- Trading Screen Product Name
- Heating Oil/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/WTI Futures Crack is
determined by the expiry date for ICE WTI Crude Futures.
- Settlement
Trading the NYH ULSHO/WTI Futures Crack will result in two separate
positions in the underlying futures markets for ICE WTI and NYH
ULSHO. The settlement of each leg will be the respective settlement
prices for both the ICE WTI and NYH ULSHO Futures contracts as made
public by ICE Futures Europe. Upon expiry of the ICE WTI Futures
leg, holders of the NYH ULSHO 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 WTI Futures settlement: The West Texas Intermediate Light Sweet
Crude Oil Futures Contract is cash settled against the prevailing
market price for US light sweet crude. It is a price in US Dollars
per Barrel equal to the penultimate settlement price for WTI Crude
Futures as made public by NYMEX for the month of production per
2005 ISDA Commodity Definitions.
- 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