- Trading Screen Product Name
- Naphtha Crack Futures (bbl)
- Trading Screen Hub Name
- Naphtha CIF NWE Cg (Platts)/Brent 1st Line
- Contract Symbol
NBB
- 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 difference between the
average of the mean of the high and low quotations appearing in the
"Platts European Marketscan" under the heading "Northwest European
cargoes" subheading "CIF NWE/Basis ARA" for "Naphtha" and the
average of the settlement prices as made public by ICE for the
front month Brent 1st Line Swap Future for each Business Day in the
determination period.
Conversion factor: 1 metric tonne = 8.90 barrels.
- Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent 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 Platts European Marketscan
- MIC Code
- IFEU
- Clearing Venues
- ICEU