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TC5 FFA Arabian Gulf to Japan (Platts) Balmo Future32375872
ICE Futures Europe

TC5 FFA Arabian Gulf to Japan (Platts) Balmo Future

Description

A monthly cash settled freight future based on the Platts daily assessment price for the 55kt Arabian Gulf to Japan route multiplied by the Worldscale flat rate for TC5.

Market Specifications

Trading Screen Product Name
Freight Futures (USD) (balmo)
Trading Screen Hub Name
TC5
Contract Symbol
WNX
Contract Size
1,000 metric tonnes
Unit of Trading
Any multiple of 1,000 metric tonnes
Currency
US Dollars and cents
Trading Price
One cent ($0.01) per metric tonne
Settlement Price
One hundredth of one cent ($0.0001) per metric tonne
Minimum Price Fluctuation
One hundredth of one cent ($0.0001) per metric tonne
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the average of the “Worldscale” assessments appearing in the “Platts Clean Tankerwire” under the heading "East of Suez LRs” for the Arab Gulf to Japan 55kt route multiplied by the applicable Worldscale flat rate for the TC5 route for each business day (as specified below) in the determination period.
Contract Series
Up to 2 consecutive months
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for Platts Clean Tankerwire
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM
00:50 - 23:00
12:40 AM
00:40
Singapore7:50 AM - 6:00 AM
07:50 - 06:00
7:40 AM
07:40

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Wet Freight
Physical
WNX
Logical
WNX
GMI (FC)
Q4
Symbol Code
WNX