55 East 52nd Street

New York, New York 10055

BY ELECTRONIC TRANSMISSION

Submission No. 23-39

March 31, 2023

Mr. Christopher J. Kirkpatrick

Secretary of the Commission

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Weekly Notification of Rule Amendments

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

Dear Mr. Kirkpatrick:

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended, and 

Commission Regulation 40.6(d), ICE Futures U.S., Inc. (“Exchange”) submits notification to the 

Commission that, during the preceding week, the Exchange corrected typographical errors in 

Exchange Rules 18.A.233, 18.A.236, and 18.A.240, which provide the terms and conditions of the 

Pine Prairie Basis Future (“CVI”), EP West Texas Basis Future (“EWB”), and Tennessee Zone 4 

200L Basis Future (“TNC”), respectively. Specifically, the Exchange corrected the Final 

Settlement description to align with the contracts’ specifications, which provides that the contracts 

cash settle to a price in USD based on “Reference Price A minus Reference Price B.” The 

amendments were non-substantive in nature and no other amendments were made to the terms and 

conditions of the products. The amendments to the terms and conditions of the products are

provided as Exhibit A.

Additionally, the Exchange corrected typographical errors in Resolution No. 2 to Chapter 

19 to correct the spot month position limit and single and all month accountability levels for the 

Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in 

MTs) (“NVV”). The corrections align the product’s limit and accountability levels with 

equivalently-sized positions held in its parent contract, Fuel Oil Diff – USGC HSFO (Platts) vs 

Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in Bbls) (“GOE”), after accounting for 

contract size. This contract has no open interest and there were no changes made to the contract’s 

terms and conditions. The aforementioned corrections are detailed in Exhibit B.
Further, in the preceding week, the Exchange corrected and updated the aggregation 

requirements for the Exchange’s auction clearing price futures to reflect updated underlying 

futures contracts. As an example, the terms and conditions of the California Carbon Allowance 

Current Auction Clearing Price (“ACP”) provide that the deliverable instruments underlying the 

futures contract is a futures contract with a vintage equal to the current calendar year and an expiry 

month following the month the auction is held. As such, for ACP, the aggregation requirements 

have been updated to reflect aggregation with the California Carbon Allowance Vintage 2023 

Future (“CB1”) contract. (See ICE Futures U.S. Submission Nos. 19-49 through 19-51) The 

amendments were non-substantive in nature and no other amendments were made to the 

Resolution. No amendments were made to the terms and conditions of the products. The 

amendments to Resolution No. 2 to Chapter 18 are provided as Exhibit B.

Lastly, the Exchange corrected an error in Rule 16.02(j)(i) to accurately reflect the ticksize for Japanese yen-U.S. dollar futures (See ICE Futures U.S. Submission No. 15-100), as set 

forth in Exhibit C.

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

or at patrick.swartzer@ice.com.

Sincerely,

Patrick Swartzer

Director

Market Regulation

Enc.

cc: Division of Market Oversight

New York Regional Office
Exhibit A

(In the text of the amendments below, additions are shown underscored 

and deletions are bracketed and lined through.)

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 minus Reference Price B

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: 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

Clearing Venue: ICEU
18.A.240 Tennessee Zone 4 200L 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: TNC

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 minus Reference Price B

REFERENCE PRICE A: NATURAL GAS-TENNESSEE ZONE 4 200 LEG-INSIDE-FERC

a) Ref Price A - Description: “NATURAL GAS-TENNESSEE ZONE 4 200 LEG-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): Appalachia, Tennessee, zone 4-200 leg: 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

Clearing Venue: ICEU
18.A.236 EP West Texas 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: EWB

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 minus Reference Price B

REFERENCE PRICE A: NATURAL GAS-EL PASO (WEST TEXAS)-INSIDE-FERC

a) Ref Price A - Description: “NATURAL GAS-EL PASO (WEST TEXAS)-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): Southwest: El Paso, West Texas: 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

Clearing Venue: ICEU

[REMAINDER OF RULEBOOK UNCHANGED]
Exhibit B

(In the text of the amendments below, additions are shown underscored 

and deletions are bracketed and lined through.)

Rule Contract Name

Commodity 

Code Market Type

Contract 

Size Unit of Trading

Spot Month 

Limit

Single Month 

Accountability 

Level

All Month 

Accountability 

Level

Aggregate 

1 (Positive 

Correlation)

19.C.54 Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in Bbls) GOE Oil Americas 1,000 barrels 1,000 1,000 1,000 GOE

19.C.55 Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Balmo Future (in Bbls) GOD Oil Americas 1,000 barrels 1,000 1,000 1,000 GOE

19.C.56 Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in MTs) NVV Oil Americas 1,000 mt [1,000] 157 [1,000] 157 [1,000] 157 GOE

18.D.047 California Carbon Allowance Current Auction Clearing Price ACP Physical 

Environmental 1

California 

Carbon 

Allowances 

futures contract

25,000 25,000 30,000 [CAX] CB1

1

18.D.048 California Carbon Allowance Advance Auction Clearing Price ACA Physical 

Environmental 1

California 

Carbon 

Allowances 

futures contract

25,000 25,000 30,000 [CB0] CB6

1

18.D.049 Regional Greenhouse Gas Initiative Allowance Auction Clearing RCP Physical 

Environmental 1

Regional 

Greenhouse Gas 

Initiative futures 

contract

25,000 25,000 25,000 [RGR] RJ3

1

18.D.022 California Carbon Allowance Vintage 2023 Future CB1 Physical 

Environmental 1,000

California 

Carbon 

Allowances

25,000 25,000 30,000 CB1

18.D.022 California Carbon Allowance Vintage 2026 Future CB6 Physical 

Environmental 1,000

California 

Carbon 

Allowances

25,000 25,000 30,000 CB6

18.D.011 Regional Greenhouse Gas Initiative Vintage 2023 Future RJ3 Physical 

Environmental 1,000 RGGI CO2Allowances 25,000 25,000 25,000 RJ3

1 Demonstrates the current iteration of product aggregation, however, subsequent expirations' aggregation requirements will be applicable to the relevant vintage-year.

[REMAINDER OF RESOLUTION UNCHANGED]
Exhibit C

(In the text of the amendments below, additions are shown underscored 

and deletions are bracketed and lined through.)

Rule 16.02. Quotation Basis

 ****

(j) Japanese yen Based:

(i) yen-dollar: Bids and offers for yen-dollar futures shall be quoted in terms of US dollars per 

Japanese yen to [6] 7 decimal places. The minimum price fluctuation shall be the Japanese yen 

equivalent of .0000001 US dollars per Japanese yen, which is equivalent to twelve and one half 

([12.50]6.25) US dollars per contract. The US dollar is the quoted currency. The Japanese yen is the 

base currency.

[REMAINDER OF RULE UNCHANGED]