Freight Route Singapore to East Coast Australia (TC7) (Baltic)
Futures
Freight Route Singapore to East Coast Australia (TC7) (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: TC7 CME ClearPort: TC7 Clearing: TC7 |
| 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 TC7 freight route (Singapore to EC Australia 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 | Jan - Nov: Trading terminates on the last London and Singapore business day of the contract month. Dec: Trading terminates on the 24th day of the contract month. If this is not a London and Singapore business day, trading terminates on the prior London and Singapore business day. |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
