Fuel Oil Diff - Marine Fuel 0.5% FOB Rotterdam Barges (Platts) vs Fuel Oil 1% FOB NWE Cargoes (Platts) Future72270602
ICE Futures Europe
Fuel Oil Diff - Marine Fuel 0.5% FOB Rotterdam Barges (Platts) vs Fuel Oil 1% FOB NWE Cargoes (Platts) Future
Description
A monthly cash settled future based on the difference between the Platts daily assessment price for 0.5% FOB Rotterdam Barges Marine Fuel and the Platts daily assessment price for 1% FOB NWE Cargoes Fuel Oil.
Market Specifications
- Trading Screen Product Name
- Fuel Oil Diff Futures
- Trading Screen Hub Name
- Marine 0.5% FOB Rdam Bg (Platts)/1% FOB NWE Cg (Platts)
- Contract Symbol
- MFS
- 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 ($0.001) per metric tonne
- Last Trading Day
- Last Trading Day of the contract month
- Floating Price
- In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
- Final Settlement
- In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the average of the “$/mt” quotations appearing in the “Platts European Marketscan” under the heading “Marine Fuel" for "0.5% FOB Rotterdam barge" and the average of “Mid” quotations appearing in the "Platts European Marketscan" under the heading “European Products ($/mt)” subheading "Northwest Europe cargoes" and "FOB NWE" for "Fuel oil 1.0%" for each business day (as specified below) in the determination period.
- Contract Series
- Up to 72 consecutive months
- Final Payment Date
- Two Clearing House Business Days following the Last Day in the determination period.
- Business Days
- Publication days for Platts European Marketscan
- MIC Code
- IFEU
- Clearing Venues
- ICEU
Related Products
- Fuel Oil Outright - Marine Fuel 0.5% FOB Rotterdam Barges (Platts) Future
- Fuel Oil 1% FOB NWE Cargoes Future
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- Fuel Oil Diff - Marine Fuel 0.5% FOB Singapore (Platts) vs Marine Fuel 0.5% FOB Rotterdam Barges (Platts) Futures
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Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 8:50 AM - 7:00 AM* 08:50 - 07:00 | 8:40 AM 08:40 |
*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- Ref Diffs mt
- Physical
- MFS
- Logical
- MFS
- GMI (FC)
- NM
- ION A.C.N.
- Symbol Code
- MFS