ICE Futures Europe

Naphtha Outright - Naphtha CIF NWE Cargoes (Platts) Future (in bbls)

Naphtha Outright - Naphtha CIF NWE Cargoes (Platts) Future (in bbls)31687098

Description

A monthly cash settled future based on the Platts daily assessment price for Naphtha CIF NWE Cargoes (in bbls).

Market Specifications

Trading Screen Product Name
Naphtha Futures (bbl)
Trading Screen Hub Name
Naphtha CIF NWE Cg (Platts)
Commodity Code
NBA
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 1,000 barrels
Currency
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Settlement Price Quotation
One tenth of one cent ($0.001) per barrel
Minimum Price Fluctuation
One tenth of one cent ($0.001) per barrel
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 barrel based on the average of the “Mid” quotations appearing in the “Platts European Marketscan” under the heading “Northwest European cargoes” subheading “CIF NWE/Basis ARA” for “Naphtha” for each business day (as specified below) in the determination period.

conversion factor: 1 metric tonne = 8.90 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 European Marketscan
MIC Code
IFEU
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

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

Codes

Clearing Admin Name
RefOutright bbl
Physical
NBA
Logical
NBA
GMI(FC)
R&N A.C.N.