Fuel Oil Crack - Marine Fuel 0.5% FOB Rotterdam Barges (Platts) vs Brent 1st Line Balmo Future (in MTs)83035221
ICE Futures Europe
Fuel Oil Crack - Marine Fuel 0.5% FOB Rotterdam Barges (Platts) vs Brent 1st Line Balmo Future (in MTs)
Description
A balance of the month cash settled future based on the difference between the Platts daily assessment price for 0.5% FOB Rotterdam Barges Marine Fuel and the ICE settlement price for Brent 1st Line Future (in MTs).
Market Specifications
- Trading Screen Product Name
- Fuel Oil Crack Futures (mt) (balmo)
- Trading Screen Hub Name
- Marine 0.5% FOB Rdam Bg (Platts)/Brent 1st Line
- Contract Symbol
- MHE
- 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 barrel
- Settlement Price Quotation
- One tenth of one cent ($0.001) per barrel
- Minimum Price Fluctuation
- One tenth of one cent ($0.001) per barrel
- Last Trading Day
- Last Trading Day of the contract month
- Floating Price
- In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
- Final Settlement
- In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the “$/mt” quotations appearing in the “Platts European Marketscan” under the heading “Marine Fuel" for "0.5% FOB Rotterdam barge" and the average of the settlement prices as made public by ICE for the front month Brent Crude Future for each Business Day in the determination period.
Non-Common Pricing applies.
Conversion Factor: 1 metric tonne = 6.35 barrels. - Roll Adjust Provision
- In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent 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
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 8:50 AM - 7:00 AM* 08:50 - 07:00 | 8:40 AM 08:40 |
*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- Cracks mt
- Physical
- MHE
- Logical
- MHE
- GMI (FC)
- ION A.C.N.
- Symbol Code
- MHE