Fuel Oil Diff - Fuel Oil 3.5% 500 CST FOB Rotterdam Barges (Platts) vs 3.5% FOB Rotterdam Barges (Platts) Future32857606

Description

A monthly cash settled future based on the difference between the Platts daily assessment price for 3.5% 500 CST FOB Rotterdam Barges 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
3.5% 500cst FOB Rdam Bg (Platts)/3.5% FOB Rdam Bg (Platts)
Commodity Code
FFK
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 European Marketscan” under the heading “Northwest Europe barges” subheading “FOB Rotterdam” for “Fuel Oil 3.5% 500 CST” 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
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