Japan C&F Naphtha (Platts) Brent 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: AJB CME ClearPort: JB Clearing: JB |
| Listed Contracts | Monthly contracts listed for 36 consecutive months |
| 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 Asia Pacific/Arab Gulf Marketscan for Naphtha under the heading "C&F Japan" minus the ICE Brent Crude Oil Futures first nearby contract settlement price for each business day during the contract month (using Non-common pricing). 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 tenth of a cent. The conversion factor will be 8.9 barrels per metric ton. The settlement price of the first nearby contract month will be used except on the last day of trading for the expiring ICE Brent Crude Oil Futures contract when the settlement price of the second nearby ICE Brent Crude Oil Futures contract will be used. |
| Termination of Trading | Trading terminates on the last business day of the contract month. |
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| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
