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Description

The ICE Heating Oil Futures Contract is cash settled and designed to appeal to both physical and financial traders. In addition, offsetting of margins with other ICE Futures Oil Contracts ensures that a Member's collateral is used effectively when trading ICE Futures Oil Contracts

Market Specifications

Trading Screen Product Name

Heating Oil Futures

Trading Screen Hub Name

NYH

Contract Symbol

O

Contract Size

1,000 barrels (42,000 gallons)

Unit of Trading

Any multiple of 1,000 barrels

Currency

US Dollars and cents

Trading Price

One hundredth of one cent ($0.0001) per gallon

Settlement Price

One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation

One hundredth of one cent ($0.0001) per gallon

Maximum Price Fluctuation

There are no limits.

Clearing

The Clearing House guarantees financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a Member who is a member of the Clearing House

Contract Series

Up to 50 consecutive months

Position Limit

The applicable position, expiry and/or accountability levels, are set forth in Table 1 of ICE Futures Europe’s Position, Expiry and Delivery Limits and Accountability Levels Guidance.

Last Trading Day

Trading shall cease at the end of the designated settlement period on the penultimate US business day of the month preceding the delivery month where a US business day is a day on which NYMEX is opened for business

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.

NCR, RL and IPL Levels

NCR: 0.02;
RL: 0.04;
IPL: 0.06, 3 second recalculation and 5 second hold periods.

To access NCR documentation click here

Linked Future

Yes

Markers

TAS (Trade at Settlement)

Business Days

ICE Business Days

MIC Code

IFEU

Clearing Venues

ICEU

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• Heating Oil Outright - ICE (NYH) Heating Oil Last Day Future
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Trading Hours

Codes