USGC HSFO Fuel Oil vs Fuel Oil 3.5% FOB Rotterdam Barges Balmo Swap33592783

Description

A balance of the month 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.

Market Specifications

Trading Screen Product Name
Platts Fuel Oil Diff (balmo)
Trading Screen Hub Name
USGC HSFO (Platts)/3.5% FOB Rdam Bg (Platts)
Rule Number
13163
Commodity Code
GJU-GJZ; GKA-GKY
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 1,000 barrels
Currency
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Last Trading Day
Last Trading Day of the contract month
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the "Mid" quotations appearing in the "Platts US Marketscan" under the heading "Gulf Coast" subheading "Houston" and "$/bbl" for "USGC HSFO" 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.
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
ICEU
Loading...

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
GJU-GJZ; GKA-GKY
Logical
GOD
GMI(FC)
R&N A.C.N.