Naphtha CIF NWE Cargoes vs Brent 1st Line Balmo Swap28687701
ICE OTC
Naphtha CIF NWE Cargoes vs Brent 1st Line Balmo Swap
Description
A balance of the month cash settled swap based on the difference between the Platts daily assessment price for Naphtha CIF NWE Cargoes and the ICE daily settlement price for Brent 1st Line Future
Market Specifications
- Trading Screen Product Name
- Platts Naphtha Crack (balmo)
- Trading Screen Hub Name
- Naphtha CIF NWE Cg/Brent 1st Line
- Rule Number
- 13109
- Contract Symbol
- NCB
- Contract Size
- 1,000 metric tonnes (8,900 bbls)
- Unit of Trading
- Any multiple of 1,000 metric tonnes
- Currency
- US Dollars and cents
- Trading Price Quotation
- One cent ($0.01) per barrel
- 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 barrel 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 European cargoes" subheading "CIF NWE/Basis ARA" for "Naphtha" and the average of the settlement prices as made public by ICE for the front month Brent Crude Future for each business day (as specified below) in the determination period.
Non-Common Pricing applies. - Roll Adjust Provision
- In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent Futures specified in the Floating Price terms above will be used except for the expiration date of the commodity's underlying delivery month's futures contract. On such date, the applicable pricing quotation will be rolled to the following month's futures contract.
- Contract Series
- Up to 2 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 and ICE
- 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 - 6:05 PM* 19:50 - 18:05 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:05 PM 00:50 - 23:05 | 12:40 AM 00:40 |
| SINGAPORE | 8:50 AM - 7:05 AM* 08:50 - 07:05 | 8:40 AM 08:40 |
Sunday Pre-Open 5:40 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- Cracks mt
- Physical
- NCB
- Logical
- NCB
- GMI (FC)
- 99
- ION A.C.N.
- Symbol Code
- NCB