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Description

A monthly cash settled swap based on the difference of the Platts daily assessment price for Jet FOB Rotterdam Barges and the Platts daily assessment price for Jet CIF NWE Cargoes Swap

Market Specifications

Trading Screen Product Name

Jet Fuel Diff Futures

Trading Screen Hub Name

Jet FOB Rdam Bg/CIF NWE Cargo

Rule Number

13102

Contract Symbol

JRJ

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 barges" subheading "FOB Rotterdam" for "Jet" and the average of the mean of the high and low quotations appearing in the "Platts European Marketscan"under the heading "Northwest Europe cargoes" subheading "CIF NWE/Basis ARA" for "Jet" for each business day (as specified below) in the determination period.

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

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Trading Hours

Codes