- Trading Screen Product Name
- Heating 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
1,000 barrels (42,000 gallons)
- Unit of Trading
Any multiple of 1,000 barrels (42,000 gallons)
- 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 ICE Heating Oil/NYH ULSHO Futures
Spread is determined by the expiry date for ICE Heating Oil
Futures.
- Settlement
Trading the ICE Heating Oil/NYH ULSHO Future Spread will result in
two separate positions in the underlying futures markets for ICE
Heating Oil and ICE ULSHO Futures. The settlement of each leg will
be the respective settlement prices for both the ICE Heating Oil
and ICE NYH ULSHO Futures contracts as made public by ICE Futures
Europe.
ICE NYH ULSHO Future settlement: The contract is physically
delivered in the New York Harbor region. The final settlement price
as determined on the last trading day of the expiring contract
month shall be the basis for delivery.
ICE Heating Oil Future settlement: The Heating Oil Futures Contract
is cash settled against the prevailing market price for Heating Oil
in New York Harbor. The cash settlement price in US Dollars and
cents per Gallon is equal to the penultimate settlement price for
New York Harbor ULSD Heating Oil Futures Contract as made public by
NYMEX for the month of production as specified within the relevant
Contract Rules by reference to the 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