USGC HSFO Fuel Oil vs Fuel Oil 3.5% FOB Rotterdam Barges Swap33592782
ICE OTC
USGC HSFO Fuel Oil vs Fuel Oil 3.5% FOB Rotterdam Barges Swap
Description
A monthly cash settled swap based on the difference between the Platts daily assessment price for US Gulf Coast High Sulphur Fuel Oil and the Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil (in mts).
Market Specifications
- Trading Screen Product Name
- Platts FO Diff
- Trading Screen Hub Name
- USGC HSFO (Platts)/3.5% FOB Rdam Bg (Platts)
- Rule Number
- 13162
- Contract Symbol
- NVV
- Contract Size
- 1,000 Metric Tonnes
- Unit of Trading
- Any multiple of 1,000 Metric Tonnes
- Currency
- US Dollars and cents
- Trading Price Quotation
- One cent ($0.01) per metric tonne
- Last Trading Day
- Last Trading Day of the contract month
- Final Settlement
- In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the difference between the average of the “Mid” quotations appearing in the “Platts US Marketscan” under the heading “Gulf Coast” subheading “Houston” and “$/barrel” for “USGC HSFO” and the average of the “Mid” quotations appearing in the “Platts European Marketscan” under the heading “Northwest Europe barges” subheading “FOB Rotterdam” for “Fuel Oil 3.5%” for each business day (as specified below) in the determination period. Conversion factor: 1 metric tonne = 6.35 barrels. Non-Common Pricing Applies.
- 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 and 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
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 7:50 AM - 6:00 AM* 07:50 - 06:00 | 7:40 AM 07:40 |
*Next Day
Codes
- Clearing Admin Name
- Am Ref Diff bbl
- Physical
- GOE
- Logical
- GOE
- GMI (FC)
- BH
- ION A.C.N.
- SN23
- Symbol Code
- GOE