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ICE OTC

Fuel Oil Diff - Fuel Oil 180 CST Singapore vs. 3.5% FOB Rotterdam Barges Swap

Description

A monthly cash settled swap based on the difference between the Platts daily assessment price for 180 CST Singapore Fuel Oil and the Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil.

Market Specifications

Trading Screen Product Name
Fuel Oil Diff Futures
Trading Screen Hub Name
180cst Sing/3.5% FOB Rdam Bg
Contract Symbol
SFS
Rule Number
1386
Contract Size
1,000 Metric Tonnes
Unit of Trading
Any multiple of 1,000 Metric Tonnes
Trading Price Quotation
One cent ($0.01) per metric tonne
Currency
US Dollars and cents
Last Trading Day
Last Trading Day of the contract month
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the difference between the average of the "Mid" quotations appearing in the "Platts Asia-Pacific/Arab Gulf Marketscan" under the heading "Asia Products" subheading "Singapore" and "FOB Singapore" for "HSFO 180 CST ($/mt)" and the average of the "Mid" quotations appearing in the "Platts European Marketscan" under the heading "Northwest Europe barges" subheading "FOB Rotterdam" for "Fuel Oil 3.5%" for each business day (as specified below) in the determination period.
Contract Series
Up to 60 consecutive months, or as otherwise determined by the SEF
Final Payment Date
Fourteen (14) Calendar Days after each settlement date via wire transfer or Federal funds
Business Days
Publication days for Platts Asia-Pacific/Arab Gulf Marketscan and Platts European Marketscan
Other Terms
To be confirmed directly between the parties in their full form of contract. The terms reflected in such contracts shall be controlling.
MIC Code
ICES
Clearing Venues
Bilateral

Trading Hours

CityTradingPre-Open
New York8:50 PM - 7:00 PM
20:50 - 19:00
8:40 PM
20:40
London12:50 AM - 11:00 PM
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 AM - 7:00 AM
08:50 - 07:00
8:40 AM
08:40

Codes

Clearing Admin Name
Ref Diffs mt
Physical
SFS
Logical
SFS
GMI (FC)
OW
ION A.C.N.
NM80
Symbol Code
SFS