ICE Futures U.S.

Fuel Oil Diff - New York 1% Fuel Oil vs 1% FOB NWE Cargoes Fuel Oil Balmo Future

Fuel Oil Diff - New York 1% Fuel Oil vs 1% FOB NWE Cargoes Fuel Oil Balmo Future6753385

Description

A balance of the month cash settled future based on the difference between the Platts daily assessment price for New York 1% 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% NYH Cg/1% FOB NWE Cg
Commodity Code
GGF-GGZ; GHA-GHJ
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
Settlement Price Quotation
One tenth of one cent ($0.001) per barrel
Minimum Price Fluctuation
One tenth of one cent ($0.001) per barrel
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the mean of the high and low quotations appearing in the "Platts US Marketscan" under the heading "Atlantic Coast New York" subheading "Residual fuel ($/bbl)" and "Cargo" for "No. 6 1%" 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.
Contract Series
Up to 2 consecutive months
Final Payment Date
One Business Day following the Last Trading Day
Business Days
US and UK Business Days
MIC Code
IFED
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
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

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

Codes

Clearing Admin Name
Am Ref Diff bbl
Physical
GGF-GGZ; GHA-GHJ
Logical
FOI
GMI(FC)
R&N A.C.N.