Fuel Oil Crack - Fuel Oil 380 CST Singapore vs Brent 1st Line Future6753328
ICE Futures Europe
Fuel Oil Crack - Fuel Oil 380 CST Singapore vs Brent 1st Line Future
Description
A monthly cash settled future based on the difference between the Platts daily assessment price for 380 CST Singapore Fuel Oil and the ICE daily settlement price for Brent 1st Line Future.
Market Specifications
- Trading Screen Product Name
- Fuel Oil Crack Futures
- Trading Screen Hub Name
- 380cst Sing/Brent 1st Line
- Contract Symbol
- SPS
- Contract Size
- 1,000 metric tonnes (6,350 BBLS)
- Unit of Trading
- Any multiple of 1,000 metric tonnes
- Currency
- US Dollars and cents
- Trading Price Quotation
- One cent ($0.01) per barrel
- Settlement Price Quotation
- One hundredth of one cent ($0.0001) per barrel
- Minimum Price Fluctuation
- One hundredth of one cent ($0.0001) per barrel
- Last Trading Day
- Last Trading Day of the contract month
- Floating Price
- In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
- Final Settlement
- In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the mean of the high and low quotations appearing in the "Platts Asia-Pacific/Arab Gulf Marketscan" under the heading "Asia Products" subheading "Singapore" and "FOB Singapore" for "HSFO 380 CST ($/mt)" and the average of the settlement prices as made public by ICE for the front month Brent 1st Line Swap Future for each Business Day in the determination period. Conversion factor: 1 metric tonne = 6.35 barrels.
- 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 60 consecutive months
- Final Payment Date
- Two Clearing House Business Days following the Last Trading Day.
- Business Days
- Singapore Business Days
- MIC Code
- IFEU
- Clearing Venues
- ICEU
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 6:50 PM - 6:00 PM* 18:50 - 18:00 | 6:40 PM 18:40 |
| LONDON | 11:50 PM - 11:00 PM* 23:50 - 23:00 | 11:40 PM 23:40 |
| SINGAPORE | 7:50 AM - 7:00 AM* 07:50 - 07:00 | 7:40 AM 07:40 |
*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- Cracks mt
- Physical
- SPS
- Logical
- SPS
- GMI (FC)
- MN
- ION A.C.N.
- Symbol Code
- SPS