Platts LNG Derivatives Swap

ICE OTC

A monthly cash settled swap based on the Platts daily assessment price for the LNG Japan/Korea Marker (JKM).

Trading Screen Product Name: Platts APAC LNG Derivatives
Trading Screen Hub Name: JKM
Rule Number: 13111
Contract Symbol: JKM
Contract Size: 10,000 MMBtu per contract month
Unit of Trading: Any multiple of 10,000 MMBtus
Currency: US Dollars and cents
Trading Price Quotation: One tenth of one cent ($0.001) per MMBtu
Last Trading Day: Trading shall cease on the 15th calendar day of the calendar month prior to the contract month. If the 15th calendar day is not a business day, then trading shall cease on the next preceding business day.
Final Settlement: In respect of final settlement, the Floating Price will be a price in USD and cents per MMBtu based on the average of the relevant quotations appearing in “Platts LNG Daily” under the heading "Platts daily LNG markers ($/MMBtu)” subheading “DES Japan/Korea Marker (JKM)" for “JKM (month)” for each business day (as specified below) in the determination period.

Non-Common Pricing applies.
Contract Series: Up to 12 consecutive months, or as otherwise determined by the SEF
Final Payment Date: Five (5) New York Business Days after each settlement date via wire transfer of Federal funds
Business Days: Publication days for Platts LNG Daily
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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