USGC HSFO Fuel Oil vs Fuel Oil 3.5% FOB Rotterdam Barges Swap33592782

Description

A monthly cash settled swap based on the difference between the Platts daily assessment price for US Gulf Coast High Sulphur Fuel Oil and the Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil (in mts).

Market Specifications

Trading Screen Product Name
Platts FO Diff
Trading Screen Hub Name
USGC HSFO (Platts)/3.5% FOB Rdam Bg (Platts)
Rule Number
13162
Commodity Code
NVV
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 ($0.01) per metric tonne
Last Trading Day
Last Trading Day of the contract month
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the difference between the average of the “Mid” quotations appearing in the “Platts US Marketscan” under the heading “Gulf Coast” subheading “Houston” and “$/barrel” for “USGC HSFO” 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. Conversion factor: 1 metric tonne = 6.35 barrels. Non-Common Pricing Applies.
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 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
ICEU
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:05 PM*
19:50 - 18:05
7:40 PM
19:40
London12:50 AM - 11:05 PM*
00:50 - 23:05
12:40 AM
00:40
Singapore8:50 AM - 7:05 AM*
08:50 - 07:05
8:40 AM
08:40

*Next Day

Codes

Clearing Admin Name
Ref Diffs bbl
Physical
GOE
Logical
GOE
GMI(FC)
BH
R&N A.C.N.
SN23