- Trading Screen Product Name
- Fuel Oil Diff Futures (balmo)
- Trading Screen Hub Name
- 3.5% FOB Med Cg/3.5% FOB Rdam Bg Mini
- Contract Symbol
NVU
- Contract Size
100 metric tonnes
- Unit of Trading
Any multiple of 100 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 European Marketscan” under the heading
“Mediterranean cargoes” subheading “FOB MED
(Italy)” for “Fuel oil 3.5%” 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.
- Contract Series
Up to 2 consecutive months
- Final Payment Date
Two Clearing House Business Days following the Last Trading Day
- Business Days
Publication days for Platts European Marketscan
- MIC Code
- IFEU
- Clearing Venues
- ICEU