- Trading Screen Product Name
- Platts Jet Fuel Diff (balmo)
- Trading Screen Hub Name
- Jet CIF NWE Cg/LS GO 1st Line
- Rule Number
13130
- Contract Symbol
UME
- Contract Size
1,000 metric tonnes
- Unit of Trading
Any multiple of 5,000 metric tonnes
- Currency
US Dollars and cents
- Trading Price Quotation
Twenty Five ($0.25) cents 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 "CIF NWE/Basis ARA" for "Jet" and the
average of the settlement prices as made public by ICE for the Low
Sulphur Gasoil 1st Line Swap for each business day (as specified
below) in the determination period
- Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby
month quotation for ICE Low Sulphur Gasoil 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
- 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