Q. What constitutes a Block Trade?
A. A block trade is a futures transaction executed off the Exchange. In order to be considered a Block Trade, the trade must satisfy the following conditions:
Minimum Block Size
|Submisssion Time Requirements|
|DME Oman Crude Oil Futures (OQD)||50 lots||5 mins|
|Dubai Crude Oil (Platts) Futures (DCD)||5 lots||15 mins|
|Brent vs. Dubai (Platts) Crude Oil Futures (DBI)||5 lots||15 mins|
|Brent (Singapore Marker) vs. DME Oman Crude Oil Futures (BDS)||5 lots||5 mins|
|DME Oman vs. Dubai (Platts) Crude Oil Futures (DDO)||5 lots||15 mins|
|DME Oman Crude Oil Financial (ZGD)||50 lots||5 mins|
|DME Oman Crude Oil BALMO Futures (DDB)||5 lots||5 mins|
|DME Oman Crude Oil Calendar Futures (ODO)||5 lots||5 mins|
|DME Oman Crude Oil European Style Option (OQE)||50 lots||5 mins|
|DME Oman Crude Oil Average Price Option (DRD)||5 lots||5 mins|
|Dubai Crude Oil (Platts) Average Price Option (DAH)||5 lots||15 mins|
|Dubai Crude Oil (Platts) BALMO Futures (DDI)||5 lots||15 mins|
|Brent vs. Dubai (Platts) Crude Oil BALMO Futures (DHI)||5 lots||15 mins|
|Singapore Jet Kerosene (Platts) vs. DME Oman Crude Oil Futures (DKR)||5 lots||15 mins|
|Singapore Mogas 92 Unleaded (Platts) vs. DME Oman Crude Oil Futures (DDE)||5 lots||15 mins|
|Singapore Fuel Oil 180 cst (Platts) Futures (DUP)||3 lots||15 mins|
|Singapore Fuel Oil 380 cst (Platts) Futures (DSE)||3 lots||15 mins|
|Singapore Fuel Oil 180 cst vs. 380 cst (Platts) Futures (DSD)||3 lots||15 mins|
Price is fair and reasonable in light of the size of the block trade and other transactions done in the same contract at the same time
Orders have not been aggregated
Order was specified as a "block" by initiating customer in advance
Accurate records have been kept by the broker
Q. How do I place a Block Trade order?
A. If the order is for the minimum block size or above, when placing your order with the broker, you need to advise that you wish the trade to be entered as a block trade. The trade details will be entered either into CME ClearPort Clearing or Front End Clearing. To submit Block Trades via CME ClearPort Clearing, counterparties must be registered to use CME ClearPort Clearing. A broker can submit the Block Trade on behalf of the counterparties, or alternatively, the CME ClearPort Facilitation Desk (tel. +1 212 299 2457 or email email@example.com) can also submit the trade to CME ClearPort Clearing on the counterparties' behalf.
For submission of Block Trades for clearing through CME Front End Clearing, the counterparties send details of their Block Trade to their respective Clearing Members, provided the Clearing Members have access to CME Front End Clearing. Access to FEC is granted by the CME to Clearing Members only.
For further details please refer to Rule 6.30 in the DME Rulebook.