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RBOB Gasoline Futures Contract Specs

Contract Unit 42,000 gallons
Price Quotation U.S. dollars and cents per gallon
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)

TAS: Sunday - Friday 6:00 p.m. - 2:30 p.m. ET
Minimum Price Fluctuation 0.0001 per gallon = $4.20

TAS: Zero or +/- 10 ticks in the minimum tick increment of the outright
Product Code CME Globex: RB
CME ClearPort: RB
Clearing: RB
TAS: RBT
Listed Contracts Monthly contracts listed for the current year and the next 3 calendar years and 1 additional month. List monthly contracts for a new calendar year and 1 additional month following the termination of trading in the December contract of the current year.
Settlement Method Deliverable
Termination Of Trading Trading terminates on the last business day of the month prior to the contract month.
Trade At Marker Or Trade At Settlement Rules Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a "Base Price" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price.

Trading at Marker (TAM) is analogous to Trading at Settlement (TAS) wherein parties are permitted to trade at a differential to a not-yet-known price. TAM uses a marker price, whereas TAS uses the Exchange-determined daily settlement price for the underlying futures contract month.

TAS Table
Settlement Procedures RBOB Futures Settlement Procedures
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 191
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Delivery Procedure Please see rulebook chapter 191