- Trading Screen Product Name
- Fuel Oil Diff Futures
- Trading Screen Hub Name
- 3.5% FOB Med Cg/3.5% FOB Rdam Bg
- Rule Number
1376
- Contract Symbol
NVS
- Contract Size
1,000 metric tonnes
- Unit of Trading
Any multiple of 1,000 metric tonnes
- Currency
US Dollars and cents
- Trading Price Quotation
One cent ($0.01) per metric tonne
- 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 mean of the high and low quotations appearing in the "Platts European Marketscan" under the heading "Mediterranean cargoes" subheading "FOB MED (Italy)" for "Fuel Oil 3.5%" and the average of the mean of the high and low 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
Five (5) New York Business Days after each settlement date via wire transfer of Federal funds
- Business Days
Publication days for 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