Fuel Oil Outright - Marine Fuel 0.5% FOB Singapore (Platts) Balmo Future

ICE Futures Europe

A balance of the month cash settled future based on the Platts daily assessment price for 0.5% FOB Singapore Marine Fuel.

Trading Screen Product Name: Fuel Oil Futures (balmo)
Trading Screen Hub Name: Marine 0.5% FOB Sing (Platts)
Contract Symbol: MFV
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: 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 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.
Contract Series: Up to 2 consecutive months
Final Payment Date: Two Clearing House Business Days following the Last Day in the determination period.
Markers: TAP MOC (Trade at Platts Settlement-Market on Close)
Business Days: Publication days for Platts Asia-Pacific/Arab Gulf Marketscan
MIC Code: IFEU
Clearing Venues: ICEU

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