Fuel Oil Diff - Middle East Fuel Oil 180 CST FOB Arab Gulf (Platts) vs Fuel Oil 180 CST Singapore (Platts) Future59293844

Description

A monthly cash settled future based on the difference between the Platts daily assessment price for Middle East 180 CST FOB Arab Gulf Fuel Oil and the Platts daily assessment price for 180 CST Singapore Fuel Oil.

Market Specifications

Trading Screen Product Name
Fuel Oil Diff Futures
Trading Screen Hub Name
180cst Middle East FOB Arab Gulf (Platts)/180cst Sing (Platts)
Commodity Code
MEB
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 ($0.001) per metric tonne
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the difference between the average of the “Mid” quotations appearing in the "Platts Asia-Pacific/Arab Gulf Marketscan" under the heading " Asia Products" subheading "Middle East physical oil assessments" and "FOB Arab Gulf ($/barrel)" for "HSFO 180 CST ($/mt)" and the average of the “Mid” quotations appearing in the "Platts Asia-Pacific/Arab Gulf Marketscan" under the heading "Asia Products" subheading "Singapore" and "FOB Singapore ($/barrel)" for "HSFO 180 CST ($/mt)" for each business day (as specified below) in the determination period.
Contract Series
Up to 72 consecutive months
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for Platts Asia-Pacific/Arab Gulf Marketscan
MIC Code
IFEU
Clearing Venues
ICEU
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Trading Hours

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

Clearing Admin Name
Ref Diffs mt
Physical
MEB
Logical
MEB
GMI(FC)
R&N A.C.N.