CFE Gas At The Pump Futures Contract Specifications

CONTRACT NAME:
CFE Gas At The Pump Futures

DESCRIPTION:
CFE Gas At The Pump Futures are cash-settled futures contracts designed to track the price of regular octane gasoline sold in retail gasoline outlets across the United States. CFE Gas At The Pump Futures are based on a survey conducted by the Energy Information Administration (EIA). CFE Gas At The Pump Futures are based on the prices of regular octane gasoline sold in retail gasoline outlets across the United States and in different geographic regions within the United States, known as Petroleum Administration for Defense Districts (PADD), as determined by the EIA. The five geographic PADDs are as follows: East Coast PADD, Gulf Coast PADD, Midwest PADD, Rocky Mountain PADD, and West Coast PADD.

The final settlement value for CFE Gas At The Pump Futures is the weighted average price estimate of regular octane gasoline sold in retail gasoline outlets across the United States or in the applicable PADD, as reported by the EIA for the Monday following the third Friday of the applicable contract month.

CONTRACT SIZE:
The contract multiplier for CFE Gas At The Pump Futures is 10,000. For example, a contract size of one CFE Gas At The Pump Future would be $30,000 if the price of the CFE Gas At The Pump Future trading on CFE were 300 cents (300 cents x 10,000).

TRADING HOURS:
8:30 a.m. - 3:15 p.m. Central Time (Chicago Time)

TRADING PLATFORM:
CBOEdirect

CONTRACT MONTHS:
Up to three near-term serial months and five months on the March quarterly cycle (March, June, September, December) may be listed for each CFE Gas At The Pump futures contract.

TICKER SYMBOLS:
National Trading Symbol: GU
National Settlement Symbol: GUST

East Coast PADD Trading Symbol: GA
East Coast PADD Settlement Symbol: GAST

West Coast PADD Trading Symbol: GZ
West Coast PADD Settlement Symbol: GZST

Midwest PADD Trading Symbol: GH
Midwest PADD Settlement Symbol: GHST

Gulf Coast PADD Trading Symbol: GJ
Gulf Coast PADD Settlement Symbol: GJST

Rocky Mountain PADD Trading Symbol: GN
Rocky Mountain PADD Settlement Symbol: GNST

PRICING QUOTATION:
CFE Gas At The Pump Futures are quoted in terms of cents per gallon. A retail gas price of $2.98 per gallon would equate to a price quotation of 298.00 cents per gallon.

PRICING CONVENTIONS:
The futures prices are stated in decimal format.

MINIMUM PRICE INTERVALS:
0.05 cents per gallon.

DOLLAR VALUE PER TICK:
$5.00 per contract.

FINAL SETTLEMENT DATE:
The Monday following the third Friday of the expiring month ("Final Settlement Date"). When the Final Settlement Date is a federal government holiday or a date on which the EIA does not otherwise release the weighted average price estimate for the Monday following the third Friday of the applicable contract month, the Final Settlement Date shall occur on the date that the EIA releases the weighted average price estimate for the Monday following the third Friday of the applicable contract month.

TERMINATION OF TRADING:
The close of trading on the business day before the Final Settlement Date. When the last trading day is a CFE holiday, the last trading day for expiring CFE Gas At The Pump Futures will be the business day immediately preceding the last regularly-scheduled trading day. CFE may alter the last trading day if the EIA releases the weighted average price estimate on a date other than the Monday following the third Friday of the applicable contract month.

FINAL SETTLEMENT VALUE:
The final settlement value for the CFE U.S. Gas At The Pump futures contract is the weighted average price estimate in cents per gallon of reformulated, regular octane gasoline sold in retail gasoline outlets across the United States, as reported by the EIA for the Monday following the third Friday of the applicable contract month.

The final settlement value for the CFE East Coast Gas At The Pump futures contract, CFE Midwest Gas At The Pump futures contract, and CFE West Coast Gas At The Pump futures contract is the weighted average price estimate in cents per gallon of reformulated, regular octane gasoline sold in retail gasoline outlets in the applicable PADD, as reported by the EIA.

The final settlement value for the CFE Gulf Coast Gas At The Pump futures contract and CFE Rocky Mountain Gas At The Pump futures contract is the weighted average price estimate of conventional, regular octane gasoline sold in retail gasoline outlets in the applicable PADD, as reported by the EIA.If the final settlement value for a CFE Gas At The Pump Future is not available, the settlement value will be determined in accordance with the rules and bylaws of The Options Clearing Corporation.

DELIVERY:
Settlement of CFE Gas At The Pump Futures will result in the delivery of a cash settlement amount on the business day immediately following the Final Settlement Date. The cash settlement amount on the Final Settlement Date shall be the final mark to market amount against the final settlement price of the applicable CFE Gas At The Pump futures contract multiplied by 10,000.

POSITION ACCOUNTABILITY
A person may not own or control at any time more than 29,400 contracts net long or net short in all contract months of a CFE Gas At The Pump Future combined. Commencing on the Wednesday prior to the third Friday of the expiring contract month of a CFE Gas At The Pump Future, a person may not own or control more than 4,200 contracts net long or net short in the expiring contract month of that CFE Gas At The Pump Future.

The foregoing position limits shall not apply to positions that are subject to a position limit exemption meeting the requirements of Commission Regulations and CFE Rules.

MINIMUM REPORTABLE LEVEL:
25 or more contracts.