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Description

A monthly cash settled future based on the ICIS weekly assessment price for Base Oils Group II Export Price N100/120 FOB USGC.

Market Specifications

Trading Screen Product Name

Base Oil Futures

Trading Screen Hub Name

Grp II N100/120 FOB USGC Export (ICIS)

Contract Symbol

BOU

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 Tuesday of the contract month. If such Tuesday is not a business day then the Last Trading Day will be the Tuesday prior that is a business day that is the same as the publication date of the ICIS Base Oils (Americas) Report. The December contract month Last Trading Day will be the Tuesday prior to Christmas Day.

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.

Contract Series

Up to 36 consecutive months, or as otherwise determined by the Exchange.

Business Days

Publication days for ICIS Base Oils (Americas) weekly report

Final Payment Date

Two Clearing House Business Days following the Last Trading Day

Final Settlement

In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the average of the “Mid price” quotations appearing in the weekly “ICIS Base Oils (Americas)” report under the heading “Group II Export Spot Market Price” for “Base Oils Paraffinic Group II N100/120 USG Export Spot FOB” for each business day (as specified below) in the determination period.

MIC Code

IFED

Clearing Venues

ICEU

Trading Hours

Codes