CONTRACT UNIT

1,000 barrels

PRICE QUOTATION

U.S. dollars and cents per barrel

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

TAS: Sunday - Friday 5:00 p.m. - 1:30 p.m. CT

CME ClearPort:

Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday from 4:00 p.m. - 5:00 p.m. CT

MINIMUM PRICE FLUCTUATION

0.01 per barrel = $10.00

TAS: Zero or +/- 10 ticks in the minimum tick increment of the outright

PRODUCT CODE

CME Globex: CL

CME ClearPort: CL

Clearing: CL

TAS: CLT

TAM: "CLS","CLC","CLL"

LISTED CONTRACTS

Monthly contracts listed for the current year and the next 10 calendar years and 2 additional contract months.  List monthly contracts for a new calendar year and 2 additional contract months following the termination of trading in the December contract of the current year.

SETTLEMENT METHOD

Deliverable

TERMINATION OF TRADING

Trading terminates 3 business day before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is not a business day, trading terminates 4 business days before the 25th calendar day of the month prior to the contract month.

TAM or TAS Rules

Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a "Base Price" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price.

Trading at Marker (TAM) is analogous to Trading at Settlement (TAS) wherein parties are permitted to trade at a differential to a not-yet-known price. TAM uses a marker price, whereas TAS uses the Exchange-determined daily settlement price for the underlying futures contract month. 

►TAS Table

SETTLEMENT PROCEDURES

►Crude Oil Futures Settlement Procedures

POSITION LIMITS

►NYMEX Position Limits

EXCHANGE RULEBOOK

►NYMEX 200

BLOCK MINIMUM

►Block Minimum Thresholds

PRICE LIMIT OR CIRCUIT

►Price Limits

VENDOR CODES

►Quote Vendor Symbols Listing

DELIVERY PPROCEDURE

Delivery shall be made free-on-board ("F.O.B.") at any pipeline or storage facility in Cushing, Oklahoma with pipeline access to Enterprise, Cushing storage, Enbridge, Cushing storage or Plains, Cushing storage. Delivery shall be made in accordance with all applicable Federal executive orders and all applicable Federal, State and local laws and regulations.

At buyer's option, delivery shall be made by any of the following methods: (1) by interfacility transfer ("pumpover") into a designated pipeline or storage facility with access to seller's incoming pipeline or storage facility; (2) by in-line (or in-system) transfer, or book-out of title to the buyer; or (3) if the seller agrees to such transfer and if the facility used by the seller allows for such transfer, without physical movement of product, by in-tank transfer of title to the buyer.

DELIVERY PERIOD

(A) Delivery shall take place no earlier than the first calendar day of the delivery month and no later than the last calendar day of the delivery month.

(B) It is the short's obligation to ensure that its crude oil receipts, including each specific foreign crude oil stream, if applicable, are available to begin flowing ratably in Cushing, Oklahoma by the first day of the delivery month, in accord with generally accepted pipeline scheduling practices.

(C) Transfer of title-The seller shall give the buyer pipeline ticket, any other quantitative certificates and all appropriate documents upon receipt of payment.

The seller shall provide preliminary confirmation of title transfer at the time of delivery by telex or other appropriate form of documentation.

GRADE AND QUALITY

Please see rulebook chapter 200

CONTRACT UNIT

1,000 barrels

MINIMUM PRICE FLUCTUATION

0.01 per barrel = $10.00

PRICE QUOTATION

U.S. dollars and cents per barrel

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)

PRODUCT CODE

CME Globex: LO

CME ClearPort: LO

Clearing: LO

LISTED CONTRACTS

Monthly contracts listed for the current year and the next 10 calendar years and 2 additional contract months.  List monthly contracts for a new calendar year and 2 additional contract months following the termination of trading in the December contract of the current year.

TERMINATION OF TRADING

Trading terminates 3 business days before the corresponding CL contract month or 6 business days before the 25th calendar of the month prior to the contract month. If the 25th calendar day is not a business day, trading terminates 7 business days before the 25th calendar day of the month prior to the contract month.

POSITION LIMITS

►NYMEX Position Limits

EXCHANGE RULEBOOK

►NYMEX 310

BLOCK MINIMUM

►Block Minimum Thresholds

VENDOR CODES

►Quote Vendor Symbols Listing

STRIKE PRICES STRIKE PRICE INTERVAL

►Strike Price Listing and Exercise Procedures Table

SETTLEMENT METHOD

Deliverable

UNDERLYING

Light Sweet Crude Oil Futures