ICE Panamax Timecharter (Baltic) Freight Future

A monthly cash settled freight future based on the Panamax Timecharter Index as made public by the Baltic Exchange.
== Contract Specs ==
Panamax Timecharter (Baltic) Freight Future	Panamax Timecharter (Baltic) Freight Future 	Panamax Timecharter (Baltic) Freight Future 	Panamax Timecharter (Baltic) Freight Future
Trading Screen Product Name 	Panamax Timecharter Freight Futures 	Panamax Timecharter Freight Futures 	Panamax Timecharter Freight Futures
Trading Screen Hub Name 	Panamax 	Panamax 	Panamax
Contract Symbol 	TCP 	TCP 	TCP
Contract Size 	1 day of time charter 	1 day of time charter 	1 day of time charter
Unit of Trading 	Any multiple of 1 day of time charter 	Any multiple of 1 day of time charter 	Any multiple of 1 day of time charter
Currency 	US Dollars and cents 	US Dollars and cents 	US Dollars and cents
Trading Price 	$1.00 per Charter Day 	$1.00 per Charter Day 	$1.00 per Charter Day
Settlement Price 	One cent ($0.01) per Charter Day 	One cent ($0.01) per Charter Day 	One cent ($0.01) per Charter Day
Minimum Price Fluctuation 	One cent ($0.01) per Charter Day 	One cent ($0.01) per Charter Day 	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. 	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. 	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. 	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. 	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.	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.	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 	Up to 48 consecutive months 	Up to 48 consecutive months
Final Payment Date 	Two Clearing House Business Days following the Last Trading Day 	Two Clearing House Business Days following the Last Trading Day 	Two Clearing House Business Days following the Last Trading Day
Business Days 	Publication days for Baltic Exchange 	Publication days for Baltic Exchange 	Publication days for Baltic Exchange
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	7:50 PM - 6:00 PM*
19:50 - 18:00 	7:40 PM
19:40
Trading Hours 	LONDON 	12:50 AM - 11:00 PM*
00:50 - 23:00 	12:40 AM
00:40
Trading Hours 	SINGAPORE 	7:50 AM - 6:00 AM*
07:50 - 06:00 	7:40 AM
07:40
Trading Hours 	*Next Day 	*Next Day 	*Next Day
Codes 	Clearing Admin Name 	Dry Freight Day 	Dry Freight Day
Codes 	Physical 	TCP 	TCP
Codes 	Logical 	TCP 	TCP
Codes 	GMI (FC) 	@8 	@8
Codes 	ION A.C.N. 	None 	None
== Notes ==
== References ==
== Resources ==
Panamax Timecharter (Baltic) Freight Future Contract Specs
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