- Trading Screen Product Name
- LS Gas Oil Futures
- Trading Screen Hub Name
- ULSD-ARA
- Contract Symbol
G
- Contract Size
100 metric tonnes
- Unit of Trading
One or more lots of 100 metric tonnes of low sulphur gasoil (10ppm
diesel), with delivery by volume namely 118.35 cubic metres per lot
being the equivalent of 100 metric tonnes of low sulphur gasoil
(10ppm diesel), at a density of 0.845 kg/litre in vacuum at 15
Celsius.
- Currency
US Dollars and cents
- Trading Price Quotation
Twenty-Five cents ($0.25) per metric tonne
- Settlement Price Quotation
Twenty-Five cents ($0.25) per metric tonne
- Minimum Price Fluctuation
Twenty-Five cents ($0.25) per metric tonne
- Contract Series
Up to 96 consecutive months
- 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.
- Position Limit
Low Sulphur Gasoil Futures is a physically delivered contract and
constraints exist on the delivery capacity of installations in the
ARA region. The Exchange's daily position management regime
requires that all positions in any contract month must be reported
to the Exchange on a daily basis. The Exchange has powers to
prevent the development of excessive positions or unwarranted
speculation or any other undesirable situation and may take any
steps necessary to resolve such situations including the ability to
mandate members to limit the size of such positions or to reduce
positions where appropriate.
During the final month of trading in a contract, the Exchange
contacts holders of Low Sulphur Gasoil positions to confirm their
intent and capability of making or taking delivery and may require
that positions be reduced to limit position concentration, ensure
price convergence with the physical market, and maintain market
integrity.
- Last Trading Day
Trading shall cease at 12:00 hours London Time, 2 business days
prior to the 14th calendar day of the delivery month.
- Daily Settlement
The weighted average price of trades during a two minute settlement
period from 16:28:00, London time.
- Final Settlement
Physical delivery within the ARA region between 16th and last calendar day of the delivery month.
Physical deliveries between the months of October and March must be of winter grade quality with deliveries outside of these months (i.e. from April to September) being of summer grade quality. Full quality specifications are published in the
ICE Futures Europe Rulebook.
- NCR, RL and IPL Levels
"NCR: 5.00;
RL: 7.50;
IPL: 7.50, 3 second recalculation and 5 second hold periods.
To access NCR documentation click
here- Additional Information
Contracts are for the future delivery of low sulphur gasoil from
the seller to the buyer into barge (or coaster up to 15,000 dwt) or
by in-tank or inter-tank transfer from an Exchange Recognised
Customs and Excise bonded storage installation or refinery in the
Amsterdam, Rotterdam, Antwerp (ARA) area (including Flushing and
Ghent) nominated by the seller and on a day nominated by the buyer
within a mutually agreed 5 day delivery range between the 16th and
the last calendar day of the delivery month. Quantity and quality
is verified by one Exchange approved inspector selected from two
nominated by the buyer. Buyers and sellers adhere to strict
deadlines set out in the Exchange Contract Rules and Procedures.
- Markers
TAS (Trade at Settlement)
MM (Minute Marker)
Sing MM (Singapore Minute Marker)
- Business Days
ICE Business Days
- MIC Code
- IFEU
- Clearing Venues
- ICEU