- Trading Screen Product Name
- Fuel Oil Crack Futures
- Trading Screen Hub Name
- Marine 0.5% FOB USGC Bg (Platts)/Brent 1st Line
- Contract Symbol
FOQ
- 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 ($0.001) per barrel
- Last Trading Day
Last Trading Day of the contract month
- Floating Price
In respect of daily settlement, the Floating Price will be
determined by ICE using price data from a number of sources
including spot, forward and derivative markets for both physical
and financial products.
- Final Settlement
In respect of final settlement, the Floating Price will be a price
in USD and cents per barrel based on the difference between the
average of the “$/barrel” quotations appearing in the
“Platts US Marketscan” under the heading “Marine
Fuel” for “0.5% FOB US Gulf Coast barge" and the
average of the settlement prices as made public by ICE for the
front month Brent Future for each business day (as specified below)
in the determination period.
- Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby
month quotation for ICE Brent Futures specified in the Floating
Price terms above will be used except for the expiration date of
the commodity's underlying delivery month's futures contract. On
such date, the applicable pricing quotation will be rolled to the
following month's futures contract.
- Contract Series
Up to 60 consecutive months
- Final Payment Date
Two Clearing House Business Days following the Last Trading Day
- Business Days
Publication days for Platts US Marketscan and ICE
- MIC Code
- IFED
- Clearing Venues
- ICEU