New York 1% Fuel Oil vs Brent 1st Line Swap

New York 1% Fuel Oil vs Brent 1st Line Swap33592774


A monthly cash settled swap based on the difference the Platts daily assessment price for New York 1% Fuel Oil and the ICE daily settlement price for Brent 1st Line Future.

Market Specifications

Trading Screen Product Name
Platts Fuel Oil Crack
Trading Screen Hub Name
1% NYH Cg/Brent 1st Line
Rule Number
Commodity Code
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 1,000 barrels
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Last Trading Day
Last Trading Day of the contract month
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the mean of the high and low quotations appearing in the "Platts US Marketscan" under the heading "Atlantic Coast New York" subheading "Residual fuel ($/bbl)" and "Cargo" for "No. 6 1%" and the average of the settlement prices as made public by ICE for the front month Brent 1st Line Future for each business day (as specified below) in the determination period.
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, 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 US 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
Clearing Venues

Trading Hours

New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM

*Next Day


Clearing Admin Name
Cracks bbl
R&N A.C.N.