- Trading Screen Product Name
- Heating Oil/LS Gas Oil Spr
- 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
100 MT
- Unit of Trading
The minimum NYH ULSHO/LSGO Futures Spread quantity is 4 lots (made
up of 3 NYH ULSHO lots & 4 Low Sulphur Gasoil lots). The NYH
ULSHO/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)
- 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
- Last Trading Day
The last trading day for the NYH ULSHO/LSGO Futures Spread is
determined by the expiry date for ICE ULSHO Futures.
- Settlement
Trading the NYH ULSHO/Low Sulphur Gasoil Futures Spread will result
in two separate positions in the underlying futures markets for NYH
ULSHO and Low Sulphur Gasoil. The settlement of each leg will be
respective expiry of the NYH ULSHO and Low Sulphur Gasoil futures
contracts as made public by ICE Futures Europe. Upon expiry of the
ULSHO leg, holders of a NYH ULSHO/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 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 LS Gasoil futures expiry: Trading shall cease at 12:00 hours
London Time, 2 business days prior to the 14th calendar day of the
delivery month.
The weighted average price of trades is determined during a two
minute settlement period from 16:28:00 to 16:30:00, London time.
- 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