Trading Unit: 42,000 US gallons (1,000 barrels).

Trading Hours: 9:50a.m. - 3:10 p.m. (New York Time).

Trading Months: 18 consecutive months commencing with the next calendar month (e.g., on October 1, 1993, the first trading month is November 1993).

Price Quotation: In dollars and cents per gallon (e.g., $0.5022 per gallon).

Min Price Fluct: $0.0001 per gallon ($4.20 per contract).

Max. Price Fluct: $0.40 per gallon ($16,800 per contract) for the first two contract months. Initial back month limits of $0.04 per gallon rise to $0.06 per gallon if the previous day's settlement price is at the $0.04 limit. In the event of $0.20 move in either of the first two contract months, back month limits are expanded to $0.20 per gallon from the limit in place in the direction of the move.

Last Trading Day: Trading terminates at the close of business on the last business day of the month preceding the delivery month.

Delivery: F.O.B. seller's facility in New York Harbor ex- shore. All duties, entitlements, taxes, fees, and other charges paid. Seller's shore facility must be capable of delivering 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 Period: All deliveries may only be initiated after fifth business day and must be completed before the last business day of the delivery month.

Grade and Quality: Generally conforms to industry standards for fungible No. 2 heating oil.

Margin Requirements: Margins are required for open futures or short options positions.