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Contract Specifications for NYMEX NY Harbor ULSD Futures (HO)

EXCHANGE Chicago Mercantile Exchange (CME)
PRODUCT CODE CME Globex: HO
CME ClearPort: HO
Clearing: HO
TAS: HOT
TRADING HOURS (ALL TIMES ARE NEW YORK TIME/ET)
CME Globex:
Sunday – Friday 6:00 pm – 5:00 pm (5:00 pm – 4:00 pm Chicago Time/CT) with a 60-minute break each day beginning at 5:00 pm (4:00 pm CT)

CME Clear Port:
Sunday – Friday 6:00 pm – 5:00 pm (5:00 pm – 4:00 pm Chicago Time/CT) with a 60-minute break each day beginning at 5:00 pm (4:00 pm CT)

CONTRACT UNIT 42,000 gallons
PRICE QUOTATION U.S. dollars and cents per gallon
MINIMUM PRICE FLUCTUATION $0.0001 per gallon ($4.20 per contract)
PRICE LIMIT OR CIRCUIT NYMEX 150
TERMINATION OF TRADING Trading in a current month shall cease on the last business day of the month preceding the delivery month.
TRADE AT MARKER OR TRADE AT SETTLEMENT RULES Trading at settlement is available for spot (except on the last trading day), 2nd, 3rd and 4th months and subject to the existing TAS rules. Trading in all TAS products will cease daily at 2:30 PM Eastern Time. The TAS products will trade off of a “Base Price” of 0 to create a differential (plus or minus 10 ticks) versus settlement in the underlying product on a 1 to 1 basis. A trade done at the Base Price of 0 will correspond to a “traditional” TAS trade which will clear exactly at the final settlement price of the day.

TAM trading is analogous to our existing Trading at Settlement (TAS) trading wherein parties will be permitted to trade at a differential that represents a not-yet-known price. TAM trading will use a marker price, whereas TAS trading uses the Exchange-determined settlement price for the applicable contract month. As with TAS trading, parties will be able to enter TAM orders at the TAM price or at a differential between one and ten ticks higher or lower than the TAM price. Trading at marker is available for spot month on the last trading day.

NY Harbor ULSD Futures (HO) spot, 2nd and 3rd months and nearby/second month, second/third month and nearby/third month calendar spreads.

SETTLEMENT METHOD Deliverable
SETTLEMENT PROCEDURES Heating Oil Futures Settlement Procedures
LISTED CONTRACT Current Year + 3 Years + 1 Month
DELIVERY PERIOD Please see rulebook chapter 150
POSITION LIMITS NYMEX Position Limits
EXCHANGE RULEBOOK NYMEX 150
VENDOR CODES Quote Vendor Symbols Listing
BLOCK MINIMUM Block Minimum Thresholds

This page was last updated: November 05, 2015

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