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Description

A balance of month cash settled future based on the difference between the Platts daily assessment price for Gasoil 50 ppm FOB Rotterdam Barges and the ICE daily settlement price for Low Sulphur Gasoil 1st Line Future.

Market Specifications

Trading Screen Product Name

Gasoil Diff Futures (balmo)

Trading Screen Hub Name

Gasoil 50ppm FOB Rdam Bg (Platts)/LS GO 1st Line

Contract Symbol

UMF

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 “Mid” quotations appearing in the "Platts European Marketscan" under the heading "Northwest Europe barges" subheading "FOB Rotterdam" for "Gasoil 50 ppm" and the average of the settlement prices as made public by ICE for the Low Sulphur Gasoil 1st Line Future.

Roll Adjust Provision

In order to use the correct Floating Price quotations, the nearby month quotation for ICE Low Sulphur Gasoil 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 2 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 and ICE

MIC Code

IFEU

Clearing Venues

ICEU

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Trading Hours

Codes