- Trading Screen Product Name
- Heating Oil/Midland WTI Crack
- Trading Hours
GMT* Open 01:00 (23.00 on Sundays) Close 23:00
EST Hours* Open 20:00 (18:00 on Sundays) Close:18:00 the following
day
CST Hours* Open19:00 (17:00 on Sundays) Close:17:00 the following
day
Singapore Hours Open 09:00 (07:00 on Mondays) Close: 07:00 the
following day
*An Exchange Circular will be issued in advance of the UK switch
from GMT to BST and a further US switch to and from DST to confirm
the altered market opening and closing times.
- Unit of Trading
1,000 barrels (42,000 US gallons).
- Quotation
The contract price is in US Dollars and cents per barrel.
- Minimum Price Fluctuation
One cent ($0.01) per barrel.
- Maximum Price Fluctuation
There are no limits.
- 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.
- Contract Series
Up to 48 consecutive months
- Position Limit
The Exchange may impose position accountability levels or limits on
positions in this contract at its discretion as provided in Rules
P3 and P8 respectively.
- Last Trading Day
The last trading day for the ICE Heating Oil/Permian WTI Futures
Crack spread is determined by when the expiry date is for ICE
Permian WTI Futures.
- Settlement
Trading the ICE Heating Oil/Permian WTI Futures Crack spread will
result in two separate positions in the underlying futures markets
for ICE Permian WTI and ICE Heating Oil. The settlement of each leg
will be the respective settlement prices for both the ICE Permian
WTI and ICE Heating Oil Futures contracts as made public by ICE
Futures Europe. Upon expiry of the ICE Permian WTI Futures leg
(which is physically delivered), holders of the ICE Heating
Oil/Permian WTI Futures Crack spread trade will then be left with a
long or short position in the ICE Heating Oil Futures market which
will be settled on expiry of the relevant underlying ICE Heating
Oil Futures contract.
- MIC Code
- IFEU
- Clearing Venues
- ICEU