What do you mean the exchanges don t and shouldn t get involved in measurement standards Of course it s not up to an exchange to DEFINE a standard but since the NYMEX defines so many technical aspects of oil trade when it s traded where it s delivered quality aspects sulphur etc it s strange that they don t define the quantum or unit of trade in terms of STANDARD UNITS such as by weight lbs or kg or by volume cubic feet yards or meters or gallons or liters It s a CONTRACT after all and a good contract leaves NOTHING unexplained or uncertain