- Trading Screen Product Name
- Fuel Oil Diff Futures (balmo)
- Trading Screen Hub Name
- Marine 0.5% FOB Rdam Bg (Platts)/LS GO 1st Line
- Contract Symbol
FDI
- Contract Size
1,000 metric tonnes
- Unit of Trading
Any multiple of 1,000 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 ($0.001) per metric tonne
- Last Trading Day
Last Trading Day of the contract month
- Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
- Final Settlement
In respect of final settlement, the Floating Price will be a price
in USD and cents per metric tonne based on the difference between
the average of the “$/mt” quotations appearing in the
“Platts European Marketscan” under the heading
“Marine Fuel" for "0.5% FOB Rotterdam barge" and the average
of the settlement prices as made public by ICE for the front month
Low Sulphur Gasoil Future for each business day (as specified
below) in the determination period.
Non-Common Pricing applies.
- Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby
month quotation for ICE Low Sulphur Gasoil Futures specified in the
Floating Price terms above 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
- Final Payment Date
Two Clearing House Business Days following the Last Day in the
determination period.
- Business Days
Publication days for Platts European Marketscan.
- MIC Code
- IFEU
- Clearing Venues
- ICEU