55 East 52nd Street

New York, New York 10055

BY ELECTRONIC TRANSMISSION

Submission No. 23-135

October 13, 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 Changes

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 reduced the Interval Price Limit (“IPL”) for certain Exchangelisted Financial Gas index markets from $12.00 to $2.00. Additionally, the Exchange removed the Crude 

Diff – Argus WTI Midland vs WTI 1st Line Future (“MLT”) from the list of crude oil IPL exceptions. 

The IPL for such product will be applied consistent with the “All Oil (Barrels or lbs) Contracts” category, 

which has an identical IPL Amount. The amendments are based on the Exchange’s review of its IPLs for 

Futures Contracts, and pursuant to Exchange Rule 4.28, which provides that the Exchange shall specify, 

and may alter in its discretion, the IPL Amount of Exchange Futures Contracts from time to time. 

Further, the Exchange removed the previously delisted Fuel Oil Diff – USGC HSFO (Platts) vs 

Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in MTs) (“NVV”) product from the list of IPL 

exceptions. No additional changes were made to the document and all amendments were non-substantive 

in nature. The changes to the Exchange’s Interval Price Limit Functionality are attached as Exhibit A.

Lastly, the Exchange submits notification that during the preceding week it reduced the minimum 

price fluctuation for the Option on California Low Carbon Fuel Standard Credit (OPIS) Future (“LFT”) 

from 0.25 to 0.01. No other amendments were made to the product’s terms and conditions. Corresponding 

amendments were made to the Exchange Rule 18.E.159 and Resolution No. 1 to Chapter 18. Such 

amendments are provided as Exhibit B.

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.)

INTERVAL PRICE LIMIT 

FUNCTIONALITY

With IPL levels as of October 2023

* * *

Products IPL Amount

(in $ Terms)

IPL Exceptions 

(in $ Terms)

Recalc 

Time

(seconds)

Hold 

Period

(seconds)

Index $0.20

IPL Amount: [$12.00] $2.00

AB NIT Index (AIS)

* * *

3 5

* * *

Products Commodity 

Code Unit

IPL 

Exceptions 

(in $ Terms)

Recalc 

Time

(seconds)

Hold 

Period

(seconds)

Crude Diff – Argus LLS vs WTI 1st Line Future ARK bbl $6.00 3 5

Argus Mars vs WTI Trade Month Future ARW bbl $6.00 3 5

Crude Diff – Argus WTS vs WTI Trade Month Future AVT bbl $6.00 3 5

Crude Diff – WTI 1st Line vs Brent 1st Line Future BTD bbl $6.00 3 5

Fuel Oil Diff – New York 1% Fuel Oil (Platts) vs USGC HSFO (Platts) Future FOD bbl $4.00 3 5

Fuel Oil Outright – New York 1% Fuel Oil Future FOW bbl $4.00 3 5

Fuel Oil Crack – USGC HSFO (Platts) vs Brent 1st Line Future GCS bbl $1.50 3 5

Gasoline Diff – Group 3 Sub-octane Gasoline (Platts) vs RBOB Gasoline 1st Line Future GDL gal $0.10 3 5

Gasoline Diff – Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) vs RBOB Gasoline 1st Line Future GDM gal $0.10 3 5

Gasoline Diff – RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam Barge Future GDO MT $10.00 3 5

Gasoline Diff – RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam Barges Mini Future GDQ MT $10.00 3 5

Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in Bbls) GOE bbl $1.00 3 5

Diesel Diff – Gulf Coast ULSD vs Heating Oil 1st Line Future GOH gal $0.04 3 5

Fuel Oil Crack – USGC HSFO (Platts) vs WTI 1st Line Future GUF bbl $1.50 3 5

Heating Oil Crack – Heating Oil 1st Line vs Brent 1st Line Future (in Bbls) HBT bbl $1.50 3 5

Jet Fuel Diff – Gulf Coast Jet Fuel vs Heating Oil 1st Line Future JHO gal $0.04 3 5

[Crude Diff – Argus WTI Midland vs WTI 1st Line Future] [MLT] [Bbl] [$6.25] [3] [5]

[Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in MTs)] [NVV] [MT] [$2.00] [3] [5]

Crude Outright – WTI 1st Line Future R bbl $1.50 3 5
Fuel Oil Outright – USGC HSFO (Platts) Future RBO bbl $4.00 3 5

Gasoline Crack – RBOB Gasoline 1st Line vs Brent 1st Line Future (in Bbls) RBR bbl $1.50 3 5

Heating Oil Arb – Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line Future (in Bbls) ULM bbl $0.04 3 5

Gasoline Diff – Gulf Coast Unl 87 Gasoline Prompt Pipeline (Platts) vs RBOB Gasoline 1st Line Future UM1 bbl $0.10 3 5

Natural Gasoline, OPIS Mt. Belvieu Non-TET vs WTI 1st Line Future NGW bbl $4.00 3 5

Propane, Argus CIF ARA vs Brent 1st Line Future (in bbls) PRQ bbl $6.25 3 5

Propane, Argus CIF ARA vs Brent 1st Line Future (in MTs) PRR MT $6.25 3 5

* * *

[REMAINDER OF DOCUMENT UNCHANGED]
Exhibit B

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

and deletions are bracketed and lined through.)

18.E.159 Option on California Low Carbon Fuel Standard Credit (OPIS) Future

Description: An Option on the corresponding month of the California Low Carbon Fuel 

Standard Credit (OPIS) Future (LFS)

Contract Symbol: LFT

Settlement Method: Exercise into Underlying Futures Contract 

Contract Size: 1 California Low Carbon Fuel Standard Credit (OPIS) Future contract 

Currency: USD 

Minimum Price Fluctuation: The price quotation convention shall be [Twenty Five cents] One 

cent ([$0.25] $0.01) per Credit; 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 5 

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 $0.25 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 

Last Trading Day: At 4:00 pm EPT on the 15th calendar day of the expiring 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 expiring month. 

Option Style: European 

Option Premium: Futures Style 

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

[REMAINDER OF RULEBOOK UNCHANGED]
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.E.159 Option on California Low Carbon Fuel Standard Credit (OPIS) Future [0.25] 0.01 [0.25] 0.01

* * *

[REMAINDER OF RESOLUTION UNCHANGED]