ICE Futures Europe

Biodiesel Diff-Argus Bio-D RME FOB ARA Range (RED Compliant) vs Low Sulphur Gasoil 1st Line Future

Biodiesel Diff-Argus Bio-D RME FOB ARA Range (RED Compliant) vs Low Sulphur Gasoil 1st Line Future31687085

Description

A cash settled future based on the difference between the Argus daily assessment price for Renewable Energy Directive (RED) compliant Rapeseed OME (RME) Biodiesel FOB ARA range and the ICE daily settlement price for Low Sulphur Gasoil 1st Line Future

Market Specifications

Trading Screen Product Name
Biodiesel Diff Futures
Trading Screen Hub Name
Argus RED RME FOB Rdam/LS GO 1st Line
Commodity Code
BRI
Contract Size
100 metric tonnes
Unit of Trading
Any multiple of 100 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
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 metric tonne based on the difference between the average of the mean of the high and low quotations appearing in the “Argus Biofuels” report under the heading “Renewable energy directive (RED) spot prices” for “Rapeseed OME fob Rotterdam” and the average of the settlement prices as made public by ICE for Gasoil 1st Line Swap Future for each business day (as specified below) in the determination period
Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby month quotation for ICE Gasoil Futures specified in the Floating Price terms above will be used except for the expiration date of the commodity's underlying delivery month's futures contract. On such date, the applicable pricing quotation will be rolled to the following month's futures contract
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 Argus Biofuels
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 AM - 7:00 AM
08:50 - 07:00
8:40 AM
08:40

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Ref Diffs mt
Physical
BRI
Logical
BRI
GMI(FC)
R&N A.C.N.