Middle East Fuel Oil 380 cst (Platts) Futures Contract Summary (DES)
1,000 metric tons
U.S. dollars dollars and cents per metric ton
Trading Symbol on Globex
Electronic trading is open from 1600 North American Central Standard Time / Central Daylight Time (CST/CDT) Sundays and from 1645 CST/CDT Monday to Thursday and closes at 1600 CST/CDT the next day, Monday to Friday.
Singapore is 14 hours ahead of CST and Dubai is 10 hours ahead. The time difference is reduced by one hour when CDT is in effect. Neither Dubai nor Singapore observe Daylight Savings Time.
Minimum Price Fluctuation
$0.001 per metric ton ($1.00 per contract) on CME Clearport and $0.01 per metric ton ($10.00 per contract) on CME Globex
Maximum Daily Price Fluctuation
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 Asia-Pacific/ Arab Gulf Marketscan for Middle East HSFO 380 cst (High-Sulfur Fuel Oil) under the heading "HSFO 380 CST FOB Arab Gulf" for each Trading Day that it is determined during the contract month.
Final Settlement Price
Final settlement, following termination of trading for a contract month, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract month.
Last Trading Day
Trading in the nearby Contract Month shall cease on the last Trading Day of the contract month.
PlattsTM is a trademark of S&P Global Inc. and has been licensed for use by DME. The Middle East Fuel Oil 380 cst (Platts) Futures Contract is not sponsored, endorsed, sold or promoted by PLATTS and PLATTS makes no representation regarding the advisability of buying, selling and/or investing in the Middle East Fuel Oil 380 cst (Platts) Futures Contract.