European Naphtha (Platts) Crack Spread Futures - Contract Specs
| Contract Unit | 1,000 barrels |
|---|---|
| Price Quotation | U.S. dollars and cents per barrel |
| Trading Hours | Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) |
| Minimum Price Fluctuation | 0.001 per barrel = $1.00 |
| Product Code | CME Globex: EN CME ClearPort: EN Clearing: EN |
| Listed Contracts | Monthly contracts listed for the current year and the next 3 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 high and low quotations from the Platts European Marketscan for Northwest Europe Naphtha Physical under the heading ""Cargoes CIF NWE Basis ARA"" minus the Brent Crude Oil (ICE) Futures first nearby contract settlement price for each business day during the contract month (using Non-common pricing), except as set forth in Section (B) below. For purposes of determining the Floating Price, the Platts Naphtha assessment price will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent. The conversion factor will be 8.9 barrels per metric ton. (B) The settlement price of the first nearby contract month for will be used except on the last day of trading for the expiring Brent Crude Oil Futures contract when the settlement price of the second nearby contract will be used." |
| Termination of Trading | Trading terminates on the last business day of the contract month. |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
