- 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