- Trading Screen Product Name
- Heating Oil/Midland WTI Crack
- Trading Hours
GMT Hours* - 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* – Open: 19:00 (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
- Contract Size
1,000 barrels (42,000 gallons)
- Unit of Trading
Any multiple of 1,000 barrels (42,000 gallons)
- Trading Price Quotation
One cent ($0.01) per barrel
- Settlement Price Quotation
One cent ($0.01) per barrel
- Minimum Price Fluctuation
One cent ($0.01) per barrel
- Last Trading Day
The last trading day for the NYH ULSHO/Permian WTI Futures Crack is
determined by the expiry date for ICE Permian WTI Crude Futures.
- Settlement
Trading the NYH ULSHO/Permian WTI Futures Crack will result in two
separate positions in the underlying futures markets for NYH ULSHO
and ICE Permian WTI. The settlement of each leg will be the
respective settlement prices for both the ICE NYH ULSHO Futures and
ICE Permian WTI Futures contracts as made public by ICE Futures
Europe. Upon expiry of the ICE Permian WTI Futures leg, holders of
the NYH ULSHO/Permian WTI crack trade will then be left with a long
or short position in the NYH ULSHO market which will be settled on
expiry of the relevant underlying NYH ULSHO futures contract.
ICE NYH ULSHO Futures settlement: The final settlement price as
determined on the Last Trading Day of the expiring contract month
shall be the basis for delivery.
ICE Permian WTI Futures settlement: The final settlement price as
determined on the Last Trading Day of the expiring contract month
shall be the basis for delivery.
- 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. Exemptions from position limits may be
granted at Exchange discretion for bona fide hedge positions
- Contract Series
Up to 24 consecutive months
- Business Days
ICE Business Days
- MIC Code
- IFEU
- Clearing Venues
- ICEU