Fuel Oil 1% FOB NWE Cargoes vs 3.5% FOB Rotterdam Barges Swap28687666
ICE OTC
Fuel Oil 1% FOB NWE Cargoes vs 3.5% FOB Rotterdam Barges Swap
Description
A monthly cash settled swap based on the difference between the Platts daily assessment price for 1% FOB NWE Cargoes Fuel Oil and the Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil
Market Specifications
- Trading Screen Product Name
- Fuel Oil Diff Futures
- Trading Screen Hub Name
- 1% FOB NWE Cg/3.5% FOB Rdam Bg
- Rule Number
- 1374
- Contract Symbol
- FOS
- 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 difference between 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%" and the average of the mean of the high and low quotations appearing in the "Platts European Marketscan" under the heading "Northwest Europe barges" subheading "FOB Rotterdam" for "Fuel Oil 3.5%" for each business day (as specified below) in the determination period. Non-Common Pricing Applies
- Contract Series
- Up to 60 consecutive months, or as otherwise determined by the SEF
- Final Payment Date
- Five (5) New York Business Days after each settlement date via wire transfer of Federal funds
- Business Days
- Publication days for Platts European 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
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 8:50 AM - 7:00 AM* 08:50 - 07:00 | 8:40 AM 08:40 |
Sunday Pre-Open 5:40 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- Ref Diffs mt
- Physical
- Logical
- GMI (FC)
- OX
- ION A.C.N.
- NM81
- Symbol Code
- FOS