Freight Route Middle East to East Africa (TC17) (Baltic)
Futures
Freight Route Middle East to East Africa (TC17) (Baltic) Futures - Contract Specs
| Contract Unit | 1,000 metric tons |
|---|---|
| Price Quotation | U.S. dollars and cents per metric ton |
| 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 | 0.0001 per metric ton = $0.10 |
| Product Code | CME Globex: T7C CME ClearPort: T7C Clearing: T7C |
| Listed Contracts | Monthly contracts listed for the current year and the next 5 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 USD per metric ton rate for the TC17 freight route (Jubail to Dar es Salaam for cargoes of 35,000 metric tons or as subsequently amended) provided by the Baltic Exchange for each day that it is provided during the Settlement Period. The USD per metric ton rate is calculated by the Baltic Exchange from the published value in Worldscale points multiplied by the applicable Worldscale flat rate for the specified route. |
| Termination of Trading | For contract months January to November inclusive: Trading terminates on the last business day of the calendar month. For December contract months: Trading terminates on the 24th calendar day of the month or if this is not a business day, the first preceding business day |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
