floating Price, the Argus Naphtha price assessment will be converted each day to U.S. dollars and cents per barrel rounded to the nearest cent using the conversion factor of 8.9 barrels per metric ton. The settlement price of the first nearby Brent Crude Oil Futures contract month will be used except on the last day of trading for the expiring Brent Crude Oil Futures contract when the settlement price of the second nearby contract month 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 1203
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing