The global benchmark for middle distillates

ICE Low Sulphur Gasoil is the benchmark for the middle part of the refined barrel and the world’s leading middle distillate benchmark for the oil market .They represent an important hedging and trading mechanism, providing participants with access to a range of products in a single contract, and play the same role for middle distillate oil that ICE Brent Crude plays for the crude oil market.

Who trades Low Sulphur Gasoil futures?

The highly liquid ICE oil markets continue to attract a wide range of users, from commercial participants and producers to asset managers and pension funds.

Producer / Merchant/ Processor / User

Entities with exposure to the underlying physical market for the commodity which use the futures market to hedge the risks associated with such exposure. "Commercial" participants. Examples would include oil exploration and drilling firms, specialist commodity trading firms with physical exposures, producers, exporters/importers, coffee roasters, cocoa processors, sugar refiners, food and confectionary manufacturers, millers, crushers or utility companies who consume oil to generate power.

Swap Dealer

Entities dealing primarily in "swap" or other Over The Counter ("OTC") transactions in the commodity in question and who use the futures market to hedge this exposure. Examples would include investment banks and other complex financial institutions

Managed Money

Entities managing futures trading on behalf of clients; investment firms. Examples include hedge funds, pension funds, registered US commodity trading advisors or commodity pool operators.

Other Reportables

Every other reportable trader. Examples would include proprietary (multi-asset) trading houses, algorithmic traders and local traders.

Nonreportable Positions

This is a balancing figure and consists of the total reportable long, short and spreading positions subtracted from the overall open interest figure for the commodity.