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Description

A monthly cash settled future based on the OPIS daily assessment price for Physically Delivered D5 RINs.

Market Specifications

Trading Screen Product Name

Biofuel Futures

Trading Screen Hub Name

D5 RINs (OPIS)

Contract Symbol

BFI

Contract Size

50,000 RINs

Unit of Trading

Any multiple of 50,000 RINs

Currency

US Dollars and cents

Trading Price Quotation

One hundredth of one cent ($0.0001) per RIN

Settlement Price Quotation

One hundredth of one cent ($0.0001) per RIN

Minimum Price Fluctuation

One hundredth of one cent ($0.0001) per RIN

Last Trading Day

Last trading 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 RIN based on the average of the mean of the high and low quotations appearing in the “OPIS Ethanol and Biodiesel Information Service” report under the heading "OPIS Ethanol & Gasoline Component Spot Market Prices" subheading "US RINs" and "U.S. Advanced Biofuel RINs" for “Current Yr” for each business day (as specified below) in the determination period.

Contract Series

Up to 36 consecutive months, or as otherwise determined by the Exchange

Final Payment Date

Two Clearing House Business Days following the Last Trading Day in the determination period.

Business Days

Publication days for OPIS Ethanol and Biodiesel Information Service

MIC Code

IFED

Clearing Venues

ICEU

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Trading Hours

Codes