Clean FFA - Arab Gulf to Japan (Platts) Future

ICE Futures Europe

A monthly cash settled freight future based on the Platts daily assessment price for the 55kt Arab Gulf to Japan route.

Trading Screen Product Name: Freight Futures (USD)
Trading Screen Hub Name: Arab Gulf-Japan (Clean)
Contract Symbol: TCY
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 hundredth of one cent ($0.0001) per metric tonne
Settlement Price Quotation: One hundredth of one cent ($0.0001) per metric tonne
Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per metric tonne
Last Trading Day: Last Trading Day of the contract month
Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement: In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the average of the “$/mt” assessments appearing in the “Platts Clean Tankerwire” under the heading “EAST OF SUEZ LRS” for the Arab Gulf to Japan 55kt route for each business day (as specified below) in the determination period.
Contract Series: Up to 48 consecutive months or as otherwise determined by the Exchange.
Final Payment Date: Two Clearing House Business Days following the Last Day in the determination period.
Business Days: Publication days for Platts Clean Tankerwire
MIC Code: IFEU
Clearing Venues: ICEU

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

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