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Description

A monthly cash settled future based on the difference between the Platts daily assessment price for Paraxylene CFR Taiwan/China and the Platts daily assessment price for Naphtha C+F Japan Cargoes.

Market Specifications

Trading Screen Product Name

PetChem Diff Futures

Trading Screen Hub Name

Paraxylene CFR Taiwan/China (Platts)/Naphtha C&F Japan Cg (Platts)

Contract Symbol

PCB

Contract Size

100 metric tonnes

Unit of Trading

Any multiple of 100 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 high and low quotations appearing in the “Platts Asian Petrochemicalscan” report under the heading “Aromatics ($/mt)” subheading “CFR Taiwan” for “PX” and the average of the “Mid” quotations appearing in the “Platts Asia-Pacific/Arab Gulf Marketscan” under the heading “Japan physical oil assessments” subheading “C+F Japan ($/mt)” for “Naphtha” for each business day (as specified below) in the determination period.

Contract Series

Up to 24 consecutive months

Final Payment Date

Two Clearing House Business Days following the Last Trading Day.

Business Days

Publication days for Platts Asian Petrochemicalscan and Platts Asia-Pacific/Arab Gulf Marketscan

MIC Code

IFEU

Clearing Venues

ICEU

Related Products

• PetChem Outright – Paraxylene CFR Taiwan/China (Platts) Future

Trading Hours

Codes