- Trading Screen Product Name
- Fuel Oil Futures
- Trading Screen Hub Name
- Argus USGC Asphalt
- Contract Symbol
BIT
- Contract Size
1,000 barrels
- Unit of Trading
Any multiple of 1,000 barrels
- Currency
US Dollars and cents
- Trading Price Quotation
One hundredth of one cent ($0.0001) per barrel
- Settlement Price Quotation
One hundredth of one cent ($0.0001) per barrel
- Minimum Price Fluctuation
One hundredth of one cent ($0.0001) per barrel
- Last Trading Day
Last Friday of the contract month. If such Friday is not a business
day then the Last Trading Day will be the business day prior that
is the same as the publication date of Argus Americas Asphalt
report.
- 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 average of the mean of the
“High” and “Low” quotations appearing in
the “Argus Americas Asphalt” report under the heading
“US Gulf Coast” subheading “Asphalt” for
“Waterborne, fob” and “Asphalt” for each
business day (as specified below) in the determination period.
conversion factor: 1 short ton = 5.6 barrels
- Contract Series
Up to 48 consecutive months, or as otherwise determined by the
Exchange
- Business Days
Publication days for Argus Americas Asphalt.
- MIC Code
- IFED
- Clearing Venues
- ICEU