New York 3% Fuel Oil vs USGC HSFO Fuel Oil Swap40618622
ICE OTC
New York 3% Fuel Oil vs USGC HSFO Fuel Oil Swap
Description
A monthly cash settled swap based on the difference between the Platts daily assessment price for New York 3% Fuel Oil and Platts daily assessment price for US Gulf Coast High Sulphur Fuel Oil.
Market Specifications
- Rule Number
- 13165
- Contract Size
- 1,000 barrels
- Unit of Trading
- Any multiple of 1,000 barrels
- Currency
- US Dollars and cents
- Trading Price Quotation
- One cent ($0.01) per barrel
- Last Trading Day
- Last Trading Day of the contract month
- Final Settlement
- In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the "Mid" quotations appearing in the "Platts US Marketscan" under the heading "Atlantic Coast" subheading "New York Harbor" subheading "Delivered Cargo ($/bbl)" and for "No. 6 3%" and the average of the "Mid" quotations appearing in the "Platts US Marketscan" under the heading "Gulf Coast" subheading "Houston" and "$/bbl" for "USGC HSFO" for each business day (as specified below) in the determination period.
- Contract Series
- Up to 6 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
- IEPA
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:05 PM* 19:50 - 18:05 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:05 PM 00:50 - 23:05 | 12:40 AM 00:40 |
| SINGAPORE | 7:50 AM - 6:05 AM* 07:50 - 06:05 | 7:40 AM 07:40 |
*Next Day
Sunday Pre-Open 5:40 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- Physical
- Logical
- GMI (FC)
- ION A.C.N.
- Symbol Code