CME Group Freight Route TC17 (Baltic)

The Freight Route TC17 (Baltic) contract became effective on the CME trading group on July 27th, 2020.
Freight Route TC17 (Baltic) Futures	Freight Route TC17 (Baltic) Futures 	Freight Route TC17 (Baltic) Futures 	
Contract Unit 	1,000 metric tons 	1,000 metric tons 	
Price Quotation 	U.S. dollars and cents per metric ton 	U.S. dollars and cents per metric ton 	
Trading Hours 	Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET) 	Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET) 	
Minimum Price Fluctuation 	0.0001 per metric ton = $0.10 	0.0001 per metric ton = $0.10 	
Product Code 	CME Globex: T7C
CME ClearPort: T7C
Clearing: T7C 	CME Globex: T7C
CME ClearPort: T7C
Clearing: T7C 	
Listed Contracts 	Monthly contracts listed for the current year and the next 5 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year. 	Monthly contracts listed for the current year and the next 5 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 	Financially Settled 	
Floating Price 	The Floating Price for each contract month is equal to the arithmetic average of the freight rate published each day during the Settlement Period by the Baltic Exchange for the TC17 freight route (i.e. Jubail to Dar es Salaam) for cargoes of 35,000 metric tons, or as subsequently amended valued in Worldscale points multiplied by the applicable Worldscale flat rate for the TC17 route (as defined by Baltic Exchange).
The Floating Price is determined by multiplying each daily freight rate by the applicable Worldscale flat (for that day), and subsequently calculating the average for the Settlement Period.	The Floating Price for each contract month is equal to the arithmetic average of the freight rate published each day during the Settlement Period by the Baltic Exchange for the TC17 freight route (i.e. Jubail to Dar es Salaam) for cargoes of 35,000 metric tons, or as subsequently amended valued in Worldscale points multiplied by the applicable Worldscale flat rate for the TC17 route (as defined by Baltic Exchange).
The Floating Price is determined by multiplying each daily freight rate by the applicable Worldscale flat (for that day), and subsequently calculating the average for the Settlement Period.	The Floating Price for each contract month is equal to the arithmetic average of the freight rate published each day during the Settlement Period by the Baltic Exchange for the TC17 freight route (i.e. Jubail to Dar es Salaam) for cargoes of 35,000 metric tons, or as subsequently amended valued in Worldscale points multiplied by the applicable Worldscale flat rate for the TC17 route (as defined by Baltic Exchange).
The Floating Price is determined by multiplying each daily freight rate by the applicable Worldscale flat (for that day), and subsequently calculating the average for the Settlement Period.
Termination of Trading 	For contract months January to November inclusive: Trading terminates on the last business day of the calendar month. For December contract months: Trading terminates on the 24th calendar day of the month or if this is not a business day, the first preceding business day	For contract months January to November inclusive: Trading terminates on the last business day of the calendar month. For December contract months: Trading terminates on the 24th calendar day of the month or if this is not a business day, the first preceding business day	
Position Limits 	NYMEX Position Limits 	NYMEX Position Limits 	
Exchange Rulebook 	NYMEX 685 	NYMEX 685 	
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds 	
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing 	
== Notes ==
== References ==
== Resources ==
Freight Route TC17 (Baltic) Futures Contract Specs
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