ICE U.S. Jumbo 30-year Fixed Mortgage Rate Lock Weighted APR Index Futures82426604
ICE Futures U.S.
ICE U.S. Jumbo 30-year Fixed Mortgage Rate Lock Weighted APR Index Futures
Description
ICE Mortgage Rate Lock Index futures offer market participants a more precise hedging tool for residential mortgage interest rate risk. The monthly futures contracts are cash-settled and track the ICE U.S. Conforming 30-year Fixed Index and the ICE U.S. Jumbo 30-year Fixed Index respectively.
Market Specifications
- Trading Screen Product Name
- ICE U.S. Jumbo 30-Yr Fixed Mtg Rate Lock Weighted APR Index Futures
- Trading Screen Hub Name
- ICUS
- Contract Size
- $5,000 x Index Price Quotation
- Contract Series
- 6 consecutive monthly contracts
- Price Quotation
- 100 minus the numerical value of the Reference Rate
One interest rate basis point = 0.01 price points = $50 per contract. - Reference Rate
- ICE U.S. Jumbo 30-Year Fixed Mortgage Rate Lock Index (LRJ30FIX)
- Tick Size
- 0.005, equal to $25.00 per contract.
(Block and EFRP Trades can be priced at .001 Index point increments) - Trading Hours
- 8:00 pm to 6:00 pm (6:00 pm open on Sunday evening)
Preopen starts 30 minutes prior to the start of trading. - Last Trading Day
- SIFMA Class A 30 Year UMBS Monthly Settlement Day*.
- Contract Symbol
- 30J
- Daily Settlement Window
- 14:58 to 15:00 NY time
- Final Settlement
- Cash Settlement.
Final Settlement Price is equal to 100 minus the numerical value of the Reference Rate on the Last Trading Day, rounded to the nearest three decimal places. - Position Accountability and Limit Levels
- Position Accountability Level, single month – TBD
Position Limit, All Months Combined – TBD - Daily Price Limit
- None
- Off Exchange Trade Types
- Block Enabled, 5 lot Block Minimum Quantity
EFP
EFS - IPL Levels
- IPL Amount: 0.375 Index Points (37.5 Basis Points)
Recalc Time: 3 Seconds; Hold time: 5 seconds - NCR and RL
- No Cancellation Range: .100 Index Points (10 Basis Points)
Reasonability Level: 0.15 Index Points (15 Basis Points)
CSLOR: .125 Index Points (12.5 Basis Points) - Fees
- Screen, Block and EFRP Trades: $1.00 per side
- MIC Code
- IFUS
- Clearing Venues
- ICUS
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 8:00 PM - 6:00 PM* 20:00 - 18:00 | 7:30 PM 19:30 |
| LONDON | 1:00 AM - 11:00 PM 01:00 - 23:00 | 12:30 AM 00:30 |
| SINGAPORE | 9:00 AM - 7:00 AM* 09:00 - 07:00 | 8:30 AM 08:30 |
*Next Day
8:00 pm to 6:00 pm (6:00 pm open on Sunday evening) Preopen starts 30 minutes prior to the start of trading.
Codes
- Clearing Admin Name
- IFUS Mortgage
- Physical
- 30J
- Logical
- 30J
- GMI (FC)
- ION A.C.N.
- Symbol Code
- 30J