Contract Summary OQD

SUMMARY RULEBOOK HOLIDAY CALENDAR

GME Oman Crude Oil Futures Contract Summary (OQD)

Trading Unit 1,000 U.S. barrels (42,000 gallons)
Price Quotation U.S. dollars and cents per barrel
Trading Symbol on Globex OQD (referred as OQ on CME Clearing)
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.
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.
Minimum Price Fluctuation $0.01 (1) per barrel ($10.00 per contract)
Maximum Daily Price Fluctuation None
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).
GME 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 GME Contracts.
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.
Last Trading Day Trading in the nearby Contract Month shall cease on the last Trading Day of the second month preceding the Delivery Month.
Settlement Type Physical
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.
Governing Law English Law

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