3.5% Fuel Oil CIF Med (Platts) vs. 3.5% Fuel Oil FOB Med (Platts)
Futures
3.5% Fuel Oil CIF Med (Platts) vs. 3.5% Fuel Oil FOB Med (Platts) 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: CMF CME ClearPort: CMF Clearing: CMF |
| Listed Contracts | Monthly contracts listed for the current year and the next 2 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 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 |
