CME Group Soybean Oil

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Soybean Oil Futures
Contract unit 60,000 pounds
Price Quotation U.S. cents per pound
Trading Hours CME Globex: Sunday – Friday: 7:00 p.m. – 7:45 a.m. CT and

Monday – Friday: 8:30 a.m. – 1:20 p.m. CT

TAS: Sunday - Friday 7:00 p.m. - 7:45 a.m. and ? Monday - Friday 8:30 a.m. - 1:15 p.m. CT

CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Minimum Price Fluctuation 1/100 of one cent (0.0001) per pound = $6.00

TAS: Zero or +/- 4 ticks in the minimum tick increment of the outright

Product Code CME Globex: ZL

CME ClearPort: 07

Clearing: 07

TAS: ZLT

Listed Contracts 15 monthly contracts of Jan, Mar, May, Aug, Sep and 12 monthly contracts of Jul, Oct, Dec listed annually after the termination of trading in the December contract of the current year
Settlement Method Deliverable
Termination of Trading Trading terminates on the business day prior to the 15th day of the contract month.
Trade Marker or Trade at Settlement 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.

TAS Table

Settlement Procedures Soybean Oil Settlement Procedures
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 12
Block Minimum Block Minimum Thresholds
Price Limit or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Last Delivery Date Seventh business day following the last trading day of the delivery month.
Grade and Quality Crude soybean oil meeting exchange-approved grades and standards-see exchange Rules and Regulations for exact specifications.
Soybean Oil Options
Contract Unit 1 futures contract for 60,000 pounds
Minimum Price Fluctuation 5/1000 of a cent (0.00005) per pound = $3.00
Price Quotation U.S. cents per pound
Trading Hours CME Globex: Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and

Monday – Friday, 8:30 a.m. – 1:20 p.m. CT

Open Outcry: Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with Post session until 1:20 p.m. CT immediately following the close
CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Product Code CME Globex: OZL

CME ClearPort: 07

Open Outcry: Put: OZ Call: OY

Clearing: 07

Listed Contracts Monthly contracts listed for 2 consecutive months, 10 monthly contracts of Jan, Mar, May, Jul, Aug, Sep, Oct, Dec, an additional Sep contract month listed in May and an additional Dec contract month listed in November.
Termination of Trading Trading terminates on the Friday which precedes, by at least two business days, the last business day of the month prior to the contract month.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 12A
Block Minimum Block Minimum Thresholds
Price Limit or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures 1/2 cent per pound. More details on strike price intervals are outlined in Rule 12A01.E.
Exercise Style The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 5:30 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised.
Settlement Method Deliverable
Underlying Soybean Oil Futures

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