Trading Unit
42,000 U.S. gallons (1,000 barrels). Price Quotation
U.S. dollars and cents per gallon. Trading Hours (All times are New York time)
Open outcry trading is conducted from 10:05 AM until 2:30
PM.
After-hours futures trading is conducted via
the NYMEX ACCESS® internet-based trading platform beginning
at 3:15 PM on Mondays through Thursdays and concluding at
9:30 AM the following day. On Sundays, the session begins
at 7:00 PM. Trading Months
12 consecutive months. Minimum Price Fluctuation
$0.0001 (0.01¢) per gallon ($4.20 per contract). Maximum Daily Price Fluctuation
$0.25 per gallon ($10,500 per contract) for all months. If
any contract is traded, bid, or offered at the limit for five
minutes, trading is halted for five minutes. When trading
resumes, the limit is expanded by $0.25 per gallon in either
direction. If another halt were triggered, the market would
continue to be expanded by $0.25 per gallon in either direction
after each successive five-minute trading halt. There will
be no maximum price fluctuation limits during any one trading
session. Last Trading Day
Trading terminates at the close of business on the last business
day of the month preceding the delivery month. Settlement Type
Physical. Delivery
F.O.B. seller's facility in New York harbor ex-shore. All
duties, entitlements, taxes, fees, and other charges paid.
Requirements for seller's shore facility: capability to deliver
into barges. Delivery may also be completed by pipeline, tanker,
book transfer, or inter- or intra-facility transfer. Delivery
must be made in accordance with applicable federal, state,
and local licensing and tax laws. Delivery shall comply with
all state laws related to oxygen content. Delivery Period
Deliveries may only be initiated the day after the fifth business
day and must be completed before the last business day of
the delivery month Alternate Delivery Procedure (ADP)
An alternate delivery procedure is available to buyers and
sellers who have been matched by the Exchange subsequent to
the termination of trading in the spot month contract. If
buyer and seller agree to consummate delivery under terms
different from those prescribed in the contract specifications,
they may proceed on that basis after submitting a notice of
their intention to the Exchange. Exchange of Futures for Physicals (EFP)
The commercial buyer or seller may exchange a futures position
for a physical position of equal quantity by submitting a
notice to the Exchange. EFPs may be used to either initiate
or liquidate a futures position. Grade and Quality Specifications
Generally conforms to industry standards for Phase II Complex
Model Reformulated Gasoline in accordance with Colonial Pipeline
Co. specifications for fungible A grade, 87 octane index gasoline. Month
Reid Vapor Pressure (RVP)
pounds per square inch
Volatile Organic Compounds (VOC) Percentage Reduction
January 15.0 max
N/A
February 15.0 max
N/A
March 13.5 max
N/A
April 23.4 min
N/A
May 23.4min
N
/A
June 23.4 min
N/A
July 23.4 min
N/A
August 23.4 min
N/A
September 1-15 23.4min
N/A
September 16-30 13.5 max
N/A
October 13.5 max
N/A
November 15.0 max
N/A
December 15.0 max
N/A
Margin Requirements
Margins are required for open futures positions. Trading Symbol
HU