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Description

A balance of the month cash settled swap based on the difference between the Platts daily assessment price for US Gulf Coast High Sulphur Fuel Oil and the Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil.

Market Specifications

Trading Screen Product Name

Platts Fuel Oil Diff (balmo)

Trading Screen Hub Name

USGC HSFO (Platts)/3.5% FOB Rdam Bg (Platts)

Rule Number

13163

Contract Symbol

GOD

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

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 “Mid” quotations appearing in the "Platts US Marketscan" under the heading "Gulf Coast" subheading "Houston" and "$/bbl" for "USGC HSFO” the average of the “Mid” quotations appearing in the "Platts European Marketscan" under the heading "Northwest Europe barges" subheading "FOB Rotterdam" for "Fuel Oil 3.5%" for each business day (as specified below) in the determination period. Conversion Factor: 1 metric tonne = 6.35 barrels.

Contract Series

Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Date

Five (5) New York Business Days after each settlement date via wire transfer of Federal funds

Business Days

Publication days for Platts US Marketscan and Platts European Marketscan

Other Terms

To be confirmed directly between the parties in their full form of contract. The terms reflected in such contracts shall be controlling.

MIC Code

ICES

Clearing Venues

Bilateral

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Trading Hours

Codes