- Trading Screen Product Name
- Biodiesel Diff Futures
- Trading Screen Hub Name
- Argus RED RME FOB Rdam/LS GO 1st Line
- Contract Symbol
BRI
- Contract Size
100 metric tonnes
- Unit of Trading
Any multiple of 100 metric tonnes
- Currency
US Dollars and cents
- Trading Price Quotation
One cent ($0.01) per metric tonne
- Settlement Price Quotation
One tenth of one cent ($0.001) per metric tonne
- Minimum Price Fluctuation
One tenth of one cent ($0.001) per metric tonne
- Last Trading Day
Last Trading Day of the contract month
- Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
- Final Settlement
In respect of final settlement, the Floating Price will be a price
in USD and cents per metric tonne based on the difference between
the average of the mean of the high and low quotations appearing in
the “Argus Biofuels” report under the heading
“Renewable energy directive (RED) spot prices” for
“Rapeseed OME fob Rotterdam” and the average of the
settlement prices as made public by ICE for Gasoil 1st Line Swap
Future for each business day (as specified below) in the
determination period
- Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby
month quotation for ICE Gasoil Futures specified in the Floating
Price terms above will be used except for the expiration date of
the commodity's underlying delivery month's futures contract. On
such date, the applicable pricing quotation will be rolled to the
following month's futures contract
- Contract Series
Up to 48 consecutive months
- Final Payment Date
Two Clearing House Business Days following the Last Trading Day
- Business Days
Publication days for Argus Biofuels
- MIC Code
- IFEU
- Clearing Venues
- ICEU