ICE Futures Europe

Daily TC5 FFA Arabian Gulf to Japan (Platts) Mini Future

Daily TC5 FFA Arabian Gulf to Japan (Platts) Mini Future67119995

Description

A daily cash settled mini freight future based on the Platts daily assessment price for TC5 – Arabian Gulf to Japan.

Market Specifications

Trading Screen Product Name
Freight Daily Futures (USD)
Trading Screen Hub Name
TC5 Mini
Commodity Code
DFT
Contract Size
100 metric tonnes
Unit of Trading
Any multiple of 100 metric tonnes
Currency
US Dollars and cents
Trading Price Quotation
One tenth of one cent ($0.001) per metric tonne
Settlement Price Quotation
One hundredth of one cent ($0.0001) per metric tonne
Minimum Price Fluctuation
One hundredth of one cent ($0.0001) per metric tonne
Last Trading Day
Second Business Day after the nominal contract date.
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 average of the assessments appearing in the “Platts Clean Tankerwire” under the heading “East of Suez LRs” for the Arab Gulf to Japan 55kt route for each business day (as specified below) in the determination period.

If there are no business days in the determination period, the Floating Price shall be the average of the assessments for the last business day prior to the determination period.
Contract Series
Up to 130 consecutive business days
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for Platts Clean Tankerwire
MIC Code
IFEU
Clearing Venues
ICEU

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

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Wet Freight
Physical
DFT
Logical
DFT
GMI(FC)
R&N A.C.N.