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RBOB Gasoline vs Eurobob Non-Oxy NWE Barges (Argus) (349,860 gallons) Futures Contract Specs

Contract Unit 349,860 gallons (1,000 metric tons)
Price Quotation U.S. dollars and cents per gallon
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 0.00001 per Gallon = $3.4986
Product Code CME Globex: RGF
CME ClearPort: RGF
Clearing: RGF
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 RBOB Gasoline Futures first nearby contract month settlement price minus the high and low quotations from the Argus Media European Products Report under the heading Northwest Europe Light Products barges for Eurobob Non-Oxy for each business day during the contract month (using non-common pricing). For purposes of determining the Floating Price, the Eurobob Non-Oxy assessment price will be converted each day to U.S. dollars and cents per gallon, using the conversion factor of 8.33 barrels per metric ton, and 42 gallons per barrel. 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 1030
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing