- Trading Screen Product Name
- Fuel Oil Diff Futures
- Trading Screen Hub Name
- 3.5% FOB Med Cg/3.5% FOB Rdam Bg
- Contract Symbol
NVS
- 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
- Settlement Price Quotation
One tenth of one cent ($0.001) per metric tonne
- Minimum Price Fluctuation
One tenth of one cent ($0.001) per metric tonne
- 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 metric tonne based on the difference between the average of the mean of the high and low quotations appearing in the "Platts European Marketscan" under the heading "Mediterranean cargoes" subheading "FOB MED (Italy)" for "Fuel Oil 3.5%" and the average of the mean of the high and low 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 in the determination period.
- Contract Series
Up to 60 consecutive months
- Final Payment Date
One Business Day following the Last Trading Day
- Business Days
UK Business Days
- MIC Code
- IFEU
- Clearing Venues
- ICEU