Trading Unit

 

1,000 U.S. barrels (42,000 gallons)

 

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Price Quotation

 

U.S. dollars and cents per barrel

 

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Trading Symbol on Globex

 

OQD (referred as OQ on CME Clearing)

 

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Trading Hours

 

Electronic trading is open from 1600 North American Central Standard Time / Central Daylight Time (CST/CDT) Sundays and from 1645 CST/CDT Monday to Thursday and closes at 1600 CST/CDT the next day, Monday to Friday.

 

Singapore is 14 hours ahead of CST and Dubai is 10 hours ahead. The time difference is reduced by one hour when CDT is in effect. Neither Dubai nor Singapore observe Daylight Savings Time.

 

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Trading Months

 

The current year and the next five years will be listed. A new calendar year will be added following the termination of trading in the December contract of the current year.

 

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Minimum Price Fluctuation

 

$0.01 (1) per barrel ($10.00 per contract)

 

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Maximum Daily Price Fluctuation

 

None

 

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Daily Marker and Settlement Price

 

A daily Marker price will be published as at 1630 Singapore time (1230 Dubai Time, 0230 CST or 0330 CDT). This price represents the weighted average price of trades in the nearby Contract Month between 1625 and 1630 (Singapore Time).

 

DME will also publish an end of trading day settlement price for all listed Contract Months, determined as at 1330 CST/CDT, which coincides with the end of the trading day for NYMEX Light Sweet Crude Oil. This latter settlement price is used by the Clearing House to calculate daily variation margin on all open DME Contracts.

 

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Final Marker Price

 

The Final Marker Price for a Contract Month shall be the marker price on the last Trading Day of the Contract Month. This price represents the weighted average price of trades in the second nearby Contract Month between 1625 and 1630 Singapore Time plus or minus the Price Adjustment Factor.

 

The Final Settlement Price will be used for purposes of margins for delivery of the Oil.

 

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Last Trading Day

 

Trading in the nearby Contract Month shall cease on the last Trading Day of the second month preceding the Delivery Month.

 

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Settlement Type

 

Physical

 

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Delivery

 

F.O.B at the Loading Port, consistent with current terminal operations. Complete delivery rules and provisions are detailed in Chapter 10 of the rulebook.

 

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Governing Law

 

English Law

 

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Holidays

 

DME Trading and Settlement for US Holiday Calendar 2018 Contract		Trading for Business Day	DME Marker Price	DME Settlement
Martin Luther King Day	Monday, 16th January, 2023	Tuesday, 19th January, 2023	Yes	No
Presidents' Day	Monday, 20th February, 2023	Tuesday, 21st February, 2023	Yes	No
Good Friday	Friday, 7th April, 2023	Closed	No	No
Memorial Day	Monday, 29th May, 2023	Tuesday, 30th May, 2023	Yes	No
Juneteenth	Monday, 19th June, 2023	Tuesday, 20th June 2023	Yes	No
Independence Day	Tuesday, 4th July, 2023	Wednesday, 5th July, 2023	Yes	No
Labor Day	Monday, 4th September, 2023	Tuesday, 5th September, 2023	Yes	No
Thanksgiving Day	Thursday, 23rd November, 2023	Friday, 24th November, 2023	Yes	No
Christmas Day	Monday, 25th December, 2023	Closed	No	No
New Year Day 2023	Monday, 1st January, 2024	Closed	No	No

 

Disclaimer

See Legal Disclaimers (“DISCLAIMERS”) incorporated herein by reference.