Marine Fuel 0.5% FOB Singapore Swap

ICE OTC

A monthly cash settled swap based on the Platts daily assessment price for 0.5% FOB Singapore Marine Fuel.

Trading Screen Product Name: Platts Marine Fuel
Trading Screen Hub Name: Marine 0.5% FOB Sing (Platts)
Contract Symbol: MF4
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 ($0.01) per metric tonne
Last Trading Day: Last Trading Day of the contract month
Final Settlement: In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the average of the “$/mt” quotations appearing in the “Platts Asia-Pacific/Arab Gulf Marketscan” under the heading “Marine Fuel” for “0.5% FOB Singapore cargo” for each business day (as specified below) in the determination period.
Roll Adjust Provision: N/A
Contract Series: Up to 60 consecutive months, or as otherwise determined by the SEF
Final Payment Date: Fourteen (14) Calendar Days after each settlement date via wire transfer or Federal funds.
Business Days: Publication days for Platts Asia-Pacific/Arab Gulf 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

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