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ICE Futures Europe

Biodiesel Outright - Argus UCOME FOB ARA Range (Red Compliant) Future

Description

A monthly cash settled future based on the Argus daily assessment price for Renewable Energy Directive (RED) compliant UCOME FOB ARA Range.

Market Specifications

Trading Screen Product Name
Biodiesel Futures
Trading Screen Hub Name
Argus UCOME FOB ARA (Red)
Contract Symbol
BDB
Contract Size
100 metric tonnes
Unit of Trading
Any multiple of 100 metric tonnes
Currency
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per metric tonne
Settlement Price Quotation
One tenth of one cent ($0.001) per metric tonne
Minimum Price Fluctuation
One tenth of one cent ($0.001) per metric tonne
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 metric tonne based on the average of the mean of the “Bid” and “Ask” quotations appearing in the “Argus Biofuels” report under the heading “Biofuels spot prices” subheading “RED biodiesel” for “UCOME fob ARA range” for each business day (as specified below) in the determination period.
Contract Series
Up to 48 consecutive months
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for Argus Biofuels
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London11:50 PM - 10:00 PM*
23:50 - 22:00
11:40 PM
23:40
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

Codes

Clearing Admin Name
Ref Outright mt
Physical
BDB
Logical
BDB
GMI (FC)
ION A.C.N.
Symbol Code
BDB