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Description

A cash settled future based on the daily settlement price for US Soybean Oil Futures (in metric tonnes), excluding the last business day of each contract month

Market Specifications

Trading Screen Product Name

Biodiesel Futures

Trading Screen Hub Name

Soybean Oil Pen 1st Line

Contract Symbol

SOY

Contract Size

100 metric tonnes (220,462 pounds)

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

Trading shall cease at the close of trading on the penultimate business 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 settlement prices as made public by CBOT for the Soybean Oil Futures contract month subsequent to the IFEU Soybean Oil Penultimate Day 1st Line Future contract month being final settled (see schedule table here), excluding the last business day of each contract month.

Conversion factor: 1 metric tonne = 2,204.62 pounds (lb)

Click here for the Soybean Oil Schedule.

Contract Series

Up to 48 consecutive months

Final Payment Date

Two Clearing House Business Days following the Last Trading Day

Linked Future

Yes

Business Days

Publication days for CBOT, excluding the last business day of each contract month

MIC Code

IFEU

Clearing Venues

ICEU

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Trading Hours

Codes