CME Group Methanol CFR China Specific Origin (ICIS)

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Methanol CFR (cost & freight) China Specific Origins (ICIS) is a methanol futures contract that is based on the ICIS' spot assessment for cargoes of specific origins delivered to China. This includes Bahrain, Brunei, Chile, Indonesia, Malaysia, New Zealand, Oman, Qatar, Saudi Arabia, Trinidad, and the US. The contract has a size of 100 tonnes with a minimum threshold of five contracts traded in block transactions in a 15-minutr reporting statement.[1]

The contract was officially listed on the New York Stock Exchange on February 22nd, 2021.[2]

Contract Specs[edit]

Methanol CFR China Specific Origin (ICIS) Futures
Contract Unit 100 metric tons
Price Quotation U.S. dollars and cents per metric ton
Trading Hours CME Globex: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT
CME ClearPort: Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday 4:00 p.m. – 5:00 p.m. CT
Minimum Price Fluctuation 0.01 per metric tons = $1.00
Product Code CME Globex: CMS

CME ClearPort: CMS Clearing: CMS

Listed Contracts Monthly contracts listed for current year and the next calendar year.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
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the mid-point of the bid and ask quotations from ICIS publication for "Methanol CFR China Assessment Specific Origins Spot Weekly" for each business day that the Floating Price is determined during the contract month.
Termination of Trading For January to November contract months: Trading terminates at the close of trading on the last Friday of the contract month. If such Friday is not an Exchange business day, trading terminates on the business day immediately prior.

For the December contract month: Trading terminates at the close of trading on the last Friday prior to the 25th calendar day of the month. If such Friday is not an Exchange business day, trading terminates on the business day immediately prior.

Exchange Rulebook NYMEX 994[3]
Block Minimum Block Minimum Thresholds[4]
Vendor Codes Quote Vendor Symbols Listing[5]

References[edit]

Resources[edit]

Notes[edit]