Heating Oil/Low Sulphur Gasoil Futures Spread3545360

Description

The ICE Heating Oil/Low Sulphur Gasoil (HO/LSGO) Futures Spread is financially settled with any position resulting in two legs in the underlying Heating Oil and Low Sulphur Gasoil markets. In listing the HO/LSGO Futures Spread, it enables traders to manage price risk for Middle Distillates cargoes moving between the United States and Europe.

Market Specifications

Trading Screen Product Name
Heating Oil/LS Gas Oil Spr
Trading Screen Hub Name
NYH
Unit of Trading
The minimum HO/LSGO Futures Spread quantity is 4 lots (made up of 3 Heating Oil lots & 4 Low Sulphur Gasoil lots). The HO/LSGO Futures Spread trades in 4 lot increments. The LS Gasoil (traded in metric tonnes) is converted into a price per gallon using a conversion factor of 312.9. To convert LS Gasoil into US Dollars/gallon simply divide the price by 312.9.

The conversion factor of 312.9 is derived from 2 conversions: Metric Tonnes to Barrels (1:7.45) Barrels to Gallons (1:42)
Currency
US Dollars and cents
Trading Price Quotation
One hundredth of one cent ($0.0001) per gallon
Settlement Price Quotation
One hundredth of one cent ($0.0001 per gallon
Minimum Price Fluctuation
One hundredth of one cent ($0.0001) per gallon
Maximum Price Fluctuation
There are no limits.
Contract Series
Up to 36 consecutive months forward
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
Terms are deferred to the contracts referenced by the leg markets.
Last Trading Day
Trading shall cease at the end of the designated settlement period on the penultimate US business day of the month preceding the contract month.
Final Settlement
Trading the Heating Oil/Low Sulphur Gasoil Futures Spread will result in two separate positions in the underlying futures markets for Heating Oil and Low Sulphur Gasoil. The settlement of each leg will be respective expiry of the Heating Oil and Low Sulphur Gasoil futures contracts as made public by ICE Futures Europe. Upon expiry of the Heating Oil leg, holders of a Heating Oil/Low Sulphur Gasoil Futures Spread trade will then be left with a long or short position in the Low Sulphur Gasoil market which will then be settled on expiry of the relevant underlying Low Sulphur Gasoil Futures contract.

ICE LS Gasoil futures expiry: Trading shall cease at 12:00 hours, 2 business days prior to the 14th calendar day of the delivery.

The weighted average price of trades is determined during a two minute settlement period from 16:28:00 to 16:30:00, London time.

ICE Heating Oil futures expiry: Trading shall cease at the end of the designated settlement period on the penultimate US business day of the month preceding the delivery period.
MIC Code
IFEU
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York8:00 PM - 6:00 PM*
20:00 - 18:00

London1:00 AM - 11:00 PM*
01:00 - 23:00

Singapore9:00 AM - 7:00 AM*
09:00 - 07:00

*Next Day

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Codes

Clearing Admin Name
HO/LS GO Spr
Physical
O
Logical
UHO
GMI(FC)
OM
R&N A.C.N.
NF69