55 East 52nd Street

New York, New York 10055

BY ELECTRONIC TRANSMISSION

Submission No. 23-59

May 16, 2023

Mr. Christopher J. Kirkpatrick

Secretary of the Commission

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Extension of U.S. Fuel Oil Liquidity Provider Program

Submission Pursuant to Section 5c(c)(1) of the Act and Regulation 40.6

Dear Mr. Kirkpatrick:

Pursuant to Commodity Futures Trading Commission (“CFTC”) Regulation 40.6(a), ICE 

Futures U.S., Inc. (“IFUS” or “Exchange”) hereby submits, by written certification, notice that 

the Exchange is extending the term of the U.S. Fuel Oil Liquidity Provider Program (“Program”) 

through May 31, 2025. The Program, which was launched on February 22, 2018 with the listing 

of global fuel oil futures contracts, was scheduled to terminate on May 31, 2023 (see ICE Futures 

U.S. Submission No. 22-205). However, the Exchange believes that the program will continue 

to help tighten markets and build interest in the covered products and is, therefore, extending the 

Program for an additional two-year term, provided, however, that the Exchange in its sole 

discretion may cancel the Program prior to that time. 

The Exchange certifies that the Program complies with the requirements of the 

Commodity Exchange Act and the rules and regulations promulgated thereunder. In particular, 

the Program complies with Core Principle 4 (Monitoring of Trading), Core Principle 9 

(Execution of Transactions) and Core Principle 12 (Protection of Market Participants). The 

Program does not impact order execution priority or otherwise give participants any execution 

preference or advantage. In addition, the Exchange’s Market Regulation Department actively 

monitors for trading abuses using electronic exception reports and will take appropriate action 

against any participants engaging in market abuses. 
The Exchange is not aware of any opposing views with regard to the Program extension, 

which will become effective on June 1, 2023, and further certifies that, concurrent with this 

filing, a copy of this submission was posted on the Exchange’s website at 

(https://www.theice.com/futures-us/regulation#rule-filings). 

If you have any questions or need further information, please contact me at 212-748-4021 

or at jason.fusco@theice.com.

Sincerely,

Jason V. Fusco

Assistant General Counsel

Market Regulation

Enc.
EXHIBIT A

[PARAGRAPHS REDACTED]

ICE Futures U.S. US Fuel Oil Liquidity Provider Program

Program Purpose

The purpose of the Program is to attract and incentivize participants to trade ICE Futures U.S. US Fuel 

Oil Futures contracts to increase liquidity in the products; this enhanced liquidity will benefit all 

participants in the marketplace.

Product Scope

All ICE Futures U.S. US Fuel Oil futures contracts traded.

Eligible Participants

IFUS may designate up to five Participants in the Program, who may be Exchange members or nonmembers. Applicants will be chosen based on their ability to prove that they are among the most active 

trade participants in the US Fuel Oil market. Notwithstanding the foregoing the Exchange may add or 

subtract from the aforementioned criteria as it deems necessary.

Program Term

The term of the program shall end on May 31, 202[3]5. 

Obligations

[REDACTED]

Program Incentives

[REDACTED]

Monitoring and Termination of Status

The Exchange shall monitor trading activity and Participants’ performance and shall retain the right to 

revoke Participants’ status if it concludes from review that a Program Participant no longer meets the 

eligibility requirements of this Program.