- Trading Screen Product Name
- Platts Fuel Oil Crack
- Trading Screen Hub Name
- USGC HSFO (Platts)/Brent 1st Line
- Rule Number
13167
- Contract Symbol
GCS
- Contract Size
1,000 barrels
- Unit of Trading
Any multiple of 1,000 barrels
- Currency
US Dollars and cents
- Trading Price Quotation
One cent ($0.01) per barrel
- Last Trading Day
Last Trading Day of the contract month
- Final Settlement
In respect of final settlement, the Floating Price will be a price
in USD and cents per barrel based on the difference between the
average of the "Mid" quotations appearing in the "Platts US
Marketscan" under the heading "Gulf Coast" subheading "Houston" and
"$/bbl" for "USGC HSFO" 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.
- 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 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