Naphtha Outright - Middle East Naphtha FOB Arab Gulf (Platts) Future

ICE Futures Europe

A monthly cash settled future based on the Platts daily assessment price for FOB Arab Gulf Naphtha.

Trading Screen Product Name: Naphtha Futures
Trading Screen Hub Name: Middle East FOB Arab Gulf (Platts)
Contract Symbol: NOI
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 ($0.001) per metric tonne
Last Trading Day: Last Trading Day of the contract month
Final Settlement: In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the average of the “Mid” quotations appearing in the "Platts Asia-Pacific/Arab Gulf Marketscan" under the heading "Asia Products" subheading "Middle East physical oil assessments" and "FOB Arab Gulf ($/barrel)" for "Naphtha ($/mt)" for each business day (as specified below) in the determination period.
Contract Series: Up to 60 consecutive months
Final Payment Date: Two Clearing House Business Days following the Last Trading
Business Days: Publication days for Platts Asia-Pacific/Arab Gulf Marketscan
MIC Code: IFEU
Clearing Venues: ICEU

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