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Description

A monthly cash settled future based on the Argus weekly assessment price for US Midcontinent Rail Asphalt.

Market Specifications

Trading Screen Product Name

Fuel Oil Futures

Trading Screen Hub Name

Argus Midcon Asphalt

Contract Symbol

MWR

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 Midcontinent” subheading “Asphalt” for “Rail, 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

Trading Hours

Codes