ICE Futures U.S.

Diesel Crack - Gulf Coast ULSD vs Brent 1st Line Future

Diesel Crack - Gulf Coast ULSD vs Brent 1st Line Future6753299

Description

A monthly cash settled future based on the difference between the Platts daily assessment price for Gulf Coast Ultra Low Sulfur Diesel and the ICE daily settlement price for Brent 1st Line Future.

Market Specifications

Trading Screen Product Name
Diesel Crack Futures
Trading Screen Hub Name
USGC ULSD/Brent 1st Line
Commodity Code
GUV
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 1,000 barrels
Currency
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Settlement Price Quotation
One tenth of one cent ($0.001) per barrel
Minimum Price Fluctuation
One hundredth of one cent ($0.0001) per barrel
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 barrel based on the difference between the average of the mean of the high and low quotations appearing in the "Platts US Marketscan" under the heading "Gulf Coast" subheading "Distillates and blendstocks" and "Pipeline" for "Ultra low sulfur diesel" and the average of the settlement prices as made public by ICE for the front month Brent 1st Line Swap Future for each Business Day in the determination period. Conversion Factor: 1,000 barrels = 42,000 gallons.
Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent 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
One Business Day following the Last Trading Day
Business Days
US Business Days
MIC Code
IFED
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

*Next Day

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

Codes

Clearing Admin Name
Cracks bbl
Physical
GUV
Logical
GUV
GMI(FC)
Y#
R&N A.C.N.
1285