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Singapore Fuel Oil 380cst (Platts) Brent Crack Spread (1000mt) Futures Contract Specs

Contract Unit 6350 barrels which is equal to 1000 metric tons
Price Quotation Quoted in Dollar and Cent per barrels
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 Quoted in multiples of Dollar 0.001 per barrel ($6.35 per lot).
Product Code CME Globex: SF3
CME ClearPort: SF3
Clearing: SF3
Listed Contracts 48 consecutive months
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the mid-point of the high and low quotations from the Platts Asia-Pacific Marketscan for HSFO 380cst (High-Sulfur Fuel Oil) under the heading "Singapore Physical Cargoes" minus the Brent Crude Oil (ICE) Futures first nearby contract settlement price for each business day during the contract month, except as set forth below.
 
The settlement price of the first nearby Brent Crude Oil (ICE) Futures contract month will be used except on the last day of trading for the expiring Brent Crude Oil (ICE) Futures contract when the settlement price of the second nearby contract month will be used.
 
For purposes of determining the Floating Price, the Platts Fuel Oil assessment price will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent. The conversion factor will be 6.35 barrels per metric ton.
 
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
Settlement Procedures Financial
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1110
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing