3.5% Fuel Oil CIF Med (Platts) vs. 3.5% Fuel Oil FOB Med (Platts) BALMO
Futures
3.5% Fuel Oil CIF Med (Platts) vs. 3.5% Fuel Oil FOB Med (Platts) BALMO 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 | CME Globex: 0.01 per metric ton = $10.00 CME ClearPort: 0.001 per metric ton = $1.00 |
| Product Code | CME Globex: CMB CME ClearPort: CMB Clearing: CMB |
| Listed Contracts | Monthly BALMO contracts listed for 3 consecutive months. |
| Settlement Method | Financially Settled |
| Floating Price | The Floating Price for each contract month is equal to the balance of month arithmetic average of the mid-point of the high and low quotations from the Platts European Marketscan for 3.5% Fuel Oil under the heading "Cargoes CIF Med (Genoa/Lavera)" minus 3.5% Fuel Oil under the heading "FOB Med (Italy)" for each business day during the contract month (using Non-common pricing). 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 | Trading terminates on the last business day of the contract month |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
