- Trading Screen Product Name
- Fuel Oil Crack Futures (balmo)
- Trading Screen Hub Name
- Marine Fuel 0.5% FOB USGC Bg (Platts)/Brent 1st Line
- Contract Symbol
MGG
- Contract Size
1,000 barrels
- Unit of Trading
Any multiple of 1,000 barrels
- 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 ($0.001) per barrel
- Last Trading Day
Last Trading Day of the contract month
- Final Settlement
In respect of final settlement, the Floating Price will be a price
in USD and cents per barrel based on the difference between the
average of the “$/barrel” quotations appearing in the
“Platts US Marketscan” under the heading “Marine
Fuel” for “0.5% FOB US Gulf Coast barge" and the
average of the settlement prices as made public by ICE for the
front month Brent Future for each business day (as specified below)
in the determination period.
- Roll Adjust Provision
The nearby month quotation for ICE Futures Europe Brent Futures
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, or as otherwise determined by the
Exchange
- Business Days
Publication days for Platts US Marketscan and ICE
- MIC Code
- IFED
- Clearing Venues
- ICEU