CME Group UCO T1 CIF ARA Excluding Duty (PRIMA) vs Low Sulphur Gasoil

From MarketsWiki
Jump to navigation Jump to search



The UCO T1 CIF ARA Excluding Duty (PRIMA) vs Low Sulphur Gasoil futures is a financial instrument traded on the New York Mercantile Exchange (NYMEX), which is part of the CME Group. This futures contract provides a market for hedging and speculating on the price movements between used cooking oil (UCO) and low sulphur gasoil, reflecting the dynamics of the renewable energy and traditional fuel markets respectively.

Overview[edit]

The UCO T1 CIF ARA Excluding Duty (PRIMA) vs Low Sulphur Gasoil futures contract is designed to track the price differential between used cooking oil, assessed CIF (Cost, Insurance, and Freight) at Amsterdam-Rotterdam-Antwerp (ARA) excluding duty, and low sulphur gasoil. The contract size is standardized at 100 metric tons, and it is quoted in US dollars and cents per metric ton.

CME Group UCO T1 CIF ARA Excluding Duty (PRIMA) vs Low Sulphur Gasoil was officially listed on Augest 17th, 2020 along with 4 other European renewable fuel futures contracts.[1]

UCO T1 CIF ARA Excluding Duty (PRIMA) vs Low Sulphur Gasoil Futures
Contract Unit 100 metric tons
Price Quotation U.S. dollars and cents per metric ton
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation 0.001 per metric ton = $0.10
Product Code CME Globex: USG

CME ClearPort: USG

Clearing: USG

Listed Contracts Monthly contracts listed for 12 consecutive months
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 Prima Daily Low Carbon Fuels Report for T1 UCO non-EU under the heading for Europe for ""T1 Non-EU UCO CIF ARA” for each business day that the Floating Price is determined during the contract month minus the arithmetic average of the ICE Low Sulphur Gasoil Futures first nearby contract month settlement price for each business day that it is determined during the contract month, except as noted below. The settlement price of the 1st nearby ICE Low Sulphur Gasoil Futures contract month will be used except on the last day of trading for the expiring ICE Low Sulphur Gasoil Futures contract when the settlement price of the 2nd nearby ICE Low Sulphur Gasoil Futures. The Floating Price is calculated using the non-common pricing convention. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated by using all trading days in the month for each component leg of the spread, followed by the calculation of the spread differential between the two averages.
Termination of Trading Trading terminates on the last London and U.S. business day of the contract month
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1268
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing

Notes[edit]

References[edit]

Resources[edit]

Notes[edit]