Biofuels and Clean fuel programs
As worldwide legislations prioritize climate risk mitigation strategies, biofuels play a key role in meeting national goals of reducing greenhouse gas emissions in the transportation sector. ICE’s futures offering includes first and second-generation biofuels across several locations, Renewable Identification Numbers (RINs) and Low Carbon Fuel programs across North America.
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ICE biofuels and Clean fuel programs contracts
Ethanol
ICE lists ethanol futures covering key U.S. and European benchmarks, including Chicago, New York, and T2 FOB Rotterdam. These cash-settled contracts offer a comprehensive risk management toolset for producers, blenders, traders, and compliance entities active in the global ethanol market.
FAME
Fatty Acid Methyl Ester (FAME) is a biodiesel produced by transesterification of vegetable oils with methanol. The most actively traded future represents the difference between the Argus FAME FOB ARA Range assessment and ICE’s Low Sulphur Gasoil 1st Line Future.
RME
The biodiesel produced from rapeseed oil is called Rapeseed Methyl Ester (RME), more suitable for cold climates. The differential between the Argus RME FOB ARA Range assessment and ICE’s Low Sulphur Gasoil 1st Line Future is the primary hedging product.
UCOME
Made from used cooking oil, the finished methyl ester, UCOME, is a second-generation biofuel increasingly favored by blenders to satisfy the mandated (EU RED II) shift to waste-based biofuel. Launched in December 2020, the UCOME FOB ARA Range (RED Compliant) vs. Low Sulphur Gasoil 1st Line Future has been actively traded.
HVO
Hydrotreated Vegetable Oil (HVO) is a biodiesel made by the hydrocracking or hydrogenation of vegetable oils. Launched in July 2022, the HVO FOB ARA Range (Class II) vs Low Sulphur Gasoil 1st Line Future is a second-generation biodiesel contract based on the Argus assessment for HVO produced from used cooking oil (UCO).
SAF
Sustainable Aviation Fuel (SAF) is a renewable aviation fuel produced from sustainable feedstocks such as vegetable oils, waste oils and other waste-based sources. ICE offers futures based on both European and U.S. assessments, providing transparent, exchange-traded risk management tools for the global aviation market.
UCO
Used Cooking Oil (UCO) is one of the most widely used waste feedstocks, derived from exhausted cooking oils and essential to the production of renewable fuels. ICE’s UCO Futures – covering CIF ARA, FOB China, FOB Strait of Malacca, and USGC – offer global market coverage and expand ICE’s biodiesel offering into the feedstock market.
B99
B99 is a biodiesel blend containing 99% biodiesel and 1% petroleum diesel, commonly used by obligated parties and blenders in the U.S. to meet Renewable Fuel Standard (RFS) compliance. When blended into transportation fuel, B99 generates Renewable Identification Numbers (RINs), making it a key component of the U.S. biofuels compliance market.
RINs & RVO
Renewable Identification Number (RIN) futures on ICE, offered in cash and physical formats, support price discovery and risk management under the U.S. Renewable Fuel Standard. ICE also lists Renewable Volume Obligation (RVO) futures, which track the per-gallon compliance cost derived from RIN values and U.S. blending targets.
Low carbon fuel programs
ICE offers futures and options on key North American Low Carbon Fuel Programs, helping participants manage compliance and price risk across clean fuels markets.
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ICE biofuels and Clean fuel programs data center
Argus FAME 0 Future (code: BFZ)
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