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Description

A monthly cash settled future based on the Platts daily assessment price for Naphtha C+F Japan.

Market Specifications

Trading Screen Product Name

Naphtha Futures

Trading Screen Hub Name

Naphtha C&F Japan Cg

Contract Symbol

NJC

Contract Size

1,000 Metric Tonnes

Unit of Trading

Any multiple of 1,000 Metric Tonnes

Currency

US Dollars and cents

Settlement Price

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 arithmetic mean of the relevant high and low quotations appearing in the "Platts Asia-Pacific/Arab Gulf Marketscan" under the heading "Asia Products" subheading "Japan physical oil assessments" and "C+F Japan" for the "Naphtha ($/mt)" quotation for each Business Day in the determination period.

Contract Series

Up to 48 consecutive months

Business Days

Publication days for Platts Asia-Pacific/Arab Gulf Marketscan

Payment Dates

Two Clearing House Business Days following the Last Trading Day

Markers

TAP MOC (Trade at Platts Settlement-Market on Close)

MIC Code

IFEU

Clearing Venues

ICEU

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Trading Hours

Codes