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ICE Futures U.S.

Biofuel Outright - RVO (OPIS) Future

Description

A monthly cash settled future based on the OPIS daily assessment price for Renewable Volume Obligation (RVO)

Market Specifications

Trading Screen Product Name
Biofuel Futures
Trading Screen Hub Name
RVO (OPIS)
Contract Symbol
RVB
Contract Size
50,000 gallons
Unit of Trading
Any multiple of 50,000 gallons
Currency
US Dollars and cents
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
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per gallon based on the average of the “Mean” quotations appearing in the "OPIS Carbon Market Report" report under the heading "U.S. RINs (cts/RIN)” for “RVO (cts/gal)” for each business day (as specified below) in the determination period.
Contract Series
Up to 36 consecutive months, or as otherwise determined by the Exchange
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for OPIS Carbon Market Report
MIC Code
IFED
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 7:00 PM*
19:50 - 19:00
7:40 PM
19:40
London11:50 PM - 11:00 PM*
23:50 - 23:00
11:40 PM
23:40
Singapore7:50 AM - 7:00 AM*
07:50 - 07:00
7:40 AM
07:40

*Next Day

Sunday Pre-Open 5:10 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Am Ref bbl
Physical
RVB
Logical
RVB
GMI (FC)
ION A.C.N.
Symbol Code
RVB