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Singapore Gasoil 500 ppm (Platts) vs. Low Sulphur Gasoil Futures Contract Specs

Contract Unit 1,000 barrels
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. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
Minimum Price Fluctuation 0.001 per barrel = $1.00
Product Code CME Globex: SGG
CME ClearPort: SGG
Clearing: SGG
Listed Contracts Monthly contracts listed for the current year and the next 2 calendar years. List monthly contracts for a new calendar year 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 of "Gasoil .05% S (500ppm) FOB Spore Cargo" by Platts for each business day that it is determined minus the arithmetic average for first line ICE Low Sulphur Gasoil Futures settlement price for each business day that it is determined during the contract month (using Non - common pricing).

For purposes of determining the Floating Price, the ICE Low Sulphur Gasoil Futures first nearby contract month settlement price will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent. The conversion factor will be 7.45 barrels per metric ton.

The settlement prices for the first nearby contract month will be used except on the last day of trading for the expiring  ICE Low Sulphur Gasoil Futures contract when the settlement prices of the second nearby ICE Low Sulphur Gasoil contract will be used.
Termination Of Trading Trading terminates on the last Singapore business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1325
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing