- Trading Screen Product Name
- Platts Fuel Oil Diff (balmo)
- Trading Screen Hub Name
- 1% NYH Cg/1% FOB NWE Cg
- Rule Number
13157
- Contract Symbol
FOI
- Contract Size
1,000 barrels
- Unit of Trading
Any multiple of 1,000 barrels
- Currency
US Dollars and cents
- Trading Price Quotation
One cent ($0.01) per barrel
- Last Trading Day
Last Trading Day of the contract month
- Final Settlement
In respect of final settlement, the Floating Price will be a price
in USD and cents per barrel based on the difference between the
average of the “Mid” quotations appearing in the
"Platts US Marketscan" under the heading "Atlantic Coast New York"
subheading "Residual fuel ($/bbl)" and "Cargo" for "No. 6 1%" and
the average of the “Mid” quotations appearing in the
"Platts European Marketscan" under the heading "Northwest Europe
cargoes" subheading "FOB NWE" for "Fuel oil 1.0%" for each business
day (as specified below) in the determination period. Conversion
Factor: 1 metric tonne = 6.35 barrels.
- Contract Series
Up to 2 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 and Platts European
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
- ICES
- Clearing Venues
- Bilateral