The ICE Low Sulphur Gasoil Futures Contract is designed to provide users with an effective hedging instrument and trading opportunities. Its underlying physical market is diesel barges delivered in the ARA region (Amsterdam, Rotterdam, Antwerp including Flushing and Ghent).
|Contract Size||100 metric tonnes|
|Units of Trading||One or more lots of 100 Metric Tonnes of Low Sulphur Gasoil (10ppm Diesel), with delivery by volume namely 118.35 Cubic Metres per Lot being the equivalent of 100 Metric Tonnes of Low Sulphur Gasoil (10ppm Diesel) at a density of 0.845 Kg/Litre in vacuum at 15°C.|
|Currency||US Dollars and cents|
|Trading Price||Twenty-five cents ($0.25) per Metric Tonne|
|Settlement Price||Twenty-five cents ($0.25) per Metric Tonne|
|Minimum Price Flux||Twenty-five cents ($0.25) per Metric Tonne|
|Trading Hours||UK Hours Open 01:00 London local time (23.00 on Sundays) Close
23:00 London local time.
EST Hours Open 20:00 (18:00 on Sundays) Close: 18:00 the following day.
Chicago Hours Open 19:00 (17:00 on Sundays) Close: 17:00 the following day.
Singapore Hours Open 08:00 (06:00 on Monday mornings) close 06:00 the next day.
|Clearing||The Clearing House guarantees financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a Member who is a member of the Clearing House.|
|Position Limits||Low Sulphur Gasoil is a physically-delivered contract and constraints exist on the delivery capacity of installations in the ARA region. Any position greater than 100 lots in any contract month must be reported to the exchange on a daily basis. During the final month of trading in a contract, the Exchange contacts holders of significant Low Sulphur Gasoil positions to confirm their intent and capability of making or taking delivery and may require that positions be reduced to limit position concentration, ensure price convergence with the physical market, and maintain market integrity.|
|Last Trading Day||Trading shall cease at 12:00 hours, 2 business days prior to the 14th calendar day of the delivery month.|
|Contract Series||Up to 62 consecutive months|
|Final Settlement||Physical delivery within the ARA area between the 16th and the last calendar day of the delivery month. **Deliveries between the months of October and March must be of winter grade quality with deliveries outside of these months (i.e. from April to September) being of summer grade quality. A full specification will be published on the ICE website under the ICE Low Sulphur Gasoil Futures contract web page.|
|Other Information||Contracts are for the future delivery of Low Sulphur Gasoil from the seller to the buyer into barge (or coaster up to 10,000 dwt) or by in-tank or inter-tank transfer from an Exchange Recognised Customs and Excise bonded storage installation or refinery in the Amsterdam, Rotterdam, Antwerp (ARA) area (including Flushing and Ghent) nominated by the seller and on a day nominated by the buyer within a mutually agreed 5 day delivery range between the 16th and the last calendar day of the delivery month. Quantity and quality is verified by one Exchange approved inspector selected from two nominated by the buyer. Buyers and sellers adhere to strict deadlines set out in the Exchange Contract Rules and Procedures.|
|Business Days||ICE Business Days|
Clearing Admin NameIPE e-Gas Oil