ICE Futures U.S.

Fuel Oil Diff - USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in mts)

Fuel Oil Diff - USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in mts)31687083

Description

A monthly cash settled future based on the difference between the Platts daily assessment price for US Gulf Coast High Sulphur Fuel Oil and the Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil (in mts).

Market Specifications

Trading Screen Product Name
Fuel Oil Diff Futures (mt)
Trading Screen Hub Name
USGC HSFO (Platts)/3.5% FOB Rdam Bg (Platts)
Commodity Code
NVV
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
Settlement Price Quotation
One tenth of one cent ($0.001) per metric tonne
Minimum Price Fluctuation
One tenth of one cent ($0.001) per metric tonne
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the difference between the average of the “Mid” quotations appearing in the “Platts US Marketscan” under the heading “Gulf Coast” subheading “Houston” and “$/barrel” for “USGC HSFO” 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.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 6.35 barrels.
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 Platts US Marketscan and Platts European Marketscan
MIC Code
IFED
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
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

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Am Ref Diff mt
Physical
NVV
Logical
NVV
GMI(FC)
R&N A.C.N.