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Description

A monthly cash settled mini future based on the difference between the Platts daily assessment price for 380 CST Singapore Fuel Oil and the Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil.

Market Specifications

Trading Screen Product Name

Fuel Oil Diff Futures

Trading Screen Hub Name

380cst Sing (Platts)/3.5% FOB Rdam Bg (Platts) Mini

Contract Symbol

TEY

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 “Mid” quotations appearing in the "Platts Asia-Pacific/Arab Gulf Marketscan" under the heading "Asia Products" subheading "Singapore" and "FOB Singapore ($/barrel)" for "HSFO 380 CST ($/mt)" and the average of the “Mid” quotations appearing in the "Platts European Marketscan" under the heading "Northwest Europe barges" subheading "FOB Rotterdam" for "Fuel oil 3.5%" for each Business Day in the determination period.

Non-Common Pricing applies.

Contract Series

Up to 60 consecutive months

Final Payment Date

Two Clearing House Business Days following the Last Trading Day in the determination period.

Business Days

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

MIC Code

IFEU

Clearing Venues

ICEU

Trading Hours

Codes