Freight Route West Coast India to Japan (TC12) (Baltic)
Futures
Freight Route West Coast India to Japan (TC12) (Baltic) Futures - Contract Specs
| Contract Unit | 1,000 metric tons |
|---|---|
| Price Quotation | U.S. dollars and cents per metric ton |
| Trading Hours | CME Globex: Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT CME ClearPort: Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday from 4:00 p.m. - 5:00 p.m. CT |
| Minimum Price Fluctuation | 0.0001 per metric ton = $0.10 |
| Product Code | CME Globex: FRS CME ClearPort: FRS Clearing: FRS |
| Listed Contracts | Monthly contracts listed for 24 consecutive months |
| 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 TC12 freight route (Sikka, Jamnagar, India to Chiba, Japan 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. |
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