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Description

A balance of the month cash settled mini future based on the Platts daily assessment price for Naphtha C+F Japan

Market Specifications

Trading Screen Product Name

Naphtha Futures (balmo)

Trading Screen Hub Name

Naphtha C&F Japan Mini

Contract Symbol

NJB

Contract Size

100 metric tonnes

Unit of Trading

Any multiple of 100 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 average of the mean of the high and low quotations appearing in the "Asia-Pacific/Arab Gulf Marketscan" under the heading "Japan physical oil assessments" subheading "C+F Japan" for "Naphtha" for each business day (as specified below) in the determination period.

Contract Series

Up to 2 consecutive months

Final Payment Date

Two Clearing House Business Days following the Last Trading Day

Markers

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

Business Days

Publication days for Platts Asia-Pacific/Arab Gulf Marketscan

MIC Code

IFEU

Clearing Venues

ICEU

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Trading Hours

Codes