New York 1% Fuel Oil Swap

ICE OTC

A monthly cash settled swap based on the Platts daily assessment price for New York 1% Fuel Oil.

Trading Screen Product Name: Platts FO
Trading Screen Hub Name: 1% NYH Cg
Rule Number: 13153
Contract Symbol: FOW
Contract Size: 1,000 barrels
Unit of Trading: Any multiple of 1,000 barrels
Currency: US Dollars and cents
Trading Price Quotation: One cent ($0.01) per barrel
Last Trading Day: Last Trading Day of the contract month
Final Settlement: In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the average of the mean of the high and low quotations appearing in the "Platts US Marketscan" under the heading "Atlantic Coast New York" subheading "Residual fuel ($/bbl)" and "Cargo" for "No. 6 1%" for each business day (as specified below) in the determination period.
Contract Series: Up to 48 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 US 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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