ICE Futures Europe

Fuel Oil Diff - Fuel Oil 1% FOB Rotterdam Barges vs 1% FOB NWE Cargoes Balmo Future

Fuel Oil Diff - Fuel Oil 1% FOB Rotterdam Barges vs 1% FOB NWE Cargoes Balmo Future6753367

Description

A balance of the month cash settled future based on the difference between the Platts daily assessment price for 1% FOB Rotterdam Barges Fuel Oil and the Platts daily assessment price for 1% FOB NWE Cargoes Fuel Oil.

Market Specifications

Trading Screen Product Name
Fuel Oil Diff Futures (balmo)
Trading Screen Hub Name
1% FOB Rdam Bg/1% FOB NWE Cg
Commodity Code
DLA-DLZ; DMA-DME
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 mean of the high and low quotations appearing in the "Platts European Marketscan" under the heading "Northwest Europe Barges" subheading "FOB Rotterdam" for "Fuel Oil 1.0%" and the average of the mean of the high and low quotations appearing in the "Platts European Marketscan" under the heading "Northwest Europe cargoes" subheading "FOB NWE" for "Fuel oil 1.0%" for each Business Day in the determination period. Non-Common Pricing Applies
Contract Series
Up to 2 consecutive months
Final Payment Date
One Business Day following the Last Trading Day
Business Days
UK Business Days
MIC Code
IFEU
Clearing Venues
ICEU

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

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

Codes

Clearing Admin Name
Ref Diffs mt
Physical
DLA-DLZ; DMA-DME
Logical
FBD
GMI(FC)
R&N A.C.N.