ICE Swap Trade LLC

55 East 52nd Street

New York, NY 10055

July 2, 2019

Submitted via the CFTC Portal

Submission 19-04

Secretary of the Commission

Office of the Secretariat

U.S. Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

Re: ICE Swap Trade, LLC – Rule Amendment

Ladies and Gentlemen:

Pursuant to Section 5c(c) of the Commodity Exchange Act (the “Act”) and Section 40.6(d) of the 

regulations of the Commodity Futures Trading Commission (the “Commission”), ICE Swap Trade, LLC 

(“IST” or the “SEF”) hereby notifies the Commission of amendments that were made to certain of its rules 

during the preceding week. The amendments contained herein have been made in order to affect certain 

administrative revisions. 

A concise explanation of the amendments to the Rulebook is attached hereto as Exhibit A. A copy of the 

revised Rulebook marked to show changes against the previous Rulebook with an effective date of July 

5, 2019, is attached hereto as Exhibit B. A clean copy of the revised Rulebook is attached hereto as 

Exhibit C. 

IST certifies that the rule amendment complies with the requirements of the Commodity Exchange Act 

and the rules and regulations promulgated thereunder. IST is not aware of any substantive opposing 

views expressed with respect to this filing and certifies that, concurrent with this filing, a copy of this 

submission was posted on the IST’s website and may be accessed at: https://www.theice.com/swaptrade/regulation#rule-filings. 

Please contact the undersigned at (212) 323-8543 with any questions regarding this matter.

Very truly yours,

Robert James Laorno

General Counsel

Enclosure
 

EXHIBIT A

Summary of Rulebook Changes

Rulebook

No.

Contract Name Outgoing

Code Reference

Replacement

Code Reference

1381 Fuel Oil 180 CST Singapore Balmo Swap SMK SZT

1382 Fuel Oil 3.5% FOB Med Cargoes vs 3.5% FOB 

Rotterdam Barges Balmo Swap

NVU NVT

1383 Fuel Oil 380 CST Singapore Balmo Swap SML SYT

13100 Singapore Jet Kerosene Balmo Swap BQA-BQZ; BRABRESBJ

13132 Diesel 10ppm FOB ARA Barges vs Low Sulphur 

Gasoil 1st Balmo Swap

VJZ;VKAVKZ;VLA-VLDUMA

13136 ULSD 10ppm CIF NWE Cargoes vs Low 

Sulphur Gasoil 1st Line Balmo Swap

ULZ UMD

13150 Fuel Oil 1% FOB Rotterdam Barges Balmo 

Swap

AWA-AWZ; AXAAXEFOC

13154 New York 1% Fuel Oil Balmo Swap FRA-FRZ; FSAFSEFOX

13157 New York 1% Fuel Oil vs Fuel Oil 1% FOB NWE 

Cargoes Balmo Swap

GGF-GGZ; GHAGHJFOI

13159 New York 1% Fuel Oil vs USGC HSFO Fuel Oil 

Balmo Swap

GHK-GHZ; GIAGIOFOE

13161 USGC HSFO Fuel Oil Balmo Swap FPA-FPZ; FQAFQERBP

13163 USGC HSFO Fuel Oil vs Fuel Oil 3.5% FOB 

Rotterdam Barges Balmo Swap

GJU-GJZ; GKAGKYGOD

13172 Naphtha C+F Japan Cargo Balmo Swap NJB NJD
 

Rule 1381. Fuel Oil 180 CST Singapore Balmo Swap

Contract Description: A balance of the month cash settled swap based on the Platts daily assessment 

price for 180 CST Singapore Fuel Oil.

Contract Symbol: SMK SZT

Contract Size: 1,000 metric tonnes

Unit of Trading: Any multiple of 1,000 metric tonnes

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per metric tonne

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: 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 “Mid” quotations appearing in the “Platts AsiaPacific/Arab Gulf Marketscan” under the heading “Asia Products” subheading “Singapore” and “FOB 

Singapore ($/barrel)” for “HSFO 180 CST ($/mt)” for each business day (as specified below) in the 

determination period.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Fourteen (14) Calendar Days after each settlement date via wire transfer or 

Federal funds

Business Days: Publication days for Platts Asia-Pacific/Arab Gulf Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.
 

Rule 1382. Fuel Oil 3.5% FOB Med Cargoes vs Fuel Oil 3.5% FOB Rotterdam Barges Balmo 

Swap

Contract Description: A balance of the month cash settled swap based on the difference 

between the Platts daily assessment price for 3.5% FOB Med Cargoes Fuel Oil and the Platts 

daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil

Contract Symbol: NVT NVU

Contract Size: 1,000 metric tonnes

Unit of Trading: Any multiple of 1,000 metric tonnes

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per metric tonne

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: In respect of final settlement, the Floating Price will be a price in USD 

and cents per metric tonne based on the difference between the average of the “Mid” 

quotations appearing in the “Platts European Marketscan” under the heading “Mediterranean 

cargoes” subheading “FOB MED (Italy)” for “Fuel Oil 3.5%” and the average of the “Mid” 

quotations appearing in the “Platts European Marketscan” under the heading “Northwest 

Europe barges” subheading “FOB Rotterdam” for “Fuel Oil 3.5%” for each business day (as 

specified below) in the determination period.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire 

transfer of Federal funds

Business Days: Publication days for Platts European Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The 

terms reflected in such contracts shall be controlling.
 

Rule 1383. Fuel Oil 380 CST Singapore Balmo Swap

Contract Description: A balance of the month cash settled swap based on the Platts daily assessment 

price for 380 CST Singapore Fuel Oil

Contract Symbol: SYT SML

Contract Size: 1,000 metric tonnes

Unit of Trading: Any multiple of 1,000 metric tonnes

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per metric tonne

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: 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 “Mid” quotations appearing in the “Platts AsiaPacific/Arab Gulf Marketscan” under the heading “Asia Products” subheading “Singapore” and “FOB 

Singapore ($/barrel)” for “HSFO 380 CST ($/mt)” for each business day (as specified below) in the 

determination period.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Fourteen (14) Calendar Days after each settlement date via wire transfer or 

Federal funds

Business Days: Publication days for Platts Asia-Pacific/Arab Gulf Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.
 

Rule 13100. Singapore Jet Kerosene Balmo Swap

Contract Description: A balance of the month cash settled swap based on the Platts daily assessment 

price for Singapore Jet Kerosene.

Contract Symbol: SBJ BQA-BQZ; BRA-BRE

Contract Size: 1,000 barrels

Unit of Trading: Any multiple of 1,000 barrels

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per barrel

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: In respect of final settlement, the Floating Price will be a price in USD and cents 

per barrel based on the average of the “Mid” quotations appearing in the “Platts Asia‐ Pacific/Arab Gulf 

Marketscan” under the heading “Asia Products” subheading “Singapore” and “FOB Singapore ($/barrel)” 

for “Kerosene” for each business day (as specified below) in the determination period.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Fourteen (14) Calendar Days after each settlement date via wire transfer or 

Federal funds

Business Days: Publication days for Platts Asia-Pacific/Arab Gulf Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.
 

Rule 13132. Diesel 10ppm FOB ARA Barges vs Low Sulphur Gasoil 1st Balmo Swap

Contract Description: A balance of the month cash settled swap based on the difference between the 

Platts daily assessment price for the Diesel 10 ppm FOB ARA Barges and the ICE settlement price for Low 

Sulphur Gasoil 1st Line Future

Contract Symbol: UMA VJZ;VKA-VKZ;VLA-VLD

Contract Size: 1,000 metric tonnes

Unit of Trading: Any multiple of 5,000 metric tonnes

Currency: US Dollars and cents

Trading Price Quotation: Twenty Five ($0.25) cents per metric tonne

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: In respect of final settlement, the Floating Price will be a price in USD and cents 

per metric tonne based on the difference between the average of the “Mid” quotations appearing in the 

"Platts European Marketscan" under the heading "Northwest Europe barges" subheading "FOB 

Rotterdam" for "Diesel 10 ppm" and the average of the settlement prices as made public by ICE for Low 

Sulphur Gasoil Future for each business day (as specified below) in the determination period. NonCommon Pricing applies.

Roll Adjust Provision: In order to use the correct Floating Price quotations, the nearby month quotation 

for ICE Low Sulphur Gasoil Futures specified in the Floating Price terms above will be used except for the 

expiration date of the commodity's underlying delivery month's futures contract. On such date, the 

applicable pricing quotation will be rolled to the following month's futures contract

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire transfer of 

Federal funds

Business Days: Publication days for Platts European Marketscan and ICE

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling
 

Rule 13136. ULSD 10ppm CIF NWE Cargoes vs Low Sulphur Gasoil 1st Line Balmo Swap

Contract Description: A balance of the month cash settled swap based on the difference between the 

Platts daily assessment price for the ULSD 10 ppm CIF NWE Cargoes and the ICE settlement price for Low 

Sulphur Gasoil 1st Line Future

Contract Symbol: UMD ULZ

Contract Size: 1,000 metric tonnes

Unit of Trading: Any multiple of 5,000 metric tonnes

Currency: US Dollars and cents

Trading Price Quotation: Twenty Five ($0.25) cents per metric tonne

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: In respect of final settlement, the Floating Price will be a price in USD and cents 

per metric tonne based on the difference between the “Mid” quotations appearing in the "Platts 

European Marketscan" under the heading "Northwest Europe cargoes" subheading "CIF NWE/Basis 

ARA" for "ULSD 10 ppm" and the average of the settlement prices as made public by ICE for the Low 

Sulphur Gasoil Future for each business day (as specified below) in the determination period. NonCommon Pricing applies.

Roll Adjust Provision: In order to use the correct Floating Price quotations, the nearby month quotation 

for ICE Low Sulphur Gasoil Futures specified in the Floating Price terms above will be used except for the 

expiration date of the commodity's underlying delivery month's futures contract. On such date, the 

applicable pricing quotation will be rolled to the following month's futures contract

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire transfer of 

Federal funds

Business Days: Publication days for Platts European Marketscan and ICE

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling
 

Rule 13150. Fuel Oil 1% FOB Rotterdam Barges Balmo Swap

Contract Description: A balance of the month cash settled swap based on the Platts daily assessment 

price for 1% FOB Rotterdam Barges Fuel Oil.

Contract Symbol: AWA-AWZ; AXA-AXE FOC

Contract Size: 1,000 metric tonnes

Unit of Trading: Any multiple of 1,000 metric tonnes

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per metric tonne

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: 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 “Mid” quotations appearing in the "Platts European 

Marketscan" under the heading "Northwest Europe Barges" subheading "FOB Rotterdam" for "Fuel Oil 

1.0%" for each business day (as specified below) in the determination period.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire transfer of 

Federal funds

Business Days: Publication days for Platts European Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.
 

Rule 13154. New York 1% Fuel Oil Balmo Swap

Contract Description: A balance of the month cash settled swap based on the Platts daily assessment 

price for New York 1% Fuel Oil.

Contract Symbol: FRA-FRZ; FSA-FSE FOX

Contract Size: 1,000 barrels

Unit of Trading: Any multiple of 1,000 barrels

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per barrel

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: In respect of final settlement, the Floating Price will be a price in USD and cents 

per barrel based on the average of the “Mid” quotations appearing in the "Platts US Marketscan" under 

the heading "Atlantic Coast New York" subheading "Residual fuel ($/bbl)" and "Cargo" for "No. 6 1%" for 

each business day (as specified below) in the determination period.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire transfer of 

Federal funds

Business Days: Publication days for Platts US Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.
 

Rule 13157. New York 1% Fuel Oil vs Fuel Oil 1% FOB NWE Cargoes Balmo Swap

Contract Description: A balance of the month cash settled swap based on the difference between the 

Platts daily assessment price for New York 1% Fuel Oil and the Platts daily assessment price for 1% FOB 

NWE Cargoes Fuel Oil.

Contract Symbol: GGF-GGZ; GHA-GHJ FOI

Contract Size: 1,000 barrels

Unit of Trading: Any multiple of 1,000 barrels

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per barrel

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: In respect of final settlement, the Floating Price will be a price in USD and cents 

per barrel based on the difference between the average of the “Mid” quotations appearing in the "Platts 

US Marketscan" under the heading "Atlantic Coast New York" subheading "Residual fuel ($/bbl)" and 

"Cargo" for "No. 6 1%" and the average of the “Mid” quotations appearing in the "Platts European 

Marketscan" under the heading "Northwest Europe cargoes" subheading "FOB NWE" for "Fuel oil 1.0%" 

for each business day (as specified below) in the determination period. Conversion Factor: 1 metric 

tonne = 6.35 barrels.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire transfer of 

Federal funds

Business Days: Publication days for Platts US Marketscan and Platts European Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.
 

Rule 13159. New York 1% Fuel Oil vs USGC HSFO Fuel Oil Balmo Swap

Contract Description: A balance of the month cash settled swap based on the difference between the 

Platts daily assessment price for New York 1% Fuel Oil and the Platts daily assessment price for US Gulf 

Coast High Sulphur Fuel Oil.

Contract Symbol: GHK-GHZ; GIA-GIO FOE

Contract Size: 1,000 barrels

Unit of Trading: Any multiple of 1,000 barrels

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per barrel

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: In respect of final settlement, the Floating Price will be a price in USD and cents 

per barrel based on the difference between the average of the “Mid” quotations appearing in the "Platts 

US Marketscan" under the heading "Atlantic Coast” subheading “New York Harbor" subheading 

"Delivered cargo ($/bbl)" and for "No. 6 1%" and the average of the “Mid” quotations appearing in the 

"Platts US Marketscan" under the heading "Gulf Coast" subheading "Houston" and "$/bbl" for "USGC 

HSFO" for each business day (as specified below) in the determination period.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire transfer of 

Federal funds

Business Days: Publication days for Platts US Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.
 

Rule 13161. USGC HSFO Fuel Oil Balmo Swap

Contract Description: A balance of the month cash settled swap based on the Platts daily assessment 

price for US Gulf Coast High Sulphur Fuel Oil.

Contract Symbol: FPA-FPZ; FQA-FQE RBP

Contract Size: 1,000 barrels

Unit of Trading: Any multiple of 1,000 barrels

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per barrel

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: In respect of final settlement, the Floating Price will be a price in USD and cents 

per barrel based on the average of the “Mid” quotations appearing in the "Platts US Marketscan" under 

the heading "Gulf Coast" subheading "Houston" and "$/bbl" for "USGC HSFO” for each business day (as 

specified below) in the determination period.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire transfer of 

Federal funds

Business Days: Publication days for Platts US Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.
 

Rule 13163. USGC HSFO Fuel Oil vs Fuel Oil 3.5% FOB Rotterdam Barges Balmo Swap

Contract Description: A balance of the month cash settled swap based on the difference between the 

Platts daily assessment price for US Gulf Coast High Sulphur Fuel Oil and the Platts daily assessment 

price for 3.5% FOB Rotterdam Barges Fuel Oil.

Contract Symbol: GJU-GJZ; GKA-GKY GOD

Contract Size: 1,000 barrels

Unit of Trading: Any multiple of 1,000 barrels

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per barrel

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: In respect of final settlement, the Floating Price will be a price in USD and cents 

per barrel based on the difference between the average of the “Mid” quotations appearing in the "Platts 

US Marketscan" under the heading "Gulf Coast" subheading "Houston" and "$/bbl" for "USGC HSFO” the 

average of the “Mid” quotations appearing in the "Platts European Marketscan" under the heading 

"Northwest Europe barges" subheading "FOB Rotterdam" for "Fuel Oil 3.5%" for each business day (as 

specified below) in the determination period. Conversion Factor: 1 metric tonne = 6.35 barrels.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire transfer of 

Federal funds

Business Days: Publication days for Platts US Marketscan and Platts European Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.
 

Rule 13172. Naphtha C+F Japan Cargo Balmo Swap

Contract Description: A balance of the month cash settled swap based on the Platts daily assessment 

price for Naphtha C+F Japan

Contract Symbol: NJD NJB

Contract Size: 1,000 metric tonnes

Unit of Trading: Any multiple of 1,000 metric tonnes

Currency: US Dollars and cents

Trading Price Quotation: One cent ($0.01) per metric tonne

Last Trading Day: Last Trading Day of the contract month

Final Settlement Price: 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 “Mid” quotations appearing in the "Platts AsiaPacific/Arab Gulf Marketscan" under the heading "Asia Products" subheading "Japan physical oil 

assessments" and "C+F Japan ($/mt)" for "Naphtha" for each business day (as specified below) in the 

determination period.

Roll Adjust Provision: N/A

Contract Series: Up to 2 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Fourteen (14) Calendar Days after each settlement date via wire transfer or 

Federal funds

Business Days: Publication days for Platts Asia-Pacific/Arab Gulf Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.