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Description

A balance of the month cash settled future based on the difference between the Platts daily assessment price for ULSD 10ppm CIF NWE Cargoes and the ICE settlement price for Brent 1st Line Balmo Future.

Market Specifications

Trading Screen Product Name

Diesel Crack Futures (balmo)

Trading Screen Hub Name

ULSD 10ppm CIF NWE Cg (Platts)/Brent 1st Line

Contract Symbol

14Z

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

Settlement Price Quotation

One tenth of one cent ($0.001) per barrel

Minimum Price Fluctuation

One hundredth of one cent ($0.0001) per barrel

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 barrel based on the difference between the average of the “Mid” quotations appearing in the “Platts European Marketscan” under the heading “European Products ($/mt)” and “Northwest Europe cargoes” subheading “CIF NWE/Basis ARA” for “ULSD 10 ppm” 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.

conversion factor: 1 metric tonne = 7.45 barrels

Non-Common Pricing applies.

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 2 consecutive months

Final Payment Date

Two Clearing House Business Days following the Last Trading Day

Business Days

Publication days for Platts European Marketscan and ICE

MIC Code

IFEU

Clearing Venues

ICEU

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Trading Hours

Codes