55 East 52nd Street

New York, New York 10055

Submission No. 19-79

January 31, 2019

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: New Pine Prairie Swing Future and Related Amendments (23 of 48)

Submission Pursuant to Section 5c(c)(1) of the Act and Regulation 40.2 

Dear Mr. Kirkpatrick:

Pursuant to Commission Regulations 40.2, ICE Futures U.S., Inc. (“Exchange”) submits, by 

written certification, new Rules 18.A.215-18.A.233, 18.B.346 and 18.B.347, 18.D.051, 18.E.127-

18.E.132, 19.A.36, 19.A.37, 19.B.15, 19.C.108-19.C.110, 19.F.34, and 19.G.7, amendments to Rules 

18.D.005, 18.D.007, 18.D.008, 18.D.011, 18.D.028, 18.E.047, 18.E.059-18.E.062, amendments to 

Resolutions 1 and 2 of Chapter 18, and amendments to Resolutions 1 and 2 of Chapter 19. The new rules

and amendments provide for 31 new futures contracts and 17 new options on futures contracts, which will 

be listed on or about April 8, 2019, or such other date as the Exchange shall determine which shall be no 

sooner than the second business day following the business day on which this submission is received by 

the Commission.

New Financial Gas Futures and Options Contracts

The Exchange is listing one new Financial Gas fixed price future, the Socal Citygate Fixed Price Future, a

monthly cash settled future based upon the monthly price for natural gas at Socal Citygate price hub. The 

contract will reach expiry at the close of business on the last business day prior to the first calendar day of 

the contract period. The new Financial Gas fixed price future will cash settle to the price published by 

Natural Gas Intelligence in its Bidweek Survey. The contract will have a position limit equivalent to 

similar Financial Gas contracts referencing Socal Citygate and will be aggregated with the Socal Citygate 

Basis Future for purposes of position limits and accountability.

The Exchange is listing five new index futures contracts and seven new daily swing futures contracts that 

complement existing basis contracts currently listed by the Exchange for the CG Onshore, TETCO-ELA, 

TETCO-WLA, Transco Station 30 (Zone 1), Trunkline Zone 1A, and Union Dawn price hubs. The swing 

futures are daily cash settled futures based upon the price for natural gas at the various price hubs. The 

contracts will reach expiry on the business day prior to the contract period. The future will cash settle to 

the price published by Platts in Gas Daily for the relevant contract period for natural gas at the various 

price hubs. The index futures are monthly cash settled future based on the difference between the monthly 

price for natural gas at the various price hubs published by Platts for Inside FERC and the average of 

daily prices published by Platts in Gas Daily. The contracts will cease trading on the last business day 

prior to the first calendar day of the contract period.
The Exchange is listing three new Financial Gas futures based on the Pine Prairie price hub. The Pine 

Prairie Basis Future, a monthly cash settled future based upon the difference between the monthly price 

for natural gas at Pine Prairie price hub published by Platts for Inside FERC and the NYMEX Henry Hub 

Natural Gas Futures contract. The contract will reach expiry at the close of business on the last business 

day prior to the first calendar day of the contract period. Additionally, the Exchange is listing the Pine 

Prairie Swing Future, a daily cash settled future based upon the price for natural gas at Pine Prairie price 

hub. The contract will reach expiry on the business day prior to the contract period. The future will cash 

settle to the price published by Platts in Gas Daily for the relevant contract period for natural gas at the 

Pine Prairie price hub. The Exchange is also listing the Pine Prairie Index Future, a monthly cash settled 

future based on the difference between the monthly price for natural gas at Pine Prairie price hub 

published by Platts for Inside FERC and the average of daily prices published by Platts in Gas Daily. The 

contract will cease trading on the last business day prior to the first calendar day of the contract period. 

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the contracts are 

similar to other Financial Gas contracts listed by the Exchange. The listing cycle and other relevant 

specifications are provided in the contract specifications in Exhibit A. The Exchange has set spot month 

position limits, and single and all month accountability levels consistent with similar Financial Gas 

contracts. A deliverable supply analysis detailing the methodology the Exchange used to determined spot 

month position limits for the Pine Prairie Basis, Index, and Swing Futures contracts and the Tennessee 

Zone 1 Swing Future contract is attached to this submission as Exhibit B. Corresponding amendments to 

Resolution No. 2 of Chapter 18 related to the listing of TETCO ELA Index Future (“TEI”) provide for the 

reference of the new TETCO ELA Swing Future as a positive aggregate are provided in Exhibit A.

The Exchange is also listing one European-style options on futures contracts based on the Socal Citygate 

Fixed Price Future, as described further below. The contract will reach expiration at the end of the 

trading session on the last business day prior to the first calendar day of the contract period. The new 

option is subject to the position limit and accountability levels of the underlying futures contracts.

Financial Power Fixed Price Futures and Options Contracts

The Exchange is listing two new Financial Power fixed price futures. First, the PJM Western Hub RealTime Peak Daily Mini Fixed Price Future, a daily cash settled future based upon the mathematical

average of peak hourly electricity prices published by PJM for the Western Hub price hub. Secondly, the 

ERCOT North 345KV Hub Real-Time Peak Daily Mini Fixed Price Future, a daily cash settled future 

based upon the mathematical average of peak hourly electricity prices published by ERCOT for North 

Hub price hub. Generally, the contracts will reach expiry at 11:00pm (EPT) on the business day following 

the contract period. Positions in the PJM Western Hub Real-Time Peak Daily Mini Fixed Price Future

and ERCOT North 345KV Hub Real-Time Peak Daily Mini Fixed Price Future will be aggregated with 

and subject to position limits and single and all month accountability levels of the PJM Western Hub 

Real-Time Peak (800 MWh) Fixed Price Future and the ERCOT North 345KV Real-Time Peak Fixed 

Price Future, respectively.

The Exchange is also listing three European-style options on futures contracts based on an existing 

futures contract listed by the Exchange, the Option on MISO Indiana Hub Day-Ahead Peak Daily Fixed 

Price Future, Option on PJM AEP Dayton Hub Day-Ahead Peak Daily Fixed Price Future, and the Option 

on PJM NI Hub Day-Ahead Peak Daily Fixed Price Future, as described further below. The Europeanstyle daily options will reach expiration at the end of the trading session on the Last Business Day prior to 

the Contract Period. Each corresponding daily future will act as the underlying reference price for the 

options. The new options will be subject to the position limits and accountability levels of the underlying

futures contracts. 
The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the contracts are 

similar to other Financial Power contracts listed by the Exchange. The listing cycle and other relevant 

specifications are provided in the contract specifications in Exhibit A. For PJM Western Hub Real-Time 

Peak Daily Mini Fixed Price Future, ERCOT North 345KV Hub Real-Time Peak Daily Mini Fixed Price 

Future, Option on MISO Indiana Hub Day-Ahead Peak Daily Fixed Price Future, Option on PJM AEP 

Dayton Hub Day-Ahead Peak Daily Fixed Price Future, and the Option on PJM NI Hub Day-Ahead Peak 

Daily Fixed Price Future contracts, the Exchange has set spot month position limits, and single and all 

month accountability levels consistent with similar Financial Power contracts that reference the various 

price hubs.

Physical Environmental Futures and Options Contracts

a. Cross State Air Pollution TR NOx Annual Allowance Future and Option

The Exchange is listing one new future and option contract calling for the delivery of Cross State Air 

Pollution (“CSAPR”) Trading Program Allowances having a vintage of 2019. The amendments to 

Exchange Rule 18.D.005 include the new 2019 vintage to the tradable futures markets available. 

Additionally, the Exchange is listing one European-style option on the new future. The option will reach 

expiry at 4:00 p.m. (EPT) on the 15th calendar day of the delivery month. If the 15th calendar day is not a 

business day, then the expiry day will be the first business day following the 15th calendar day of the 

delivery month. Amendments to Exchange Rule 18.E.059 include the new 2019 vintage to the tradable 

options markets available. Positions held in the options contract will be aggregated with the underlying 

future for purposes of position limits and accountability.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times,

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the futures and 

options contract are similar to other Physical Environmental contracts listed by the Exchange. The listing 

cycle and other relevant specifications are provided in the contract specifications in Exhibit A. Position 

limits and accountability levels are similar to other futures and options contracts referencing the delivery 

of CSAPR TR NOx Annual Allowances.

b. Cross State Air Pollution Rule NOx Ozone Season Group 2 Allowance Future and Option

The Exchange is listing one new future and option contract calling for the delivery of Cross State Air 

Pollution (“CSAPR”) Group 2 NOx Season Trading Program Allowances having a vintage of 2019. The 

amendments to Exchange Rule 18.D.028 include the new 2019 vintage to the tradable futures markets 

available. Additionally, the Exchange is listing one European-style option on the new future. The option 

will reach expiry at 4:00 p.m. (EPT) on the 15th calendar day of the delivery month. If the 15th calendar 

day is not a business day, then the expiry day will be the first business day following the 15th calendar day 

of the delivery month. Amendments to Exchange Rule 18.E.060 include the new 2019 vintage to the 

tradable options markets available. Positions held in the options contract will be aggregated with the 

underlying future for purposes of position limits and accountability.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the futures and 

options contracts are similar to other Physical Environmental contracts listed by the Exchange. The listing 

cycle and other relevant specifications are provided in the contract specifications in Exhibit A. Position 

limits and accountability levels are similar to other futures and options contracts referencing the delivery 

of CSAPR Group 2 NOx Season Trading Program Allowances.
c. Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future and Option

The Exchange is listing one new future and option contract calling for the delivery of Cross State Air 

Pollution (“CSAPR”) SO2 Group 1 Trading Program Allowances having a vintage of 2019 and 

allowances having a vintage of any year prior to the 2019 vintage year. The amendments to Exchange 

Rule 18.D.007 include the new 2019 vintage to the tradable futures markets available. Additionally, the 

Exchange is listing one European-style option on the new future. The option will reach expiry at 4:00 

p.m. (EPT) on the 15th calendar day of the delivery month. If the 15th calendar day is not a business day, 

then the expiry day will be the first business day following the 15th calendar day of the delivery month. 

Amendments to Exchange Rule 18.E.061 include the new 2019 vintage to the tradable options markets 

available. Positions held in the options contract will be aggregated with the underlying future for 

purposes of position limits and accountability.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the futures and 

options contracts are similar to other Physical Environmental contracts listed by the Exchange. The listing 

cycle and other relevant specifications are provided in the contract specifications in Exhibit A. Position 

limits and accountability levels are similar to other futures and options contracts referencing the delivery 

of CSAPR Group 1 SO2 Season Trading Program Allowances.

d. Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future and Option

The Exchange is listing one new future and option contract calling for the delivery of Cross State Air 

Pollution (“CSAPR”) SO2 Group 2 Trading Program Allowances having a vintage of 2019 and 

allowances having a vintage of any year prior to the 2019 vintage year. The amendments to Exchange 

Rule 18.D.008 include the new 2019 vintage to the tradable futures markets available. Additionally, the 

Exchange is listing one European-style option on the new future. The option will reach expiry at 4:00 

p.m. (EPT) on the 15th calendar day of the delivery month. If the 15th calendar day is not a business day, 

then the expiry day will be the first business day following the 15th calendar day of the delivery month. 

Amendments to Exchange Rule 18.E.062 include the new 2019 vintage to the tradable options markets 

available. Positions held in the options contract will be aggregated with the underlying future for purposes 

of position limits and accountability.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the futures and 

options contracts are similar to other Physical Environmental contracts listed by the Exchange. The listing 

cycle and other relevant specifications are provided in the contract specifications in Exhibit A. Position 

limits and accountability levels are similar to other futures and options contracts referencing the delivery 

of CSAPR Group 2 SO2 Trading Program Allowances.

e. Regional Greenhouse Gas Initiative Future and Option

The Exchange is listing one new future and option contract calling for the delivery of Regional 

Greenhouse Gas Initiative CO2 Allowances having a vintage of 2022 and allowances having a vintage of 

any year prior to the 2022 vintage year. The amendments to Exchange Rule 18.D.011 include the new 

2019 vintage to the tradable futures markets available. Additionally, the Exchange is listing one 

European-style option on the new future. The option will reach expiry at 4:00 p.m. (EPT) on the 15th

calendar day of the delivery month. If the 15th calendar day is not a business day, then the expiry day will 

be the first business day following the 15th calendar day of the delivery month. Amendments to Exchange 

Rule 18.E.047 include the new 2019 vintage to the tradable options markets available. Positions held in 
the options contract will be aggregated with the underlying future for purposes of position limits and 

accountability.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the futures and 

options contracts are similar to other Physical Environmental contracts listed by the Exchange. The listing 

cycle and other relevant specifications are provided in the contract specifications in Exhibit A. Position 

limits and accountability levels are similar to other futures and options contracts referencing the delivery 

of Regional Greenhouse Gas Initiative Allowances.

f. California Carbon Offset Future

The Exchange is listing one new futures contract with physical delivery of California Air Resources 

Board (“CARB”) greenhouse gas emissions offset credits. The futures contract complements the existing 

suite of California Carbon Allowance futures and options contracts. Each credit is a certificate issued by 

CARB representing one metric ton equivalent of greenhouse gas emission reduction or removals 

enhancements achieved under California Assembly Bill 32 “California Global Warming Solutions Act of 

2006,” and its associated regulations, rules and amendments, and collectively known as the “California 

Cap and Trade Program.” The contract will reach expiration three business days prior to the last business 

day of the delivery month. At expiry, the offset credits are deliverable through the California MTS, in 

accordance with the contract specification.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times,

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the California 

Carbon Offset contract are similar to other Physical Environmental contracts listed by the Exchange. The 

listing cycle and other relevant specifications are provided in the contract specifications in Exhibit A. A 

deliverable supply analysis detailing the methodology the Exchange used to determined spot month 

position limits for the California Carbon Offset Future is attached to this submission as Exhibit B.

g. NEPOOL Dual Qualified Compliance Renewable Energy Certificate Options

The Exchange is listing two new Physical Environmental options contract based on existing NEPOOL 

Dual Qualified Renewable Energy Certificate futures for both the non-vintage specific program and the 

2018-23 vintage years. The options contracts supplement the existing NEPOOL Dual Qualified REC 

futures currently listed by the Exchange. The options will reach expiry at 4:00 p.m. (EPT) on the 15th

calendar day of the delivery month. If the 15th calendar day is not a business day, then the expiry day will 

be the first business day following the 15th calendar day of the delivery month. New Exchange Rules 

18.E.127-18.E.128 provide for the listing of the new options contracts.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the contracts are 

similar to other Physical Environmental contracts listed by the Exchange. The listing cycle and other 

relevant specifications are provided in the contract specifications in Exhibit A. For the options contracts, 

the Exchange has set spot month position limits, and single and all month accountability levels consistent 

with the Physical Environmental futures contracts that reference the delivery of NEPOOL Dual Qualified 

Compliance Renewable Energy Certificates and underlie the future. Additionally, positions held in this 

contract will be aggregated with the relevant futures contract for position limits and accountability 

purposes.
Financial Olefins Futures Contract

The Exchange is listing one new Financial Olefin contract, the Ethylene Choctaw, IHS Future, a monthly 

cash settled future based upon the average of the daily prices published by OPIS Petrochem Wire for 

ethylene delivered FOB at the Choctaw price hub in Louisiana. The contract will reach expiration on the 

last trading day of the month and will settle to the average of prices reported by Petrochem Wire during 

the contract month.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the contract are 

similar to other ethylene contracts listed by the Exchange. The listing cycle and other relevant 

specifications are provided in the contract specifications in Exhibit A. A Deliverable Supply Analysis 

detailing the methodology the Exchange used to determine the spot month position limits for the 

aforementioned contract is attached hereto as Exhibit B.

Oil Americas Futures Contracts

a. Permian WTI 1st Line Future and Average Price Option

The Exchange is listing one monthly cash settled futures contract and one monthly options contract based 

on the ICE daily settlement price for Permian WTI Futures traded on ICE Futures Europe. The futures 

contract will cease trading on the last trading day of the contract month and cash settle to the average of 

the settlement prices as made public by ICE for the front month Permian WTI Futures contract for the 

month of production. The options contract will automatically exercise based on the settlement price of the 

underlying future on the last trading day of the contract month. Both the option and the future will have a 

contract size of 1,000 barrels.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the contract are 

similar to other Oil Americas contracts listed by the Exchange. The listing cycle and other relevant 

specifications are provided in the contract specifications in Exhibit A. A Deliverable Supply Analysis 

detailing the methodology the Exchange used to determine the spot month position limits for the 

aforementioned contract is attached hereto as Exhibit B.

b. ICE-NGX Differential Futures

The Exchange is listing two monthly cash settled futures contract based on the difference between the 

relevant ICE-NGX indices and NYMEX WTI 1st Line Future. Specifically, the Condensate Diff - ICE C5 

1a PEA Index Future represents price of crude oil as a differential to WTI on Peace pipeline at Edmonton, 

AB and Peace pipeline at Namao, AB. And secondly, the Condensate Diff - ICE C5 1a ENB Index Future 

represents the price of crude oil as a differential to WTI on Enbridge Transfer pipeline at Edmonton, AB. 

The ICE-NGX 1a indices are transacted at Canadian locations and are calculated as the volume-weighted 

average of all transactions in the relevant product from the first trading day of the month prior to delivery 

until the last day before the first Notice of Shipments (NOS) date for the delivery month, inclusive. The 

official NOS dates are published by Enbridge Pipeline prior to the start of each calendar year.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the contracts are 

similar to other Oil Americas contracts listed by the Exchange. The listing cycle and other relevant 

specifications are provided in the contract specifications in Exhibit A. A Deliverable Supply Analysis 
detailing the methodology the Exchange used to determine the spot month position limits for the 

aforementioned contracts is attached hereto as Exhibit B.

c. Biodiesel Outright - Argus Houston Methanol Future

The Exchange is listing one monthly cash settled futures contract based on the Argus daily assessment 

price for methanol FOB Houston barges. The contract size is 100 metric tonnes. The contract will cease 

trading on the last trading day of the contract month and will settle to the average of the “Index” 

quotations appearing in the Argus Methanol Daily report under the heading “Methanol prices”, 

subheading “Americas” for “fob Houston barge” for each business day in the determination period.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the contract are 

similar to other Oil Americas contracts listed by the Exchange. The listing cycle and other relevant 

specifications are provided in the contract specifications in Exhibit A. A Deliverable Supply Analysis 

detailing the methodology the Exchange used to determine the spot month position limits for the 

aforementioned contract is attached hereto as Exhibit B.

d. Fuel Oil Crack - USGC Marine Fuel 0.5% Houston (Platts) vs Brent 1st Line Future

The Exchange is listing one monthly cash settled future based on the Platts daily assessment price of the 

US Gulf Coast Marine Fuel 0.5% Houston and the ICE settlement price for Brent 1st Line Future traded 

on ICE Futures Europe. The contact size is 1,000 barrels, consistent with other Oil Americas contracts 

listed on the Exchange. The contract will cease trading on the last trading day of the contract month and 

will settle to the difference between the average of the “Mid” quotations appearing in the Platts US 

Marketscan under the heading “Gulf Coast” subheading “Houston” and “$/barrel” for “USGC Marine 

Fuel 0.5%” and the average of the settlement prices as made public by ICE For the front month Brent 

Future for each business day in the determination period.

The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the contract are 

similar to other Oil Americas contracts listed by the Exchange. The listing cycle and other relevant 

specifications are provided in the contract specifications in Exhibit A. The position limits and 

accountability levels are consistent with similar Oil Americas futures contracts currently listed by the 

Exchange that reference USGC Marine Fuel 0.5% FOB Houston.

e. Fuel Oil Diff - USGC Marine Fuel 0.5% Houston (Platts) vs 3.5% FOB Rotterdam Barges 

(Platts) Future (in Bbls)

The Exchange is listing one monthly cash settled future based on the Platts daily assessment price for US 

Gulf Coast Marine 0.5% Houston Fuel Oil and the Platts daily assessment price for 3.5% FOB Rotterdam 

Barges Fuel Oil (in bbls). The contract size of the futures contract is 1,000 barrels, consistent with other 

Oil Americas contracts currently listed on the Exchange. For purposes of the contract, 1 metric tonne is 

equivalent to 6.35 barrels. The contract will cease trading on the last trading day of the month and will 

settle to the difference between the average of the “Mid” quotations appearing in the Platts US 

Marketscan under the heading “Gulf Coast” subheading “Houston” and “$/barrel” for “USGC Marine

Fuel 0.5%” 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 in the determination period. 
The contract size, minimum price fluctuation, Interval Price Limits (IPLs) and IPL recalculation times, 

No-Cancellation Ranges (NCRs), spot month position limits and single and all month accountability 

levels are provided in relevant documents attached as Exhibit A. All relevant terms of the contract are 

similar to other Oil Americas contracts listed by the Exchange. The listing cycle and other relevant 

specifications are provided in the contract specifications in Exhibit A. The position limits and 

accountability levels are consistent with similar Oil Americas futures contracts currently listed by the 

Exchange that reference USGC Marine Fuel 0.5% FOB Houston.

New Options Contracts

As indicated above, the Exchange is listing 17 new options contracts based on the price of an underlying 

futures contract currently listed by the Exchange or included in this filing. The contract sizes, minimum 

price fluctuations, No-Cancellation Ranges (NCRs), spot month position limits and single and all month 

accountability levels are provided in relevant documents attached as Exhibit A. All relevant terms of the 

contracts are similar to other Financial Gas, Financial Power, Physical Environmental, and Oil Americas

options contracts currently listed by the Exchange. The listing cycle and other relevant specifications are 

provided in the contract specifications in Exhibit A. The position limits for the options contracts will be 

based on the position limits for the futures contracts underlying the options. Positions held in the options 

contracts will be aggregated with any positions held in the underlying futures market.

Certifications

The new rules and rule amendments will become effective with the listing of the new futures and options

contracts. The Exchange is not aware of any substantive opposing views to the new futures and options

contracts. The Exchange certifies that the new contract rules and rule amendments comply with the 

requirements of the Act and the rules and regulations promulgated thereunder. The Exchange has 

reviewed the designated contract market core principles ("Core Principles") as set forth in the Act and has 

determined that the listing of the contracts complies with the following relevant Core Principles:

COMPLIANCE WITH RULES

The terms and conditions of the new futures and options contracts are set forth in new Rules

18.A.215-18.A.233, 18.B.346 and 18.B.347, 18.D.051, 18.E.127-18.E.132, 19.A.36 and 19.A.37,

19.B.15, 19.C.108-19.C.110, 19.F.34, and 19.G.7, amendments to Rules 18.D.005, 18.D.007, 

18.D.008, 18.D.011, 18.D.028, 18.E.047, 18.E.059-18.E.062, amendments to Resolutions 1 and 2 

of Chapter 18, and amendments to Resolutions 1 and 2 of Chapter 19, and will be enforced by the 

Exchange. In addition, trading of the contracts are subject to all relevant Exchange rules which 

are enforced by the Market Regulation Department. 

CONTRACTS NOT READILY SUBJECT TO MANIPULATION

The new futures and options contracts are not readily subject to manipulation as they are based on 

established and liquid underlying cash markets. In addition, trading of the new contracts will be 

monitored by the Market Regulation Department. 

POSITION LIMITS OR ACCOUNTABILITY

Positions in the new futures and options contracts will be subject to position limits and 

accountability levels set by the Exchange. As described above, such position limits are based 

upon existing levels set for substantially similar products or are based upon the deliverable supply 

in the cash market. A Deliverable Supply Analysis is attached hereto as Exhibit B. Positions in 

the new options will be aggregated with the underlying futures contracts and subject to the 

position limits in place for the underlying futures contracts.
FINANCIAL INTEGRITY OF CONTRACTS

The new futures and options contracts will be cleared by ICE Clear Europe, a registered 

derivatives clearing organization subject to Commission regulation, and carried by registered 

futures commission merchants qualified to handle customer business. 

The Exchange further certifies that, concurrent with this filing, a copy of this submission was 

posted on the Exchange’s website and may be accessed at (https://www.theice.com/futures-us/regulation). 

If you have any questions or need further information, please contact me at 312-836-6745 or at 

patrick.swartzer@theice.com.

Sincerely,

Patrick Swartzer

Manager

Market Regulation

Enc.

cc: Division of Market Oversight

New York Regional Office
EXHIBIT A

Rule Contract Name Commodity Code

Contract 

Size Unit of Trading Minimum Tick [1]

IPL 

Amount

IPL 

Recalc 

Time 

(Seconds)

IPL Hold 

Period 

(Seconds) NCR

18.D.051 California Carbon Offset Future CCO 1,000 Carbon Offsets 0.01 $2.50 3 5 $0.25

18.D.005 Cross State Air Pollution TR NOx Annual Allowance Vintage 2019 Future NAR 25 Allowances 0.01 $60.00 3 5 $10.00

18.D.028 Cross State Air Pollution Rule NOx Ozone Season Group 2 Allowance Future 

Vintage 2019 NOU 25 Allowances 0.01 $60.00 3 5 $10.00

18.D.007 Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future - Vintage 

2019 SOT 25 Allowances 0.01 $60.00 3 5 $10.00

18.D.008 Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future - Vintage 

2019 STR 25 Allowances 0.01 $60.00 3 5 $10.00

18.D.011 Regional Greenhouse Gas Initiative Vintage 2022 Future RGU 1,000 Allowances 0.01 $1.00 3 5 $0.10

18.E.059 Option on Cross State Air Pollution TR NOx Annual Allowance Vintage 2019 

Future NAR 25 Allowances 0.01 N/A 20% of Premium FMV up to 10.00; Min/Max Range: 0.50/10.00

18.E.060 Option on Cross State Air Pollution Rule NOx Ozone Season Group 2 

Allowance Future Vintage 2019 NOU 25 Allowances 0.01 N/A 20% of Premium FMV up to 10.00; Min/Max Range: 0.50/10.00

18.E.061 Option on Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future SOT 25 Allowances 0.01 N/A 20% of Premium FMV up to 10.00; 

Min/Max Range: 0.50/10.00

18.E.062 Option on Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future STR 25 Allowances 0.01 N/A 20% of Premium FMV up to 10.00; 

Min/Max Range: 0.50/10.00

18.E.047 Option on Regional Greenhouse Gas Initiative Future Vintage 2022 RGU 1,000 Allowances 0.01 N/A 20% of Premium FMV up to 0.10; 

Min/Max Range: 0.05/0.10

18.E.127 Option on NEPOOL Dual Qualified Compliance Renewable Energy Certificate 

Class I Future NER 100 MWh 0.01 N/A 20% of Premium FMV up to 1.00; Min/Max Range: 0.05/1.00

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2018 Future NE8 100 MWh 0.01 N/A 20% of Premium FMV up to 1.00; Min/Max Range: 0.05/1.00

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2019 Future NE9 100 MWh 0.01 N/A 20% of Premium FMV up to 1.00; Min/Max Range: 0.05/1.00

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2020 Future NE0 100 MWh 0.01 N/A 20% of Premium FMV up to 1.00; Min/Max Range: 0.05/1.00

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2021 Future NE1 100 MWh 0.01 N/A 20% of Premium FMV up to 1.00; Min/Max Range: 0.05/1.00

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2022 Future NE2 100 MWh 0.01 N/A 20% of Premium FMV up to 1.00; Min/Max Range: 0.05/1.00

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2023 Future NE3 100 MWh 0.01 N/A 20% of Premium FMV up to 1.00; Min/Max Range: 0.05/1.00

18.A.231 CG Onshore Index Future CVG 2,500 MMBtu 0.0001 $0.20 3 5 $0.02

18.A.232 CG Onshore Swing Future CVH 2,500 MMBtu 0.0001 $4.00 3 5 $0.05

18.A.233 Pine Prairie Basis Future CVI 2,500 MMBtu 0.0001 $4.00 3 5

20% of Basis/Spread FMV up to 

0.05; Min/Max Range: 0.02/0.05

18.A.215 Pine Prairie Index Future CVJ 2,500 MMBtu 0.0001 $0.20 3 5 $0.02

18.A.216 Pine Prairie Swing Future CVK 2,500 MMBtu 0.0001 $4.00 3 5 $0.05
18.A.217 Socal Citygate Fixed Price Future CVL 2,500 MMBtu 0.0001 $4.00 3 5 $0.05

18.E.132 Option on Socal Citygate Fixed Price Future CVL 2,500 MMBtu 0.0001 N/A 20% of Premium FMV up to 0.05; 

Min/Max Range = 0.005/0.05

18.A.219 Tennessee Zone 1 Swing Future CVM 2,500 MMBtu 0.0001 $4.00 3 5 $0.05

18.A.220 TETCO-ELA Swing Future CVN 2,500 MMBtu 0.0001 $4.00 3 5 $0.05

18.A.221 TETCO-WLA Index Future CVO 2,500 MMBtu 0.0001 $0.20 3 5 $0.02

18.A.222 TETCO-WLA Swing Future CVP 2,500 MMBtu 0.0001 $4.00 3 5 $0.05

18.A.225 Transco Station 30 (Zone 1) Index Future CVS 2,500 MMBtu 0.0001 $0.20 3 5 $0.02

18.A.226 Transco Station 30 (Zone 1) Swing Future CVT 2,500 MMBtu 0.0001 $4.00 3 5 $0.05

18.A.227 Trunkline Zone 1A Index Future CVU 2,500 MMBtu 0.0001 $0.20 3 5 $0.02

18.A.228 Trunkline Zone 1A Swing Future CVV 2,500 MMBtu 0.0001 $4.00 3 5 $0.05

18.A.229 Union Dawn Index Future CVW 2,500 MMBtu 0.0001 $0.20 3 5 $0.02

18.A.230 Union Dawn Swing Future CVX 2,500 MMBtu 0.0001 $4.00 3 5 $0.05

19.G.7 Ethylene Choctaw, IHS Future CVY 100,000 lbs 0.00001 $0.125 3 5 $0.0050

18.E.129 Option on MISO Indiana Hub Day-Ahead Peak Daily Fixed Price Future MDA 800 MWh 0.01 N/A 20% of Premium FMV up to 5.00; 

Min/Max Range = 0.50/5.00

18.E.130 Option on PJM AEP Dayton Hub Day-Ahead Peak Daily Fixed Price Future ADA 16 MWh 0.01 N/A 20% of Premium FMV up to 5.00; 

Min/Max Range = 0.50/5.00

18.E.131 Option on PJM NI Hub Day-Ahead Peak Daily Fixed Price Future NIA 16 MWh 0.01 N/A 20% of Premium FMV up to 5.00; 

Min/Max Range = 0.50/5.00

19.A.36 Crude Outright - Permian WTI 1st Line Future HOO 1,000 bbl 0.001 $6.25 3 5 $0.2500

19.F.34 Crude Outright - Permian WTI Average Price Option HOO 1,000 bbl 0.001 N/A 25% of Premium; Min/Max Range 

= 0.1000/1.00

19.C.108 Condensate Diff - ICE C5 1a PEA Index Future CEG 1,000 bbl 0.0001 $6.25 3 5 $0.2500

19.C.109 Condensate Diff - ICE C5 1a ENB Index Future CEH 1,000 bbl 0.0001 $6.25 3 5 $0.2500

19.A.37 Biodiesel Outright - Argus Houston Methanol Future BOM 100 mt 0.001 $18.75 3 5 $0.7500

19.B.15 Fuel Oil Crack - USGC Marine Fuel 0.5% Houston (Platts) vs Brent 1st Line 

Future FOQ 1,000 bbl 0.001 $6.25 3 5 $0.2500

19.C.110

Fuel Oil Diff - USGC Marine Fuel 0.5% Houston (Platts) vs 3.5% FOB 

Rotterdam Barges (Platts) Future (in Bbls) FOR 1,000 bbl 0.001 $6.25 3 5 $0.2500

18.B.346 PJM Western Hub Real-Time Peak Daily Mini Fixed Price Future PWA 16 MWh 0.01 $120.00 3 5 $5.00

18.B.347 ERCOT North 345KV Hub Real-Time Peak Daily Mini Fixed Price Future ERA 16 MWh 0.01 $120.00 3 5 $5.00

[1] The minimum fluctuation for the above futures and options contracts may differ depending on trade type.
Resolution No. 1 - Minimum Price Fluctuation Table

The following minimum price fluctuations shall be applicable to Energy Contracts.

Rule 

Number Product

Minimum Price 

Fluctuations

Screen

Blocks 

and 

other 

trades 

outside 

the 

central 

limit 

order 

book

* * *

18.D.051 California Carbon Offset Future 0.01 0.01

18.D.005 Cross State Air Pollution TR NOx Annual Allowance Vintage 2019 Future 0.01 0.01

18.D.028 Cross State Air Pollution Rule NOx Ozone Season Group 2 Allowance Future Vintage 2019 0.01 0.01

18.D.007 Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future 0.01 0.01

18.D.008 Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future 0.01 0.01

18.D.011 Regional Greenhouse Gas Initiative Vintage 2022 Future 0.01 0.01

18.E.059 Option on Cross State Air Pollution TR NOx Annual Allowance Vintage 2019 Future 0.01 0.01

18.E.060 Option on Cross State Air Pollution Rule NOx Ozone Season Group 2 Allowance Futu re Vintage 2019 0.01 0.01

18.E.061 Option on Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future 0.01 0.01

18.E.062 Option on Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future 0.01 0.01

18.E.047 Option on Regional Greenhouse Gas Initiative Future Vintage 2022 0.01 0.01

18.E.127 Option on NEPOOL Dual Qualified Compliance Renewable Energy Certificate Class I Future 0.01 0.01

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 Vintage 2018 Future 0.01 0.01

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 Vintage 2019 Future 0.01 0.01

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 Vintage 2020 Future 0.01 0.01

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 Vintage 2021 Future 0.01 0.01

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 Vintage 2022 Future 0.01 0.01

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 Vintage 2023 Future 0.01 0.01

18.A.231 CG Onshore Index Future 0.0001 0.0001

18.A.232 CG Onshore Swing Future 0.0001 0.0001

18.A.233 Pine Prairie Basis Future 0.0001 0.0001

18.A.215 Pine Prairie Index Future 0.0001 0.0001

18.A.216 Pine Prairie Swing Future 0.0001 0.0001

18.A.217 Socal Citygate Fixed Price Future 0.0001 0.0001

18.E.132 Option on Socal Citygate Fixed Price Future 0.0001 0.0001

18.A.219 Tennessee Zone 1 Swing Future 0.0001 0.0001

18.A.220 TETCO-ELA Swing Future 0.0001 0.0001

18.A.221 TETCO-WLA Index Future 0.0001 0.0001

18.A.222 TETCO-WLA Swing Future 0.0001 0.0001

18.A.225 Transco Station 30 (Zone 1) Index Future 0.0001 0.0001

18.A.226 Transco Station 30 (Zone 1) Swing Future 0.0001 0.0001
18.A.227 Trunkline Zone 1A Index Future 0.0001 0.0001

18.A.228 Trunkline Zone 1A Swing Future 0.0001 0.0001

18.A.229 Union Dawn Index Future 0.0001 0.0001

18.A.230 Union Dawn Swing Future 0.0001 0.0001

18.E.129 Option on MISO Indiana Hub Day-Ahead Peak Daily Fixed Price Future 0.01 0.01

18.E.130 Option on PJM AEP Dayton Hub Day-Ahead Peak Daily Fixed Price Future 0.01 0.01

18.E.131 Option on PJM NI Hub Day-Ahead Peak Daily Fixed Price Future 0.01 0.01

18.B.346 PJM Western Hub Real-Time Peak Daily Mini Fixed Price Future 0.01 0.01

18.B.347 ERCOT North 345KV Hub Real-Time Peak Daily Mini Fixed Price Future 0.01 0.01

* * *
Resolution No. 1 - Minimum Price Fluctuation Table

The following minimum price fluctuations shall be applicable to Oil Contracts.

Rule Number Product

Minimum Price 

Fluctuations

Screen

Blocks and 

other trades 

outside the 

central limit 

order book

* * *

19.G.7 Ethylene Choctaw, IHS Future 0.00001 0.00001

19.A.36 Crude Outright - Permian WTI 1st Line Future 0.001 0.01

19.F.34 Crude Outright - Permian WTI 1st Line Average Price Option 0.001 0.001

19.C.108 Condensate Diff - ICE C5 1a PEA Index Future 0.0001 0.01

19.C.109 Condensate Diff - ICE C5 1a ENB Index Future 0.0001 0.01

19.A.37 Biodiesel Outright - Argus Houston Methanol Future 0.001 0.001

19.B.15 Fuel Oil Crack - USGC Marine Fuel 0.5% Houston (Platts) vs Brent 1st Line 

Future 0.001 0.001

19.C.110

Fuel Oil Diff - USGC Marine Fuel 0.5% Houston (Platts) vs 3.5% FOB 

Rotterdam Barges (Platts) Future (in Bbls) 0.001 0.001

* * *
Resolution No. 2 – Position Limit/Accountability Table

Rule Contract Name

Commodity 

Code

Contract 

Size Unit of Trading

Spot 

Month 

Limit

Single Month 

Accountability 

Lev el

All Month 

Accountability 

Lev el

Aggregate 

1 (Positiv e 

Correlation)

Aggregate

2 (Negativ e 

Correlation)

Exchange 

Reportable 

Lev el

18.D.051 California Carbon Offset Future CCO 1,000 Carbon Offsets 9,000 9,000 9,000 CCO 25

18.D.005 Cross State Air Pollution TR NOx Annual Allowance Vintage 2019 Future NAR 25 Allowances 6,000 6,000 6,000 NAR 25

18.D.028 Cross State Air Pollution Rule NOx Ozone Season Group 2 Allowance Future 

Vintage 2019 NOU 25 Allowances 4,000 4,000 4,000 NOU 25

18.D.007 Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future - Vintage 

2019 SOT 25 Allowances 10,000 10,000 10,000 SOT 25

18.D.008 Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future - Vintage 

2019 STR 25 Allowances 5,000 5,000 5,000 STR 25

18.D.011 Regional Greenhouse Gas Initiative Vintage 2022 Future RGU 1,000 Allowances 25,000 25,000 25,000 RGU 25

18.E.059 Option on Cross State Air Pollution TR NOx Annual Allowance Vintage 2019 

Future NAR 25 Allowances 6,000 6,000 6,000 NAR 25

18.E.060 Option on Cross State Air Pollution Rule NOx Ozone Season Group 2 

Allowance Future Vintage 2019 NOU 25 Allowances 4,000 4,000 4,000 NOU 25

18.E.061 Option on Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future SOT 25 Allowances 10,000 10,000 10,000 SOT 25

18.E.062 Option on Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future STR 25 Allowances 5,000 5,000 5,000 STR 25

18.E.047 Option on Regional Greenhouse Gas Initiative Future Vintage 2022 RGU 1,000 Allowances 25,000 25,000 25,000 RGU 25

18.E.127 Option on NEPOOL Dual Qualified Compliance Renewable Energy Certificate 

Class I Future NER 100 MWh 15,000 15,000 15,000 NER 25

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2018 Future NE8 100 MWh 15,000 15,000 15,000 NER 25

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2019 Future NE9 100 MWh 15,000 15,000 15,000 NER 25

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2020 Future NE0 100 MWh 15,000 15,000 15,000 NER 25

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2021 Future NE1 100 MWh 15,000 15,000 15,000 NER 25

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2022 Future NE2 100 MWh 15,000 15,000 15,000 NER 25

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 

Vintage 2023 Future NE3 100 MWh 15,000 15,000 15,000 NER 25

18.A.231 CG Onshore Index Future CVG 2,500 MMBtu 9,500 10,000 10,000 CVH CON 25

18.A.232 CG Onshore Swing Future CVH 2,500 MMBtu 9,500 10,000 10,000 CVH 1

18.A.233 Pine Prairie Basis Future CVI 2,500 MMBtu 10,300 10,300 10,300 CVI 25

18.A.215 Pine Prairie Index Future CVJ 2,500 MMBtu 10,300 10,300 10,300 CVK CVI 25
18.A.216 Pine Prairie Swing Future CVK 2,500 MMBtu 10,300 10,300 10,300 CVK 1

18.A.217 Socal Citygate Fixed Price Future CVL 2,500 MMBtu 2,000 5,000 10,000 SCB 25

18.E.132 Option on Socal Citygate Fixed Price Future CVL 2,500 MMBtu 2,000 5,000 10,000 SCB 25

18.A.219 Tennessee Zone 1 Swing Future CVM 2,500 MMBtu 28,600 28,600 28,600 CVM 1

18.A.220 TETCO-ELA Swing Future CVN 2,500 MMBtu 7,300 10,000 10,000 CVN 1

18.A.084 TETCO ELA Index Future TEI 2,500 MMBtu 7,300/7,300 10,000/10,000 10,000/10,000 CVN TEB 25

18.A.221 TETCO-WLA Index Future CVO 2,500 MMBtu 5,600 5,600 5,600 CVP TWB 25

18.A.222 TETCO-WLA Swing Future CVP 2,500 MMBtu 5,600 5,600 5,600 CVP 1

18.A.225 Transco Station 30 (Zone 1) Index Future CVS 2,500 MMBtu 4,000 5,000 5,000 CVT CVS 25

18.A.226 Transco Station 30 (Zone 1) Swing Future CVT 2,500 MMBtu 4,000 5,000 5,000 CVT 1

18.A.227 Trunkline Zone 1A Index Future CVU 2,500 MMBtu 10,200 10,200 10,200 CVV TZA 25

18.A.228 Trunkline Zone 1A Swing Future CVV 2,500 MMBtu 10,200 10,200 10,200 CVV 1

18.A.229 Union Dawn Index Future CVW 2,500 MMBtu 12,800 12,800 12,800 CVX DWN 25

18.A.230 Union Dawn Swing Future CVX 2,500 MMBtu 12,800 12,800 12,800 CVX 1

19.G.7 Ethylene Choctaw, IHS Future CVY 100,000 lbs 600 600 600 CVY 25

18.E.129 Option on MISO Indiana Hub Day-Ahead Peak Daily Fixed Price Future MDA 800 MWh 808 1,500 2,500 MCC 1

18.E.130 Option on PJM AEP Dayton Hub Day-Ahead Peak Daily Fixed Price Future ADA 16 MWh 147,651 147,651 147,651 ADB 1

18.E.131 Option on PJM NI Hub Day-Ahead Peak Daily Fixed Price Future NIA 16 MWh 135,000 135,000 187,500 NIB 1

19.A.36 Crude Outright - Permian WTI 1st Line Future HOO 1,000 bbl 5,900 5,900 5,900 HOO 25

19.F.34 Crude Outright - Permian WTI Average Price Option HOO 1,000 bbl 5,900 5,900 5,900 HOO 25

19.C.108 Condensate Diff - ICE C5 1a PEA Index Future CEG 1,000 bbl 10,400 10,400 10,400 CEG 25

19.C.109 Condensate Diff - ICE C5 1a ENB Index Future CEH 1,000 bbl 10,400 10,400 10,400 CEH 25

19.A.37 Biodiesel Outright - Argus Houston Methanol Future BOM 100 mt 1,600 1,600 1,600 BOM 25

19.B.15 Fuel Oil Crack - USGC Marine Fuel 0.5% Houston (Platts) vs Brent 1st Line 

Future FOQ 1,000 bbl 1,000 1,000 1,000 FOQ 25

19.C.110

Fuel Oil Diff - USGC Marine Fuel 0.5% Houston (Platts) vs 3.5% FOB 

Rotterdam Barges (Platts) Future (in Bbls) FOR 1,000 bbl 1,000 1,000 1,000 FOR 25

18.B.346 PJM Western Hub Real-Time Peak Daily Mini Fixed Price Future PWA 16 MWh 187,500 250,000 750,000 PJM 1

18.B.347 ERCOT North 345KV Hub Real-Time Peak Daily Mini Fixed Price Future ERA 16 MWh 150,000 150,000 250,000 ERN 1
17

SUBCHAPTER 18A -NATURAL GAS FUTURES CONTRACTS 

* * *

18.A.215 Pine Prairie Index Future

18.A.216 Pine Prairie Swing Future

18.A.217 Socal Citygate Fixed Price Future

18.A.219 Tennessee Zone 1 Swing Future

18.A.220 TETCO-ELA Swing Future

18.A.221 TETCO-WLA Index Future

18.A.222 TETCO-WLA Swing Future

18.A.223; Reserved

18.A.224; Reserved

18.A.225 Transco Station 30 (Zone 1) Index Future

18.A.226 Transco Station 30 (Zone 1) Swing Future

18.A.227 Trunkline Zone 1A Index Future

18.A.228 Trunkline Zone 1A Swing Future

18.A.229 Union Dawn Index Future

18.A.230 Union Dawn Swing Future

18.A.231 CG Onshore Index Future

18.A.232 CG Onshore Swing Future

18.A.233 Pine Prairie Basis Future

* * *
18

18.A.215 Pine Prairie Index Future

Description:A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting 

the monthly price published by Inside FERC, as defined in Reference Price B, from the average of the daily prices 

published by Gas Daily, as defined in Reference Price A.

Contract Symbol: CVJ

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 120 consecutive monthly Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The last Business Day prior to the first calendar day of the Contract Period

Final Settlement: Average of the Reference Price A prices minus Reference Price B

REFERENCE PRICE A: NATURAL GAS-PINE PRAIRIE-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-PINE PRAIRIE-GAS DAILY" means that the price for a 

Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Final Daily Gas Indices ($/MMBtu): 

Louisiana/Southeast, ICE Pine Prairie Hub: Midpoint” in the issue of Gas Daily that reports prices effective 

on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Each calendar day in the Contract Period

REFERENCE PRICE B: NATURAL GAS-PINE PRAIRIE-INSIDE-FERC

a) Ref Price B -Description: “NATURAL GAS-PINE PRAIRIE-INSIDE-FERC” means that the price for a 

Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Monthly Bidweek Spot Gas Prices ($/MMBtu): 

Louisiana/Southeast: ICE Pine Prairie Hub: Index" in the issue of Inside FERC that reports prices effective 

on that Pricing Date.

b) Ref Price B -Pricing Date:First publication date of Contract Period

c) Ref Price B -Specified Price:Index

d) Ref Price B -Pricing calendar:Inside FERC

e) Ref Price B -Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.
19

MIC Code: IFED

Clearing Venue: ICEU
20

18.A.216 Pine Prairie Swing Future

Description:A daily cash settled Exchange Futures Contract based upon the daily price published by Gas Daily for 

the location specified in Reference Price A.

Contract Symbol: CVK

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 65 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The Business Day prior to the Contract Period

Final Settlement:Reference Price A

REFERENCE PRICE A: NATURAL GAS-PINE PRAIRIE-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-PINE PRAIRIE-GAS DAILY" means that the price for a 

Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Final Daily Gas Indices ($/MMBtu): 

Louisiana/Southeast, ICE Pine Prairie Hub: Midpoint” in the issue of Gas Daily that reports prices effective 

on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED

Clearing Venue:ICEU
21

18.A.217 Socal Citygate Fixed Price Future

Description:A monthly cash settled Exchange Futures Contract based upon the monthly price published by NGI for 

the location specified in Reference Price A.

Contract Symbol: CVL

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation: The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 60 consecutive monthly Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The last Business Day prior to the first calendar day of the Contract Period

Final Settlement:Reference Price A

REFERENCE PRICE A: NATURAL GAS-CALIFORNIA (SOCAL CITYGATE)-NGI

a) Ref Price A - Description: "NATURAL GAS-CALIFORNIA (SOCAL CITYGATE)-NGI" means that the 

price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the 

Delivery Date, stated in U.S. Dollars, published under the heading "Spot Gas Prices: California: SoCal 

Citygate: avg." in the issue of NGI's Bidweek Survey that reports prices effective on that Pricing Date.

b) Ref Price A - Pricing Date:First publication date of the Contract Period

c) Ref Price A - Specified Price:Average

d) Ref Price A - Pricing calendar:NGI

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED

Clearing Venue:ICEU
22

18.A.219 Tennessee Zone 1 Swing Future

Description:A daily cash settled Exchange Futures Contract based upon the daily price published by Gas Daily for 

the location specified in Reference Price A.

Contract Symbol: CVM

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 65 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The Business Day prior to the Contract Period

Final Settlement:Reference Price A

REFERENCE PRICE A: NATURAL GAS-TENNESSEE ZONE 1-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-TENNESSEE ZONE 1-GAS DAILY" means that the price 

for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Final Daily Gas Indices ($/MMBtu): 

Louisiana/Southeast, Tennessee, zone 1: Midpoint” in the issue of Gas Daily that reports prices effective on 

that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED

Clearing Venue:ICEU
23

18.A.220 TETCO-ELA Swing Future

Description:A daily cash settled Exchange Futures Contract based upon the daily price published by Gas Daily for 

the location specified in Reference Price A.

Contract Symbol: CVN

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 65 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The Business Day prior to the Contract Period

Final Settlement:Reference Price A

REFERENCE PRICE A: NATURAL GAS-TETCO (E. LOUSIANA ZONE)-GAS DAILY

a) Ref Price A - Description: "NATURAL GAS-TETCO (E. LOUSIANA ZONE)-GAS DAILY" means that 

the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the 

Delivery Date, stated in U.S. Dollars, published under the heading "Daily Price Survey ($/MMBtu): 

Louisiana/Southeast: Tx. Eastern, ELA: Midpoint" in the issue of Gas Daily that reports prices.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED

Clearing Venue:ICEU
24

18.A.221 TETCO-WLA Index Future

Description: A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting 

the monthly price published by Inside FERC, as defined in Reference Price B, from the average of the daily prices 

published by Gas Daily, as defined in Reference Price A.

Contract Symbol: CVO

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 120 consecutive monthly Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The last Business Day prior to the first calendar day of the Contract Period

Final Settlement:Average of the Reference Price A prices minus Reference Price B

REFERENCE PRICE A: NATURAL GAS-TETCO (W. LOUISIANA ZONE)-GAS DAILY

a) Ref Price A - Description: "NATURAL GAS-TETCO (W. LOUISIANA ZONE)-GAS DAILY" means 

that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery 

on the Delivery Date, stated in U.S. Dollars, published under the heading "Daily Price Survey ($/MMBtu): 

Louisiana/Southeast: Tx. Eastern, WLA: Midpoint" in the issue of Gas Daily that reports prices.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Each calendar day in the Contract Period

REFERENCE PRICE B: NATURAL GAS-TETCO (W. LOUISIANA ZONE)-INSIDE FERC

a) Ref Price B -Description: "NATURAL GAS-TETCO (W. LOUISIANA ZONE)-INSIDE FERC” means 

that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery 

on the Delivery Date, stated in U.S. Dollars, published under the heading "Monthly Bidweek Spot Gas 

Prices ($/MMBtu): Louisiana/Southeast: Texas Eastern, WLA: Index" in the issue of Inside FERC that 

reports prices effective on that Pricing Date.

b) Ref Price B -Pricing Date:First publication date of Contract Period

c) Ref Price B -Specified Price:Index

d) Ref Price B -Pricing calendar:Inside FERC

e) Ref Price B -Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED
25

Clearing Venue:ICEU
26

18.A.222 TETCO-WLA Swing Future

Description: A daily cash settled Exchange Futures Contract based upon the daily price published by Gas Daily for 

the location specified in Reference Price A.

Contract Symbol: CVP

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 65 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The Business Day prior to the Contract Period

Final Settlement: Reference Price A

REFERENCE PRICE A: NATURAL GAS-TETCO (W. LOUISIANA ZONE)-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-TETCO (W. LOUISIANA ZONE)-GAS DAILY" means 

that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery 

on the Delivery Date, stated in U.S. Dollars, published under the heading "Daily Price Survey ($/MMBtu): 

Louisiana/Southeast: Tx. Eastern, WLA: Midpoint" in the issue of Gas Daily that reports prices.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED

Clearing Venue:ICEU
27

18.A.225 Transco Station 30 (Zone 1) Index Future

Description:A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting 

the monthly price published by Inside FERC, as defined in Reference Price B, from the average of the daily prices 

published by Gas Daily, as defined in Reference Price A.

Contract Symbol: CVS

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency: USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 120 consecutive monthly Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The last Business Day prior to the first calendar day of the Contract Period

Final Settlement:Average of the Reference Price A prices minus Reference Price B

REFERENCE PRICE A: NATURAL GAS-TRANSCO (ZONE 1)-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-TRANSCO (ZONE 1)-GAS DAILY" means that the price 

for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Daily price survey ($/MMBtu): East Texas, 

Transco, zone 1: Midpoint” in the issue of Gas Daily that reports prices effective on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Each calendar day in the Contract Period

REFERENCE PRICE B: NATURAL GAS-TRANSCO (ZONE 1)-INSIDE FERC

a) Ref Price B -Description: "NATURAL GAS-TRANSCO (ZONE 1)-INSIDE FERC" means that the price 

for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Monthly Bidweek Spot Gas Prices ($/MMBtu): 

East Texas: Transco, zone 1: Index" in the issue of Inside FERC that reports prices effective on that Pricing 

Date.

b) Ref Price B -Pricing Date:First publication date of Contract Period

c) Ref Price B -Specified Price:Index

d) Ref Price B -Pricing calendar:Inside FERC

e) Ref Price B -Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED
28

Clearing Venue:ICEU
29

18.A.226 Transco Station 30 (Zone 1) Swing Future

Description:A daily cash settled Exchange Futures Contract based upon the daily price published by Gas Daily for 

the location specified in Reference Price A.

Contract Symbol: CVT

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 65 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The Business Day prior to the Contract Period

Final Settlement:Reference Price A

REFERENCE PRICE A: NATURAL GAS-TRANSCO (ZONE 1)-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-TRANSCO (ZONE 1)-GAS DAILY" means that the price 

for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Daily price survey ($/MMBtu): East Texas, 

Transco, zone 1: Midpoint” in the issue of Gas Daily that reports prices effective on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED

Clearing Venue:ICEU
30

18.A.227 Trunkline Zone 1A Index Future

Description:A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting 

the monthly price published by Inside FERC, as defined in Reference Price B, from the average of the daily prices 

published by Gas Daily, as defined in Reference Price A.

Contract Symbol: CVU

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 120 consecutive monthly Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The last Business Day prior to the first calendar day of the Contract Period

Final Settlement:Average of the Reference Price A prices minus Reference Price B

REFERENCE PRICE A: NATURAL GAS-TRUNKLINE, ZONE 1A-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-TRUNKLINE, ZONE 1A-GAS DAILY" means that the 

price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the 

Delivery Date, stated in U.S. Dollars, published under the heading "Daily price survey ($/MMBtu): 

Louisiana/Southeast, Trunkline, zone 1A: Midpoint” in the issue of Gas Daily that reports prices effective 

on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Each calendar day in the Contract Period

REFERENCE PRICE B: NATURAL GAS-TRUNKLINE, ZONE 1A-INSIDE FERC

a) Ref Price B -Description: “NATURAL GAS-TRUNKLINE, ZONE 1A-INSIDE FERC” means that the 

price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the 

Delivery Date, stated in U.S. Dollars, published under the heading "Monthly Bidweek Spot Gas Prices 

($/MMBtu): Louisiana/Southeast: Trunkline, zone 1A: Index" in the issue of Inside FERC that reports 

prices effective on that Pricing Date.

b) Ref Price B -Pricing Date:First publication date of Contract Period

c) Ref Price B -Specified Price:Index

d) Ref Price B -Pricing calendar:Inside FERC

e) Ref Price B -Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.
31

MIC Code: IFED

Clearing Venue:ICEU
32

18.A.228 Trunkline Zone 1A Swing Future

Description:A daily cash settled Exchange Futures Contract based upon the daily price published by Gas Daily for 

the location specified in Reference Price A.

Contract Symbol: CVV

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency: USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 65 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The Business Day prior to the Contract Period

Final Settlement:Reference Price A

REFERENCE PRICE A: NATURAL GAS-TRUNKLINE, ZONE 1A-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-TRUNKLINE, ZONE 1A-GAS DAILY" means that the 

price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the 

Delivery Date, stated in U.S. Dollars, published under the heading "Daily price survey ($/MMBtu): 

Louisiana/Southeast, Trunkline, zone 1A: Midpoint” in the issue of Gas Daily that reports prices effective 

on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED

Clearing Venue:ICEU
33

18.A.229 Union Dawn Index Future

Description:A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting 

the monthly price published by Inside FERC, as defined in Reference Price B, from the average of the daily prices 

published by Gas Daily, as defined in Reference Price A.

Contract Symbol: CVW

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 120 consecutive monthly Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The last Business Day prior to the first calendar day of the Contract Period

Final Settlement:Average of the Reference Price A prices minus Reference Price B

REFERENCE PRICE A: NATURAL GAS-DAWN ONTARIO-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-DAWN ONTARIO-GAS DAILY" means that the price for 

a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Daily price survey ($/MMBtu): Upper Midwest, 

Dawn, Ontario: Midpoint” in the issue of Gas Daily that reports prices effective on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Each calendar day in the Contract Period

REFERENCE PRICE B: NATURAL GAS-DAWN ONTARIO-INSIDE FERC

a) Ref Price B -Description: "NATURALGAS-DAWN ONTARIO-INSIDE FERC" means that the price 

for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Monthly Bidweek Spot Gas Prices ($/MMBtu): 

Upper Midwest: Dawn, Ontario: Index" in the issue of Inside FERC that reports prices effective on that 

Pricing Date.

b) Ref Price B -Pricing Date: First publication date of Contract Period

c) Ref Price B -Specified Price:Index

d) Ref Price B -Pricing calendar:Inside FERC

e) Ref Price B -Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED
34

Clearing Venue:ICEU
35

18.A.230 Union Dawn Swing Future

Description:A daily cash settled Exchange Futures Contract based upon the daily price published by Gas Daily for 

the location specified in Reference Price A.

Contract Symbol: CVX

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 65 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The Business Day prior to the Contract Period

Final Settlement:Reference Price A

REFERENCE PRICE A: NATURAL GAS-DAWN ONTARIO-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-DAWN ONTARIO-GAS DAILY" means that the price for 

a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Daily price survey ($/MMBtu): Upper Midwest, 

Dawn, Ontario: Midpoint” in the issue of Gas Daily that reports prices effective on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED

Clearing Venue:ICEU
36

18.A.231 CG Onshore Index Future

Description:A monthly cash settledExchange Futures Contract based upon the mathematical result of subtracting 

the monthly price published by Inside FERC, as defined in Reference Price B, from the average of the daily prices 

published by Gas Daily, as defined in Reference Price A.

Contract Symbol: CVG

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency: USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 120 consecutive monthly Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The last Business Day prior to the first calendar day of the Contract Period

Final Settlement:Average of the Reference Price A prices minus Reference Price B

REFERENCE PRICE A: NATURAL GAS- COLUMBIA GULF (LOUISIANA)-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-COLUMBIA GULF (LOUISIANA)-GAS DAILY " means 

that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery 

on the Delivery Date, stated in U.S. Dollars, published under the heading "Daily price survey ($/MMBtu): 

Louisiana/Southeast, Columbia Gulf, La.: Midpoint" in the issue of Gas Daily that reports prices effective 

on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Each calendar day in the Contract Period

REFERENCE PRICE B NATURAL GAS-COLUMBIA GULF (LOUISIANA)-INSIDE FERC

a) Ref Price B -Description: "NATURAL GAS-COLUMBIA GULF (LOUISIANA)-INSIDE FERC" means 

that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery 

on the Delivery Date, stated in U.S. Dollars, published under the heading "Monthly Bidweek Spot Gas 

Prices ($/MMBtu): Louisiana/Southeast: Columbia Gulf, La.: Index" in the issue of Inside FERC that 

reports prices effective on that Pricing Date.

b) Ref Price B -Pricing Date: First publication date of Contract Period

c) Ref Price B -Specified Price:Index

d) Ref Price B -Pricing calendar:Inside FERC

e) Ref Price B -Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.
37

MIC Code: IFED

Clearing Venue:ICEU
38

18.A.232 CG Onshore Swing Future

Description:A daily cash settled Exchange Futures Contract based upon the daily price published by Gas Daily for 

the location specified in Reference Price A.

Contract Symbol: CVH

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 65 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The Business Day prior to the Contract Period

Final Settlement:Reference Price A

REFERENCE PRICE A: NATURAL GAS-COLUMBIA GULF (LOUISIANA)-GAS DAILY

a) Ref Price A - Description: “NATURAL GAS-COLUMBIA GULF (LOUSIANA)-GAS DAILY" means 

that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery 

on the Delivery Date, stated in U.S. Dollars, published under the heading "Daily price survey ($/MMBtu): 

Louisiana/Southeast, Columbia Gulf, La.: Midpoint" in the issue of Gas Daily that reports prices effective 

on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Midpoint

d) Ref Price A - Pricing calendar:Gas Daily

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED

Clearing Venue:ICEU
39

18.A.233 Pine Prairie Basis Future

Description:A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting 

the price of the NYMEX Henry Hub Natural Gas Futures Contract, as defined in Reference Price B, from the 

monthly price published by Inside FERC for the location specified in Reference Price A.

Contract Symbol: CVI

Settlement Method: Cash settlement

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 84 consecutive monthly Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The last Business Day prior to the first calendar day of the Contract Period

Final Settlement:Reference Price A

REFERENCE PRICE A: NATURAL GAS-PINE PRAIRIE-INSIDE-FERC

a) Ref Price A - Description: “NATURAL GAS-PINE PRAIRIE-INSIDE-FERC” means that the price for a 

Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery 

Date, stated in U.S. Dollars, published under the heading "Monthly Bidweek Spot Gas Prices ($/MMBtu): 

Louisiana/Southeast: ICE Pine Prairie Hub: Index" in the issue of Inside FERC that reports prices effective 

on that Pricing Date.

b) Ref Price A- Pricing Date:First publication date of the Contract Period

c) Ref Price A - Specified Price:Index

d) Ref Price A - Pricing calendar:Inside FERC

e) Ref Price A - Delivery Date: Contract Period

REFERENCE PRICE B: NATURAL GAS-NYMEX

a) Ref Price B -Description: "NATURAL GAS-NYMEX" means that the price for a Pricing Date will be 

that day's Specified Price per MMBtu of natural gas on the NYMEX of the Henry Hub Natural Gas Futures 

Contract for the Delivery Date, stated in U.S. Dollars, as made public by the NYMEX on that Pricing Date.

b) Ref Price B -Pricing Date:Last scheduled trading day of the NYMEX Henry Hub Natural Gas Futures 

Contract for the Delivery Date

c) Ref Price B -Specified Price:Settlement price

d) Ref Price B -Pricing calendar:NYMEX

e) Ref Price B -Delivery Date: Contract Period

Final Payment Date: The third Clearing Organization business day following the Last Trading Day.

MIC Code: IFED
40

Clearing Venue:ICEU
41

SUBCHAPTER 18B -FINANCIAL POWER FUTURES CONTRACTS

* * *

18.B.346 PJM Western Hub Real-Time PeakDaily Mini Fixed Price Future

18.B.347 ERCOT North 345KV Hub Real-Time PeakDaily Mini Fixed Price Future

* * *
42

18.B.346PJM Western Hub Real-Time Peak Daily Mini Fixed Price Future

Description:A daily cash settled Exchange Futures Contract based upon the mathematical average of peak hourly 

electricity prices published by PJM for the location specified in Reference Price A.

Contract Symbol: PWA

Settlement Method: Cash settlement

Contract Size: 16 MWh

Currency:USD

Min Price Flux: The price quotation convention shall be one cent ($0.01) per MWh; minimum price fluctuation 

may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 365 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: For Monday through Friday Contract Periods, excluding NERC holidays, if the following 

calendar day is a Business Day, the Business Day following the Contract Period with a closing time of 11:00pm 

EPT the night before; If the following calendar day is not a Business Day, the Business Day equal to the Contract 

Period with a closing time equal to the end of the Trading Session For each Saturday, Sunday, and NERC holiday 

Contract Period, the last Business Day prior to the Contract Period with a closing time equal to the end of the 

Trading Session.

Final Settlement:Reference Price A

REFERENCE PRICE A: ELECTRICITY-PJM-WESTERN HUB-REAL TIME

a) Ref Price A - Description: "ELECTRICITY-PJM-WESTERN HUB-REAL TIME" means that the price 

for a Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the Delivery 

Date, stated in U.S. Dollars, published by the PJM at http://dataminer2.pjm.com/feed/rt_hrl_lmps/definition 

under the headings "Locational Marginal Prices: Real-Time Hourly LMPS: WESTERN HUB" or any 

successor headings, that reports prices effective on that Pricing Date.

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Average of LMPs for all hours ending 0800-2300 EPT

d) Ref Price A - Pricing calendar: PJM

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The second Clearing Organization business day following the Last Trading Day

MIC Code: IFED

Clearing Venue:ICEU
43

18.B.347ERCOT North 345KV Hub Real-Time Peak Daily Mini Fixed Price Future

Description:A daily cash settled Exchange Futures Contract based upon the mathematical average of peak hourly 

electricity prices published by ERCOT for the location specified in Reference Price A.

Contract Symbol: ERA

Settlement Method: Cash Settlement

Contract Size: 16 MWh

Currency: USD

Min Price Flux: The price quotation convention shall be one cent ($0.01) per MWh; minimum price fluctuation 

may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 365 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: For Monday through Friday Contract Periods, excluding NERC holidays, if the following 

calendar day is a Business Day, the Business Day following the Contract Period with a closing time of 11:00pm 

EPT the night before; If the following calendar day is not a Business Day, the Business Day equal to the Contract 

Period with a closing time equal to the end of the Trading Session For each Saturday, Sunday, and NERC holiday 

Contract Period, the last Business Day prior to the Contract Period with a closing time equal to the end of the 

Trading Session.

Final Settlement: Reference Price A

REFERENCE PRICE A: ELECTRICITY-ERCOT-NORTH 345KV HUB-REAL TIME

a) Ref Price A - Description: "ELECTRICITY-ERCOT-NORTH 345KV HUB REAL TIME" means that the 

price for a Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the 

Delivery Date, stated in U.S. Dollars, published by the ERCOT at 

http://www.ercot.com/content/cdr/html/real_time_spp

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Average of SPPs for all hours ending 0700-2200 CPT

d) Ref Price A - Pricing calendar:ERCOT

e) Ref Price A - Delivery Date: Contract Period

Final Payment Date: The sixth Clearing Organization business day following the Last Trading Day

MIC Code: IFED

Clearing Venue:ICEU
44

SUBCHAPTER 18D-PHYSICAL ENVIRONMENTAL FUTURES CONTRACTS

* * *

18.D.005 Cross State Air Pollution TR NOx Annual Allowance Vintage 2019 Future

18.D.007 Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future

18.D.008 Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future

18.D.011 Regional Greenhouse Gas Initiative Vintage 2022 Future

18.D.028 Cross State Air Pollution Rule NOx Ozone Season Group 2 Allowance Future Vintage 2019

18.D.051 California Carbon Offset Future

* * *
45

18.D.005 Cross State Air Pollution TR NOx Annual Allowance Future

Contract Description: Physically delivered EPA Cross State Air Pollution (“CSAPR”) TR NOx Annual Trading 

Program Allowances (“U.S. EPA CSAPR TR NOx Annual Allowances”).

Contract Symbol: NAK: Vintage 2012, NAL: Vintage 2015, NAN: 2016, NAP: Vintage 2017, NAQ: Vintage

2018, NAR: Vintage 2019

Settlement Method: Physical delivery

Contract Size: 25 U.S. EPA CSAPR TR NOx Annual Allowances

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per U.S. EPA TR NOx 

Annual Allowance; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this 

Chapter 18

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Last Trading Day: Three Business Days prior to the last Business Day of the delivery month

Deliverable Spec: Allowances acceptable for delivery are those designated as U.S. EPA CSAPR TR NOx Annual 

Allowances as promulgated under CSAPR having a vintage corresponding to the specified vintage and allowances 

having a vintage of any year prior to the specified vintage-year.

Registry: CAMD ATS

MIC CODE: IFED

CLEARING VENUE: ICEU
46

18.D.007 Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future

Contract Description: Physically delivered EPA Cross State Air Pollution Rule (“CSAPR”) TR SO2 Group 1 

Trading Program Allowances (“U.S. EPA CSAPR TR SO2 Group 1 Trading Program Allowance”).

Contract Symbol: SOM: Vintage 2015, SOP: Vintage 2016, SOQ: Vintage 2017, SOR-Vintage 2018, SOT -

Vintage 2019

Settlement Method: Physical delivery

Contract Size: 25 U.S. EPA CSAPR TR SO2 Group 1 Trading Program Allowances

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per U.S. EPA CSAPR TR 

SO2 Group 1 Trading Program Allowance; minimum price fluctuation may vary by trade type. Please see Table in 

Resolution 1 to this Chapter 18

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Last Trading Day: Three Business Days prior to the last Business Day of the delivery month

Deliverable Spec: Allowances acceptable for delivery are those designated as U.S. EPA CSAPR TR SO2 Group 1 

Trading Program Allowances as promulgated under CSAPR having a vintage corresponding to the specified vintage 

and allowances having a vintage of any year prior to the specified vintage-year.

Registry: CAMD ATS

MIC CODE: IFED

CLEARING VENUE: ICEU
47

18.D.008 Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future

Contract Description: Physically delivered EPA Cross State Air Pollution Rule (“CSAPR”) TR SO2 Group 2 

Trading Program Allowances (“U.S. EPA CSAPR TR SO2 Group 2 Trading Program Allowance”).

Contract Symbol: STK, STL: Vintage 2015, STN: Vintage 2016, STP: Vintage 2017, STQ: Vintage

2018, STR - Vintage 2019

Settlement Method: Physical delivery

Contract Size: 25 U.S. EPA CSAPR TR SO2 Group 2 Trading Program Allowances

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per U.S. EPA CSAPR TR 

SO2 Group 2 Trading Program Allowance; minimum price fluctuation may vary by trade type. Please see Table in 

Resolution 1 to this Chapter 18

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Last Trading Day: Three Business Days prior to the last Business Day of the delivery month

Deliverable Spec: Allowances acceptable for delivery are those designated as U.S. EPA CSAPR TR SO2 Group 2 

Trading Program:Allowances as promulgated under CSAPR having a vintage corresponding to the specified 

vintage and allowances having a vintage of any year prior to the specified vintage-year.

Registry:CAMD ATS

MIC CODE: IFED

CLEARING VENUE: ICEU
48

18.D.011 Regional Greenhouse Gas Initiative Future

Contract Description:Monthly physically delivered contract on Regional Greenhouse Gas Initiative ("RGGI") 

CO2 allowances ("RGGI CO2 Allowances").

Contract Symbol: Vintage 2013: RGL, Vintage 2014: RGM, Vintage 2015: RGN, Vintage 2016:RGO, 

Vintage 2017: RGP, Vintage 2018: RGQ, Vintage 2019: RGR, Vintage 2020: RGS, 

Vintage 2021: RGT, Vintage 2022: RGU

Settlement Method: Physical delivery

Contract Size: 1,000 RGGI CO2 Allowances

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per RGGI CO2 Allowance; 

minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Last Trading Day: Three Business Days prior to the last Business Day of the delivery month

Deliverable Instruments:The deliverable instruments are RGGI CO2 Allowances equal to the contract size 

delivered through the RGGI CO2 Allowance Tracking System (“RGGI-COATS”).

1. Contracts with a control period specific vintage: RGGI CO2 Allowances acceptable for delivery 

are those having a vintage usable for compliance in the control period associated with the calendar 

year of the contract expiration or RGGI CO2 Allowances having a vintage usable for compliance 

in any prior control period.

2. For vintages 2009, 2010, 2011, and 2012: RGGI CO2 Allowances acceptable for delivery are 

RGGI CO2 Allowances having a vintage corresponding to the specified vintage-year.

For Vintage 2013 and later vintages, RGGI CO2 Allowances acceptable for delivery are RGGI 

CO2 Allowances having a vintage corresponding to the specified vintage-year and allowances 

having a vintage of any year prior to the specified vintage-year.

Registry:RGGI-COATS

MIC Code: IFED

Clearing Venue:ICEU
49

18.D.028 Cross State Air Pollution Rule NOx Ozone Season Group 2 Allowance Future Vintage 2019

Contract Description: Physically delivered EPA Cross State Air Pollution Rule (“CSAPR”) Group 2 NOx Ozone 

Season Trading Program Allowances (“U.S. EPA CSAPR Group 2 NOx Ozone Season Trading Program 

Allowance”).

Contract Symbol: NOS: Vintage 2017, NOT: Vintage 2018, NOU: Vintage 2019

Settlement Method: Physical delivery

Contract Size: 25 U.S. EPA CSAPR Group 2 NOx Ozone Season Allowances

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per U.S. EPA Group 2 

NOx Ozone Season Allowance; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 

to this Chapter 18

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Last Trading Day: Three Business Days prior to the last Business Day of the delivery month

Deliverable Spec: Allowances acceptable for delivery are those designated as U.S. EPA CSAPR Group 2 NOx 

Ozone Season Trading Program Allowances as promulgated under the CSAPR Update having a vintage 

corresponding to the specified vintage of the expiring contract.

Registry:CAMD ATS

MIC CODE: IFED

CLEARING VENUE: ICEU
50

18.D.051 California Carbon Offset Future

Contract Description: Physically delivered California Air Resources Board greenhouse gas emissions offset credits 

where each is an certificate issued by the California Air Resources Board representing one metric ton equivalent of 

greenhouse gas (GHG) emission reduction or removals enhancements achieved under California Assembly Bill 32 

"California Global Warming Solutions Act of 2006" and its associated regulations, rules and amendments, all 

together known as the "California Cap and Trade Program".

Contract Symbol: CCO

Settlement Method: Physical Delivery

Contract Size: 1,000 California Carbon Offsets

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per Offset; minimum price 

fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Last Trading Day: Three Business Days prior to the last Business Day of the delivery month. 

Deliverable Instruments:The deliverable instruments are California Carbon Offsets equal to the contract size 

delivered through the California MTS. 

California Carbon Offsets acceptable for delivery are those issued by the California Air Resources Board 

representing one metric ton equivalent of greenhouse gas emission reduction or removals enhancement achieved 

under California Assembly Bill 32 "California Global Warming Solutions Act of 2006" and its associated 

regulations, rules and amendments, all together known as the "California Cap and Trade Program". Any individual 

offset or series of offsets acceptable for delivery are those that are beyond the risk of invalidation, specifically where 

the Last Delivery Date of the futures contract is greater than the Invalidation Timeframe added to the Start of 

Invalidation Period (i.e.: Last Delivery Date > Invalidation Timeframe + Start of Invalidation Timeframe) as stated 

on the California Air Resource Board’s website at the time of delivery.

Any available vintage of offset meeting these criteria is deliverable.

MIC Code: IFED

Clearing Venue:ICEU

Registry:California MTS
51

SUBCHAPTER 18E - ENERGY OPTIONS CONTRACTS

* * *

18.E.047 Option on Regional Greenhouse Gas Initiative Future Vintage 2022

18.E.059 Option on Cross State Air Pollution TR NOx Annual Allowance Vintage 2019 Future

18.E.060 Option on Cross State Air Pollution Rule NOx Ozone Season Group 2 Allowance Future Vintage 2019

18.E.061 Option on Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future

18.E.062 Option on Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future

18.E.127 Option on NEPOOL Dual Qualified Compliance Renewable Energy Certificate Class I Future

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 Future

18.E.129 Option on MISO Indiana Hub Day-Ahead Peak Daily Fixed Price Future

18.E.130 Option on PJM AEP Dayton Hub Day-Ahead Peak Daily Fixed Price Future

18.E.131 Option on PJM NI Hub Day-Ahead Peak Daily Fixed Price Future

18.E.132 Option on Socal Citygate Fixed Price Future

* * *
52

18.E.047 Option on Regional Greenhouse Gas Initiative Future

Contract Description:An Option on the corresponding month of the Regional Greenhouse Gas Initiative Future

Contract Symbol: Vintage 2013: RGL Vintage 2014: RGM, Vintage 2015: RGN, Vintage 2016: RGO,

Vintage 2017: RGP, Vintage 2018: RGQ, Vintage 2019: RGR, Vintage 2020: RGS,

Vintage 2021: RGT, RGU Vintage 2022

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 1 Regional Greenhouse Gas Initiative Futures Contract

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per RGGI CO2 Allowance; 

minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Strike Price Intervals: A minimum of ten Strike Prices in increments of $0.05 above and below the at-the-money 

Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices 

are allowed in $0.05 increments

Last Trading Day: At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is 

not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the 

delivery month.

Option Style:European

Exercise Method: Automatic

Exercise procedure:Clearing Members shall provide exercise and abandon instructions to the Clearing 

Organization in accordance with the Clearing Organization rules

Exercise time: 5:30 pm EPT on the Last Trading Day

MIC Code: IFED

Clearing Venue:ICEU
53

18.E.059 Option on Cross State Air Pollution TR NOx Annual Allowance Future - Vintage 2015 and After

Contract Description:An Option on the corresponding month of the Cross State Air Pollution TR NOx Annual 

Allowance Vintage 2019 Future

Contract Symbol: NAL: Vintage 2015, NAN: Vintage 2016, NAR: Vintage 2019

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 1 Cross State Air Pollution TR NOx Annual Allowance Future

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per Allowance; minimum 

price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Strike Price Intervals: A minimum of ten Strike Prices in increments of $1.00 above and below the at-the-money 

Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices 

are allowed in $0.25 increments

Last Trading Day: At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is 

not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the 

delivery month.

Option Style:European

Exercise Method: Automatic

Exercise procedure:Clearing Members shall provide exercise and abandon instructions to the Clearing 

Organization in accordance with theClearing Organization rules

Exercise time: 5:30 pm EPT on the Last Trading Day

MIC Code: IFED

Clearing Venue:ICEU
54

18.E.060 Option on Cross State Air Pollution Rule TR NOx Ozone Season Allowance Future - Vintage 2015

and After

Contract Description:An Option on the corresponding month of the Cross State Air Pollution Rule Group 2 NOx 

Ozone Season Allowance Future.

Contract Symbol: NON: Vintage 2015, NOO: Vintage 2016, NOU: Vintage 2019

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 1 Cross State Air Pollution Rule Group 2 NOx Ozone Season Allowance Future Contract

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per Allowance; minimum 

price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Strike Price Intervals:A minimum of ten Strike Prices in increments of $1.00 above and below the at-the-money 

Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices 

are allowed in $0.25 increments

Last Trading Day: At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is 

not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the 

delivery month.

Option Style:European

Exercise Method: Automatic

Exercise procedure:Clearing Members shall provide exercise and abandon instructions to the Clearing 

Organization in accordance with the Clearing Organization rules

Exercise time: 5:30 pm EPT on the Last Trading Day

MIC Code: IFED

Clearing Venue:ICEU
55

18.E.061 Option on Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future - Vintage 2015 and

After

Contract Description:An Option on the corresponding month of the Cross State Air Pollution Rule TR SO2 Group 

1 Allowance Future

Contract Symbol: SOM: Vintage 2015, SOP: Vintage 2016, SOT: Vintage 2019

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 1 Cross State Air Pollution Rule TR SO2 Group 1 Allowance Future Contract

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per Allowance; minimum 

price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Strike Price Intervals: A minimum of ten Strike Prices in increments of $1.00 above and below the at-the-money 

Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices 

are allowed in $0.25 increments

Last Trading Day: At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is 

not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the 

delivery month.

Option Style:European

Exercise Method: Automatic

Exercise procedure:Clearing Members shall provide exercise and abandon instructions to the Clearing 

Organization in accordance with the Clearing Organization rules

Exercise time: 5:30 pm EPT on the Last Trading Day

MIC Code: IFED

Clearing Venue:ICEU
56

18.E.062 Option on Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future - Vintage 2015 and

After

Contract Description:An Option on the corresponding month of the Cross State Air Pollution Rule TR SO2 Group 

2 Allowance Future 

Contract Symbol: STL: Vintage 2015, STN: Vintage 2016, STR: Vintage 2019

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 1 Cross State Air Pollution Rule TR SO2 Group 2 Allowance Future Contract

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per Allowance; minimum 

price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: 1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it 

determines for the current year and forward for up to ten years. 

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, 

October, November and December

Strike Price Intervals: A minimum of ten Strike Prices in increments of $1.00 above and below the at-the-money 

Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices 

are allowed in $0.25 increments

Last Trading Day: At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is 

not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the 

delivery month.

Option Style:European

Exercise Method: Automatic

Exercise Procedure:Clearing Members shall provide exercise and abandon instructions to the Clearing 

Organization in accordance with the Clearing Organization rules

Exercise Time: 5:30 pm EPT on the Last Trading Day

MIC Code: IFED

Clearing Venue:ICEU
57

18.E.127 Option on NEPOOL Dual Qualified Compliance Renewable Energy Certificate Class I Future

Contract Description:An option on the corresponding month of the NEPOOL Dual Qualified Compliance 

Renewable Energy Certificate Class I Future.

Contract Symbol: NER

Settlement Method: Exercise into underlying Futures Contract

Contract Size: 1 NEPOOL Dual Qualified Compliance Renewable Energy Certificate Class I Future contract

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per MWh; minimum price 

fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Strike Price Intervals: A minimum of ten Strike Prices in increments of $0.25 above and below the at-the-money 

Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices 

are allowed in $0.25 increments.

Listing Cycle: 1. Standard-cycle contract listings: Monthly contract sets through the current Year and forward up 

to 10 consecutive Years.

2. The Exchange may list any other calendar month contract set off the standard-cycle listing 

schedule through the last expiring contract set.

Last Trading Day: At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is 

not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the 

delivery month.

Exercise Time: 5:30EPT on the Last Trading Day

Registry:NEPOOL GIS

MIC CODE: IFED

CLEARING VENUE: ICEU
58

18.E.128 Option on NEPOOL Dual Qualified Renewable Energy Certificate Class 1 Vintage 2018 Future

Contract Description:An option on the corresponding month and vintage of the NEPOOL Dual Qualified 

Renewable Energy Certificate Class 1 Future.

Contract Symbol: Vintage 2018: NE8, Vintage 2019: NE9, Vintage 2020: NE0, Vintage 2021: NE1, 

Vintage 2022: NE2, Vintage 2023: NE3

Settlement Method: Exercise into underlying Futures Contract

Contract Size: 1 NEPOOL Dual Qualified Renewable Energy Certificate Class 1 Vintage Future contract

Currency: USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per MWh; minimum price 

fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Strike Price Intervals: A minimum of ten Strike Prices in increments of $0.25 above and below the at-the-money 

Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices 

are allowed in $0.25 increments.

Listing Cycle: 1. Standard-cycle contract listings: Monthly contract sets through the current Year and forward up 

to 10 consecutive Years.

2. The Exchange may list any other calendar month contract set off the standard-cycle listing 

schedule through the last expiring contract set.

Last Trading Day: At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is 

not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the 

delivery month.

Exercise Time: 5:30EPT on the Last Trading Day

Registry:NEPOOL GIS

MIC CODE: IFED

CLEARING VENUE: ICEU
59

18.E.129 Option on MISO Indiana Hub Day-Ahead Peak Daily Fixed Price Future

Description:A daily Option on the corresponding Contract Period of the MISO Indiana Hub Day-Ahead Peak 

Daily Fixed Price Future

Contract Symbol: MDA

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 800 MWh

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per MWh; minimum price 

fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 38 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: At the end of the Trading Session on the Last Business Day prior to the Contract Period

Options Style:European

Exercise Method: Automatic Only

Exercise Procedure:Manual exercise or abandon is not permitted

Exercise Day: The third Clearing Organization business day following the Last Trading Day

Automatic Exercise Provisions: Options which are "in the money", with respect to the average of the Reference 

Price A prices, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike 

Price. Options which are "out of the money" expire automatically.

REFERENCE PRICE A: ELECTRICITY-MISO-INDIANA HUB-DAY AHEAD

a) Ref Price A - Description: “ELECTRICITY-MISO-INDIANA HUB AHEAD” means that the price for a 

Pricing Date will be that day’s Specified Price per MWh of electricity for Delivery on the Delivery Date, 

stated in U.S. Dollars, published by the MISO at https://www.misoenergy.org/markets-andoperations/market-reports , under the Headings “Day-Ahead Pricing”or any successor headings, that reports 

Prices effective on the Pricing Date

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Average of LMPs for all hours ending 0800-2300 EPT

d) Ref Price A - Pricing calendar:MISO

e) Ref Price A - Delivery Date: Contract Period

Strike Price Intervals: A minimum of ten Strike Prices in increments of $0.50 per MWh above and below the atthe-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined 

Strike Prices are allowed in $0.05 increments.

MIC Code: IFED

Clearing Venue:ICEU
60

18.E.130 Option on PJM AEP Dayton Hub Day-Ahead Peak Daily Fixed Price Future

Description:A daily Option on the corresponding Contract Period of the PJM AEP Dayton Hub Day-Ahead Peak 

Daily Fixed Price Future

Contract Symbol: ADA

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 16 MWh

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per MWh; minimum price 

fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 38 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: At the end of the Trading Session on the Last Business Day prior to the Contract Period

Options Style: European

Exercise Method: Automatic Only

Exercise Procedure:Manual exercise or abandon is not permitted

Exercise Day: The third Clearing Organization business day following the Last Trading Day

Automatic Exercise Provisions: Options which are "in the money", with respect to the average of the Reference 

Price A prices, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike 

Price. Options which are "out of the money" expire automatically.

REFERENCE PRICE A: ELECTRICITY-PJM-AEP DAYTON HUB-DAY AHEAD

a) Ref Price A - Description: “ELECTRICITY-PJM-AEP DAYTON HUB-DAY AHEAD” means that the 

price for a Pricing Date will be that day’s Specified Price per MWh of electricity for Delivery on the 

Delivery Date, stated in U.S. Dollars, published by the PJM at https://www.pjm.com/markets-andoperations/etools/data-miner-2.aspx, under the Headings “Daily Day-Ahead Locational Marginal Pricing 

(LMP): LMP Day-Ahead Data: AEP-DAYTON HUB” or any successor headings, that reports Prices 

effective on the Pricing Date

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Average of LMPs for all hours ending 0800-2300 EPT

d) Ref Price A - Pricing calendar: PJM

e) Ref Price A - Delivery Date: Contract Period

Strike Price Intervals: A minimum of ten Strike Prices in increments of $0.50 per MWh above and below the atthe-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined 

Strike Prices are allowed in $0.05 increments.

MIC Code: IFED

Clearing Venue:ICEU
61

18.E.131 Option on PJM NI Hub Day-Ahead Peak Daily Fixed Price Future

Description:A daily Option on the corresponding Contract Period of the PJM NI Hub Day-Ahead Peak Daily Fixed 

Price Future

Contract Symbol: NIA

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 16 MWh

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One cent ($0.01) per MWh; minimum price 

fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle:Up to 38 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: At the end of the Trading Session on the Last Business Day prior to the Contract Period

Options Style:European

Exercise Method: Automatic Only

Exercise Procedure:Manual exercise or abandon is not permitted

Exercise Day: The third Clearing Organization business day following the Last Trading Day

Automatic Exercise Provisions: Options which are "in the money", with respect to the average of the Reference 

Price A prices, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike 

Price. Options which are "out of the money" expire automatically.

REFERENCE PRICE A: ELECTRICITY-PJM-NORTHERN ILLINOS HUB-DAY AHEAD

a) Ref Price A - Description: “ELECTRICITY-PJM-NORTHERN ILLINOIS HUB HUB-DAY AHEAD” 

means that the price for a Pricing Date will be that day’s Specified Price per MWh of electricity for 

Delivery on the Delivery Date, stated in U.S. Dollars, published by the PJM at 

https://www.pjm.com/markets-and-operations/etools/data-miner-2.aspx, under the Headings “Daily DayAhead Locational Marginal Pricing (LMP): LMP Day-Ahead Data: N ILLINOIS HUB” or any successor 

headings, that reports Prices effective on the Pricing Date

b) Ref Price A - Pricing Date:Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price:Average of LMPs for all hours ending 0800-2300 EPT

d) Ref Price A - Pricing calendar: PJM

e) Ref Price A - Delivery Date: Contract Period

Strike Price Intervals: A minimum of ten Strike Prices in increments of $0.50 per MWh above and below the atthe-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined 

Strike Prices are allowed in $0.05 increments.

MIC Code: IFED

Clearing Venue:ICEU
62

18.E.137 Option on Socal Citygate Fixed Price Future

Contract Description:A monthly Option on the corresponding Contract Period of the Socal Citygate Fixed Price 

Future.

Contract Symbol: CVL

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 2500 MMBtus

Currency:USD

Minimum Price Fluctuation:The price quotation convention shall be One hundredth of a cent ($0.0001) per 

MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. 

Listing Cycle:Up to 60 consecutive monthly Contract Periods, or as otherwise determined by the Exchange. Last 

Trading Day.At the end of the Trading Session on the last Business Day prior to the first calendar day of the 

Contract Period

Strike Price Intervals: Strike Price Listing Provisions: A minimum of 10 Strike Prices in increments of $0.25 per 

MMBtu above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures 

price movements. User-defined Strike Prices are allowed in $0.001 increments.

Option Style: European

Exercise Method: Automatic

Exercise procedure:Manual exercise or abandon is not permitted. 

Exercise Day: The second Clearing Organization business day following the Last Trading Day

Automatic Exercise Provisions: Options which are "in the money", with respect to Reference Price A, exercise 

automatically into the Underlying Futures Contract with a contract price equal to the Strike Price.

Options which are "out of the money" expire automatically.

REFERENCE PRICE A: NATURAL GAS-CALIFORNIA (SOCAL CITYGATE)-NGI

a) Ref Price A - Description: "NATURAL GAS-CALIFORNIA (SOCAL CITYGATE)-NGI" means that the 

price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the 

Delivery Date, stated in U.S. Dollars, published under the heading "Spot Gas Prices: California: SoCal 

Citygate: avg." in the issue of NGI's Bidweek Survey that reports prices effective on that Pricing Date.

b) Ref Price A - Pricing Date: First publication date of the Contract Period

c) Ref Price A - Specified Price:Average

d) Ref Price A - Pricing calendar:NGI

e) Ref Price A - Delivery Date: Contract Period

MIC Code: IFED

Clearing Venue:ICEU
63

SUBCHAPTER 19A -OUTRIGHT-CRUDE OIL AND REFINED PRODUCTS

* * *

19.A.36 Crude Outright -Permian WTI 1st Line Future

19.A.37 Biodiesel Outright -Argus Houston Methanol Future

* * *
64

19.A.36 Crude Outright -Permian WTI 1st Line Future

Description:A monthly cash settled future based on the ICE daily settlement price for Permian WTI Futures.

Contract Symbol: HOO

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

Settlement Price Quotation: One tenth of one cent ($0.001) per barrel

Minimum Price Fluctuation: One tenth of one cent ($0.001) 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 settlement prices as made public by ICE for the front month Permian WTI Futures 

contract for the month of production.

Contract Series:Up to 96 consecutive months

Business Days:US business Days

MIC Code: IFED

Clearing Venue:ICEU
65

19.A.37 Biodiesel Outright -Argus Houston Methanol Future

Description:A monthly cash settled future based on the Argus daily assessment price for FOB Houston Methanol 

barges.

Contract Symbol: BOM

Contract Size: 100 metric tonnes

Unit of Trading: Any multiple of 100 metric tonnes

Currency:US Dollars and cents

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

Settlement Price Quotation: One tenth of one cent ($0.001) per metric tonne

Minimum Price Fluctuation: One tenth of one cent ($0.001) 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 “Index” quotations appearing in the “Argus Methanol Daily” report under the 

heading “Methanol prices”,subheading “Americas” for “fob Houston barge” for each business day (as specified 

below) in the determination period.

Contract Series:Up to 12 consecutive months

Final Payment Dates:Two Clearing House Business Days following the Last Trading Day

Business Days:Publication days for Argus Methanol Daily

MIC Code: IFED

Clearing Venue:ICEU
66

SUBCHAPTER 19B -CRACKS – CRUDE OIL AND REFINED PRODUCTS

* * *

19.B.15 Fuel Oil Crack - Marine Fuel 0.5% FOB USGC Barges (Platts) vs Brent 1st Line Future

* * *
67

19.B.15 Fuel Oil Crack -Marine Fuel 0.5% FOB USGC Barges (Platts) vs Brent 1st Line Future

Description: A monthly cash settled future based on the Platts daily assessment price for 0.5% FOB US Gulf Coast 

Barges Marine Fuel and the ICE settlement price for Brent 1st Line Future

Contract Symbol: FOQ

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

Settlement Price Quotation: One tenth of one cent ($0.001) per barrel

Minimum Price Fluctuation: One tenth of one cent ($0.001) 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 “$/barrel” quotations appearing in the “Platts US Marketscan” 

under the heading “Marine Fuel” for “0.5% FOB US Gulf Coast barge" and the average of the settlement prices as 

made public by ICE for the front month Brent Future for each business day (as specified below) in the determination 

period.

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

Brent 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 60 consecutive months

Final Payment Dates:Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Platts US Marketscan and ICE

MIC Code: IFED

Clearing Venue:ICEU
68

SUBCHAPTER 19C-DIFFERENTIAL FUTURES CONTRACTS – CRUDE OIL AND REFINED 

PRODUCTS

* * *

19.C.107; Reserved

19.C.108 Condensate Diff- ICE C5 PEA 1a Index Future

19.C.109 Condensate Diff- ICE C5 ENB 1a Index Future

19.C.110 Fuel Oil Diff - Marine Fuel 0.5% FOB USGC Barges (Platts) vs 3.5% FOB Rotterdam Barges (Platts) 

Future (in Bbls)

* * *
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19.C.108 Condensate Diff - ICE C5 PEA 1a Index Future

Description:A monthly cash settled future based on the ICE C5 Peace Pipeline Monthly Volume Weighted 

Average Price Index (ICE C5 PEA 1a). The ICE C5 PEA 1a Index is expressed as a differential to the NYMEX 

WTI 1st Line Future (Calendar Month Average).

Contract Symbol: CEG

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

Settlement Price Quotation: One hundredth of one cent ($0.0001) per barrel

Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per barrel

Last Trading Day: Trading shall cease one Canadian business day prior to the Notice of Shipments (NOS) date on 

the Enbridge Pipeline. The NOS date occurs on or about the 20th calendar day of the month, subject to confirmation 

by Enbridge Pipeline. The official schedule for the NOS dates will be made publicly available by Enbridge Pipeline 

prior to the start of each year.

Final Settlement Price: A price in USD and cents per barrel based on the ICE C5 PEA 1a Index, as published by 

ICE-NGX. The index pricing period for each contract month begins on the first Canadian business day of the 

calendar month prior to the contract month and ends on the Canadian business day prior to the NOS date (as 

published by Enbridge) in the same calendar month.

Contract Series:Up to 60 consecutive months

Final Payment Dates:Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for ICE-NGX Crude Oil Markets

MIC Code: IFED

Clearing Venue:ICEU
70

19.C.109 Condensate Diff - ICE C5 ENB 1a Index Future

Description:A monthly cash settled future based on the ICE C5 Enbridge Pipeline Monthly Volume Weighted 

Average Price Index (ICE C5 ENB 1a). The ICE C5 ENB 1a Index is expressed as a differential to the NYMEX 

WTI 1st Line Future (Calendar Month Average).

Contract Symbol: CEH

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

Settlement Price Quotation: One hundredth of one cent ($0.0001) per barrel

Minimum Price Fluctuation:One hundredth of one cent ($0.0001) per barrel

Last Trading Day: Trading shall cease one Canadian business day prior to the Notice of Shipments (NOS) date on 

the Enbridge Pipeline. The NOS date occurs on or about the 20th calendar day of the month, subject to confirmation 

by Enbridge Pipeline. The official schedule for the NOS dates will be made publicly available by Enbridge Pipeline 

prior to the start of each year.

Final Settlement Price:A price in USD and cents per barrel based on the ICE C5 ENB 1a Index, as published by 

ICE-NGX. The index pricing period for each contract month begins on the first Canadian business day of the 

calendar month prior to the contract month and ends on the Canadian business day prior to the NOS date (as 

published by Enbridge) in the same calendar month.

Contract Series:Up to 60 consecutive months

Final Payment Dates:Two Clearing House Business Days following the Last Trading Day

Business Days:Publication days for ICE-NGX Crude Oil Markets

MIC Code: IFED

Clearing Venue:ICEU
71

19.C.110 Fuel Oil Diff -Marine Fuel 0.5% FOB USGC Barges (Platts) vs 3.5% FOB Rotterdam Barges 

(Platts) Future (in Bbls)

Description:A monthly cash settled future based on the Platts daily assessment price for 0.5% FOB US Gulf Coast 

Barges Marine Fuel and the Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil (in bbls).

Contract Symbol: FOR

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

Settlement Price Quotation: One tenth of one cent ($0.001) per barrel

Minimum Price Fluctuation:One tenth of one cent ($0.001) 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 “$/barrel” quotations appearing in the “Platts US Marketscan” 

under the heading “Marine Fuel” for “0.5% FOB US Gulf Coast barge" and the average of the ”$/mt” 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

Contract Series:Up to 60 consecutive months

Final Payment Dates:Two Clearing House Business Days following the Last Trading Day

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

MIC Code: IFED

Clearing Venue:ICEU
72

SUBCHAPTER 19F- OPTIONS

* * *

19.F.34 Crude Outright -Permian WTI Average Price Option

* * *
73

19.F.34 Crude Outright - Permian WTI Average Price Option

Description: The Permian WTI Average Price Option is based on the underlying ICE Permian WTI 1st Line Future 

(HOO) and will automatically exercise into the settlement price of the 1st Line Future on the day of expiry of the 

options contract.

Contract Symbol: HOO

Hedge Instrument: The delta hedge for the Permian WTI Average Price Option is the Permian WTI 1st Line 

Future (HOO). 

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

Settlement Price Quotation: One tenth of one cent ($0.001) per barrel

Minimum Price Fluctuation: One tenth of one cent ($0.001) per barrel

Last Trading Day: Last Trading Day of the contract month

Option Style:Options are Asian-style and will be automatically exercised on the expiry day if they are “in the 

money”. The swap future resulting from exercise immediately goes to cash settlement relieving market participants 

of the need to concern themselves with liquidation or exercise issues. If an option is “out of the money” it will 

expire automatically. It is not permitted to exercise the option on any other day or in any other circumstances than 

the Last Trading Day. No manual exercise is permitted.

Expiry: 19:30 London Time (14:30 EST).

Automatic exercise settings are pre-set to exercise contracts which are one minimum price fluctuation or more 'in 

the money' with reference to the relevant reference price. Members cannot override automatic exercise settings or 

manually enter exercise instructions for this contract.

The reference price will be a price in USD and cents per barrel equal to the average of the settlement prices for the 

ICE Permian WTI 1st Line Future for the contract month.

Strike Price Intervals: Minimum $0.50 increment strike prices. $1.00 Strikes from $20 to $240. $0.50 strikes 20 

strikes above and below ATM. The “at the money” strike price is the closes interval nearest to the previous business 

day’s settlement price of the underlying contract.

Contract Series:Up to 72 consecutive months

Final Payment Dates:Two Clearing House Business Days following the Last Trading Day

Business Days:US business days.

MIC Code: IFED

Clearing Venue:ICEU
74

SUBCHAPTER 19G- PETROCHEMICALS

* * *

19.G.7 Ethylene Choctaw, IHS Future

* * *
75

19.G.7 Ethylene Choctaw, IHS Future

Description:A monthly cash settled future based upon the average of the daily prices published by OPIS PCW for 

the location specified in Reference Price A.

Contract Symbol: CVY

Settlement Method: Cash settlement

Contract Size: 100,000 Pounds

Currency:US Dollars and cents

Min Price Flux: One thousandth of one cent ($0.00001) per pound;

Listing Cycle:Up to 72 consecutive monthly Contract Periods

Last Trading Day: Last Trading Day of the contract month

Final Settlement:Average ofReference Price A prices

REFERENCE PRICE A: MONOMERS–ETHYLENE Choctaw FOB– OPIS PETROCHEM WIRE

a) Description: "MONOMERS–ETHYLENE Choctaw FOB– OPIS PETROCHEM WIRE" means that the 

price for a Pricing Date will be that day's Specified Price per pound of ethylene, stated in US Dollars, 

published under the heading "Closing Markets – Monomers – Ethylene Choctaw FOB" in the issue of OPIS 

PETROCHEM WIRE that reports prices effective on that Pricing Date

b) Pricing Date: Each day that prices are reported for the Delivery Date

c) Specified Price:Average

d) Pricing calendar: OPIS PETROCHEM WIRE

e) Delivery Date: Contract month

Final Payment Date: Two Clearing House Business Days following the Last Trading Day

MIC Code: IFED

Clearing Venue:ICEU

[REMAINDER OF RULEBOOK UNCHANGED]
76

EXHIBIT B

[EXHIBIT REDACTED]