Middle East Fuel Oil 380 CST FOB Arab Gulf Swap80046936
ICE OTC

Middle East Fuel Oil 380 CST FOB Arab Gulf Swap

Description

A monthly cash settled swap based on the Platts daily assessment price for Middle East 380 CST FOB Arab Gulf Fuel Oil.

Market Specifications

Trading Screen Product Name
Platts FO
Trading Screen Hub Name
380cst Middle East FOB Arab Gulf (Platts)
Rule Number
Rule 13113
Contract Symbol
ME2
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 ($0.01) per metric tonne
Last Trading Day
Last Trading Day of the contract month
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the average of the “Mid” quotations appearing in the "Platts Asia-Pacific/Arab Gulf Marketscan" under the heading "Asia Products" subheading "Middle East physical oil assessments" and "FOB Arab Gulf ($/barrel)" for "HSFO 380 CST ($/mt)" for each business day (as specified below) in the determination period.
Contract Series
Up to 72 consecutive months, or as otherwise determined by the SEF
Final Payment Date
Fourteen (14) Calendar Days after each settlement date via wire transfer or federal funds
Business Days
Publication days for Platts Asia-Pacific/Arab Gulf Marketscan
Other Terms
To be confirmed directly between the parties in their full form of contract. The terms reflected in such contracts shall be controlling.
MIC Code
ICES
Clearing Venues
Bilateral

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

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

Codes

Clearing Admin Name
Ref Outright mt
Physical
ME2
Logical
ME2
GMI (FC)
DU
Symbol Code
ME2