CPC Blend CIF Med Cargoes (Platts) vs. Dated Brent (Platts)
Futures
CPC Blend CIF Med Cargoes (Platts) vs. Dated Brent (Platts) Futures - Contract Specs
| Contract Unit | 1,000 Barrels |
|---|---|
| Price Quotation | U.S. dollars and cents per barrel |
| 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) |
| Minimum Price Fluctuation | CME Globex: 0.01 per barrel = $10.00 CME ClearPort: 0.001 per barrel = $1.00 |
| Product Code | CME Globex: CPD CME ClearPort: CPD Clearing: CPD |
| Listed Contracts | Monthly contracts listed for 12 consecutive months |
| Settlement Method | Financially Settled |
| Floating Price | The Floating Price for each contract month is the arithmetic average of the mid-point between the high and low quotations from the Platts Crude Oil Marketwire, under the heading Mediterranean spot crude assessments "CPC Blend CIF" minus the arithmetic average of the mid-point between the high and low quotations from the Platts Crude Oil Marketwire under the heading Forward Dated Brent for "Mediterranean Dated Strip"for each business day that both are determined during the contract month. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated 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 | |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
