ICE Panamax Timecharter (Baltic) Freight Future
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A monthly cash settled freight future based on the Panamax Timecharter Index as made public by the Baltic Exchange.[1]
Contents
Contract Specs
| Panamax Timecharter (Baltic) Freight Future | |||
|---|---|---|---|
| Trading Screen Product Name | Panamax Timecharter Freight Futures | ||
| Trading Screen Hub Name | Panamax | ||
| Contract Symbol | TCP | ||
| Contract Size | 1 day of time charter | ||
| Unit of Trading | Any multiple of 1 day of time charter | ||
| Currency | US Dollars and cents | ||
| Trading Price | $1.00 per Charter Day | ||
| Settlement Price | One cent ($0.01) per Charter Day | ||
| Minimum Price Fluctuation | One cent ($0.01) per Charter Day | ||
| Last Trading Day | Last Trading Day of the contract month
Note: the December will expire on the 24th of December or the previous business day where the 24th of December is a non-working 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. | ||
| Final Settlement | In respect of final settlement, the Floating Price will be a price in USD and cents per day based upon the average of the spot assessments as made public by the Baltic Exchange for the Panamax Timecharter Index for each business day (as specified below) in the determination period. | ||
| Contract Series | Up to 48 consecutive months | ||
| Final Payment Date | Two Clearing House Business Days following the Last Trading Day | ||
| Business Days | Publication days for Baltic Exchange | ||
| MIC Code | IFEU | ||
| Clearing Venues | ICEU | ||
| Trading Hours | CITY | TRADING | PRE-OPEN |
| NEW YORK | 7:50 PM - 6:00 PM*
19:50 - 18:00 |
7:40 PM
19:40 | |
| LONDON | 12:50 AM - 11:00 PM*
00:50 - 23:00 |
12:40 AM
00:40 | |
| SINGAPORE | 7:50 AM - 6:00 AM*
07:50 - 06:00 |
7:40 AM
07:40 | |
| *Next Day | |||
| Codes | Clearing Admin Name | Dry Freight Day | |
| Physical | TCP | ||
| Logical | TCP | ||
| GMI (FC) | @8 | ||
| ION A.C.N. | None | ||
