55 East 52nd Street

New York, NY 10055

BY ELECTRONIC TRANSMISSION

Submission No. 23-73

May 16, 2023

Mr. Christopher J. Kirkpatrick

Secretary of the Commission

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Amendments to the Listing Cycles for ICE Futures U.S. Futures and Options Contracts

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

Dear Mr. Kirkpatrick:

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

Trading Commission (“Commission”) Regulation 40.6(a), ICE Futures U.S., Inc. (“Exchange”) hereby certifies 

amendments to the terms and conditions of various Exchange futures and option on futures contracts. The amendments 

to the terms and conditions, as provided in Chapters 18 and 19 of the Exchange Rulebook, add the language “or as 

otherwise determined by the Exchange” to the Listing Cycle definitions to provide consistency with other energy 

futures and option on futures contracts currently listed by the Exchange and allow the Exchange necessary flexibility 

in managing its markets. The remainder of the products’ terms and conditions are unchanged at this time. The 

amendments to the terms and conditions will take effect on June 1, 2023, or no sooner than 10 business days after 

receipt of this submission by the Commission. The amendments to the Exchange contracts’ terms and conditions are 

provided as Exhibit A.

Certifications

The Exchange is not aware of any opposing views to the amendments and certifies that the amendments to 

product’s terms and conditions and Exchange rulebook 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 amendments comply with the following relevant 

Core Principles:

COMPLIANCE WITH RULES

The amended terms and conditions are provided as an attachment to this submission, will be provided in the 

Exchange’s rulebook, and will be enforced by the Exchange. In addition, trading of the Exchange’s contracts

is subject to all relevant Exchange rules which are enforced by the Market Regulation Department. 

The Exchange 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

Director

Market Regulation

Enc.

cc: Division of Market Oversight

New York Regional Office
EXHIBIT A

[Additions are underlined and deletions have been struck through]

18.A.186 UK NBP Natural Gas Last Day Financial Futures (USD/MMBTU)

Contract Description: A monthly cash settled Exchange Futures Contract based upon the settlement 

price as published by ICE Futures Europe for the ICE UK Natural Gas Futures (M) contract converted 

to United States dollar (USD) using WM/Reuters Closing GBPUSD Spot Rate as published by 

Refinitiv at 16:00 GMT.

Contract Symbol: UNF

Settlement Method: Cash settlement

Contract Size: 2500 MMBtu

Currency: USD

Minimum Price Fluctuation: The price quotation convention shall be one tenth of a cent ($0.001) 

per MMBtu; minimum price fluctuation may vary by trade type.

Listing Cycle:

78-83 consecutive months, or as otherwise determined by the Exchange. 

11-13 consecutive qtrs. Quarters are strips of three individual and consecutive contract 

months. Quarters always comprise a strip of Jan-Mar, Apr-Jun, Jul- Sep or Oct-Dec, or as 

otherwise determined by the Exchange. 

13-14 consecutive European gas seasons. European gas seasons are strips of six individual 

and consecutive contract months and comprise a strip of Apr-Sep or Oct-Mar. 6 consecutive 

years, or as otherwise determined by the Exchange.

13-14 consecutive US gas seasons. US winter seasons are strips of five individual and 

consecutive contract months. US winter seasons always comprise a strip of Nov-Mar. US 

summer seasons are strips of seven individual and consecutive contract months and comprise 

a strip of Apr-Oct, or as otherwise determined by the Exchange.

Last Trading Day: Trading will cease at the close of business two Business Days prior to the first

calendar day of the delivery month, quarter, season or calendar year.

Final Settlement: Reference Price A

Reference Price A: UK Natural Gas NBP Future (M) - ICE Futures Europe

a) Description: "UK Natural Gas NBP Future (M) - ICE Futures Europe " means that the price 

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

Futures Europe for the UK Natural Gas NBP Future Contract (M) for the Delivery Date, 

stated in pence Sterling per therm, as made public by ICE Futures Europe on that Pricing 

Date. The price for a Pricing Date is converted to United States dollar (USD) using the 

WM/Reuters Closing GBPUSD Spot Rate as published by Refinitiv at 16:00 GMT. When 

there is no WM/Reuters Closing GBPUSD Spot Rate published, the next previous 
WM/Reuters Closing GBPUSD Spot Rate as published by Refinitiv will be used for 

settlement purposes.

b) Pricing Date: Last scheduled trading day of the ICE Futures Europe UK Natural Gas NBP 

Futures (M) Futures Contract for the Delivery Date.

c) Specified Price: Settlement price

d) Pricing Calendar: ICE Futures Europe

e) Delivery Date: Contract Period

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

Disclaimer: The WM/Reuters Closing Spot Rate is used under license from Refinitiv. The use of the 

WM/Reuters Closing Spot Rate does not imply or express any approval or endorsement by Refinitiv 

of the products listed on the Exchange. The WM/Reuters Closing Spot Rate is proprietary to Refinitiv.

MIC Code: IFED

Clearing Venue: ICEU
18.A.191 Tennessee 500L 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: TE5

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-LOUISIANA/SOUTHEAST, TENNESSEE, 500 LEGGAS DAILY

a) Ref Price A - Description: “NATURAL GAS-LOUISIANA/SOUTHEAST, TENNESSEE, 500 

LEG-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, Tennessee, 500 Leg: 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
18.E.142 Option on PJM NI Hub Real-Time Peak Fixed Price Future

Description: A monthly Option on the corresponding Contract Period of the PJM NI Hub Real-Time 

Peak Fixed Price Future

Contract Symbol: PNL

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 1 MW

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 50 consecutive monthly Contract Periods, or as otherwise determined by the 

Exchange.

Last Trading Day: At 2:30pm EPT on the second Business Day prior to the first calendar day of the 

Contract Period

Options Style: American

Exercise Method: Manual; Automatic on Last Trading Day

Exercise Procedure: Clearing Members shall provide exercise and abandon instructions to the 

Clearing Organization in accordance with Clearing Organization Rules.

Exercise Day: Manual on any Business Day, Automatic on 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: ELECTRICITY-PJM-NI HUB-REAL TIME-PEAK MONTHLYICE

a) Description: ELECTRICITY-PJM-NI HUB-REAL TIME-PEAK MONTHLY-ICE means 

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

ICE of the PJM NI Hub Real-Time Peak Fixed Price Futures Contract for the Delivery Date, 

stated in U.S. Dollars, as made public by ICE on that Pricing Date.

b) Pricing Date: Two Business Days prior to the first calendar day of the Contract Period

c) Specified Price: Settlement Price

d) Pricing calendar: ICE

e) Delivery Date: Contract Period

Strike Price Listing Provisions: A minimum of ten Strike Prices in increments of $1.00 per MWh 

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.

MIC: IFED
Clearing Venue: ICEU
18.E.143 Option on PJM NI Hub Real-Time Off-Peak Fixed Price Future

Description: A monthly Option on the corresponding Contract Period of the PJM NI Hub Real-Time 

Off-Peak Fixed Price Future

Contract Symbol: NIO

Settlement Method: Exercise into Underlying Futures Contract

Contract Size: 1 MW

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 50 consecutive monthly Contract Periods, or as otherwise determined by the 

Exchange.

Last Trading Day: At 2:30pm EPT on the second Business Day prior to the first calendar day of the 

Contract Period

Options Style: American

Exercise Method: Manual; Automatic on Last Trading Day

Exercise Procedure: Clearing Members shall provide exercise and abandon instructions to the 

Clearing Organization in accordance with Clearing Organization Rules.

Exercise Day: Manual on any Business Day, Automatic on 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: ELECTRICITY-PJM-NI HUB-REAL TIME-OFF-PEAK 

MONTHLY-ICE

a) Description: ELECTRICITY-PJM-NI HUB-REAL TIME-OFF-PEAK MONTHLY-ICE 

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

electricity on ICE of the PJM NI Hub Real-Time Off-Peak Fixed Price Futures Contract for 

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

b) Pricing Date: Two Business Days prior to the first calendar day of the Contract Period

c) Specified Price: Settlement Price

d) Pricing calendar: ICE

e) Delivery Date: Contract Period

Strike Price Listing Provisions: A minimum of ten Strike Prices in increments of $1.00 per MWh 

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.

MIC: IFED
Clearing Venue: ICEU
19.A.1 CRUDE OUTRIGHT – ARGUS LLS FUTURE

Product Name Crude Outright – Argus LLS Future

Contract Description A monthly cash settled future based on the Argus daily assessment price for 

Light Louisiana Sweet Crude Oil (1st Month).

Contract Symbol ARH

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 A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline $/bl”, 

subheading “Price” for “LLS” for each business day (as specified below) in 

the determination period.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.2 CRUDE OUTRIGHT – ARGUS MARS FUTURE

Product Name Crude Outright – Argus Mars Future

Contract Description A monthly cash settled future based on the Argus daily assessment price for 

Mars Crude Oil (1st Month).

Contract Symbol ARM

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 A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline $/bl”, 

subheading “Price” for “Mars” for each business day (as specified below) in 

the determination period.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.3 CRUDE OUTRIGHT – ARGUS WTI CUSHING TRADE MONTH FUTURE

Product Name Crude Outright – Argus WTI Cushing Trade Month Future

Description A cash settled future based on the Argus daily assessment price for WTI 

Cushing formula basis.

Contract Symbol ACT

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 Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If 

the 25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the "Argus Crude" report under the heading "US Gulf Coast and 

Midcontinent", subheading “WTI” for "WTI Cushing” WTI formula basis 

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

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.4 CRUDE OUTRIGHT – WTI 1ST LINE FUTURE

Product Name Crude Outright – WTI 1st Line Future

Contract Description A monthly cash settled future based on the daily settlement price for WTI 

Futures.

Contract Symbol R

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 A price in USD and cents per barrel based on the average of the settlement 

prices as made public by NYMEX for the front month WTI Futures contract 

for the month of production.

Contract Series Up to 84 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.5 CRUDE OUTRIGHT – WTI 1ST LINE BALMO FUTURE

Product Name Crude Outright – WTI 1st Line Balmo Future

Contract Description A balance of the month cash settled future based on the daily settlement price 

for WTI Futures.

Contract Symbol WBT

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 A price in USD and cents per barrel based on the average of the settlement 

prices as made public by NYMEX for the front month WTI Futures contract 

for the month of production.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.6 CRUDE OUTRIGHT – WTI 1ST LINE MINI FUTURE

Product Name Crude Outright – WTI 1st Line Mini Future

Description A monthly cash settled mini future based on the daily settlement price for the 

NYMEX WTI Crude Futures

Contract Symbol RMM

Contract Size 100 barrels

Unit of Trading Any multiple of 100 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 A price in USD and cents per barrel based on the average of the settlement 

prices as made public by NYMEX for the front month WTI Futures contract 

for the month of production

Contract Series Up to 84 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.7 CRUDE OUTRIGHT – WTI BULLET FUTURE

Product Name Crude Outright – WTI Bullet Future

Contract Description A WTI Bullet Future

Contract Symbol WTB

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 Trading shall cease at the close of business on the 4th NYMEX Business Day 

prior to the 25th calendar day of the month preceding the contract month. If 

the 25th calendar day of the month is not a NYMEX Business Day the final 

trading day shall be the trading day which is the 5th NYMEX Business Day 

preceding the 25th calendar day of the month preceding the contract month. 

(A “NYMEX Business Day” is a day on which NYMEX is open for business.)

Final Settlement Price A price in USD and cents per barrel equal to the price as made public by 

NYMEX for the WTI Futures contract for the month of production on the 

penultimate trading day.

Contract Series Up to 84 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.9 CRUDE OUTRIGHT—EU-STYLE WTI FUTURE

Product Name Crude Outright—EU-Style WTI Future 

Description The EU-Style WTI Future is used for the purposes of settling the EU-Style 

WTI Option.

Contract Symbol WUL

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 Trading shall end two NYMEX Business Days prior to the expiration date of 

the ICE Futures Europe WTI Crude Futures Contract (i.e., the 6th NYMEX 

Business Day prior to the 25th calendar day of the month preceding the 

contract month. If the 25th calendar day of the month is not a NYMEX 

Business Day the final trading day shall be the trading day which is the 7th 

NYMEX Business Day preceding the 25th calendar day of the month 

preceding the contract month). (A “NYMEX Business Day” is a day on 

which NYMEX is open for business.)

Final Settlement Price A price in USD and cents per barrel equal to the settlement price of the ICE 

WTI Bullet Future for the contract month on the 3

rd business day prior to 

the last trading day of the ICE Futures Europe WTI Futures Contract for 

the contract month. 

Contract Series Up to 36 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19-see IFUS website
19.A.10 FUEL OIL OUTRIGHT – NEW YORK 1% FUEL OIL FUTURE

Product Name Fuel Oil Outright – New York 1% Fuel Oil Future

Description A monthly cash settled future based on the Platts daily assessment price for 

New York 1% Fuel Oil

Contract Symbol FOW

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 A price in USD and cents per barrel based on the average of the mean of the 

high and low quotations appearing in the “Platts US Marketscan” under the 

heading “Atlantic Coast New York” subheading “Residual fuel ($/bbl)” and 

“Cargo” for “No. 6 1%” for each business day (as specified below) in the 

determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.11 FUEL OIL OUTRIGHT – NEW YORK 1% FUEL OIL BALMO FUTURE

Product Name Fuel Oil Outright – New York 1% Fuel Oil Balmo Future

Description A balance of the month cash settled future based on the Platts daily assessment 

price for New York 1% Fuel Oil.

Contract Symbol FOX

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One cent ($0.01) per barrel

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 A price in USD and cents per barrel based on the average of the mean of the 

high and low quotations appearing in the “Platts US Marketscan” under the 

heading “Atlantic Coast New York” subheading “Residual fuel ($/bbl)” and 

“Cargo” for “No. 6 1%” for each business day (as specified below) in the 

determination period.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.12 FUEL OIL OUTRIGHT – USAC HSFO (PLATTS) FUTURE

Product Name Fuel Oil Outright – USAC HSFO (Platts) Future

Description A monthly cash settled future based on the Platts daily assessment price for 

USAC HSFO.

Contract Symbol 14X

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 A price in USD and cents per barrel based on the average of the “Mid” 

quotations appearing in the “Platts US Marketscan” under the heading 

“Atlantic Coast” subheading “New York Harbor” and “Delivered cargo 

($/barrel)” for “USAC HSFO” for each business day (as specified below) in 

the determination period.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.13 FUEL OIL OUTRIGHT – USGC HSFO (PLATTS) FUTURE

Product Name Fuel Oil Outright – USGC HSFO (Platts) Future

Description A monthly cash settled future based on the Platts daily assessment price for 

US Gulf Coast High Sulphur Fuel Oil.

Contract Symbol RBO

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 A price in USD and cents per barrel based on the average of the “Mid” 

quotations appearing in the “Platts US Marketscan” under the heading “Gulf 

Coast” subheading “Houston and “$/barrel” for “USGC HSFO” for each 

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

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.14 FUEL OIL OUTRIGHT – USGC HSFO (PLATTS) BALMO FUTURE

Product Name Fuel Oil Outright – USGC HSFO (Platts) Balmo Future

Contract Description A balance of the month cash settled future based on the Platts daily 

assessment price for US Gulf Coast High Sulphur Fuel Oil.

Contract Symbol RBP

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One cent ($0.01) per barrel

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 A price in USD and cents per barrel based on the average of the “Mid” 

quotations appearing in the “Platts US Marketscan” under the heading “Gulf 

Coast” subheading “Houston and “$/barrel” for “USGC HSFO” for each 

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

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.15 DIESEL OUTRIGHT – GULF COAST ULSD FUTURE

Product Name Diesel Outright – Gulf Coast ULSD Future

Contract Description A monthly cash settled future based on the Platts daily assessment price for 

Gulf Coast Ultra Low Sulfur Diesel.

Contract Symbol GUU

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the mean of the 

high and low quotations appearing in the “Platts US Marketscan” under the 

heading “Gulf Coast” subheading “Distillates and blendstocks” and 

“Pipeline” for “Ultra low sulfur diesel” for each business day (as specified 

below) in the determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.16 DIESEL OUTRIGHT – GULF COAST EXPORT ULSD (PLATTS) FUTURE

Product Name Diesel Outright – Gulf Coast Export ULSD (Platts) Future

Contract Description A monthly cash settled future based on the Platts daily assessment price for 

Gulf Coast Export Ultra Low Sulfur Diesel.

Contract Symbol GUE

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the “Mid” 

quotations appearing in the “Platts US Marketscan” under the heading “Gulf 

Coast” subheading “Houston” and “FOB Cargo (c/gal)” for “Export ULSD” 

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

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.17 GASOLINE OUTRIGHT – RBOB GASOLINE 1ST LINE FUTURE

Product Name Gasoline Outright – RBOB Gasoline 1st Line Future

Contract Description A monthly cash settled future based on the daily settlement price for 

NYMEX RBOB Gasoline Futures.

Contract Symbol RBS

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the settlement 

prices as made public by NYMEX for the front month RBOB Gasoline 

Future for the month of production.

Contract Series Up to 62 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.18 GASOLINE OUTRIGHT – RBOB GASOLINE 1ST LINE BALMO FUTURE

Product Name Gasoline Outright – RBOB Gasoline 1st Line Balmo Future

Contract Description A balance of the month cash settled future based on the daily settlement price 

for RBOB Gasoline Futures.

Contract Symbol RSE

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the settlement 

prices as made public by NYMEX for the front month RBOB Gasoline 

Futures contract for the month of production.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.19 GASOLINE OUTRIGHT – RBOB GASOLINE 1ST LINE MINI FUTURE

Product Name Gasoline Outright – RBOB Gasoline 1st Line Mini Future

Contract Description A monthly cash settled mini future based on the daily settlement price for 

RBOB Gasoline Futures

Contract Symbol RBM

Contract Size 100 barrels (4,200 gallons)

Unit of Trading Any multiple of 100 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the settlement 

prices as made public by NYMEX for the front month RBOB Gasoline 

Futures contract for the month of production

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.20 HEATING OIL OUTRIGHT – HEATING OIL 1ST LINE FUTURE

Product Name Heat Oil Outright – Heating Oil 1st Line Future

Contract Description A monthly cash settled future based on the daily settlement price for 

NYMEX NY Harbor ULSD Futures.

Contract Symbol HOF

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the settlement 

prices as made public by NYMEX for the front month New York Harbor 

ULSD Future for the month of production.

Contract Series Up to 62 consecutive calendar months, or as otherwise determined by the 

Exchange.

Final Payment Date Two Clearing House Business Days following the Last Trading Day.

business days Publication days for NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.21 HEATING OIL OUTRIGHT – HEATING OIL 1ST LINE MINI FUTURE

Product Name Heating Oil Outright – Heating Oil 1st Line Mini Future

Contract Description A monthly cash settled mini future based on the daily settlement price for 

Heating Oil Futures

Contract Symbol HOM

Contract Size 100 barrels (4,200 gallons)

Unit of Trading Any multiple of 100 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the settlement 

prices as made public by NYMEX for the front month New York Harbor 

ULSD Heating Oil Futures contract for the month of production

Contract Series Up to 48 consecutive calendar months, or as otherwise determined by the 

Exchange.

Final Payment Date Two Clearing House Business Days following the Last Trading Day

business days Publication days for NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.22 JET FUEL OUTRIGHT – GULF COAST JET FUEL FUTURE

Product Name Jet Fuel Outright – Gulf Coast Jet Fuel Future

Contract Description A monthly cash settled future based on the Platts daily assessment price for 

Gulf Coast Jet 54 Pipeline.

Contract Symbol JCF

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the mean of the 

high and low quotations appearing in the "Platts US Marketscan" under the 

heading "Gulf Coast" subheading "Distillates and blendstocks" and 

“Pipeline” for "Jet 54" for each business day (as specified below) in the 

determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.23 JET FUEL OUTRIGHT – GULF COAST JET FUEL (PLATTS) BALMO FUTURE

Product Name Jet Fuel Outright – Gulf Coast Jet Fuel (Platts) Balmo Future

Contract Description A balance of the month cash settled future based on the Platts daily 

assessment price for Gulf Coast Jet 54 Pipeline.

Contract Symbol JCG

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price 

Quotation

One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the “Mid” 

quotations appearing in the “Platts US Marketscan” under the heading “Gulf 

Coast” subheading “Houston” and “Prompt Pipeline” for “Jet 54” for each 

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

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.24 JET FUEL OUTRIGHT – GULF COAST JET FUEL (PLATTS) MINI FUTURE

Product Name Jet Fuel Outright – Gulf Coast Jet Fuel (Platts) Mini Future

Contract Description A monthly cash settled mini future based on the Platts daily assessment price 

for Gulf Coast Jet 54 Pipeline

Contract Symbol GCJ

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price 

Quotation

One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the mean of the 

high and low quotations appearing in the "Platts US Marketscan" under the 

heading "Gulf Coast" subheading "Distillates and blendstocks" and 

“Pipeline” for "Jet 54" for each business day (as specified below) in the 

determination period

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.26 ETHANOL OUTRIGHT – CHICAGO ETHANOL FUTURE

Product Name Ethanol Outright – Chicago Ethanol Future

Contract Description A monthly cash settled future based on the Platts daily price quotations for 

Chicago Ethanol (terminal).

Contract Symbol ETC

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the average of the mean of the 

high and low quotations from Platts for Chicago Ethanol (terminal) for each 

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

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.A.27 CRUDE OUTRIGHT—DAILY EU-STYLE WTI FUTURE

Product Name Crude Outright—Daily EU-Style WTI Future 

Description The EU-Style WTI Future is used for the purposes of settling the Daily EUStyle WTI Option.

Contract Symbol TDE

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 Trading shall end at the end of the designated settlement period for the ICE 

WTI Crude Futures contract on the business day that it was listed on. 

Final Settlement Price A price in USD and cents per barrel equal to the Settlement Price of the ICE 

WTI Bullet Future on the Last Trading Day. 

Contract Series Daily contract listed for 1 day, or as otherwise determined by the Exchange.

Final Payment Dates One Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19-see IFUS website

19.A.28 RESERVED

19.A.29 RESERVED
19.A.30 Biofuel Outright - D6 RINs (OPIS) Future

Description: A monthly cash settled future based on the OPIS daily assessment price for Physically 

Delivered D6 RINs.

Contract Symbol: RIN

Contract Size: 50,000 RINs

Unit of Trading: Any multiple of 50,000 RINs

Currency: US Dollars and cents

Trading Price Quotation: One hundredth of one cent ($0.0001) per RIN

Settlement Price Quotation: One hundredth of one cent ($0.0001) per RIN

Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per RIN

Last Trading Day: Last business day of contract month

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

cents per RIN based on the average of the mean of the high and low quotations appearing in the 

"OPIS Ethanol & Gasoline Component Spot Market Prices" report under the heading "US RINs" 

subheading "US Ethanol RINs" for “Current Yr” each business day (as specified below) in the 

determination period.

Contract Series: Up to 36 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for OPIS Ethanol and Biodiesel Information Service

MIC Code: IFED

Clearing Venue: ICEU
19.A.31 Diesel Outright - Diesel EIA Flat Tax On-Highway Future

Description: A monthly cash settled future based on the Diesel EIA Flat Tax On-Highway

Contract Symbol: EIT

Contract Size: 42,000 gallons

Unit of Trading: Any multiple of 42,000 gallons

Currency: US Dollars and cents

Trading Price Quotation: One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation: One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per gallon

Last Trading Day: Last Trading Day of the contract month

Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using 

price data from a number of sources including spot, forward and derivative markets for both physical 

and financial products.

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

cents per gallon equal to the monthly arithmetic average of the weekly price published by the U.S. 

Department of Energy’s Energy Information Administration ("EIA") Retail On-Highway Diesel 

Prices under the heading "Weekly Retail On-Highway Diesel Prices - Average All Types"

Contract Series: Up to 36 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

business days: Publication days for EIA Petroleum & Other Liquids

MIC Code: IFED

Clearing Venue: ICEU
19.A.32 Biofuel Outright - D4 RINS (OPIS) Future

Description: A monthly cash settled future based on the OPIS daily assessment price for Physically 

Delivered D4 RINs.

Contract Symbol: RIK

Contract Size: 50,000 RINs

Unit of Trading: Any multiple of 50,000 RINs

Currency: US Dollars and cents

Trading Price Quotation: One hundredth of one cent ($0.0001) per RIN

Settlement Price Quotation: One hundredth of one cent ($0.0001) per RIN

Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per RIN

Last Trading Day: Last business day of contract month

Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using 

price data from a number of sources including spot, forward and derivative markets for both physical 

and financial products.

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

cents per RIN based on the average of the mean of the high and low quotations appearing in the 

"OPIS Ethanol & Gasoline Component Spot Market Prices" report under the heading "US RINs" 

subheading "US Biodiesel RINs" for “Current Yr” each business day (as specified below) in the 

determination period.

Contract Series: Up to 36 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

business days: Publication days for OPIS Ethanol and Biodiesel Information Service

MIC Code: IFED

Clearing Venue: ICEU
19.A.33 Biodiesel Outright - D4 RINS (OPIS) Previous Year Future

Description: A monthly cash settled future based on the OPIS daily assessment price for Physically 

Delivered D4 RINs for the Previous Year.

Contract Symbol: RIL

Contract Size: 50,000 RINs

Unit of Trading: Any multiple of 50,000 RINs

Currency: US Dollars and cents

Trading Price Quotation: One hundredth of one cent ($0.0001) per RIN

Settlement Price Quotation: One hundredth of one cent ($0.0001) per RIN

Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per RIN

Last Trading Day: Last business day of contract month

Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using 

price data from a number of sources including spot, forward and derivative markets for both physical 

and financial products.

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

cents per RIN based on the average of the mean of the high and low quotations appearing in the 

"OPIS Ethanol & Gasoline Component Spot Market Prices" report under the heading "US RINs" 

subheading "US Biodiesel RINs" for “Previous Yr” each business day (as specified below) in the 

determination period.

Contract Series: Up to 36 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

business days: Publication days for OPIS Ethanol and Biodiesel Information Service

MIC Code: IFED

Clearing Venue: ICEU
19.A.34 Gasoline Outright - D6 RINS (OPIS) Previous Year Future

Description: A monthly cash settled future based on the OPIS daily assessment price for Physically 

Delivered D6 RINs for the Previous Year.

Contract Symbol: RIO

Contract Size: 50,000 RINs

Unit of Trading: Any multiple of 50,000 RINs

Currency: US Dollars and cents

Trading Price Quotation: One hundredth of one cent ($0.0001) per RIN

Settlement Price Quotation: One hundredth of one cent ($0.0001) per RIN

Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per RIN

Last Trading Day: Last business day of contract month

Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using 

price data from a number of sources including spot, forward and derivative markets for both physical 

and financial products.

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

cents per RIN based on the average of the mean of the high and low quotations appearing in the 

"OPIS Ethanol & Gasoline Component Spot Market Prices" report under the heading "US RINs" 

subheading "US Ethanol RINs" for “Previous Yr” each business day (as specified below) in the 

determination period.

Contract Series: Up to 36 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

business days: Publication days for OPIS Ethanol and Biodiesel Information Service

MIC Code: IFED

Clearing Venue: ICEU
19.A.35 Fuel Oil Outright - Marine Fuel 0.5% FOB USGC Barges (Platts) Future 

Description: A monthly cash settled future based on the Platts daily assessment price for 0.5% FOB 

US Gulf Coast Barges Marine Fuel.

Contract Symbol: MF1

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

Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using 

price data from a number of sources including spot, forward and derivative markets for both physical 

and financial products.

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 “$/barrel” quotations appearing in the “Platts US 

Marketscan” under the heading “Marine Fuel” for “0.5% FOB US Gulf Coast barge" for each 

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

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Day in the 

determination period.

Business Days: Publication days for Platts US Marketscan

MIC Code: IFED

Clearing Venue: ICEU
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, or as otherwise determined by the Exchange.

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
19.A.38 Heating Oil Outright - NYH ULSHO 1st Line Future

Description: A monthly cash settled future based on the daily settlement price for ICE NY ULSHO 

Futures.

Contract Symbol: NYF

Contract Size: 1,000 barrels (42,000 gallons)

Unit of Trading: Any multiple of 1,000 barrels

Currency: US Dollars and cents

Trading Price Quotation: One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation: One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per gallon

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 gallon based on the average of the settlement prices as made public by ICE for the front 

month NYH ULSHO Future for the month of production.

Contract Series: Up to 62 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: ICE Business Days

MIC Code: IFED

Clearing Venue: ICEU
19.A.40 Crude Outright - Argus WTI Houston Future

Description: A monthly cash settled future based on the Argus daily assessment price for WTI 

Houston (1st Month).

Contract Symbol: AFW

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 quotations appearing in the "Argus Crude" report under 

the heading "US Gulf Coast and Midcontinent", subheading “Weighted Average” for "WTI Houston” 

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

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: Publication days for Argus Crude

MIC Code: IFED

Clearing Venue: ICEU
19.A.41 Crude Outright - WTI Cushing Trade Month Future

Description: A trade month cash settled future based on the daily settlement price for WTI Futures.

Contract Symbol: WTC

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: Trading shall cease at the close of trading on the last business day that falls on or 

before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a 

weekend or holiday, trading shall cease on the first business day prior to the 25th calendar day

Final Settlement: 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 NYMEX for the front 

month WTI Futures contract for each business day (as specified below) in the determination period.

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: ICE Business Days

MIC Code: IFED

Clearing Venue: ICEU
19.A.42 Fuel Oil Outright - Marine Fuel 0.5% Delivered US Atlantic Coast Barges (Platts) 

Future (in MTs)

Description: A monthly cash settled future based on the Platts daily assessment price for 0.5% 

Delivered US Atlantic Coast Marine Fuel barges.

Contract Symbol: MFJ

Contract Size: 1,000 MT

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

Currency: US Dollars and cents

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

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 tonnes based on the average “$/MT” quotations appearing in the “Platts US 

Marketscan” under the heading “Marine Fuel” for “0.5% Dlvd US Atlantic Coast barge” for each 

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

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Platts US Marketscan

MIC Code: IFED

Clearing Venue: ICEU
19.A.43 Fuel Oil Outright - Marine Fuel 0.5% Delivered US Atlantic Coast Barges (Platts) 

Balmo Future (in MTs)

Description: A balance of the month cash settled future based on the Platts daily assessment price for 

0.5% Delivered US Atlantic Coast Marine Fuel barges.

Contract Symbol: MFK

Contract Size: 1,000 metric tonnes

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

Currency: US Dollars and cents

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

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 “$/MT” quotations appearing in the “Platts US 

Marketscan” under the heading “Marine Fuel” for “0.5% Dlvd US Atlantic Coast barge” for each 

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

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

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Platts US Marketscan

MIC Code: IFED

Clearing Venue: ICEU
19.A.44 Fuel Oil Outright - Marine Fuel 0.5% FOB USGC Barges (Platts) Balmo Future (in 

MTs)

Description: A balance of the month cash settled future based on the Platts daily assessment price for 

Marine Fuel 0.5% FOB US Gulf Coast Barges.

Contract Symbol: MFL

Contract Size: 1,000 metric tonnes

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

Currency: US Dollars and cents

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

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 “$/MT” quotations appearing in the “Platts US 

Marketscan” under the heading “Marine Fuel” for “0.5% FOB US Gulf Coast barge" for each 

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

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

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Platts US Marketscan

MIC Code: IFED

Clearing Venue: ICEU
19.A.45 Fuel Oil Outright - Marine Fuel 0.5% FOB USGC Barges (Platts) Mini Future (in MTs)

Description: A monthly cash settled mini future based on the Platts daily assessment price for 0.5% 

FOB US Gulf Coast Barges Marine Fuel.

Contract Symbol: MFQ

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 “$/MT” quotations appearing in the “Platts US 

Marketscan” under the heading “Marine Fuel” for “0.5% FOB US Gulf Coast barge" for each 

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

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Platts US Marketscan

MIC Code: IFED

Clearing Venue: ICEU
19.A.46 Fuel Oil Outright - Marine Fuel 0.5% FOB USGC Barges (Platts) Future (in MTs)

Description: A monthly cash settled future based on the Platts daily assessment price for 0.5% FOB 

US Gulf Coast Barges Marine Fuel. 

Contract Symbol: MF9

Contract Size: 1,000 metric tonnes

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

Currency: US Dollars and cents

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

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 tonnes based on the average of the “$/MT” quotations appearing in the “Platts US 

Marketscan” under the heading “Marine Fuel” for “0.5% FOB US Gulf Coast barge" for each 

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

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Day in the 

determination period.

Business Days: Publication days for Platts US Marketscan

MIC Code: IFED

Clearing Venue: ICEU
19.A.50 Fuel Oil Outright - Marine Fuel 0.5% FOB USGC Barges (Platts) Balmo Future

Description: A balance of the month cash settled future based on the Platts daily assessment price for 

0.5% FOB US Gulf Coast Barges Marine Fuel.

Contract Symbol: RBT

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 “$/barrel” quotations appearing in the “Platts US 

Marketscan” under the heading “Marine Fuel” for “0.5% FOB US Gulf Coast barge" for each 

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

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

Final Payment Dates: Two Clearing House Business Days following the Last Day in the 

determination period.

business days: Publication days for Platts US Marketscan

MIC: IFED

Clearing Venue: ICEU
DIESEL CRACK – GULF COAST ULSD VS WTI 1ST LINE FUTURE

Product Name

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast Ultra Low Sulfur Diesel and the ICE daily 

settlement price for WTI 1st Line Future.

Contract Symbol GUW

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 hundredth of one cent ($0.0001) per barrel

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Distillates and 

blendstocks” and “Pipeline” for “Ultra low sulfur diesel” and the average of 

the settlement prices as made public by ICE for the front month WTI 1st Line 

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

conversion factor: 1,000 barrels = 42,000 gallons.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
DIESEL CRACK – GULF COAST ULSD VS BRENT 1ST LINE FUTURE

Product Name Diesel Crack – Gulf Coast ULSD vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Gulf Coast Ultra Low Sulfur Diesel and the ICE 

daily settlement price for Brent 1st Line Future.

Contract Symbol GUV

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 hundredth of one cent ($0.0001) per barrel

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts 

US Marketscan” under the heading “Gulf Coast” subheading “Distillates and 

blendstocks” and “Pipeline” for “Ultra low sulfur diesel” and the average of 

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

Europe Brent 1st Line Future for each business day (as specified below) in the 

determination period.

conversion factor: 1,000 barrels = 42,000 gallons.

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures 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 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
FUEL OIL CRACK – NEW YORK 1% FUEL OIL VS BRENT 1ST LINE FUTURE

Product Name Fuel Oil Crack – New York 1% Fuel Oil vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the difference the Platts daily 

assessment price for New York 1% Fuel Oil and the ICE daily settlement 

price for Brent 1st Line Future.

Contract Symbol NFB

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 A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the 

“Platts US Marketscan” under the heading “Atlantic Coast New York” 

subheading “Residual fuel ($/bbl)” and “Cargo” for “No. 6 1%” and the 

average of the settlement prices as made public by ICE for the front 

month ICE Futures Europe Brent 1st Line Future for each business day (as 

specified below) in the determination period.

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures 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 48 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
FUEL OIL CRACK – NEW YORK 1% FUEL OIL VS WTI 1ST LINE FUTURE

Product Name Fuel Oil Crack – New York 1% Fuel Oil vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference the Platts daily 

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

for ICE WTI 1st Line Future.

Contract Symbol FOK

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 A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the 

“Platts US Marketscan” under the heading “Atlantic Coast New York” 

subheading “Residual fuel ($/bbl)” and “Cargo” for “No. 6 1%” and the 

average of the settlement prices as made public by ICE for the front 

month ICE WTI 1st Line Future contract for each business day (as 

specified below) in the determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
FUEL OIL CRACK – NEW YORK 1% FUEL OIL VS WTI 1ST LINE BALMO FUTURE

Product Name Fuel Oil Crack – New York 1% Fuel Oil vs WTI 1st Line Balmo 

Future

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

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

settlement price for ICE WTI 1st Line Future.

Contract Symbol FOL

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 A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the 

“Platts US Marketscan” under the heading “Atlantic Coast New York” 

subheading “Residual fuel ($/bbl)” and “Cargo” for “No. 6 1%” and the 

average of the settlement prices as made public by ICE for the front 

month ICE WTI 1st Line Future contract for each business day (as 

specified below) in the determination period.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
FUEL OIL CRACK – USGC HSFO (PLATTS) VS BRENT 1ST LINE FUTURE

Product Name Fuel Oil Crack – USGC HSFO (PLATTS) vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

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

ICE settlement price for Brent 1st Line Future.

Contract Symbol GCS

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 A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

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

“USGC HSFO” and the average of the settlement prices as made public 

by ICE for the front month ICE Futures Europe Brent Crude Future for 

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

Non-Common Pricing applies.

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures 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 48 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
FUEL OIL CRACK – USGC HSFO (PLATTS) VS BRENT 1ST LINE BALMO FUTURE

Product Name Fuel Oil Crack – USGC HSFO (Platts) vs Brent 1st Line Balmo 

Future

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

between the Platts daily assessment price for US Gulf Coast High Sulphur 

Fuel Oil and the ICE settlement price for Brent 1st Line Future.

Contract Symbol GCT

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 A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

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

“USGC HSFO” and the average of the settlement prices as made public 

by ICE for the front month ICE Futures Europe Brent Crude Future for 

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

Non-Common Pricing applies.

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be 

used except for the expiration date of the commodity’s underlying 

delivery month’s futures contract. On such date, the applicable pricing 

quotation will be rolled to the following month’s futures contract.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
FUEL OIL CRACK – USGC HSFO (PLATTS) VS WTI 1ST LINE FUTURE

Product Name Fuel Oil Crack – USGC HSFO (Platts) vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

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

ICE settlement price for WTI 1st Line Future.

Contract Symbol GUF

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 A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

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

“USGC HSFO” and the average of the settlement prices as made public 

by NYMEX for the front month WTI Future for each business day (as 

specified below) in the determination period.

Common Pricing applies.

Contract Series Up to 48 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
GASOLINE CRACK – RBOB GASOLINE 1ST LINE VS BRENT 1ST LINE FUTURE (IN BBLS)

Product Name Gasoline Crack – RBOB Gasoline 1st Line vs Brent 1st Line Future (in 

Bbls)

Contract Description A monthly cash settled future based on the difference between the ICE 

settlement price for RBOB Gasoline 1

st Line Future and the ICE settlement 

price for Brent 1st Line Future (in bbls).

Contract Symbol RBR

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One tenth of one cent ($0.001) 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 Last trading day of the contract month

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by NYMEX for the front 

month RBOB Gasoline Future and the average of the settlement prices as 

made public by ICE for the front month ICE Futures Europe Brent Crude 

Future for each business day (as specified below) in the determination 

period.

Non-Common Pricing applies.

conversion factor: 1 barrel = 42 gallons

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures 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 62 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
GASOLINE CRACK – RBOB GASOLINE 1ST LINE VS BRENT 1ST LINE BALMO FUTURE 

(IN BBLS)

Product Name Gasoline Crack – RBOB Gasoline 1st Line vs Brent 1st Line Balmo 

Future (in Bbls)

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

the ICE settlement price for RBOB Gasoline 1st Line Future and the ICE 

settlement price for Brent 1st Line Future (in bbls).

Contract Symbol RBQ

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One tenth of one cent ($0.001) 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 Last trading day of the contract month

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by NYMEX for the front 

month RBOB Gasoline Future and the average of the settlement prices as 

made public by ICE for the front month ICE Futures Europe Brent Crude 

Future for each business day (as specified below) in the determination 

period.

Non-Common Pricing applies.

conversion factor: 1 barrel = 42 gallons

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be 

used except for the expiration date of the commodity’s underlying delivery 

month’s futures contract. On such date, the applicable pricing quotation 

will be rolled to the following month’s futures contract.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
GASOLINE CRACK – RBOB GASOLINE 1ST LINE VS WTI 1ST LINE FUTURE (IN BBLS)

Product Name Gasoline Crack – RBOB Gasoline 1st Line vs WTI 1st Line Future (in 

Bbls)

Contract Description A monthly cash settled future based on the difference between the ICE 

settlement price for RBOB Gasoline 1st Line Future and the ICE 

settlement price for WTI 1st Line Future (in bbls).

Contract Symbol RBW

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One tenth of one cent ($0.001) 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 Last trading day of the contract month

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by NYMEX for the front 

month RBOB Gasoline Future and the average of the settlement prices as 

made public by NYMEX for the front month WTI Future for each 

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

conversion factor: 1 barrel = 42 gallons.

Contract Series Up to 60 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
HEATING OIL CRACK – HEATING OIL 1ST LINE VS BRENT 1ST LINE FUTURE (IN BBLS)

Product Name Heating Oil Crack – Heating Oil 1st Line vs Brent 1st Line Future (in 

Bbls)

Contract Description A monthly cash settled future based on the difference between the ICE 

settlement price for Heating Oil 1st Line Future and the ICE settlement 

price for Brent 1st Line Future (in bbls).

Contract Symbol HBT

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 Last trading day of the contract month

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by NYMEX for the front 

month NY Harbor ULSD Future and the average of the settlement prices 

as made public by ICE for the front month ICE Futures Europe Brent 

Crude Future for each business day (as specified below) in the 

determination period.

Non-Common Pricing applies.

conversion factor: 1 barrel = 42 gallons

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures 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 62 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
HEATING OIL CRACK – HEATING OIL 1ST LINE VS WTI 1ST LINE FUTURE

Product Name Heating Oil Crack – Heating Oil 1st Line vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference between the daily 

settlement price for Heating Oil 1st Line Future and the daily settlement 

price for WTI 1st Line Future.

Contract Symbol HBW

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 Last business day of the contract month

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by ICE for the front 

month Heating Oil 1st Line Future and the average of the settlement prices 

as made public by ICE for the front month WTI 1st Line Future for each 

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

conversion factor: 1 barrel = 42 gallons

Contract Series Up to 60 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
JET FUEL CRACK – GULF COAST JET FUEL VS BRENT 1ST LINE FUTURE

Product Name Jet Fuel Crack – Gulf Coast Jet Fuel vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Gulf Coast Jet 54 Pipeline and the ICE daily 

settlement price for Brent 1st Line Future.

Contract Symbol GUB

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 A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the 

“Platts US Marketscan” under the heading “Gulf Coast” subheading 

“Distillates and blendstocks” and “Pipeline” for “Jet 54” and the average 

of the settlement prices as made public by ICE for the front month ICE 

Futures Europe Brent 1st Line Future for each business day (as specified 

below) in the determination period.

conversion factor: 1 barrel = 42 gallons

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures 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 48 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
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, or as otherwise determined by the Exchange.

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
19.B.16 Heating Oil Crack - NYH ULSHO 1st Line vs Brent 1st Line Future (in Bbls)

Description: A monthly cash settled future based on the difference between the ICE settlement price 

for NYH ULSHO 1st Line Future and the ICE settlement price for Brent 1st Line Future (in bbls).

Contract Symbol: NYH

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: 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 settlement prices as made public 

by ICE for the front month NYH ULSHO Future and the average of the settlement prices as made 

public by ICE for the front month Brent Crude Future for each business day (as specified below) in 

the determination period. 

conversion factor: 1 barrel = 42 gallons

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, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: ICE Business Days

MIC Code: IFED

Clearing Venue: ICEU
19.B.17 Heating Oil Crack - NYH ULSHO 1st Line vs WTI 1st Line Future (in Bbls)

Description: A monthly cash settled future based on the difference between the settlement price for 

NYH ULSHO 1st Line Future and the settlement price for WTI 1st Line Future.

Contract Symbol: NYW

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: 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 settlement prices as made public 

by ICE for the front month NYH ULSHO Future and the average of the settlement prices as made 

public by ICE for the front month WTI Future for each business day (as specified below) in the 

determination period. 

conversion factor: 1 barrel = 42 gallons

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: ICE Business Days

MIC Code: IFED

Clearing Venue: ICEU
19.B.18 Heating Oil Crack - NYH ULSHO 1st Line vs Permian WTI 1st Line Future (in Bbls)

Description: A monthly cash settled future based on the difference between the settlement price for 

NYH ULSHO 1st Line Future and the settlement price for Permian WTI 1st Line Future.

Contract Symbol: NYP

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: 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 settlement prices as made public 

by ICE for the front month NYH ULSHO Future and the average of the settlement prices as made 

public by ICE for the front month Permian WTI Future for each business day (as specified below) in 

the determination period.

conversion factor: 1 barrel = 42 gallons

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: ICE Business Days

MIC Code: IFED

Clearing Venue: ICEU
19.C.1 CRUDE DIFF – ARGUS WCS (CUSHING) CRUDE OIL TRADE MONTH FUTURE

Product Name Crude Diff – Argus WCS (Cushing) Crude Oil Trade Month Future

Contract Description A cash settled future based on the Argus daily assessment price for WCS 

(Western Canadian Select) basis Cushing. The Argus WCS (Cushing) Crude 

Oil Trade Month Future is expressed as a differential to WTI Calendar 

Month Average (CMA NYMEX).

Company Symbol CSH

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract month. 

If the 25th calendar day is a weekend or holiday, trading shall cease on the 

first business day prior to the 25th calendar day.

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 “Diff weighted average” 

quotations appearing in the “Argus Crude” report under the heading “US 

Gulf Coast and Midcontinent”, subheading “Midcontinent” for “WCS

Cushing”, basis “CMA Nymex” for each business day (as specified below) 

in the determination period.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.2 CRUDE DIFF – ARGUS LLS VS BRENT 1ST LINE FUTURE

Product Name Crude Diff – Argus LLS vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for Light Louisiana Sweet Crude Oil (1st Month) 

and the ICE daily settlement price for Brent 1st Line Future.

Company Symbol ARI

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “LLS” and the average of 

the settlement prices as made public by ICE for the ICE Futures Europe

Brent 1st Line Future for each business day (as specified below) in the 

determination period.

Non-Common Pricing Applies.

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.3 CRUDE DIFF – ARGUS LLS VS WTI 1ST LINE FUTURE

Product Name Crude Diff – Argus LLS vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for Light Louisiana Sweet Crude Oil (1st Month) 

and the ICE daily settlement price for WTI 1st Line Future.

Company Symbol ARK

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “LLS” and the average of 

the settlement prices as made public by ICE for the ICE WTI 1st Line 

Future for each business day (as specified below) in the determination 

period.

Common Pricing applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.4 CRUDE DIFF – ARGUS LLS VS WTI TRADE MONTH FUTURE

Product Name Crude Diff – Argus LLS vs WTI Trade Month Future

Contract Description A cash settled future based on the difference between the Argus daily 

assessment price for Light Louisiana Sweet Crude Oil (1st Month) and the 

Argus daily assessment price for WTI Formula Basis (1st Month).

Company Symbol ARL

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract 

month. If the 25th calendar day is a weekend or holiday, trading shall 

cease on the first business day prior to the 25th calendar day.

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline”, 

subheading “Diff” for “LLS” for each business day (as specified below) in 

the determination period.

The determination period shall be the trade month period beginning with 

the first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th 

calendar day of the month prior to the contract month. If the 25th calendar 

day is a weekend or holiday, the trade month period shall end on the first 

business day prior to the 25th calendar day.

Common Pricing applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.5 CRUDE DIFF – ARGUS MARS VS WTI 1ST LINE FUTURE

Product Name Crude Diff – Argus Mars vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for Mars Crude Oil (1st Month) and the ICE daily 

settlement price for WTI 1st Line Future.

Company Symbol ARO

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “Mars” and the average of 

the settlement prices as made public by ICE for the WTI 1st Line Future for 

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

Common Pricing applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.6 ARGUS MARS VS WTI TRADE MONTH FUTURE

Product Name Argus Mars vs WTI Trade Month Future

Contract Description A cash settled future based on the difference between the Argus daily 

assessment price for Mars Crude Oil (1

st Month) and the Argus daily 

assessment price for WTI Formula Basis (1

st Month)

Company Symbol ARW

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract 

month. If the 25th calendar day is a weekend or holiday, trading shall 

cease on the first business day prior to the 25th calendar day

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline”, 

subheading “Diff” for “Mars” for each business day (as specified below) in 

the determination period.

The determination period shall be the trade month period beginning with 

the first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th 

calendar day of the month prior to the contract month. If the 25th calendar 

day is a weekend or holiday, the trade month period shall end on the first 

business day prior to the 25th calendar day.

Common Pricing applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.7 CRUDE DIFF – ARGUS MARS VS BRENT 1ST LINE FUTURE

Product Name Crude Diff – Argus Mars vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for Mars Crude Oil (1st Month) and the ICE daily 

settlement price for Brent 1st Line Future.

Company Symbol ARN

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “Mars” and the average of 

the settlement prices as made public by ICE for the ICE Futures Europe 

Brent 1st Line Future for each business day (as specified below) in the 

determination period.

Non-Common Pricing Applies.

Roll Adjust Provision The nearby month settlement quotation for ICE Futures Europe Brent 

Futures 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.8 CRUDE DIFF – ARGUS WTI CMA TRADE MONTH FUTURE

Product Name Crude Diff – Argus WTI CMA Trade Month Future

Contract Description A cash settled future based on the Argus daily assessment price for Argus 

WTI vs NYMEX WTI CMA

Company Symbol AIM

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract month. 

If the 25th calendar day is a weekend or holiday, trading shall cease on the 

first business day prior to the 25th calendar day.

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US Gulf Coast 

And Midcontinent” subheading “WTI” and “Diff weighted average” for 

“WTI Diff to CMA NYMEX” for each business day (as specified below) in 

the determination period.

The determination period shall be the trade month period beginning with 

the first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th 

calendar day of the month prior to the contract month. If the 25th calendar 

day is a weekend or holiday, the trade month period shall end on the first 

business day prior to the 25th calendar day.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.9 CRUDE DIFF – ARGUS WTS VS WTI 1ST LINE FUTURE

Product Name Crude Diff – Argus WTS vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for WTS (1st Month) and the ICE daily settlement 

price for WTI 1st Line Future.

Company Symbol AFH

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “Gulf Coast and Midcontinent Domestic”, subheading “Weighted 

average” for “WTS” (1st month) and the average of the settlement prices as 

made public by ICE for the ICE WTI 1st Line Future for each business day 

(as specified below) in the determination period.

Common Pricing applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.10 CRUDE DIFF – ARGUS WTS VS WTI TRADE MONTH FUTURE

Product Name Crude Diff – Argus WTS vs WTI Trade Month Future

Contract Description A cash settled future based on the difference between the Argus daily 

assessment price for WTS (1st Month) and the Argus daily assessment price 

for WTI Formula Basis (1st Month)

Company Symbol AVT

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract month. 

If the 25th calendar day is a weekend or holiday, trading shall cease on the 

first business day prior to the 25th calendar day

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “Gulf Coast and 

Midcontinent Domestic”, subheading “Diff weighted average” for “WTS” 

(1st month), for each business day (as specified below) in the determination 

period.

The determination period shall be the trade month period beginning with 

the first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th 

calendar day of the month prior to the contract month. If the 25th calendar 

day is a weekend or holiday, the trade month period shall end on the first 

business day prior to the 25th calendar day.

Common Pricing applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.11 CRUDE DIFF – ARGUS WTI MIDLAND VS WTI 1ST LINE FUTURE

Product Name Crude Diff – Argus WTI Midland vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for WTI Midland (1st Month) and the ICE daily 

settlement price for WTI 1st Line Future

Company Symbol MLT

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “WTI”, subheading “Weighted average” for “WTI Midland” and 

the average of the settlement prices as made public by ICE for the ICE 

WTI 1st Line Future for each business day (as specified below) in the 

determination period.

Common Pricing applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.13 CRUDE DIFF – ARGUS WTI MIDLAND VS ARGUS WTS TRADE MONTH FUTURE

Product Name Crude Diff – Argus WTI Midland vs Argus WTS Trade Month Future

Contract Description A cash settled future based on the difference between the Argus daily 

assessment price for WTI Midland (1st Month) and the Argus daily 

assessment price for WTS (1st Month).

Company Symbol MST

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract month. 

If the 25th calendar day is a weekend or holiday, trading shall cease on the 

first business day prior to the 25th calendar day.

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “WTI” subheading “Weighted average” for “WTI Midland” (1st

Month) and the average of the quotations appearing in the “Argus Crude” 

report under the heading “Gulf coast and midcontinent domestic” 

subheading “Weighted average” for “WTS” (1st Month) for each business 

day (as specified below) in the determination period.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.14 CRUDE DIFF – ARGUS WTI HOUSTON VS WTI 1ST LINE FUTURE

Product Name Argus WTI Houston vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for WTI Houston (1st Month) Weighted Average 

and the daily settlement price for WTI 1st Line Future.

Company Symbol AIL

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “WTI” subheading “Weighted average” for “WTI Houston” (1st

Month) and the average of the settlement prices as made public by ICE for 

the front month ICE WTI 1st Line Future contract for each business day (as 

specified below) in the determination period.

Common Pricing applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.15 CRUDE DIFF – ARGUS WTI HOUSTON VS WTI TRADE MONTH FUTURE

Product Name Crude Diff – Argus WTI Houston vs WTI Trade Month Future

Contract Description A cash settled future based on the Argus daily assessment price for WTI 

Houston (1st Month) Diff weighted average.

Company Symbol ACM

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract month. 

If the 25th calendar day is a weekend or holiday, trading shall cease on the 

first business day prior to the 25th calendar day.

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US Gulf Coast 

And Midcontinent” subheading “WTI” and “Diff weighted average” for 

“WTI Houston” (1st month), for each business day (as specified below) in 

the determination period.

The determination period shall be the trade month period beginning with 

the first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th 

calendar day of the month prior to the contract month. If the 25th calendar 

day is a weekend or holiday, the trade month period shall end on the first 

business day prior to the 25th calendar day.

Common Pricing applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.16 CRUDE DIFF – ARGUS WTI HOUSTON VS ARGUS WTI MIDLAND TRADE MONTH 

FUTURE

Product Name Crude Diff – Argus WTI Houston vs Argus WTI Midland Trade 

Month Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for WTI Houston (1st Month) Weighted Average and 

the Argus daily assessment price for WTI Midland (1st Month) Weighted 

Average.

Company Symbol MSN

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract month. 

If the 25th calendar day is a weekend or holiday, trading shall cease on the 

first business day prior to the 25th calendar day.

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US Gulf Coast and Midcontinent” subheading “WTI” for “WTI 

Houston” (1st Month) Weighted Average and the average of the quotations 

appearing in the “Argus Crude” report under the heading “US Gulf Coast 

and Midcontinent” subheading “WTI” for “WTI Midland” (1st Month) 

Weighted Average for each business day (as specified below) in the 

determination period.

Common Pricing applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.17 CRUDE DIFF – ARGUS SOUR CRUDE INDEX (ASCI) DIFF CALENDAR FUTURE

Product Name Crude Diff – Argus Sour Crude Index (ASCI) Diff Calendar Future

Contract Description A monthly cash settled differential future based on the Argus daily 

assessment price for Sour Crude Index (ASCI) Diff Calendar Future.

Company Symbol TAB

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 A price in USD and cents per barrel based on the average of the daily price 

quotations appearing in the “Argus Crude” report under the heading 

“Argus Sour Crude Index” for “ASCI-Weighted Diff” for each business 

day (as specified below) in the determination period.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.18 CRUDE DIFF – ICE SYN 1A INDEX FUTURE

Product Name Crude Diff – ICE SYN 1A Index Future

Contract Description A monthly cash settled future based on the ICE SYN (Light Sweet 

Synthetic Crude) Monthly Volume Weighted Average Price Index (ICE 

SYN 1a). The ICE SYN 1a Index is expressed as a differential to the 

NYMEX WTI 1st Line Future (Calendar Month Average)

Company Symbol TMS

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 SYN 1a Index, as 

published by NGX. The index pricing period 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.19 CRUDE DIFF – ICE WCS 1B INDEX FUTURE

Product Name Crude Diff – ICE WCS 1B Index Future

Contract Description A monthly cash settled future based on the ICE WCS (Western Canadian 

Select) Daily Weighted Average Price Index (ICE WCS 1b). The ICE 

WCS 1b Index is expressed as a differential to the NYMEX WTI 1st Line 

Future (Calendar Month Average)

Company Symbol TDX

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 WCS 1b Index, as 

published by NGX. The index pricing period 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.20 CRUDE DIFF – ICE WCS 1A INDEX FUTURE

Product Name Crude Diff – ICE WCS 1A Index Future

Contract Description A monthly cash settled future based on the ICE WCS (Western Canadian 

Select) Monthly Volume Weighted Average Price Index (ICE WCS 1a). 

The ICE WCS 1a Index is expressed as a differential to the NYMEX WTI 

1

st Line Future (Calendar Month Average)

Company Symbol TMW

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 WCS 1a Index, as 

published by NGX. The index pricing period 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.21 CRUDE DIFF – ICE SW 1A INDEX FUTURE

Product Name Crude Diff – ICE SW 1A Index Future

Contract Description A monthly cash settled future based on the ICE SW (Sweet Crude) 

Monthly Volume Weighted Average Price Index (ICE SW 1a). The ICE 

SW 1a Index is expressed as a differential to the NYMEX WTI 1st Line

Future (Calendar Month Average)

Company Symbol TMR

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 SW 1a Index, as 

published by NGX. The index pricing period 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.22 CRUDE DIFF – ICE UHC 1A INDEX FUTURE

Product Name Crude Diff – ICE UHC 1A Index Future

Contract Description A monthly cash settled future based on the ICE UHC (Sweet at Clearbrook) 

Monthly Volume Weighted Average Price Index (ICE UHC 1a). The ICE 

UHC 1a Index is expressed as a differential to the NYMEX WTI 1st Line 

Future (Calendar Month Average)

Company Symbol TMU

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 UHC 1a Index, as 

published by NGX. The index pricing period 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.23 CRUDE DIFF – ICE LSB 1A INDEX FUTURE

Product Name Crude Diff – ICE LSB 1A Index Future

Contract Description A monthly cash settled future based on the ICE LSB (Light Sour Blend at 

Superior) Monthly Volume Weighted Average Price Index (ICE LSB 1a). 

The ICE LSB 1a Index is expressed as a differential to the NYMEX WTI 

1

st Line Future (Calendar Month Average).

Company Symbol TML

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 LSB 1a Index, as 

published by NGX. The index pricing period 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 month

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.24 CRUDE DIFF – WTI 1ST LINE VS BRENT 1ST LINE FUTURE

Product Name Crude Diff – WTI 1st Line vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the ICE daily settlement price for 

WTI 1st Line Future and the ICE daily settlement price for Brent 1st Line 

Future.

Company Symbol BTD

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 business day of the contract month

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by ICE for the front month 

WTI 1st Line Future contract and the average of the settlement prices as 

made public by ICE for the front month ICE Futures Europe Brent 1st Line 

Future contract for each business day (as specified below) in the 

determination period.

Roll Adjust Provision The nearby month settlement quotation for ICE Futures Europe Brent 

Crude Futures 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 72 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.25 CONDENSATE DIFF – ICE C5 1A INDEX FUTURE

Product Name Condensate Diff – ICE C5 1A Index Future

Contract Description For contract months up to and including March 2019: A monthly cash 

settled future based on the ICE C5 (Canadian Condensate) Monthly 

Volume Weighted Average Price Index (ICE C5 1a). The ICE C5 1a Index 

is expressed as a differential to the NYMEX WTI 1st Line Future 

(Calendar Month Average). 

For contract months including and after April 2019: A monthly cash settled 

future based on the ICE C5 FSK Monthly Volume Weighted Average 

Price Index (ICE C5 FSK 1a). The ICE C5 FSK 1a Index is expressed as a 

differential to the NYMEX WTI 1st Line Future (Calendar Month 

Average).

Company Symbol TMF

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 1a Index, for 

contract months up to and including March 2019, and based on the ICE C5 

FSK 1a Index for contract months after and including April 2019, as 

published by 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.26 CRUDE DIFF – ARGUS BAKKEN (CLEARBROOK) CRUDE OIL FUTURE

Product Name Crude Diff – Argus Bakken (Clearbrook) Crude Oil Future

Contract Description A monthly cash settled future based on the Argus daily assessment price 

for the Bakken basis Clearbrook. The Argus Bakken (Clearbrook) Crude 

Oil Future is expressed as a differential to the WTI 1st Line Future 

(Calendar Month Average)

Company Symbol BAK

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 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 average of the high and 

low quotations appearing in the “Argus Crude” report under the heading “ 

US Gulf coast and midcontinent pipeline”, subheading “Diff low” and 

“Diff high” for “Bakken”, basis “CMA Nym” for each business day (as 

specified below) in the determination period.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.27 CRUDE DIFF – ARGUS LLS VS DATED BRENT (PLATTS) FUTURE

Product Name Crude Diff – Argus LLS vs Dated Brent (Platts) Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for Light Louisiana Sweet Crude Oil (1st Month) 

and the Platts daily assessment price for Dated Brent.

Company Symbol ARJ

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “LLS” and the average of 

the “Mid” quotations appearing in the “Platts Crude Oil Marketwire” under 

the heading “Key benchmarks ($/barrel)” for “Brent (Dated)” for each 

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

Non-Common Pricing Applies.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude and Platts Crude Oil Marketwire

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.28 CRUDE DIFF – ARGUS LLS VS WTI 1ST LINE BALMO FUTURE

Product Name Crude Diff – Argus LLS vs WTI 1st Line Balmo Future

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

the Argus daily assessment price for Light Louisiana Sweet Crude Oil (1st

Month) and the ICE daily settlement price for WTI 1st Line Future.

Company Symbol ARP

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “LLS” and the average of 

the settlement prices as made public by ICE for the ICE WTI 1st Line 

Future for each business day (as specified below) in the determination 

period.

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.29 CRUDE DIFF – ARGUS LLS VS WTI TRADE MONTH BALMO FUTURE

Product Name Crude Diff – Argus LLS vs WTI Trade Month Balmo Future

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

the Argus daily assessment price for Light Louisiana Sweet Crude Oil (1st

Month) and the Argus daily assessment price for WTI Formula Basis (1st

Month).

Company Symbol ARQ

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract 

month. If the 25th calendar day is a weekend or holiday, trading shall 

cease on the first business day prior to the 25th calendar day.

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline”, 

subheading “Diff” for “LLS” for each business day (as specified below) in 

the determination period.

The average of the LLS (1st month) differential weighted average (Diff 

weighted average) price taken from Argus Media, is based upon the 

weighted average floating price of LLS minus the “WTI Formula Basis” 

price from Argus Media, for the trade month period beginning with the 

first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th 

calendar day of the month prior to the contract month. If the 25th calendar 

day is a weekend or holiday, the trade month period shall end on the first 

business day prior to the 25th calendar day.

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.30 CRUDE DIFF – ARGUS MARS VS WTI 1ST LINE BALMO FUTURE

Product Name Crude Diff – Argus Mars vs WTI 1st Line Balmo Future

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

the Argus daily assessment price for Mars Crude Oil (1st Month) and the 

ICE settlement price for WTI 1st Line Future.

Company Symbol ART

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “Mars” and the average of 

the settlement prices as made public by ICE for the front month WTI 1st 

Line Future for each business day (as specified below) in the determination 

period.

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.31 CRUDE DIFF – ARGUS MARS VS WTI TRADE MONTH BALMO FUTURE

Product Name Crude Diff – Argus Mars vs WTI Trade Month Balmo Future

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

the Argus daily assessment price for Mars Crude Oil (1st Month) and the 

Argus daily assessment price for WTI Formula Basis (1st Month).

Company Symbol ARS

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract 

month. If the 25th calendar day is a weekend or holiday, trading shall 

cease on the first business day prior to the 25th calendar day.

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline”, 

subheading “Diff” for “Mars” for each business day (as specified below) in 

the determination period.

The average of the Mars (1st month) differential weighted average (Diff 

weighted average) price taken from Argus Media, is based upon the 

weighted average floating price of Mars minus the “WTI Formula Basis” 

price from Argus Media, for the Trade month period beginning with the 

first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th 

calendar day of the month prior to the contract month. If the 25th calendar 

day is a weekend or holiday, the Trade month period shall end on the first 

business day prior to the 25th calendar day.

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.32 CRUDE DIFF – ARGUS WTS VS WTI 1ST LINE BALMO FUTURE

Product Name Crude Diff – Argus WTS vs WTI 1st Line Balmo Future

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

the Argus daily assessment price for WTS (1st Month) and the ICE 

settlement price for WTI 1st Line Future.

Company Symbol AFI

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “Gulf coast and midcontinent domestic”, subheading “Weighted 

average” for “WTS” (1st month) and the average of the settlement prices as 

made public by ICE for the front month WTI 1st Line Future for each 

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

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.33 CRUDE DIFF – ARGUS WTS VS WTI TRADE MONTH BALMO FUTURE

Product Name Crude Diff – Argus WTS vs WTI Trade Month Balmo Future

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

the Argus daily assessment price for WTS (1st Month) and the Argus daily 

assessment price for WTI Formula Basis (1st Month).

Company Symbol AVS

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract 

month. If the 25th calendar day is a weekend or holiday, trading shall 

cease on the first business day prior to the 25th calendar day.

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “Gulf coast and 

midcontinent domestic”, subheading “Diff weighted average” for “WTS” 

(1st month), for each business day (as specified below) in the determination 

period.

The average of the WTS (1st month) differential weighted average (Diff 

weighted average) price taken from Argus Media, is based upon the 

weighted average floating price of WTS minus the “WTI Formula Basis” 

price from Argus Media, for the trade month period beginning with the 

first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th 

calendar day of the month prior to the contract month. If the 25th calendar 

day is a weekend or holiday, the trade month period shall end on the first 

business day prior to the 25th calendar day.

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.34 CRUDE DIFF – ARGUS WTI MIDLAND VS WTI 1ST LINE BALMO FUTURE

Product Name Crude Diff – Argus WTI Midland vs WTI 1st Line Balmo Future

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

the Argus daily assessment price for WTI Midland (1st Month) and the ICE 

settlement price for WTI 1st Line Future.

Company Symbol MLU

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “WTI”, subheading “Weighted average” for “WTI Midland” and 

the average of the settlement prices as made public by ICE for the front 

month WTI 1st Line Future for each business day (as specified below) in 

the determination period.

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.35 CRUDE DIFF – ARGUS WTI MIDLAND VS WTI TRADE MONTH BALMO FUTURE

Product Name Crude Diff – Argus WTI Midland vs WTI Trade Month Balmo Future

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

the Argus daily assessment price for WTI Midland (1st Month) and the 

Argus daily assessment price for WTI Formula Basis (1st Month).

Company Symbol MLS

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract 

month. If the 25th calendar day is a weekend or holiday, trading shall 

cease on the first business day prior to the 25th calendar day.

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “WTI”, 

subheading “Diff weighted average” for “WTI Midland” (1st month), for 

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

The average of the WTI Midland (1st month) differential weighted average 

(Diff weighted average) price taken from Argus Media, is based upon the 

weighted average floating price of WTI Midland minus the “WTI Formula 

Basis” price from Argus Media, for the Trade month period beginning with 

the first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th 

calendar day of the month prior to the contract month. If the 25th calendar 

day is a weekend or holiday, the Trade month period shall end on the first 

business day prior to the 25th calendar day.

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.36 CRUDE DIFF – ARGUS WTI HOUSTON VS WTI 1ST LINE BALMO FUTURE

Product Name Crude Diff – Argus WTI Houston vs WTI 1st Line Balmo Future

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

the Argus daily assessment price for WTI Houston (1st Month) Weighted 

Average and the ICE settlement price for WTI 1st Line Future.

Company Symbol AIK

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “WTI” subheading “Weighted average” for “WTI Houston” (1st

Month) and the average of the settlement prices as made public by ICE for 

the front month WTI 1st Line Future contract for each business day (as 

specified below) in the determination period.

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.37 CRUDE DIFF – ARGUS WTI HOUSTON VS WTI TRADE MONTH BALMO FUTURE

Product Name Crude Diff – Argus WTI Houston vs WTI Trade Month Balmo Future

Contract Description A balance of the month cash settled future based on the Argus daily 

assessment price for WTI Houston (1st Month) Diff weighted average.

Company Symbol ACL

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract 

month. If the 25th calendar day is a weekend or holiday, trading shall 

cease on the first business day prior to the 25th calendar day.

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US Gulf Coast 

And Midcontinent” subheading “WTI” and “Diff weighted average” for 

“WTI Houston” (1st month), for each business day (as specified below) in 

the determination period.

The average of the WTI Houston (1st month) differential weighted average 

(Diff weighted average) price taken from Argus Media, is based upon the 

weighted average floating price of WTI Houston minus the “WTI Formula 

Basis” price from Argus Media, for the Trade month period beginning with 

the first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th 

calendar day of the month prior to the contract month. If the 25th calendar 

day is a weekend or holiday, the Trade month period shall end on the first 

business day prior to the 25th calendar day.

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.38 CRUDE DIFF – ARGUS SOUR CRUDE INDEX (ASCI) DIFF TRADE-MONTH FUTURE

Product Name Crude Diff – Argus Sour Crude Index (ASCI) Diff Trade-Month 

Future

Contract Description A monthly cash settled differential future based on the Argus daily 

assessment price for Sour Crude Index (ASCI) Diff Trade-Month Future.

Company Symbol TOB

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 A price in USD and cents per barrel based on the average of the daily price 

quotations appearing in the “Argus Crude” report under the heading “Argus 

Sour Crude Index” for “ASCI-Weighted Diff” for each day that it is 

determined during the trade month.

The trade month begins with the first business day after the 25th calendar 

day two months prior to the contract month through the last day that falls 

on or before the 25th calendar day of the month prior to the contract month. 

If the 25th calendar day is a weekend or a holiday, the trade month period 

shall end on the first business day prior to the 25th calendar day.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.39 CRUDE DIFF – ICE SYN 1B INDEX FUTURE

Product Name Crude Diff – ICE SYN 1B Index Future

Contract Description A monthly cash settled future based on the ICE SYN (Light Sweet 

Synthetic Crude) Daily Weighted Average Price Index (ICE SYN 1b). The 

ICE SYN 1b Index is expressed as a differential to the NYMEX WTI 1st

Line Future (Calendar Month Average)

Company Symbol SYN

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 SYN 1b Index, as 

published by NGX. The index pricing period 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.40 CRUDE DIFF – ICE SW 1A INDEX BALMO FUTURE

Product Name Crude Diff – ICE SW 1A Index Balmo Future

Contract Description A balance of the month cash settled future based on the ICE SW (Sweet) 

Monthly Volume Weighted Average Price Index (ICE SW 1a). The ICE 

SW 1a Index is expressed as a differential to the NYMEX WTI 1st Line 

Future (Calendar Month Average).

Company Symbol TMZ

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 SW 1a Index, as 

published by NGX. The index pricing period 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 Front Month Only, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.41 CRUDE DIFF – ICE UHC 1B INDEX FUTURE

Product Name Crude Diff – ICE UHC 1B Index Future

Contract Description A monthly cash settled future based on the ICE UHC (Sweet at Clearbrook) 

Daily Weighted Average Price Index (ICE UHC 1b). The ICE UHC 1b 

Index is expressed as a differential to the NYMEX WTI 1st Line Future 

(Calendar Month Average)

Company Symbol UHB

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 UHC 1b Index, as 

published by NGX. The index pricing period 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.43 CRUDE DIFF – WTI 1ST LINE VS BRENT 1ST LINE BALMO FUTURE

Product Name Crude Diff – WTI 1st Line vs Brent 1st Line Balmo Future

Contract Description A balance of the month cash settled future based on the ICE daily 

settlement price for WTI 1st Line Future and the ICE daily settlement price 

for Brent 1st Line Future

Company Symbol BTE

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 business day of the contract month

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by ICE for the front month 

WTI 1st Line Future contract and the average of the settlement prices as 

made public by ICE for the front month ICE Futures Europe Brent 1st Line 

Future contract for each business day (as specified below) in the 

determination period

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Crude Futures 

will be used except for the expiration date of the commodity’s underlying 

delivery month’s futures contract. On such date, the applicable pricing 

quotation will be rolled to the following month’s futures contract.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.44 CRUDE DIFF – WTI VS BRENT BULLET FUTURE

Product Name Crude Diff – WTI vs Brent Bullet Future

Contract Description A monthly cash settled future based on the difference between the ICE 

daily settlement price for WTI Futures contract and the ICE daily 

settlement price for Brent Futures contract

Company Symbol TIB

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 Trading shall end one business day prior to the expiration date of the ICE 

Futures Europe Brent Crude Futures Contract.

Final Settlement Price A price in USD and cents per barrel equal to the difference between the 

settlement prices as made public by ICE for the ICE Futures Europe WTI 

Futures contract and the same month of the ICE Futures Europe ICE Brent 

Futures contract on the expiry day.

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures 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, or as otherwise determined by the Exchange.

Final Payment Dates One Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.45 CRUDE DIFF – WTI 1-MONTH CALENDAR SPREAD FUTURE

Product Name Crude Diff – WTI 1-Month Calendar Spread Future

Contract Description A WTI Crude Oil 1-Month Calendar Spread Future

Company Symbol TIA

Contract Size per lot 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 Close of business on the last trading day of the underlying ICE Futures 

Europe WTI Crude Futures Contract. In this case the close of business 

refers to the settlement time of the WTI Crude Futures Contract at 19:30 

London time.

Final Settlement Price A price in USD and cents per barrel equal to the difference of the nearby 

ICE Futures Europe WTI Crude Futures Contract and the next consecutive 

contract month of the ICE Futures Europe WTI Crude Futures Contract 

series.

Contract Series Up to 48 consecutive 1-month calendar spreads, or as otherwise determined 

by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.46 CRUDE DIFF – WTI 12-MONTH CALENDAR SPREAD FUTURE

Product Name Crude Diff – WTI 12-Month Calendar Spread Future

Contract Description A WTI Crude Oil 12-Month Calendar Spread Future

Company Symbol TIZ

Contract Size per lot 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 Close of business on the last trading day of the underlying ICE Futures 

Europe WTI Crude Futures Contract. In this case the close of business 

refers to the settlement time of the WTI Futures at 19:30 London time.

Final Settlement Price A price in USD and cents per barrel equal to the difference of the nearby 

ICE Futures Europe WTI Crude Futures Contract and the contract month 

expiring 12 calendar months later in the ICE Futures Europe WTI Crude 

Futures Contract series.

Contract Series Up to 2 consecutive 12-month calendar spreads, or as otherwise determined 

by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.47 CONDENSATE DIFF – ICE C5 1B INDEX FUTURE

Product Name Condensate Diff – ICE C5 1B Index Future

Contract Description A monthly cash settled future based on the ICE C5 (Canadian Condensate) 

Daily Weighted Average Price Index (ICE C5 1b). The ICE C5 1b Index 

is expressed as a differential to the NYMEX WTI 1st Line Future (Calendar 

Month Average)

Company Symbol TMC

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 for each contract one Canadian business day prior to 

the applicable 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 1b Index, as 

published by 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.48 DIESEL DIFF – GULF COAST ULSD VS LOW SULPHUR GASOIL 1ST LINE FUTURE

Product Name Diesel Diff – Gulf Coast ULSD vs Low Sulphur Gasoil 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for US Gulf Coast ULSD and the ICE daily 

settlement price for Low Sulphur Gasoil 1st Line Future.

Company Symbol GUX

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts 

US Marketscan” under the heading “Gulf Coast” subheading “Distillates 

and blendstocks” and “Pipeline” for “Ultra low sulfur diesel” and the 

average of the settlement prices as made public by ICE for the Low 

Sulphur Gasoil 1st Line Future for each business day (as specified below) in 

the determination period.

conversion factor: 1 metric tonne = 312.9 gallons.

Non-Common Pricing Applies

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Low Sulphur Gasoil 

Futures 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.49 FUEL OIL DIFF – NEW YORK 1% FUEL OIL VS 1% FOB NWE CARGOES FUEL OIL 

FUTURE

Product Name Fuel Oil Diff – New York 1% Fuel Oil vs 1% FOB NEW Cargoes Fuel 

Oil Future

Contract Description A monthly cash settled future based on the difference between the Platts 

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

assessment price for 1% FOB NWE Cargoes Fuel Oil.

Company Symbol FOH

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 A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts 

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

“Residual fuel ($/bbl)” and “Cargo” for “No. 6 1%” and the average of the 

mean of the high and low quotations appearing in the “Platts European 

Marketscan” under the heading “Northwest Europe cargoes” subheading 

“FOB NWE” for “Fuel oil 1.0%” for each business day (as specified 

below) in the determination period.

conversion factor: 1 metric tonne = 6.35 barrels.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

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

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.50 FUEL OIL DIFF – NEW YORK 1% FUEL OIL VS 1% FOB NWE CARGOES FUEL OIL 

BALMO FUTURE

Product Name Fuel Oil Diff – New York 1% Fuel Oil vs 1% FOB NEW Cargoes Fuel Oil 

Balmo Future

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

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

daily assessment price for 1% FOB NWE Cargoes Fuel Oil.

Company Symbol FOI

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One cent ($0.01) per barrel

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 A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts 

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

“Residual fuel ($/bbl)” and “Cargo” for “No. 6 1%” and the average of the 

mean of the high and low quotations appearing in the “Platts European 

Marketscan” under the heading “Northwest Europe cargoes” subheading 

“FOB NWE” for “Fuel oil 1.0%” for each business day (as specified 

below) in the determination period.

conversion factor: 1 metric tonne = 6.35 barrels.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

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

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.51 FUEL OIL DIFF – NEW YORK 1% FUEL OIL (PLATTS) VS USGC HSFO (PLATTS) 

FUTURE

Product Name Fuel Oil Diff – New York 1% Fuel Oil (Platts) vs USGC HSFO (Platts) 

Future

Contract Description A monthly cash settled future based on the difference between the Platts 

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

assessment price for US Gulf Coast High Sulphur Fuel Oil.

Company Symbol FOD

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 A price in USD and cents per barrel based on the difference between the 

average of the “Mid” appearing in the “Platts US Marketscan” under the 

heading “Atlantic Coast” subheading “New York Harbor” and “Delivered 

cargo ($/barrel)” for “No. 6 1%” and the average of the “Mid” quotations 

appearing in the “Platts US Marketscan” under the heading “Gulf Coast” 

subheading “Houston and “$/barrel” for “USGC HSFO” for each business 

day (as specified below) in the determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.52 FUEL OIL DIFF – NEW YORK 1% FUEL OIL (PLATTS) VS USGC HSFO (PLATTS) 

BALMO FUTURE

Product Name Fuel Oil Diff – New York 1% Fuel Oil (Platts) vs USGC HSFO (Platts) 

Balmo Future

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

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

daily assessment price for US Gulf Coast High Sulphur Fuel Oil.

Company Symbol FOE

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One cent ($0.01) per barrel

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 A price in USD and cents per barrel based on the difference between the 

average of the “Mid” appearing in the “Platts US Marketscan” under the 

heading “Atlantic Coast” subheading “New York Harbor” and “Delivered 

cargo ($/barrel)” for “No. 6 1%” and the average of the “Mid” quotations 

appearing in the “Platts US Marketscan” under the heading “Gulf Coast” 

subheading “Houston and “$/barrel” for “USGC HSFO” for each business

day (as specified below) in the determination period.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.53 FUEL OIL DIFF – USAC HSFO (PLATTS) VS USGC HSFO (PLATTS) FUTURE

Product Name Fuel Oil Diff – USAC HSFO (Platts) vs USGC HSFO (Platts) Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for USAC HSFO and the Platts daily assessment 

price for USGC HSFO.

Company Symbol 14W

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 A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

under the heading “Atlantic Coast” subheading “New York Harbor” and 

“Delivered cargo ($/barrel)” for “USAC HSFO” and the average of the 

“Mid” quotations appearing in the “Platts US Marketscan” under the 

heading “Gulf Coast” subheading “Houston” and “$/barrel” for “USGC 

HSFO” for each business day (as specified below) in the determination 

period.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.54 FUEL OIL DIFF – USGC HSFO (PLATTS) VS FUEL OIL 3.5% FOB ROTTERDAM BARGES 

(PLATTS) FUTURE (IN BBLS)

Product Name Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam 

Barges (Platts) Future (in bbls)

Contract Description A monthly cash settled future based on the difference between the Platts 

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

Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil (in 

bbls).

Company Symbol GOE

Contract Size 1,000 barrels (157.50 metric tonnes)

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 A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

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

“USGC HSFO” and the average of the “Mid” quotations appearing in the 

“Platts European Marketscan” under the heading “Northwest Europe 

barges” subheading “FOB Rotterdam” for “Fuel oil 3.5%” for each 

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

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 6.35 barrels.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

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

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.55 FUEL OIL DIFF – USGC HSFO (PLATTS) VS FUEL OIL 3.5% FOB ROTTERDAM BARGES 

(PLATTS) BALMO FUTURE (IN BBLS)

Product Name Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam 

Barges (Platts) Balmo Future (in bbls)

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

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

and the Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel 

Oil (in bbls).

Company Symbol GOD

Contract Size 1,000 barrels (157.50 metric tonnes)

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 A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

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

“USGC HSFO” and the average of the “Mid” quotations appearing in the 

“Platts European Marketscan” under the heading “Northwest Europe 

barges” subheading “FOB Rotterdam” for “Fuel oil 3.5%” for each 

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

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 6.35 barrels.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

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

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.56 FUEL OIL DIFF – USGC HSFO (PLATTS) VS FUEL OIL 3.5% FOB ROTTERDAM BARGES 

(PLATTS) FUTURE (IN MTS)

Product Name Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam 

Barges (Platts) Future (in mts)

Contract Description A monthly cash settled future based on the difference between the Platts 

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

Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil (in 

mts).

Company Symbol NVV

Contract Size 1,000 metric tonnes (6,350 barrels)

Unit of Trading Any multiple of 1,000 metric tonnes

Currency US Dollars and cents

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

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 A price in USD and cents per metric tonne based on the difference between 

the average of the “Mid” quotations appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Houston and 

“$/barrel” for “USGC HSFO” and the average of the “Mid” quotations 

appearing in the “Platts European Marketscan” under the heading 

“Northwest Europe barges” subheading “FOB Rotterdam” for “Fuel oil 

3.5%” for each business day (as specified below) in the determination 

period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 6.35 barrels.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

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

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.57 DIESEL DIFF – GULF COAST ULSD VS HEATING OIL 1ST LINE FUTURE

Product Name Diesel Diff – Gulf Coast ULSD vs Heating Oil 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Gulf Coast ULSD and the ICE daily settlement 

price for Heating Oil 1st Line Future.

Company Symbol GOH

Contract Size 42,000 gallons

Unit of Trading Any multiple of 42,000 gallons

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the high and low quotations as appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Distillates and 

blendstocks” and “Pipeline” for “Ultra low sulfur diesel” and the average 

of the mean of the high and low settlement prices as made public by ICE 

for the Heating Oil 1st Line Future for each business day (as specified 

below) in the determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.58 DIESEL DIFF – GULF COAST ULSD (PLATTS) VS HEATING OIL 1ST LINE BALMO 

FUTURE

Product Name Diesel Diff – Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Balmo 

Future

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

the Platts daily assessment price for Gulf Coast ULSD and the ICE daily 

settlement price for Heating Oil 1st Line Future

Company Symbol GCH

Contract Size 42,000 gallons

Unit of Trading Any multiple of 42,000 gallons

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the high and low quotations as appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Distillates and 

blendstocks” and “Pipeline” for “Ultra low sulfur diesel” and the average 

of the mean of the high and low settlement prices as made public by ICE 

for the Heating Oil 1st Line Future for each business day (as specified 

below) in the determination period.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.59 DIESEL DIFF – DAILY GULF COAST ULSD (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE

Product Name Diesel Diff – Daily Gulf Coast ULSD (Platts) vs Heating Oil 1st Line 

Future

Contract Description A cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast ULSD and the ICE settlement price for 

Heating Oil 1st Line Future.

Company Symbol DFK

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Second business day after the nominal contract date

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations as appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Houston” and 

“Prompt Pipeline” for “Ultra low sulfur diesel” and the settlement prices as 

made public by NYMEX for the front month NY Harbor ULSD Future for 

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

Common Pricing applies.

Contract Series 130 days, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.60 DIESEL DIFF – GULF COAST ULSD (PLATTS) VS GULF COAST JET FUEL (PLATTS) 

FUTURE

Product Name Diesel Diff – Gulf Coast ULSD (Platts) vs Gulf Coast Jet Fuel (Platts) 

Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Gulf Coast Ultra Low Sulfur Diesel and the 

Platts daily assessment price for Gulf Coast Jet 54 Pipeline

Company Symbol JCU

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston” and “Prompt 

Pipeline” for “Ultra low sulfur diesel” and the average of the “Mid” 

quotations appearing in the “Platts US Marketscan” under the heading 

“Gulf Coast” subheading “Houston” and “Prompt Pipeline” for “Jet 54” for 

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

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.61 DIESEL DIFF – ARGUS ULSD NYH BUCKEYE PIPELINE VS HEATING OIL 1ST LINE 

FUTURE

Product Name Diesel Diff – Argus ULSD NYH Buckeye Pipeline vs Heating Oil 1st

Line Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for Argus ULSD NYH Buckeye Pipeline and the 

ICE settlement price for Heating Oil 1st Line Future.

Company Symbol AIO

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus 

US Products” under the heading “Distillates” subheading “Atlantic Coast” 

and “Buckeye” for “ULSD” and the average of the settlement prices as 

made public by NYMEX for the front month NY Harbor ULSD Future for 

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

Common Pricing applies.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus US Products and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.62 DIESEL DIFF – ARGUS ULSD NYH COLONIAL OFFLINE VS HEATING OIL 1ST LINE 

FUTURE

Product Name Diesel Diff – Argus ULSD NYH Colonial Offline vs Heating Oil 1st Line 

Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for ULSD NYH Colonial Offline and the ICE 

settlement price for Heating Oil 1st Line Future.

Company Symbol AIP

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus 

US Products” under the heading “Distillates” subheading “Atlantic Coast” 

and “Colonial Linden” for “ULSD” and the average of the settlement prices 

as made public by NYMEX for the front month NY Harbor ULSD Future 

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

Common Pricing applies.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus US Products and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.63 DIESEL DIFF – ULSD NYH COLONIAL OFFLINE (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE

Product Name Diesel Diff – ULSD NYH Colonial Offline (Platts) vs Heating Oil 1st

Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for ULSD NYH Colonial Offline and the ICE 

settlement price for Heating Oil 1st Line Future.

Company Symbol UHL

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “Atlantic Coast” subheading “CPL Linden” for “ULSD” 

and the average of the settlement prices as made public by NYMEX for the 

front month NY Harbor ULSD Future for each business day (as specified 

below) in the determination period.

Common Pricing applies.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.64 DIESEL DIFF – ARGUS 62-GRADE NYH ULSD VS HEATING OIL 1ST LINE FUTURE

Product Name Diesel Diff – Argus 62-Grade NYH ULSD vs Heating Oil 1st Line 

Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for NYH 62-Grade ULSD and the ICE daily 

settlement price for Heating Oil 1st Line Future.

Company Symbol NH2

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus 

US Products” under the heading “Distillates” subheading “Atlantic Coast” 

and “New York barge” for “ULS diesel prompt” and the average of the 

settlement prices as made public by ICE for the Heating Oil 1st Line Future 

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

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus US Products

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.65 DIESEL DIFF – ARGUS 67-GRADE NYH ULSD VS HEATING OIL 1ST LINE FUTURE

Product Name Diesel Diff – Argus 67-Grade NYH ULSD vs Heating Oil 1st Line 

Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for NYH 67-Grade ULSD and the ICE daily 

settlement price for Heating Oil 1st Line Future.

Company Symbol NH7

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus 

US Products” under the heading “Distillates” subheading “Atlantic Coast” 

and “New York barge” for “ULS heating oil” and the average of the 

settlement prices as made public by ICE for the Heating Oil 1st Line Future 

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

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus US Products

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.66 DIESEL DIFF – 67-GRADE USGC ULSD (PLATTS) VS HEATING OIL 1ST LINE FUTURE

Product Name Diesel Diff – 67-Grade USGC ULSD (Platts) vs Heating Oil 1st Line 

Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Gulf Coast 67-Grade ULSD and the ICE daily 

settlement price for Heating Oil 1st Line Future.

Company Symbol UL7

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston” and “Prompt 

Pipeline” for “ULS Heating Oil” and the average of the settlement prices as 

made public by ICE for the Heating Oil 1st Line Future for each business 

day (as specified below) in the determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.67 DIESEL DIFF – GROUP 3 ULSD (PLATTS) VS HEATING OIL 1ST LINE FUTURE

Product Name Diesel Diff – Group 3 ULSD (Platts) vs Heating Oil 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Midwest Group 3 ULSD and the ICE daily 

settlement price for Heating Oil 1st Line Future.

Company Symbol GUH

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “Midwest (c/gal)” subheading “Group 3” for “ULSD” 

and the average of the settlement prices as made public by ICE for the 

Heating Oil 1st Line Future for each business day (as specified below) in 

the determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.68 DIESEL DIFF – GROUP 3 ULSD (OPIS) VS HEATING OIL 1ST LINE FUTURE

Product Name Diesel Diff – Group 3 ULSD (OPIS) vs Heating Oil 1st Line Future

Contract Description A monthly cash settled future based on the difference between the OPIS 

daily assessment price for Midwest Group 3 ULSD and the ICE daily 

settlement price for Heating Oil 1st Line Future.

Company Symbol DCS

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mean” quotations appearing in the “OPIS Full-Day Refined 

Spots Report” under the heading “OPIS U.S. Midwest Spot Distillate 

Prices (cts/gal)” subheading “Group 3” and “Prompt Prices” for “ULSD” 

and the settlement prices as made public by ICE for the Heating Oil 1st

Line Future for each business day (as specified below) in the determination 

period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for OPIS Full-Day Refined Spots Report

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.69 HEATING OIL ARB – HEATING OIL 1ST LINE VS LOW SULPHUR GASOIL 1ST LINE 

FUTURE (IN BBLS)

Product Name Heating Oil Arb – Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line 

Future (in bbls)

Contract Description A monthly cash settled future based on the difference between the ICE 

settlement price for Heating Oil 1st Line Future and the ICE settlement 

price for Low Sulphur Gasoil 1st Line Future (in bbls).

Company Symbol ULM

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One cent ($0.01) per gallon

Settlement Price Quotation One hundredth of one cent ($ 0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($ 0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by NYMEX for the front 

month NY Harbor ULSD Future and the average of the settlement prices as 

made public by ICE for the front month ICE Futures Europe Low Sulphur 

Gasoil Future for each business day (as specified below) in the 

determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 312.9 gallons.

Roll Adjust Provision The nearby month quotation for ICE Low Sulphur Gasoil Futures 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 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.70 HEATING OIL ARB – HEATING OIL 1ST LINE VS LOW SULPHUR GASOIL 1ST LINE 

BALMO FUTURE (IN BBLS)

Product Name Heating Oil Arb – Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line 

Balmo Future (in bbls)

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

the ICE settlement price for Heating Oil 1st Line Future and the ICE 

settlement price for Low Sulphur Gasoil 1st Line Future (in bbls).

Company Symbol UL9

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One cent ($0.01) per gallon

Settlement Price Quotation One hundredth of one cent ($ 0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($ 0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by NYMEX for the front 

month NY Harbor ULSD Future and the average of the settlement prices as 

made public by ICE for the front month ICE Futures Europe Low Sulphur 

Gasoil Future for each business day (as specified below) in the 

determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 312.9 gallons.

Roll Adjust Provision The nearby month quotation for ICE Low Sulphur Gasoil Futures will be 

used except for the expiration date of the commodity’s underlying delivery 

month’s futures contract. On such date, the applicable pricing quotation 

will be rolled to the following month’s futures contract.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.71 JET FUEL DIFF – GULF COAST JET FUEL VS HEATING OIL 1ST LINE FUTURE

Product Name Jet Fuel Diff – Gulf Coast Jet Fuel vs Heating Oil 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Gulf Coast Jet 54 Pipeline and the ICE daily 

settlement price for Heating Oil 1st Line Future.

Company Symbol JHO

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts 

US Marketscan” under the heading “Gulf Coast” subheading “Distillates 

and blendstocks” and “Pipeline” for “Jet 54” and the average of the 

settlement prices as made public by ICE for the Heating Oil 1st Line Future 

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

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.72 JET FUEL DIFF – GULF COAST JET FUEL (PLATTS) VS HEATING OIL 1ST LINE BALMO 

FUTURE

Product Name Jet Fuel Diff – Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line 

Balmo Future

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

the Platts daily assessment price for Gulf Coast Jet 54 Pipeline and the ICE 

daily settlement price for Heating Oil 1st Line Future.

Company Symbol JHP

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston” and “Prompt 

Pipeline” for “Jet 54” and the average of the settlement prices as made 

public by ICE for the Heating Oil 1st Line Future for each business day (as 

specified below) in the determination period.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.73 JET FUEL DIFF – DAILY GULF COAST JET FUEL (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE

Product Name Jet Fuel Diff – Daily Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line 

Future

Contract Description A cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast Jet 54 Pipeline and the ICE settlement 

price for Heating Oil 1st Line Future.

Company Symbol DFL

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Second business day after the nominal contract date

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston” and “Prompt 

Pipeline” for “Jet 54” and the settlement prices as made public by NYMEX 

for the front month NY Harbor ULSD Future for each business day (as 

specified below) in the determination period.

Common Pricing applies.

Contract Series 130 days, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.74 JET FUEL DIFF – LA JET FUEL (PLATTS) VS HEATING OIL 1ST LINE FUTURE

Product Name Jet Fuel Diff – LA Jet Fuel (Platts) vs Heating Oil 1st Line Future

Contract Description A monthly cash settled future based on the Platts daily assessment price for 

LA Jet Fuel and the ICE daily settlement price for Heating Oil 1st Line 

Future

Company Symbol LA4

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “West Coast” subheading “Los Angeles” for “Jet” and 

the average of the settlement prices as made public by ICE for the Heating 

Oil 1st Line Future for each business day (as specified below) in the 

determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.75 JET FUEL DIFF – LA JET FUEL (PLATTS) VS HEATING OIL 1ST LINE BALMO FUTURE

Product Name Jet Fuel Diff – LA Jet Fuel (Platts) vs Heating Oil 1st Line Balmo 

Future

Contract Description A balance of the month cash settled future based on the Platts daily 

assessment price for LA Jet Fuel and the ICE daily settlement price for 

Heating Oil 1st Line Future

Company Symbol LA5

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “West Coast” subheading “Los Angeles” for “Jet” and 

the average of the settlement prices as made public by ICE for the Heating 

Oil 1st Line Future for each business day (as specified below) in the 

determination period.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.76 JET FUEL DIFF – ARGUS NYH JET FUEL VS HEATING OIL 1ST LINE FUTURE

Product Name Jet Fuel Diff – Argus NYH Jet Fuel vs Heating Oil 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for Jet 54 Buckeye and the ICE daily settlement

price for Heating Oil 1st Line Future.

Company Symbol JCH

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus 

US Products” under the heading “Distillates” subheading “Atlantic Coast” 

and “Buckeye” for “Jet 54” and the average of the settlement prices as 

made public by ICE for the Heating Oil 1st Line Future for each business 

day (as specified below) in the determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus US Products

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.77 JET FUEL DIFF – ARGUS NYH JET FUEL VS HEATING OIL 1ST LINE BALMO FUTURE

Product Name Jet Fuel Diff – Argus NYH Jet Fuel vs Heating Oil 1st Line Balmo 

Future

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

the Argus daily assessment price for Jet 54 Buckeye and the ICE daily 

settlement price for Heating Oil 1st Line Future.

Company Symbol JCI

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus 

US Products” under the heading “Distillates” subheading “Atlantic Coast” 

and “Buckeye” for “Jet54” and the average of the settlement prices as made 

public by ICE for the Heating Oil 1st Line Future for each business day (as 

specified below) in the determination period.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus US Products

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.78 DIESEL DIFF – DIESEL 10PPM FOB ARA BARGES (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE

Product Name Diesel Diff – Diesel 10PPM FOB ARA Barges (Platts) vs Heating Oil 1st

Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

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

settlement price for Heating Oil 1st Line Future.

Company Symbol DFF

Contract Size 1,000 metric tonnes

Unit of Trading Any multiple of 1,000 metric tonnes

Currency US Dollars and cents

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

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 A price in USD and cents per metric tonne based on the difference between 

the average of the “Mid” quotations appearing in the “Platts European 

Marketscan” under the heading “Northwest Europe barges” subheading 

“FOB Rotterdam” for “Diesel 10 ppm” and the average of the settlement 

prices as made public by NYMEX for the front month NY Harbor ULSD 

Future for each business day (as specified below) in the determination 

period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 312.9 gallons.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts European Marketscan and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.79 DIESEL DIFF – ULSD 10PPM CIF MED CARGOES (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE

Product Name Diesel Diff – ULSD 10PPM CIF MED Cargoes (Platts) vs Heating Oil 

1

st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for ULSD 10ppm CIF Med Cargoes and the ICE 

settlement price for Heating Oil 1st Line Future.

Company Symbol TMN

Contract Size 1,000 metric tonnes

Unit of Trading Any multiple of 1,000 metric tonnes

Currency US Dollars and cents

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

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 tone

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per metric tonne based on the difference between 

the average of the “Mid” quotations appearing in the “Platts European 

Marketscan” under the heading “Mediterranean cargoes” subheading “CIF 

Med (Genova/Lavera)” for “10ppm ULSD” and the average of the 

settlement prices as made public by NYMEX for the front month NY 

Harbor ULSD Future for each business day (as specified below) in the 

determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 312.9 gallons

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts European Marketscan and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.80 DIESEL DIFF – ULSD 10PPM CIF NWE CARGOES (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE

Product Name Diesel Diff – ULSD 10PPM CIF NEW Cargoes (Platts) vs Heating Oil 

1

st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for the ULSD 10ppm CIF NWE Cargoes and the 

ICE settlement price for Heating Oil 1st Line Future.

Company Symbol TNN

Contract Size 1,000 metric tonnes

Unit of Trading Any multiple of 1,000 metric tonnes

Currency US Dollars and cents

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

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 A price in USD and cents per metric tonne based on the difference between 

the average of the “Mid” quotations appearing in the “Platts European 

Marketscan” under the heading “Northwest Europe cargoes” subheading 

“CIF NWE/Basis ARA” for “ULSD 10 ppm” and the average of the 

settlement prices as made public by NYMEX for the front month NY 

Harbor ULSD Future for each business day (as specified below) in the 

determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 312.9 gallons.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts European Marketscan and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.81 FUEL OIL DIFF – FUEL OIL 380 CST SINGAPORE (PLATTS) VS USGC HSFO (PLATTS) 

FUTURE (IN BBLS)

Product Name Future Oil Diff – Fuel Oil 380 CST Singapore (Platts) vs USGC HSFO 

(Platts) Future (in bbls)

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Singapore 380 CST Fuel Oil and the Platts daily 

assessment price for US Gulf Coast High Sulphur Fuel Oil (in bbls).

Company Symbol GOK

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 A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts Asia-Pacific/Arab 

Gulf Marketscan” under the heading “Asia Products” and “Singapore” 

subheading “FOB Singapore ($/barrel)” for “HSFO 380 CST ($/mt)” and 

the average of the “Mid” quotations appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Houston and 

“$/barrel” for “USGC HSFO” for each business day (as specified below) in 

the determination period

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 6.35 barrels.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts Asia-Pacific/Arab Gulf Marketscan and Platts 

US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.82 GASOLINE DIFF – RBOB GASOLINE 1ST LINE VS ARGUS EUROBOB OXY FOB 

ROTTERDAM BARGE FUTURE

Product Name Gasoline Diff – RBOB Gasoline 1st Line vs Argus EUROBOB OXY FOB 

Rotterdam Barge Future

Contract Description A monthly cash settled future based on the difference between the ICE daily 

settlement price for RBOB Gasoline 1st Line Future and the Argus daily 

assessment price for Eurobob Oxy FOB Rotterdam Barges.

Company Symbol GDO

Contract Size 1,000 metric tonnes (349,860 gallons)

Unit of Trading Any multiple of 1,000 metric tonnes

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent (¢0.01) per gallon

Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon

Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by the ICE for the RBOB 

Gasoline 1st Line Future and the average of the mean of the high and low 

quotations appearing in the “Argus European Products Report” under the 

heading “Northwest Europe light products” subheading “barge” for 

“Eurobob oxy” for each business day (as specified below) in the 

determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 349.86 gallons.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus European Products Report

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.83 GASOLINE DIFF – RBOB GASOLINE 1ST LINE VS ARGUS EUROBOB OXY FOB 

ROTTERDAM BARGES BALMO FUTURE

Product Name Gasoline Diff – RBOB Gasoline 1st Line vs Argus EUROBOB OXY 

FOB Rotterdam Barges Balmo Future

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

the ICE daily settlement price for RBOB Gasoline 1st Line Future and the 

Argus daily assessment price for Eurobob Oxy FOB Rotterdam Barges.

Company Symbol GDT

Contract Size 1,000 metric tonnes (349,860 gallons)

Unit of Trading Any multiple of 1,000 metric tonnes

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent (¢0.01) per gallon

Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon

Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by ICE for the RBOB 

Gasoline 1st Line Future and the average of the mean of the high and low 

quotations appearing in the “Argus European Products Report” under the 

heading “Northwest Europe light products” subheading “barge” for 

“Eurobob oxy” for each business day (as specified below) in the 

determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 349.86 gallons.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus European Products Report and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.84 GASOLINE DIFF – RBOB GASOLINE 1ST LINE VS ARGUS EUROBOB OXY FOB 

ROTTERDAM BARGES MINI FUTURE

Product Name Gasoline Diff – RBOB Gasoline 1st Line vs Argus EUROBOB OXY 

FOB Rotterdam Barges Mini Future

Contract Description A monthly cash settled mini future based on the difference between the 

ICE daily settlement price for RBOB Gasoline 1st Line Future and the 

Argus daily assessment price for Eurobob Oxy FOB Rotterdam Barges.

Company Symbol GDQ

Contract Size 100 metric tonnes (34,986 gallons)

Unit of Trading Any multiple of 100 metric tonnes

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent (¢0.01) per gallon

Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon

Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by the ICE for the RBOB 

Gasoline 1st Line Future and the average of the mean of the high and low 

quotations appearing in the “Argus European Products Report” under the 

heading “Northwest Europe light products” subheading “barge” for 

“Eurobob oxy” for each business day (as specified below) in the 

determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 349.86 gallons

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus European Products Report

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.85 GASOLINE DIFF – RBOB GASOLINE 1ST LINE VS ARGUS EUROBOB OXY FOB 

ROTTERDAM BARGES BALMO MINI FUTURE

Product Name Gasoline Diff – RBOB Gasoline 1st Line vs Argus EUROBOB OXY 

FOB Rotterdam Barges Balmo Mini Future

Contract Description A balance of the month cash settled mini future based on the difference 

between the ICE daily settlement price for RBOB Gasoline 1st Line Future 

and the Argus daily assessment price for Eurobob Oxy FOB Rotterdam 

Barges.

Company Symbol GDR

Contract Size 100 metric tonnes (34,986 gallons)

Unit of Trading Any multiple of 100 metric tonnes

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent (¢0.01) per gallon

Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon

Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by the ICE for the RBOB 

Gasoline 1st Line Future and the average of the mean of the high and low 

quotations appearing in the “Argus European Products Report” under the 

heading “Northwest Europe light products” subheading “barge” for 

“Eurobob oxy” for each business day (as specified below) in the 

determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 349.86 gallons

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus European Products Report

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.86 GASOLINE DIFF – RBOB GASOLINE 1-MONTH CALENDAR SPREAD FUTURE

Product Name Gasoline Diff – RBOB Gasoline 1-Month Calendar Spread Future

Contract Description An RBOB Gasoline 1-Month Calendar Spread Future used for the purposes 

of settling the RBOB Gasoline 1-Month Calendar Spread Option.

Company Symbol RCM

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Trading shall cease at the end of the designated settlement period on the 

last trading day of the nearby month ICE Futures Europe RBOB Gasoline 

Futures Contract.

Final Settlement Price A price in USD and cents per gallon equal to the difference between the 

settlement price of the nearby ICE Futures Europe RBOB Gasoline Futures 

Contract and the settlement price of the next consecutive contract month of 

the ICE Futures Europe RBOB Gasoline Futures Contract series on the 

Last Trading Day.

Contract Series Up to 48 consecutive 1-month calendar spreads, or as otherwise determined 

by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.87 GASOLINE DIFF – GULF COAST UNL 87 GASOLINE PROMPT PIPELINE (PLATTS) VS 

RBOB GASOLINE 1ST LINE FUTURE

Product Name Gasoline Diff – Gulf Coast UNL 87 Gasoline Prompt Pipeline (Platts) 

vs RBOB Gasoline 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Gulf Coast Unleaded 87 Gasoline Prompt 

Pipeline and the ICE daily settlement price for RBOB Gasoline 1st Line 

Future

Company Symbol UM1

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston” and “Prompt 

Pipeline” for “Unleaded 87” and the average of the settlement prices as 

made public by ICE for the RBOB Gasoline 1st Line Future for each 

business day (as specified below) in the determination period

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.88 GASOLINE DIFF – GULF COAST UNL 87 GASOLINE PROMPT PIPELINE (PLATTS) VS 

RBOB GASOLINE 1ST LINE BALMO FUTURE

Product Name Gasoline Diff – Gulf Coast UNL 87 Gasoline Prompt Pipeline (Platts) 

vs RBOB Gasoline 1st Line Balmo Future

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

the Platts daily assessment price for Gulf Coast Unleaded 87 Gasoline 

Prompt Pipeline and the ICE daily settlement price for RBOB Gasoline 1st

Line Future

Company Symbol UMM

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston” and “Prompt 

Pipeline” for “Unleaded 87” and the average of the settlement prices as

made public by ICE for the RBOB Gasoline 1st Line Future for each 

business day (as specified below) in the determination period

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.89 GASOLINE DIFF – GULF COAST CBOB 87 GASOLINE PROMPT PIPELINE (PLATTS) VS 

RBOB GASOLINE 1ST LINE FUTURE

Product Name Gasoline Diff – Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) 

vs RBOB Gasoline 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Gulf Coast CBOB 87 Gasoline Prompt Pipeline 

and the ICE daily settlement price for RBOB Gasoline 1st Line Future.

Company Symbol GDM

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston” and “Prompt 

Pipeline” for “CBOB 87” and the average of the settlement prices as made 

public by ICE for the RBOB Gasoline 1st Line Future for each business day 

(as specified below) in the determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.90 GASOLINE DIFF – GULF COAST CBOB 87 GASOLINE PROMPT PIPELINE (PLATTS) VS 

RBOB GASOLINE 1ST LINE BALMO FUTURE

Product Name Gasoline Diff – Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) 

vs RBOB Gasoline 1st Line Balmo Future

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

the Platts daily assessment price for Gulf Coast CBOB 87 Gasoline Prompt 

Pipeline and the ICE daily settlement price for RBOB Gasoline 1st Line 

Future.

Company Symbol GDN

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston” and “Prompt 

Pipeline” for “CBOB 87” and the average of the settlement prices as made 

public by ICE for the RBOB Gasoline 1st Line Future for each business day 

(as specified below) in the determination period.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.91 GASOLINE DIFF – GROUP 3 SUB-OCTANE GASOLINE (PLATTS) VS RBOB GASOLINE 

1

ST LINE FUTURE

Product Name Gasoline Diff – Group 3 Sub-Octane Gasoline (Platts) vs RBOB 

Gasoline 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Midwest Group 3 Sub-octane Gasoline and the 

ICE daily settlement price for RBOB Gasoline 1st Line Future.

Company Symbol GDL

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “Midwest (c/gal)” subheading “Group 3” for “Suboctane” and the average of the settlement prices as made public by ICE for 

the RBOB Gasoline 1st Line Future for each business day (as specified 

below) in the determination period.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.92 GASOLINE DIFF – GROUP 3 SUB-OCTANE GASOLINE (PLATTS) VS RBOB GASOLINE 

1

ST LINE BALMO FUTURE

Product Name Gasoline Diff – Group 3 Sub-Octane Gasoline (Platts) vs RBOB 

Gasoline 1st Line Balmo Future

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

the Platts daily assessment price for Midwest Group 3 Sub-octane Gasoline 

and the ICE settlement price for RBOB Gasoline 1st Line Future.

Company Symbol GPR

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” 

under the heading “Midwest (c/gal)” subheading “Group 3” for “Suboctane” and the average of the settlement prices as made public by 

NYMEX for the front month RBOB Gasoline Future for each business day 

(as specified below) in the determination period.

Common Pricing applies.

Contract Series Up to 2 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.93 GASOLINE DIFF – GROUP 3 V-GRADE SUB-OCTANE GASOLINE (OPIS) VS RBOB 

GASOLINE 1ST LINE FUTURE

Product Name Gasoline Diff – Group 3 V-Grade Sub-Octane Gasoline (OPIS) vs 

RBOB Gasoline 1st Line Future

Contract Description A monthly cash settled future based on the difference between the OPIS 

daily assessment price for Midwest Group 3 Sub-Octane Regular Gasoline 

and the ICE settlement price for RBOB Gasoline 1st Line Future.

Company Symbol G3V

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mean” quotations appearing in the “OPIS Full-Day Refined 

Spots Report” under the heading “OPIS U.S. Midwest Spot Gasoline Prices 

(cts/gal)” subheading “Group 3” and “Prompt Prices” for “Sub-Oct Reg” 

and the average of the settlement prices as made public by NYMEX for the 

front month RBOB Gasoline Future for each business day (as specified 

below) in the determination period.

Common Pricing applies.

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for OPIS Full-Day Refined Spots Report

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.94 HEATING OIL ARB – HEATING OIL 1ST LINE VS LOW SULPHUR GASOIL 1ST LINE 

FUTURE (IN MTS)

Product Name Heating Oil Arb – Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line 

Future (in mts)

Contract Description A monthly cash settled future based on the difference between the ICE 

settlement price for Heating Oil 1st Line Future and the ICE settlement 

price for Low Sulphur Gasoil 1st Line Future (in MTs).

Company Symbol ULL

Contract Size 1,000 metric tonnes

Unit of Trading Any multiple of 1,000 metric tonnes

Currency US Dollars and cents

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

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 A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by NYMEX for the front 

month NY Harbor ULSD Future and the average of the settlement prices as 

made public by ICE for the front month Low Sulphur Gasoil Future for 

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

Non-Common Pricing applies

conversion factor: 1 metric tonne = 312.9 gallons.

Roll Adjust Provision The nearby month quotation for ICE Low Sulphur Gasoil Futures 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 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.95 CRUDE DIFF – ICE WCS 1B INDEX BALMO FUTURE

Product Name Crude Diff – ICE WCS 1B Index Balmo Future

Contract Description A balance of the month cash settled future based on the ICE WCS 

(Western Canadian Select) Daily Weighted Average Price Index (ICE 

WCS 1b). The ICE WCS 1b Index is expressed as a differential to the 

NYMEX WTI 1st Line Future (Calendar Month Average)

Company Symbol TDY

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 WCS 1b Index, as 

published by NGX. The index pricing period 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 Front month only, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.96 CRUDE DIFF – ICE WCS 1A INDEX BALMO FUTURE

Product Name Crude Diff – ICE WCS 1A Index Balmo Future

Contract Description A balance of the month cash settled future based on the ICE WCS (Western 

Canadian Select) Monthly Volume Weighted Average Price Index (ICE 

WCS 1a). The ICE WCS 1a Index is expressed as a differential to the 

NYMEX WTI 1st Line Future (Calendar Month Average).

Company Symbol TMY

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 WCS 1a Index, as 

published by NGX. The index pricing period 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 Front month only, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.97 CRUDE DIFF – ARGUS ANS VS BRENT 1ST LINE FUTURE

Product Name Crude Diff – Argus ANS vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Argus 

daily assessment price for Alaskan North Slope Crude Oil (ANS) and the 

ICE daily settlement price for Brent 1st Line Future.

Company Symbol ABL

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 A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the "Argus Crude" report under the 

heading "US west coast waterborne" subheading “Low/High” for "ANS 

del" and the average of the settlement prices as made public by ICE for the 

front month ICE Futures Europe Brent Crude Future for each business day 

(as specified below) in the determination period.

Non-Common Pricing Applies.

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures 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, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude and ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.98 HEATING OIL DIFF – EU-STYLE HEATING OIL VS LOW SULPHUR GASOIL FUTURE

Product Name Heating Oil Diff – EU-Style Heating Oil vs Low Sulphur Gasoil Future

Contract Description A monthly cash settled future based on the difference between the ICE 

daily settlement price for Heating Oil Futures and the ICE daily settlement 

price for ICE Low Sulphur Gasoil Bullet Futures.

Company Symbol EHL

Contract Size 1,000 barrels (42,000 gallons)

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 end one business day prior to the expiration date of the ICE 

Futures Europe Heating Oil Futures Contract.

Final Settlement Price A price in USD and cents per barrel equal to the difference between the 

settlement prices as made public by ICE for the ICE Futures Europe 

Heating Oil Futures Contract and the ICE Futures Europe Low Sulphur 

Gasoil Bullet Futures Contract on the Last Trading Day.

Non-Common Pricing Applies.

conversion factor: 1 metric tonne = 312.9 gallons

Contract Series Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.99 NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET VS NAPHTHA CIF NWE CARGOES 

(PLATTS) FUTURE

Product Name Natural Gasoline, Opis Mt. Belvieu Non-Tet Vs Naphtha CIF NEW 

Cargoes (Platts) Future

Description A monthly cash settled future based on the difference between the OPIS 

daily assessment price for Mt. Belvieu Non-TET Natural Gasoline and the 

Platts daily assessment price for Naphtha CIF NWE Cargoes.

Company Symbol GCY

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent (¢0.01) per gallon

Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon

Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon

Last Trading Day Last trading day of the contract month

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Avg” quotations appearing in the “OPIS North America 

LPG Report” under the heading “OPIS Mont Belvieu Spot Gas Liquids 

Prices (cts/gal)” subheading “Any Current Month” for “Non-TET N.

Gasoline” and the average of the “Mid” quotations appearing in the “Platts 

European Marketscan” under the heading “Northwest Europe cargoes” 

subheading “CIF NWE/Basis ARA” for “Naphtha” for each business day 

(as specified in Final Settlement Price below) in the determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 373.8 gallons (for Naphtha)

Contract Series Up to 48 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Date Two Clearing House Business Days following the Last Trading Day

business days Publication days for OPIS North America LPG Report and Platts 

European Marketscan

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.100 DAILY WTI 1-MONTH CALENDAR SPREAD FUTURE 

Product Name Daily WTI 1-Month Calendar Spread Future

Contract Description A Daily WTI Crude Oil 1-Month Calendar Spread Future

Company Symbol DWO

Contract Size per lot 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 Close of business on the day of listing. In this case the close of business 

refers to the settlement time of the WTI Crude Futures Contract at 19:30 

London time.

Final Settlement Price A price in USD and cents per barrel equal to the difference of the nearby 

ICE Futures Europe WTI Crude Futures Contract and the next consecutive 

contract month of the ICE Futures Europe WTI Crude Futures Contract 

series on the Last Trading Day.

Contract Series Up to 6 consecutive business days, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.101 DIESEL DIFF – NEW YORK HARBOR ULSD 1-MONTH CALENDAR SPREAD FUTURE

Product Name Diesel Diff – New York Harbor ULSD 1-Month Calendar Spread 

Future

Contract Description A New York Harbor ULSD 1-Month Calendar Spread Future used for the 

purposes of settling the New York Harbor ULSD Gasoline 1-Month 

Calendar Spread Option.

Contract Symbol HOC

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Trading shall cease at the end of the designated settlement period on the 

last trading day of the nearby month ICE Futures Europe New York Harbor 

Heating Oil Futures Contract.

Final Settlement Price A price in USD and cents per gallon equal to the difference between the 

settlement price of the nearby ICE Futures Europe New York Harbor 

Heating Oil Futures Contract and the settlement price of the next 

consecutive contract month of the ICE Futures Europe New York Harbor 

Heating Oil Futures Contract series on the Last Trading Day.

Contract Series Up to 36 consecutive 1-month calendar spreads, or as otherwise determined 

by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.C.102 CRUDE DIFF - ARGUS WCS (HOUSTON) CRUDE OIL TRADE MONTH FUTURE

Description: A cash settled future based on the Argus daily assessment price for WCS (Western Canadian 

Select) basis Houston. The Argus WCS (Houston) Crude Oil Trade Month Future is expressed as a differential 

to WTI Calendar Month Average (CMA NYMEX).

Contract Symbol: ARV

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: Trading shall cease at the close of trading on the last business day that falls on or before the 

25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, 

trading shall cease on the first business day prior to the 25th calendar day.

Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using price data 

from a number of sources including spot, forward and derivative markets for both physical and financial 

products.

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 “Diff weighted average” quotations appearing in the "Argus Crude" report 

under the heading "US Gulf Coast and Midcontinent" subheading “Texas” for "WCS Houston", basis CMA 

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

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Argus Crude

MIC Code: IFED

Clearing Venue: ICEU
19.C.103 ICE WCS CUSHING 1A INDEX TRADE MONTH FUTURE

Description: A cash settled future based on the ICE WCS (Western Canadian Select) Cushing Monthly 

Volume Weighted Average Price Index (ICE WCS CUS 1a). The ICE WCS CUS 1a Index is expressed as a 

differential to the NYMEX WTI 1st Line Future (Calendar Month Average).

Contract Symbol: TMQ

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 at the close of trading on the last business day that falls on or before the 

25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, 

trading shall cease on the first business day prior to the 25th calendar day.

Floating Price: In respect of daily settlement, the Floating Price will be the volume-weighted average of the 

ICE WCS CUS 1a Index for each trading day during the same period, as published by ICE-NGX. 

For forward months, the Floating Price will be determined by ICE using price data from a number of sources 

including spot, forward and derivative markets for both physical and financial products.

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

barrel based on the ICE WCS CUS 1a Index, as published by ICE-NGX. The index pricing period 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, or as otherwise determined by the Exchange.

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
19.C.104 GASOLINE DIFF - RBOB GASOLINE 1ST LINE VS ARGUS EUROBOB NON-OXY FOB 

ROTTERDAM BARGES FUTURE

Description: A monthly cash settled future based on the difference between the ICE daily settlement price for 

RBOB Gasoline 1st Line Future and the Argus daily assessment price for Eurobob Non-Oxy FOB Rotterdam 

Barges.

Contract Symbol: NOX

Contract Size: 1,000 metric tonnes (349,860 gallons)

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

Currency: US Dollars and cents

Trading Price Quotation: One hundredth of one cent (¢0.01) per gallon

Settlement Price Quotation: One thousandth of one cent (¢0.001) per gallon

Minimum Price Fluctuation: One thousandth of one cent (¢0.001) per gallon

Last Trading Day: Last Trading Day of the contract month

Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using price data 

from a number of sources including spot, forward and derivative markets for both physical and financial 

products.

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

gallon based on the difference between the average of the settlement prices as made public by the ICE for the 

RBOB Gasoline 1st Line Future and the average of the mean of the high and low quotations appearing in the 

“Argus European Products” report under the heading “Northwest Europe light products” for “Eurobob non-oxy” 

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

Non-Common: Pricing applies. 

conversion factor: 1 metric tonne = 349.86 gallons.

Contract Series: Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: Publication days for Argus European Products

MIC Code: IFED

Clearing Venue: ICEU
19.C.105 FUEL OIL DIFF - MARINE FUEL 0.5% FOB USGC BARGES (PLATTS) VS USGC HSFO 

(PLATTS) FUTURE

Description: A monthly cash settled future based on the difference between the Platts daily 

assessment price for 0.5% FOB US Gulf Coast Barges Marine Fuel and the Platts daily assessment 

price for US Gulf Coast High Sulphur Fuel Oil.

Contract Symbol: MF2

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

Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using 

price data from a number of sources including spot, forward and derivative markets for both physical 

and financial products.

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 “Mid” quotations appearing in the “Platts US Marketscan” under the heading 

“Gulf Coast” subheading “Houston” and “$/barrel” for “USGC HSFO” for each business day (as 

specified below) in the determination period.

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Day in the 

determination period.

Business Days: Publication days for Platts US Marketscan

MIC Code: IFED

Clearing Venue: ICEU
19.C.107 RESERVED

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, or as otherwise determined by the Exchange.

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
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, or as otherwise determined by the Exchange.

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
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, or as otherwise determined by the Exchange.

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
19.C.111 JET FUEL DIFF - GULF COAST JET FUEL (PLATTS) VS NYH ULSHO 1ST LINE 

FUTURE

Description: A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast Jet 54 Pipeline and the ICE settlement price for NYH ULSHO 1st 

Line Future.

Contract Symbol: NYJ

Contract Size: 1,000 barrels (42,000 gallons)

Unit of Trading: Any multiple of 1,000 barrels

Currency: US Dollars and cents

Trading Price Quotation: One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation: One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per gallon

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 gallon based on the difference between the average of the “Mid” quotations appearing in the 

"Platts US Marketscan" under the heading "Gulf Coast" subheading "Houston" and "Prompt Pipeline" 

for "Jet 54" and the average of the settlement prices as made public by ICE for the front month NYH 

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

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

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
19.C.112 DIESEL DIFF - GULF COAST ULSD (PLATTS) VS NYH ULSHO 1ST LINE 

FUTURE

Description: A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast ULSD and the ICE settlement price for NYH ULSHO 1st Line 

Future.

Contract Symbol: NYD

Contract Size: 1,000 barrels (42,000 gallons)

Unit of Trading: Any multiple of 1,000 barrels

Currency: US Dollars and cents

Trading Price Quotation: One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation: One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per gallon

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 gallon based on the difference between the average of the ”Mid” quotations appearing in the 

“Platts US Marketscan” under the heading “Gulf Coast” subheading “Houston” and “Prompt 

Pipeline” for “Ultra low sulfur diesel” and the average of the settlement prices as made public by ICE 

for the front month NYH ULSHO Future for each business day (as specified below) in the 

determination period.

Contract Series: Up to 48 consecutive months, or as otherwise determined by the Exchange.

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
19.C.113 HEATING OIL ARB - NYH ULSHO 1ST LINE VS LOW SULPHUR GASOIL 1ST LINE 

FUTURE (IN BBLS)

Description: A monthly cash settled future based on the difference between the ICE settlement price 

for NYH ULSHO 1st Line Future and the ICE settlement price for Low Sulphur Gasoil 1st Line 

Future.

Contract Symbol: NYG

Contract Size: 1,000 barrels (42,000 gallons)

Unit of Trading: Any multiple of 1,000 barrels

Currency: US Dollars and cents

Trading Price Quotation: One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation: One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation: One hundredth of one cent ($0.0001) per gallon

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 gallon based on the difference between the average of the settlement prices as made public 

by ICE for the front month NYH ULSHO Future and the average of the settlement prices as made 

public by ICE for the front month Low Sulphur Gasoil Future for each business day in the 

determination period. 

conversion factor: 1 metric tonne = 312.9 gallons

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

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

used except for the expiration date of the commodity's underlying delivery month's futures contract. 

On such date, the applicable pricing quotation will be rolled to the following month's futures contract.

Contract Series: Up to 48 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: ICE Business Days

MIC Code: IFED

Clearing Venue: ICEU
19.C.114 CRUDE DIFF – PERMIAN WTI 1ST LINE VS BRENT 1ST LINE FUTURE

Description: A monthly cash settled future based on the ICE settlement price for Permian WTI 1st 

Line Future and the ICE settlement price for Brent 1st Line Future.

Contract Symbol: HOV

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 settlement prices as made public 

by ICE for the front month Permian WTI Future and the average of the settlement prices as made 

public by ICE for the front month ICE 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 Crude 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 96 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: ICE Business Days

MIC Code: IFED

Clearing Venue: ICEU
19.C.115 CRUDE DIFF – PERMIAN WTI 1ST LINE VS WTI 1ST LINE FUTURE

Description: A monthly cash settled future based on the ICE settlement price for Permian WTI 1st 

Line Future and the ICE settlement price for WTI 1st Line Future.

Contract Symbol: HOW

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 settlement prices as made public 

by ICE for the front month Permian WTI Future contract and the average of the settlement prices as 

made public by ICE for the front month ICE WTI Future contract for each business day (as specified 

below) in the determination period.

Contract Series: Up to 96 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: ICE Business Days

MIC Code: IFED

Clearing Venue: ICEU
19.C.116 CRUDE DIFF – PERMIAN WTI 1ST LINE VS DUBAI 1ST LINE (PLATTS) FUTURE

Description: A monthly cash settled future based on the ICE daily settlement price for Permian WTI 

1st Line Future and the Platts daily assessment price for prompt Dubai.

Contract Symbol: HOX

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 settlement prices as made public 

by ICE for the front month Permian WTI Future contract and the average of the “Mid” quotations 

appearing in “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/barrel)” for 

“Dubai” for each business bay (as specified below) in the determination period.

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: Publication days for Platts Crude Oil Marketwire and ICE

MIC Code: IFED

Clearing Venue: ICEU
19.C.117 CRUDE DIFF – PERMIAN WTI TRADE MONTH VS WTI TRADE MONTH FUTURE

Description: A trade month cash settled future based on the ICE daily settlement price for Permian 

WTI Trade Month Future and the ICE daily settlement price for WTI Trade Month Future.

Contract Symbol: HOZ

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: Trading shall cease at the close of trading on the last business day that falls on or 

before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a 

weekend or holiday, trading shall cease on the first business day prior to the 25th calendar day

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 settlement prices as made public 

by ICE for the front month Permian WTI Trade Month Future contract and the average of the 

settlement prices as made public by ICE for the front month ICE WTI Trade Month Future contract 

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

Contract Series: Up to 96 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business days: ICE Business Days

MIC Code: IFED

Clearing Venue: ICEU
19.C.118 Crude Diff - Argus WTL Midland vs WTI Trade Month Future 

Description: A cash settled future based on the difference between the Argus daily assessment price 

for WTL Midland (1st Month) and the Argus daily assessment price for WTI Formula Basis (1st 

Month).

Contract Symbol: MTD

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: Trading shall cease at the close of trading on the last business day that falls on or 

before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a 

weekend or holiday, trading shall cease on the first business day prior to the 25th calendar day

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 quotations appearing in the "Argus Crude" report under 

the heading "Texas", subheading “Diff weighted average” for "WTL Midland" (1st month), for each 

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

The average of the WTL Midland (1st month) differential weighted average (Diff weighted average) 

price taken from Argus Media, is based upon the weighted average floating price of WTL Midland 

minus the “WTI Formula Basis” price from Argus Media, for the Trade month period beginning with 

the first business day after the 25th calendar day two months prior to the contract month through the 

last business day that falls on or before the 25th calendar day of the month prior to the contract month. 

If the 25th calendar day is a weekend or holiday, the Trade month period shall end on the first 

business day prior to the 25th calendar day.

Common Pricing applies

Contract Series: Up to 72 consecutive months, or as otherwise determined by the Exchange.

Business Days: ICE Business Days

MIC Code: IFED

Clearing Venue: ICEU
19.C.119 Fuel Oil Diff - Marine Fuel 0.5% FOB USGC Barges (Platts) vs. Marine Fuel 0.5% 

FOB Rotterdam Barges (Platts) Balmo Future (in MTs)

Description: A balance of the month cash settled future based on the difference between the Platts 

daily assessment price for Marine Fuel 0.5% FOB USGC Barges and the Platts daily assessment price 

for Marine Fuel 0.5% FOB Rotterdam Barges.

Contract Symbol: MFO

Contract Size: 1,000 metric tonnes

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

Currency: US Dollars and cents

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

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 difference between the average of the “Mid” quotations appearing 

in the “Platts US Marketscan” under the heading “Marine Fuel” for “0.5% FOB US Gulf Coast barge" 

and “$/MT” and the average of the “Mid” quotations appearing in the “Platts European Marketscan” 

under the heading “Marine Fuel” for “0.5% FOB Rotterdam barge and “$/mt” for each business day 

(as specified below) in the determination period.

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

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
19.C.120 Fuel Oil Diff - Marine Fuel 0.5% FOB USGC Barges (Platts) vs. Marine Fuel 0.5% 

FOB Rotterdam Barges (Platts) Future (in MTs)

Description: A monthly cash settled future based on the difference between the Platts daily 

assessment price for Marine Fuel 0.5% FOB USGC Barges and the Platts daily assessment price for 

Marine Fuel 0.5% FOB Rotterdam Barges.

Contract Symbol: MGB

Contract Size: 1,000 metric tonnes

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

Currency: US Dollars and cents

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

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 difference between the average of the “Mid” quotations appearing 

in the “Platts US Marketscan” under the heading “Marine Fuel” for “0.5% FOB US Gulf Coast barge" 

and “$/MT” and the average of the “Mid” quotations appearing in the “Platts European Marketscan” 

under the heading “Marine Fuel” for “0.5% FOB Rotterdam barge and “$/mt” for each business day 

(as specified below) in the determination period.

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

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
19.C.121 Crude Diff - Argus WTI Midland-Enterprise vs WTI Trade Month Future

Description: A cash settled future based on the difference between the Argus daily assessment price 

for WTI Midland-Enterprise (1st Month) and the Argus daily assessment price for WTI Formula 

Basis (1st Month).

Contract Symbol: MSE

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: Trading shall cease at the close of trading on the last business day that falls on or 

before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a 

weekend or holiday, trading shall cease on the first business day prior to the 25th calendar day.

Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using 

price data from a number of sources including spot, forward and derivative markets for both physical 

and financial products.

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 quotations appearing in the "Argus Crude" report under 

the heading "WTI", subheading “Diff weighted average” for "WTI Midland-Enterprise " (1st month), 

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

The average of the WTI Midland-Enterprise (1st month) differential weighted average (Diff weighted 

average) price taken from Argus Media, is based upon the weighted average floating price of WTI 

Midland-Enterprise minus the “WTI Formula Basis” price from Argus Media, for the Trade month 

period beginning with the first business day after the 25th calendar day two months prior to the 

contract month through the last business day that falls on or before the 25th calendar day of the month 

prior to the contract month. If the 25th calendar day is a weekend or holiday, the Trade month period 

shall end on the first business day prior to the 25th calendar day.

Common Pricing applies.

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Argus Crude

MIC Code: IFED

Clearing Venue: ICEU

19.C.128 Fuel Oil Diff - Marine Fuel 0.5% FOB USGC Barges (Platts) vs Marine Fuel 0.5% 

FOB Rotterdam Barges (Platts) Future (in Bbls)
Description: A monthly cash settled future based on the difference between the Platts daily 

assessment price for Marine Fuel 0.5% FOB US Gulf Coast Barges and the Platts daily assessment 

price for 0.5% FOB Rotterdam Barges Marine Fuel.

Contract Symbol: JFO

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 “Marine Fuel” for “0.5% FOB Rotterdam barge” for each business day (as specified below) 

in the determination period

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 6.35 barrels

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

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: IFED

Clearing Venue: ICEU
19.C.129 Crude Diff - Argus WTI Houston vs Dated Brent (Platts) Future

Description: A monthly cash settled future based on the difference between the Argus daily 

assessment price for WTI Houston and the Platts daily assessment price for Dated Brent.

Contract Symbol: ACB

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 quotations appearing in the "Argus 

Crude" report under the heading "US Gulf Coast and Midcontinent", subheading “Weighted average” 

for "WTI Houston" and the average of the “Mid” quotations appearing in the “Platts Crude Oil 

Marketwire” under the heading “Key benchmarks ($/barrel)” for “Brent (Dated)” for each business 

day (as specified below) in the determination period.

Non-Common Pricing Applies.

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Day in the 

determination period.

business days: Publication days for Argus Crude and Platts Crude Oil Marketwire

MIC: IFED

Clearing Venue: ICEU
19.D.1 ETHANE IN E/P MIX, OPIS CONWAY IN-WELL FUTURE

Product Name Ethane in E/P Mix, OPIS Conway In-Well Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol ECC

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS prices

a) Description “NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of ethane for delivery on 

the Delivery Date, stated in US cents, published under the heading “Conway InWell Spot Gas Liquids Prices: Ethane (in E-P): Any Current Month “ in the issue 

of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.2 ETHANE IN E/P MIX, OPIS CONWAY IN-WELL BALMO FUTURE

Product Name Ethane in E/P Mix, OPIS Conway In-Well Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol ECD

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS prices

a) Description “NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of ethane for delivery on 

the Delivery Date, stated in US cents, published under the heading “Conway InWell Spot Gas Liquids Prices: Ethane (in E-P): Any Current Month “ in the issue 

of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.3 ETHANE IN E/P MIX, OPIS MT. BELVIEU NON-TET FUTURE

Product Name Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol ECB

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU EP MIX-OPIS prices

a) Description “NGL-MONT BELVIEU EP MIX-OPIS” means that the price for a Pricing Date 

will be that day’s Specified Price per gallon of EP Mix for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: EP Mix: Any Current Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.4 ETHANE IN E/P MIX, OPIS MT. BELVIEU NON-TET BALMO FUTURE

Product Name Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol ECA

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU EP MIX-OPIS prices

a) Description “NGL-MONT BELVIEU EP MIX-OPIS” means that the price for a Pricing Date 

will be that day’s Specified Price per gallon of EP Mix for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: EP Mix: Any Current Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.5 ETHANE, OPIS MT. BELVIEU NON-TET FUTURE

Product Name Ethane, OPIS Mt. Belvieu Non-TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol ETE

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU PURITY ETHANE-OPIS prices

a) Description “NGL-MONT BELVIEU PURITY ETHANE-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of ethane for delivery on 

the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Purity Ethane: Any Current Month” in the issue of OPIS 

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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.6 ETHANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE

Product Name Ethane, OPIS Mt. Belvieu Non-TET Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol ETF

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU PURITY ETHANE-OPIS prices

a) Description “NGL-MONT BELVIEU PURITY ETHANE-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of ethane for delivery on 

the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Purity Ethane: Any Current Month” in the issue of OPIS 

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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.7 ETHANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE

Product Name Ethane, OPIS MT. Belvieu Other Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol ETD

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)

Currency US Dollars and cents

Trading Price 

Quotation

One thousandth of one cent ($0.00001) per gallon;

Settlement Price 

Quotation

One thousandth of one cent ($0.00001) per gallon;

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor 

for this contract is 42 

gallons = 1 barrel.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU Purity Ethane (Other Non-TET)-OPIS 

prices

a) Description “NGL-MONT BELVIEU Purity Ethane (Other Non-TET)-OPIS” means that the 

price for a Pricing Date will be that day’s Specified Price per gallon of ethane for 

delivery on the Delivery Date, stated in U.S. cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: Other Non-TET Purity Ethane: Any 

Current Month” in the issue of OPIS North America LPG Report 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

business days Publication days for OPIS

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.8 ISOBUTANE, OPIS CONWAY IN-WELL FUTURE

Product Name Isobutane, OPIS Conway In-Well Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol ISC

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS prices

a) Description “NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of isobutane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Conway InWell Spot Gas Liquids Prices: Isobutane: Any Current Month” in the issue of 

OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.9 ISOBUTANE, OPIS CONWAY IN-WELL BALMO FUTURE

Product Name Isobutane, OPIS Conway In-Well Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Settlement Method Cash settlement

Contract Symbol ISD

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS prices

a) Description “NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of isobutane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Conway InWell Spot Gas Liquids Prices: Isobutane: Any Current Month” in the issue of 

OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.10 ISOBUTANE, OPIS MT. BELVIEU NON-TET FUTURE

Product Name Isobutane, OPIS Mt. Belvieu Non-TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol ISO

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS prices

a) Description “NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of isobutane for 

delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: Non-TET Isobutane: Any Current 

Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.11 ISOBUTANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE

Product Name Isobutane, OPIS Mt. Belvieu Non-TET Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol ISP

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS prices

a) Description “NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of isobutane for 

delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: Non-TET Isobutane: Any Current 

Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.12 ISOBUTANE, OPIS MT. BELVIEU TET FUTURE

Product Name Isobutane, OPIS Mt. Belvieu TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol ISL

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS prices

a) Description “NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of isobutane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: TET Isobutane: Any Current Month” in the 

issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.13 ISOBUTANE, OPIS MT. BELVIEU TET BALMO FUTURE

Product Name Isobutane, OPIS Mt. Belvieu TET Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol ISQ

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS prices

a) Description “NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of isobutane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: TET Isobutane: Any Current Month” in the 

issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.14 NATURAL GASOLINE, OPIS CONWAY IN-WELL FUTURE

Product Name Natural Gasoline, OPIS Conway In-Well Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol NGC

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS prices

a) Description “NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of natural gasoline for 

delivery on the Delivery Date, stated in US cents, published under the heading 

“Conway In-Well Spot Gas Liquids Prices: N. Gasoline: Any Current Month” in 

the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.15 NATURAL GASOLINE, OPIS CONWAY IN-WELL BALMO FUTURE

Product Name Natural Gasoline, OPIS Conway In-Well Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol NGG

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS prices

a) Description “NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of natural gasoline for 

delivery on the Delivery Date, stated in US cents, published under the heading 

“Conway In-Well Spot Gas Liquids Prices: N. Gasoline: Any Current Month” in 

the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.16 NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET FUTURE

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol NGE

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS prices

a) Description “NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of natural gasoline 

for delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Gasoline: Any Current 

Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.17 NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET BALMO FUTURE

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol NGF

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS prices

a) Description “NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of natural gasoline 

for delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Gasoline: Any Current 

Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.18 NATURAL GASOLINE, OPIS MT. BELVIEU OTHER NON-TET FUTURE

Product Name Natural Gasoline, OPIS MT. Belvieu Other Non-TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below.

Contract Symbol NBC

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)

Currency US Dollars and cents

Trading Price 

Quotation

One thousandth of one cent ($0.00001) per gallon;

Settlement Price 

Quotation

One thousandth of one cent ($0.00001) per gallon;

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU N. Gasoline (Other Non-TET)-OPIS 

prices

a) Description “NGL-MONT BELVIEU N. Gasoline (Other Non-TET)-OPIS” means that 

the price for a Pricing Date will be that day’s Specified Price per gallon of 

natural gasoline for delivery on the Delivery Date, stated in U.S. cents, 

published under the heading “Mont Belvieu Spot Gas Liquids Prices: Other 

N. Gasoline: Any Current Month” in the issue of OPIS North America LPG 

Report 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by 

the Exchange.

business days Publication days for OPIS

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.19 NATURAL GASOLINE, OPIS MT. BELVIEU TET FUTURE

Product Name Natural Gasoline, OPIS Mt. Belvieu TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol NGL

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS prices

a) Description “NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of natural gasoline for 

delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: TET N. Gasoline: Any Current Month” 

or any successor heading, in the issue of OPIS LP Gas Report, or any successor 

publication, 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.20 NATURAL GASOLINE, OPIS MT. BELVIEU TET BALMO FUTURE

Product Name Natural Gasoline, OPIS Mt. Belvieu TET Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol NGK

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS prices

a) Description “NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of natural gasoline for 

delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: TET N. Gasoline: Any Current Month” 

or any successor heading, in the issue of OPIS LP Gas Report, or any successor 

publication, 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.21 NORMAL BUTANE, OPIS CONWAY IN-WELL FUTURE

Product Name Normal Butane, OPIS Conway In-Well Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol IBC

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-CONWAY N. BUTANE (IN-WELL)-OPIS prices

a) Description “NGL-CONWAY N. BUTANE (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of normal butane for 

delivery on the Delivery Date, stated in US cents, published under the heading 

“Conway In-Well Spot Gas Liquids Prices: N. Butane: Any Current Month” in 

the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.22 NORMAL BUTANE, OPIS CONWAY IN-WELL BALMO FUTURE

Product Name Normal Butane, OPIS Conway In-Well Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol IBD

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-CONWAY N. BUTANE (IN-WELL)-OPIS prices

a) Description “NGL-CONWAY N. BUTANE (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of normal butane for 

delivery on the Delivery Date, stated in US cents, published under the heading 

“Conway In-Well Spot Gas Liquids Prices: N. Butane: Any Current Month” in 

the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.23 NORMAL BUTANE, OPIS MT. BELVIEU NON-TET FUTURE

Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol NBI

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS prices

a) Description “NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of normal butane 

for delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Butane: Any Current 

Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.24 NORMAL BUTANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE

Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol NBJ

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS prices

a) Description “NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of normal butane 

for delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Butane: Any Current 

Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.25 NORMAL BUTANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE

Product Name Normal Butane, OPIS MT. Belvieu Other Non-TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol NBE

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)

Currency US Dollars and cents

Trading Price 

Quotation

One thousandth of one cent ($0.00001) per gallon;

Settlement Price 

Quotation

One thousandth of one cent ($0.00001) per gallon;

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU Normal Butane (Other NON-TET)-OPIS 

prices

a) Description “NGL-MONT BELVIEU Normal Butane (Other NON-TET)-OPIS” means that 

the price for a Pricing Date will be that day’s Specified Price per gallon of 

Normal Butane for delivery on the Delivery Date, stated in U.S. cents, published 

under the heading “Mont Belvieu Spot Gas Liquids Prices: Other Non-TET N. 

Butane: Any Current Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

business days Publication days for OPIS

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.26 NORMAL BUTANE, OPIS MT. BELVIEU TET FUTURE

Product Name Normal Butane, OPIS Mt. Belvieu TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol NBR

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-

OPIS prices

a) Description “NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS” means 

that the price for a Pricing Date will be that day’s Specified Price per gallon of 

normal butane for delivery on the Delivery Date, stated in US cents, published 

under the heading “Mont Belvieu Spot Gas Liquids Prices: TET N. Butane: Any 

Current Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.27 NORMAL BUTANE, OPIS MT. BELVIEU TET BALMO FUTURE

Product Name Normal Butane, OPIS Mt. Belvieu TET Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol NBS

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-

OPIS prices

a) Description “NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS” means 

that the price for a Pricing Date will be that day’s Specified Price per gallon of 

normal butane for delivery on the Delivery Date, stated in US cents, published 

under the heading “Mont Belvieu Spot Gas Liquids Prices: TET N. Butane: Any 

Current Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.28 BUTANE, ARGUS FAR EAST INDEX (AFEI) FUTURE

Product Name Butane, Argus Far East Index (AFEI) Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by Argus International LPG for the location specified below.

Contract Symbol ABF

Settlement Method Cash settlement

Contract Size 1,000 metric tones

Currency US Dollars and cents

Trading Price 

Quotation

One cent ($0.01) per metric tone

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

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-BUTANE (FAR EAST INDEX)-ARGUS 

INTERNATIONAL LPG prices

a) Description “NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of butane, stated in US Dollars, published under the heading “Asia-Pacific: Argus 

Far East IndexTM (AFEITM): Butane” in the issue of Argus International LPG that 

reports prices effective on that Pricing Date

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.29 BUTANE, ARGUS FAR EAST INDEX (AFEI) BALMO FUTURE

Product Name Butane, Argus Far East Index (AFEI) Balmo Future

Contract Description A balance of month cash settled future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final 

Settlement Price below.

Contract Symbol BUR

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise 

determined by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-BUTANE (FAR EAST INDEX)-ARGUS 

INTERNATIONAL LPG prices

a) Description “NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per 

tonne of butane, stated in US Dollars, published under the heading “Asia-Pacific: 

Argus Far East IndexTM (AFEITM): Butane” in the issue of Argus International 

LPG that reports prices effective on that Pricing Date

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.30 BUTANE, ARGUS FAR EAST INDEX (AFEI) MINI FUTURE

Product Name Butane, Argus Far East Index (AFEI) Mini Future

Contract Description A monthly cash settled mini future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final 

Settlement Price below.

Contract Symbol BUQ

Settlement Method Cash settlement

Contract Size 100 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by 

the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-BUTANE (FAR EAST INDEX)-ARGUS 

INTERNATIONAL LPG prices

a) Description “NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per 

tonne of butane, stated in US Dollars, published under the heading “Asia-Pacific: 

Argus Far East IndexTM (AFEITM): Butane” in the issue of Argus International 

LPG that reports prices effective on that Pricing Date

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.31 BUTANE, ARGUS CIF ARA FUTURE

Product Name Butane, Argus CIF ARA Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by Argus International LPG for the location specified in Final Settlement Price 

below.

Contract Symbol ABR

Settlement Method Cash settlement

Contract Size 1,000 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

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement 

Price

The average of NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-

ARGUS INTERNATIONAL LPG prices

a) Description “NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of butane for delivery on the Delivery Date, stated 

in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Butane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.32 BUTANE, ARGUS CIF ARA BALMO FUTURE

Product Name Butane, Argus CIF ARA Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by Argus International LPG for the location specified in Final 

Settlement Price below.

Contract Symbol BUN

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-

ARGUS INTERNATIONAL LPG prices

a) Description “NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of butane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Butane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.33 BUTANE, ARGUS CIF ARA MINI FUTURE

Product Name Butane, Argus CIF ARA Mini Future

Contract Description A monthly cash settled future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final 

Settlement Price below.

Contract Symbol ABM

Settlement Method Cash settlement

Contract Size 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

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-

ARGUS INTERNATIONAL LPG prices

a) Description “NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of butane for delivery on the Delivery Date,

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Butane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.34 BUTANE, ARGUS SAUDI CP FUTURE

Product Name Butane, Argus Saudi CP Future

Contract Description A cash settled future equal to the price published by Argus International LPG for 

the location specified in Final Settlement Price below.

Contract Symbol ABS

Settlement Method Cash settlement

Contract Size 1,000 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

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day prior to the contract month

Final Settlement Price The NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG 

price for the Pricing Date

a) Description “NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of 

butane for delivery on the Delivery Date, stated in US Dollars, published under 

the heading “International comparisons: Saudi Aramco: Butane” in the issue of 

Argus International LPG that reports prices effective on that Pricing Date

b) Pricing Date First business day of the contract month

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.35 BUTANE, ARGUS SAUDI CP MINI FUTURE

Product Name Butane, Argus Saudi CP Mini Future

Contract Description A cash settled mini future equal to the price published by Argus International 

LPG for the location specified in Final Settlement Price below.

Contract Symbol BUS

Settlement Method Cash settlement

Contract Size 100 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by 

the Exchange.

Last Trading Day Last trading day prior to the contract month

Final Settlement Price The NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG 

price for the Pricing Date

a) Description “NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per 

tonne of butane for delivery on the Delivery Date, stated in US Dollars, 

published under the heading “International comparisons: Saudi Aramco: 

Butane” in the issue of Argus International LPG that reports prices effective on 

that Pricing Date

b) Pricing Date First business day of the contract month

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.36 BUTANE, ARGUS SONATRACH CP FUTURE

Product Name Butane, Argus Sonatrach CP Future

Contract Description A cash settled future equal to the price published by Argus International LPG for 

the location specified in Final Settlement Price below.

Contract Symbol ABO

Settlement Method Cash settlement

Contract Size 1,000 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;

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day prior to the contract month

Final Settlement Price The NGL-BUTANE (SONATRACH FOB BETHIOUA)-ARGUS 

INTERNATIONAL LPG price for the Pricing Date

a) Description “NGL-BUTANE (SONATRACH FOB BETHIOUA)-ARGUS 

INTERNATIONAL LPG “ means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of butane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “International comparisons: 

Sonatrach fob Bethioua: Butane” in the issue of Argus International LPG that 

reports prices effective on that Pricing Date.

b) Pricing Date First business day of the contract month

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.37 PROPANE, ARGUS CIF ARA FUTURE

Product Name Propane, Argus CIF ARA Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by Argus International LPG for the location specified in Final Settlement Price 

below.

Contract Symbol APC

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-

ARGUS INTERNATIONAL LPG prices

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG “ means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.38 PROPANE, ARGUS CIF ARA BALMO FUTURE

Product Name Propane, Argus CIF ARA Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by Argus International LPG for the location specified in Final 

Settlement Price below.

Contract Symbol APD

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-

ARGUS INTERNATIONAL LPG prices

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.39 PROPANE, ARGUS CIF ARA MINI FUTURE

Product Name Propane, Argus CIF ARA Mini Future

Contract Description A monthly cash settled mini future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final 

Settlement Price below.

Contract Symbol AFM

Settlement Method Cash settlement

Contract Size 100 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-

ARGUS INTERNATIONAL LPG prices

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG “ means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.40 PROPANE, ARGUS FAR EAST INDEX (AFEI) FUTURE

Product Name Propane, Argus Far East Index (AFEI) Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by Argus International LPG for the location specified in Final Settlement Price 

below.

Contract Symbol AFE

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-PROPANE (FAR EAST INDEX)-ARGUS 

INTERNATIONAL prices

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG “ 

means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of propane, stated in US Dollars, published under the heading “Asia-Pacific: 

Argus Far East Index TM (AFEI TM): Propane” in the issue of Argus International 

LPG that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.41 PROPANE, ARGUS FAR EAST INDEX (AFEI) BALMO FUTURE

Product Name Propane, Argus Far East Index (AFEI) Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by Argus International LPG for the location specified in Final 

Settlement Price below.

Contract Symbol AFF

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-PROPANE (FAR EAST INDEX)-ARGUS 

INTERNATIONAL LPG prices.

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of propane, stated in US Dollars, published under the heading “Asia-Pacific: 

Argus Far East Index TM (AFEI TM): Propane” in the issue of Argus International 

LPG that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.42 PROPANE, ARGUS FAR EAST INDEX (AFEI) MINI FUTURE

Product Name Propane, Argus Far East Index (AFEI) Mini Future

Contract Description A monthly cash settled mini future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final 

Settlement Price below.

Contract Symbol AFL

Settlement Method Cash settlement

Contract Size 100 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement The average of NGL-PROPANE (FAR EAST INDEX)-ARGUS 

INTERNATIONAL LPG prices

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG “ 

means that the price for a Pricing Date will be that day’s Specified Price per 

tonne of propane, stated in US Dollars, published under the heading “AsiaPacific: Argus Far East IndexTM (AFEITM): Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.43 PROPANE, ARGUS SAUDI CP FUTURE

Product Name Propane, Argus Saudi CP Future

Contract Description A cash settled future equal to the price published by Argus International LPG for 

the location specified in Final Settlement Price below.

Contract Symbol SCP

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne;

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day prior to the contract month

Final Settlement Price The NGL-PROPANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG 

price for the Pricing Date

a) Description “NGL-PROPANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG “ 

means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of propane for delivery on the Delivery Date, stated in US Dollars, published 

under the heading “International comparisons: Saudi Aramco: Propane” in the 

issue of Argus International LPG that reports prices effective on that Pricing Date.

b) Pricing Date First business day of the contract month

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.44 PROPANE, ARGUS SAUDI CP MINI FUTURE

Product Name Butane, Argus Saudi CP Mini Future

Contract Description A cash settled mini future equal to the price published by Argus International 

LPG for the location specified in Final Settlement Price below.

Contract Symbol AFK

Settlement Method Cash settlement

Contract Size 100 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day prior to the contract month

Final Settlement Price The NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG 

price for the Pricing Date

a) Description “NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per 

tonne of butane for delivery on the Delivery Date, stated in US Dollars, published 

under the heading “International comparisons: Saudi Aramco: Butane” in the 

issue of Argus International LPG that reports prices effective on that Pricing Date

b) Pricing Date First business day of the contract month

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.45 PROPANE, ARGUS SONATRACH CP FUTURE

Product Name Propane, Argus Sonatrach CP Future

Contract Description A cash settled future equal to the price published by Argus International LPG for 

the location specified in Final Settlement Price below.

Contract Symbol AFS

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day prior to the contract month

Final Settlement Price The NGL-PROPANE (SONATRACH FOB BETHIOUA)-ARGUS 

INTERNATIONAL LPG price for the Pricing Date

a) Description “NGL-PROPANE (SONATRACH FOB BETHIOUA)-ARGUS 

INTERNATIONAL LPG “ means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “International comparisons: 

Sonatrach fob Bethioua: Propane” in the issue of Argus International LPG that 

reports prices effective on that Pricing Date.

b) Pricing Date First business day of the contract month

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.47 PROPANE, OPIS CONWAY IN-WELL FUTURE

Product Name Propane, OPIS Conway In-Well Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol PRC

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement 

Price

The average of NGL-CONWAY PROPANE (IN-WELL) prices

a) Description “NGL-CONWAY PROPANE (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Conway InWell Spot Gas Liquids Prices: Propane: Any Current Month” in the issue of OPIS 

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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.48 PROPANE, OPIS CONWAY IN-WELL BALMO FUTURE

Product Name Propane, OPIS Conway In-Well Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol PRD

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-CONWAY PROPANE (IN-WELL)-OPIS prices

a) Description “NGL-CONWAY PROPANE (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Conway InWell Spot Gas Liquids Prices: Propane: Any Current Month” in the issue of OPIS 

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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.49 PROPANE, OPIS HATTIESBURG FUTURE

Product Name Propane, OPIS Hattiesburg Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol PRH

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-HATTIESBURG PROPANE (IN-LINE)-OPIS prices

a) Description “NGL-HATTIESBURG PROPANE (IN-LINE)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Hattiesburg 

Spot Gas Liquids Prices: Propane-In-Line: Any Current Month” in the issue of 

OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.50 PROPANE, OPIS MT. BELVIEU NON-TET FUTURE

Product Name Propane, OPIS Mt. Belvieu Non-TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below.

Contract Symbol PRN

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS prices

a) Description “NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS” means that the price for 

a Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: Non-TET Propane: Any Current Month” in the 

issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.51 PROPANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE 

Product Name Propane, OPIS Mt. Belvieu Non-TET Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol PRO

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS prices

a) Description “NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS” means that the price for 

a Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: Non-TET Propane: Any Current Month” in the 

issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.52 PROPANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE

Product Name Propane, OPIS Mt. Belvieu Other Non-TET Future

Contract Description A monthly cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below.

Contract Symbol PBO

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon. 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement 

Price

The average of NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS 

prices

a) Description “NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS” means that the 

price for a Pricing Date will be that day’s Specified Price per gallon of propane 

for delivery on the Delivery Date, stated in U.S. cents, published under the 

heading “Mont Belvieu Spot Gas Liquids Prices: Other Non-TET Propane: Any 

Current Month” in the issue of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.53 PROPANE, OPIS MT. BELVIEU OTHER NON-TET BALMO FUTURE

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol PBP

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon. 

The conversion factor for this contract is 42 gallons = 1 barrel

Contract Series Up to 2 months of balance-of-month contract periods, or as otherwise 

determined by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement 

Price

The average of NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS 

prices

a) Description “NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS” means that the 

price for a Pricing Date will be that day’s Specified Price per gallon of propane 

for delivery on the Delivery Date, stated in US cents, published under the 

heading “Mont Belvieu Spot Gas Liquids Prices: Other Non-TET Propane: Any 

Current Month” in the issue of OPIS that reports prices effective on that Pricing 

Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar OPIS

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.54 PROPANE, OPIS MT. BELVIEU TET FUTURE

Product Name Propane, OPIS Mt. Belvieu TET Future

Contract Description A monthly cash settled Exchange Futures Contract based upon the average of the 

daily prices published by OPIS for the location specified in Reference Price A.

Contract Symbol PRL

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly Contract Periods, or as otherwise determined by the 

Exchange.

Last Trading Day The last Business Day of the Contract Period

Final Settlement Price Average of Reference Price A prices

a) Description "NGL-MONT BELVIEU PROPANE (TET)-OPIS" means that the price for a 

Pricing Date will be that day's Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in U.S. cents, published under the heading "Mont 

Belvieu Spot Gas Liquids Prices: TET Propane: Any Current Month" in the issue 

of OPIS 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

e) Delivery Date Contract Period

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

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.55 PROPANE, OPIS MT. BELVIEU TET BALMO FUTURE

Product Name Propane, OPIS Mt. Belvieu TET Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS for the location specified in Final Settlement Price 

below.

Contract Symbol PRM

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (TET)-OPIS prices

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: TET Propane: Any Current Month” in the issue 

of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.56 PROPANE, OPIS MT. BELVIEU TET MINI FUTURE

Product Name Propane, OPIS Mt. Belvieu TET Mini Future

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in below.

Contract Symbol PLM

Settlement Method Cash settlement

Contract Size 100 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (TET)-OPIS prices

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: TET Propane: Any Current Month” in the issue 

of OPIS 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

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.57 PROPANE, OPIS MT. BELVIEU TET VS PROPANE, ARGUS FAR EAST INDEX (AFEI) 

FUTURE

Product Name Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) 

Future

Contract Description A monthly cash settled future based upon the mathematical result of subtracting 

the average of the daily prices published by Argus International LPG for the 

location specified in Reference Price B from the average of the daily prices 

published by OPIS for the location specified in Reference Price A.

For purposes of determining the Final Settlement Price, the OPIS price will be 

converted each day to US Dollars and cents per metric tonne, rounded to the 

nearest cent. The conversion factor will be 521 gallons per metric tonne.

Contract Symbol CEY

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference 

Price B prices. Non-common pricing applies.

Reference Price A NGL-MONT BELVIEU PROPANE (TET)-OPIS

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in U.S. cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: TET Propane: Any Current Month” in the issue 

of OPIS 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

e) Delivery Date Contract month

Reference Price B NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of propane, stated in U.S. Dollars, published under the heading “Asia-Pacific: 

Refrigerated cargoes: Argus Far East IndexTM (AFEITM): Propane” in the issue of 

Argus International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date
Product Name Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) 

Future

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.58 PROPANE, OPIS MT. BELVIEU NON-TET VS PROPANE, ARGUS FAR EAST INDEX (AFEI) 

FUTURE

Product Name Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index 

(AFEI) Future

Contract Description A monthly cash settled future based upon the mathematical result of subtracting 

the average of the daily prices published by Argus International LPG for the 

location specified in Reference Price B from the average of the daily prices 

published by OPIS for the location specified in Reference Price A.

For purposes of determining the Final Settlement Price, the OPIS price will be 

converted each day to US Dollars and cents per metric tonne, rounded to the 

nearest cent. The conversion factor will be 521 gallons per metric tonne.

Contract Symbol CEZ

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference 

Price B prices. Non-common pricing applies.

Reference Price A NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS

a) Description “NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS” means that the price for 

a Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in U.S. cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: Non-TET Propane: Any Current Month” in the 

issue of OPIS 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

e) Delivery Date Contract month

Reference Price B NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of propane, stated in U.S. Dollars, published under the heading “Asia-Pacific: 

Refrigerated cargoes: Argus Far East IndexTM (AFEITM): Propane” in the issue of 

Argus International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date
Product Name Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index 

(AFEI) Future

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.59 PROPANE, OPIS MT. BELVIEU TET VS PROPANE, ARGUS CIF ARA FUTURE

Product Name Propane, OPIS MT. Belvieu Tet vs Propane, Argus CIF ARA Future 

Contract Description A monthly cash settled future based upon the mathematical result of subtracting 

the average of the daily prices published by Argus International LPG for the 

location specified in Reference Price B from the average of the daily prices 

published by OPIS for the location specified in Reference Price A.

For purposes of determining the Final Settlement Price, the OPIS price will be 

converted each day to US dollars and cents per metric tonne, rounded to the 

nearest cent. The conversion factor will be 521 gallons per metric tonne.

Contract Symbol CEK

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement 

Price

The average of the Reference Price A prices minus the average of the Reference 

Price B prices. Non-common pricing applies.

Reference Price A NGL-MONT BELVIEU PROPANE (TET)-OPIS

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: TET Propane: Any Current Month” in the 

issue of OPIS that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar OPIS

e) Delivery Date Contract month

Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date
Product Name Propane, OPIS MT. Belvieu Tet vs Propane, Argus CIF ARA Future 

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.60 PROPANE, OPIS MT. BELVIEU NON-TET VS PROPANE, ARGUS CIF ARA FUTURE

Product Name Propane, OPIS MT. Belvieu Tet vs Propane, Argus CIF ARA Future 

Contract Description A monthly cash settled future based upon the mathematical result of subtracting 

the average of the daily prices published by Argus International LPG for the 

location specified in Reference Price B from the average of the daily prices 

published by OPIS for the location specified in Reference Price A.

For purposes of determining the Final Settlement Price, the OPIS price will be 

converted each day to US dollars and cents per metric tonne, rounded to the 

nearest cent. The conversion factor will be 521 gallons per metric tonne.

Contract Symbol CEJ

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement 

Price

The average of the Reference Price A prices minus the average of the Reference 

Price B prices. Non-common pricing applies.

Reference Price A NGL-MONT BELVIEU PROPANE (TET)-OPIS

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: TET Propane: Any Current Month” in the 

issue of OPIS that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar OPIS

e) Delivery Date Contract month

Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date
Product Name Propane, OPIS MT. Belvieu Tet vs Propane, Argus CIF ARA Future 

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.61 NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET VS WTI 1ST LINE FUTURE

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET vs WTI 1st Line Future

Contract Description A monthly cash settled future based upon the mathematical result of subtracting 

the average of the daily prices published by NYMEX for the location specified in 

Reference Price B below from the average of the daily prices published by OPIS 

for the location specified in Reference Price A below.

Contract Symbol NGW

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per barrel;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference 

Price B prices

Reference Price A NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS

a) Description “NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of natural gasoline 

for delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Gasoline: Any Current 

Month” in the issue of OPIS 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

e) Delivery Date Contract month

Reference Price B OIL-WTI-NYMEX

a) Description “OIL-WTI-NYMEX” means that the price for a Pricing Date will be that day’s 

Specified Price per barrel of the NYMEX Light Sweet Crude Oil Futures for the 

Delivery Date, stated in US Dollars, as made public by the NYMEX on that 

Pricing Date.

b) Pricing Date Each trading day of the NYMEX Light Sweet Crude Oil Futures Contract during 

the Contract month

c) Specified Price Settlement price

d) Pricing calendar NYMEX
Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET vs WTI 1st Line Future

e) Delivery Date First Nearby Month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.63 NGL BASKET, OPIS MT. BELVIEU NON-TET FUTURE

Product Name NGL Basket, OPIS Mt. Belvieu Non-TET Future

Contract Description A monthly cash settled future based upon the barrel components average of the 

daily prices published by OPIS for the locations specified in Final Settlement 

Price below. 

Contract Symbol NGB

Settlement Method Cash settlement

Contract Size 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

The conversion factor for this contract is 42 gallons = 1 barrel

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by 

the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement 

Price

The average of 42% NGL-MONT BELVIEU Ethane (NON-TET)-OPIS; 28% 

NGL-MONT BELVIEU Propane (NON-TET)-OPIS; 11% NGL-MONT 

BELVIEU Normal Butane (NON-TET)-OPIS; 6% NGL MONT BELVIEU 

Isobutane (NON-TET)-OPIS; 13% MONT BELVIEU Natural Gasoline (NONTET)-OPIS prices

a) Description “42% NGL-MONT BELVIEU Ethane (NON-TET )-OPIS; 28% NGL-MONT 

BELVIEU Propane (NON-TET)-OPIS; 11% NGL-MONT BELVIEU Normal 

Butane (NON-TET)-OPIS; 6% NGL MONT BELVIEU Isobutane (NON-TET)-

OPIS; 13% MONT BELVIEU Natural Gasoline (NON-TET)-OPIS” means that 

the price for a Pricing Date will be that day’s Specified Price per gallon of each 

listed component multiplied by the percentage of the barrel for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Non-TET Ethane/Propane/Normal 

Butane/Isobutane/Natural Gasoline: Any Current Month” in the issue of OPIS 

that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar OPIS

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

19.D.64 PROPANE, ARGUS CIF ARA VS NAPHTHA CIF NWE CARGOES (PLATTS) FUTURE

Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Future

Contract Description A monthly cash settled future based upon the mathematical result of subtracting 

the average of the daily prices published by Platts European Marketscan for the 

location specified in Reference Price B from the average of the daily prices 

published by Argus International LPG for the location specified in Reference Price 

A.

Contract Symbol APN

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference 

Price B prices. Non-common pricing applies.

Reference Price A NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Reference Price B NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS 

EUROPEAN MARKETSCAN

a) Description “NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS 

EUROPEAN MARKETSCAN” means that the price for a Pricing Date will be 

that day’s Specified Price per metric tonne of naphtha, stated in US Dollars, 

published under the heading “Northwest Europe cargoes: CIF NWE/Basis ARA: 

Naphtha” in the issue of Platts European Marketscan that reports prices effective 

on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date
Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Future

c) Specified Price Price

d) Pricing calendar Platts European Marketscan

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.65 PROPANE, ARGUS CIF ARA VS NAPHTHA CIF NWE CARGOES (PLATTS) BALMO 

FUTURE

Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo 

Future

Contract Description A balance of the month cash settled future based upon the mathematical result of 

subtracting the average of the daily prices published by Platts European 

Marketscan for the location specified in Reference Price B from the average of the 

daily prices published by Argus International LPG for the location specified in 

Reference Price A.

Contract Symbol ABG

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 2 months of balance-of-month contract periods, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference 

Price B prices. Non-common pricing applies.

Reference Price A NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in U.S. Dollars, published under the heading “Europe: cif ARA (large 

cargoes): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Reference Price B NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS 

EUROPEAN MARKETSCAN

a) Description “NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS 

EUROPEAN MARKETSCAN” means that the price for a Pricing Date will be 

that day’s Specified Price per metric tonne of naphtha, stated in U.S. Dollars, 

published under the heading “Northwest European cargoes: CIF NWE/Basis 

ARA: Naphtha” in the issue of Platts European Marketscan that reports prices 

effective on that Pricing Date.
Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo 

Future

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Platts European Marketscan

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.66 PROPANE, ARGUS FAR EAST INDEX (AFEI) VS NAPHTHA C+F JAPAN CARGOES 

(PLATTS) FUTURE

Product Name Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes 

(Platts) Future

Contract Description A monthly cash settled future based upon the mathematical result of subtracting 

the average of the daily prices published by Platts Asia-Pacific/Arab Gulf 

Marketscan for the location specified in Reference Price B from the average of the 

daily prices published by Argus International LPG for the location specified in 

Reference Price A.

Contract Symbol ARR

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference 

Price B prices. Non-common pricing applies.

Reference Price A NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of propane, stated in U.S. Dollars, published under the heading “Asia-Pacific: 

Refrigerated cargoes: Argus Far East IndexTM (AFEITM): Propane” in the issue of 

Argus International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Reference Price B NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-PLATTS ASIAPACIFIC/ARAB GULF MARKETSCAN

a) Description “NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-PLATTS ASIAPACIFIC/ARAB GULF MARKETSCAN” means that the price for a Pricing Date 

will be that day’s Specified Price per metric tonne of naphtha, stated in U.S. 

Dollars, published under the heading “Japan physical oil assessments: C+F Japan 

($/mt): Naphtha” in the issue of Platts Asia-Pacific/Arab Gulf Marketscan that 

reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date
Product Name Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes 

(Platts) Future

c) Specified Price Price

d) Pricing calendar Platts Asia-Pacific/Arab Gulf Marketscan

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.67 PROPANE, ARGUS FAR EAST INDEX VS NAPHTHA C+F JAPAN (PLATTS) BALMO 

FUTURE

Product Name Propane, Argus Far East Index vs Naphtha C+F Japan (Platts) Balmo Future

Contract Description A balance of the month cash settled future based upon the mathematical result of 

subtracting the average of the daily prices published by Platts Asia-Pacific/Arab 

Gulf Marketscan for the location specified in Reference Price B from the average 

of the daily prices published by Argus International LPG for the location specified 

in Reference Price A.

Contract Symbol ABK

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 2 months of balance-of-month contract periods, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference 

Price B prices. Non-common pricing applies.

Reference Price A NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG

a) Description "NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG " 

means that the price for a Pricing Date will be that day's Specified Price per tonne 

of propane, stated in U.S. Dollars, published under the heading "Asia-Pacific: 

Refrigerated cargoes: Argus Far East IndexTM (AFEITM): Propane" in the issue of 

Argus International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Reference Price B NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-PLATTS ASIAPACIFIC/ARAB GULF MARKETSCAN

a) Description "NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-PLATTS ASIAPACIFIC/ARAB GULF MARKETSCAN" means that the price for a Pricing Date 

will be that day's Specified Price per metric tonne of naphtha, stated in U.S. 

Dollars, published under the heading " Japan physical oil assessments: C+F Japan 

($/mt): Naphtha" in the issue of Platts Asia-Pacific/Arab Gulf Marketscan that 

reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date
Product Name Propane, Argus Far East Index vs Naphtha C+F Japan (Platts) Balmo Future

c) Specified Price Price

d) Pricing calendar Platts Asia-Pacific/Arab Gulf Marketscan

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.68 PROPANE, ARGUS FAR EAST INDEX (AFEI) VS PROPANE, ARGUS CIF ARA FUTURE

Product Name Propane, Argus Far East Index (AFEI) vs. Propane, Argus CIF ARA Future

Contract Description A monthly cash settled future based upon the mathematical result of subtracting 

the average of the daily prices published by Argus International LPG for the 

location specified in Reference Price B from the average of the daily prices 

published by Argus International LPG for the location specified in Reference Price 

A.

Contract Symbol EGD

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement 

Price

The average of the Reference Price A prices minus the average of the Reference 

Price B prices. Non-common pricing applies.

Reference Price A NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of propane, stated in US Dollars, published under the heading “Asia-Pacific: 

Argus Far East Index TM (AFEI TM): Propane” in the issue of Argus International 

LPG that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price
d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.69 PROPANE, ARGUS FAR EAST INDEX (AFEI) VS PROPANE, ARGUS CIF ARA BALMO 

FUTURE

Product Name Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Balmo 

Future

Contract Description A balance of the month cash settled future based upon the mathematical result of 

subtracting the average of the daily prices published by Argus International LPG 

for the location specified in Reference Price B from the average of the daily prices 

published by Argus International LPG for the location specified in Reference Price 

A.

Contract Symbol EGE

Settlement Method Cash settlement

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne.

Contract Series Up to 2 months of balance-of-month contract months, or as otherwise determined 

by the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference 

Price B prices. Non-common pricing applies.

Reference Price A NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of propane, stated in US Dollars, published under the heading “Asia-Pacific: 

Argus Far East Index TM (AFEI TM): Propane” in the issue of Argus International 

LPG that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date
Product Name Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Balmo 

Future

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.70 ETHANE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION

Product Name Ethane, OPIS Mt. Belvieu Non-TET Average Price Option

Contract Description A monthly Average Price Option on the corresponding contract month 

of the Ethane, OPIS Mt. Belvieu Non-TET Future.

Contract Symbol ETE

Settlement Method Exercise into Underlying Futures Contract

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise 

determined by the Exchange.

Last Trading Day Last trading day of the contract month

Option Style Average Price

Exercise Method Automatic only

Exercise Procedure Manual exercise or abandon is not permitted

Exercise Day The second Clearing House 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 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 NGL-MONT BELVIEU PURITY ETHANE-OPIS

a) Description “NGL-MONT BELVIEU PURITY ETHANE-OPIS” means that the 

price for a Pricing Date will be that day’s Specified Price per gallon of 

ethane for delivery on the Delivery Date, stated in US cents, published 

under the heading “Mont Belvieu Spot Gas Liquids Prices: Purity 

Ethane: Any Current Month” in the issue of OPIS 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

e) Delivery Date Contract month

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10000 per gallon 

above and below the at-the-money Strike Price. Strike Price boundaries 
Product Name Ethane, OPIS Mt. Belvieu Non-TET Average Price Option

are adjusted according to futures price movements. User-defined Strike 

Prices are allowed in $0.00001 increments.

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.71 NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Average Price Option

Contract Description A monthly Average Price Option on the corresponding contract month 

of the Natural Gasoline, OPIS Mt. Belvieu Non-TET Future.

Contract Symbol NGE

Settlement Method Exercise into Underlying Futures Contract

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise 

determined by the Exchange.

Last Trading Day Last trading day of the contract month

Option Style Average Price

Exercise Method Automatic only

Exercise Procedure Manual exercise or abandon is not permitted

Exercise Day The second Clearing House 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 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 NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS

a) Description “NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS” means 

that the price for a Pricing Date will be that day’s Specified Price per 

gallon of natural gasoline for delivery on the Delivery Date, stated in US 

cents, published under the heading “Mont Belvieu Spot Gas Liquids 

Prices: Non-TET N. Gasoline: Any Current Month” in the issue of 

OPIS 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

e) Delivery Date Contract month

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10000 per gallon 

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 $0.00001 increments. 
Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.72 NORMAL BUTANE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION

Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Option

Contract Description A monthly Average Price Option on the corresponding contract month 

of the Normal Butane, OPIS Mt. Belvieu Non-TET Future.

Contract Symbol NBI

Settlement Method Exercise into Underlying Futures Contract

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise 

determined by the Exchange.

Last Trading Day Last trading day of the contract month

Option Style Average Price

Exercise Method Automatic only

Exercise Procedure Manual exercise or abandon is not permitted

Exercise Day The second Clearing House 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 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 NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS

a) Description “NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS” means that 

the price for a Pricing Date will be that day’s Specified Price per gallon 

of normal butane for delivery on the Delivery Date, stated in US cents, 

published under the heading “Mont Belvieu Spot Gas Liquids Prices: 

Non-TET N. Butane: Any Current Month” in the issue of OPIS 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

e) Delivery Date Contract month

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10000 per gallon 

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 $0.00001 increments. 
Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.73 PROPANE, OPIS CONWAY IN-WELL AVERAGE PRICE OPTION

Product Name Propane, OPIS Conway In-Well Average Price Option

Contract Description A monthly Average Price Option on the corresponding contract month 

of the Propane, OPIS Conway In-Well Future.

Contract Symbol PRC

Settlement Method Exercise into Underlying Futures Contract

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise 

determined by the Exchange.

Last Trading Day Last trading day of the contract month

Option Style Average Price

Exercise Method Automatic only

Exercise Procedure Manual exercise or abandon is not permitted

Exercise Day The second Clearing House 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 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 NGL-CONWAY PROPANE (IN-WELL)-OPIS

a) Description “NGL-CONWAY PROPANE (IN-WELL)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of 

propane for delivery on the Delivery Date, stated in US cents, published 

under the heading “Conway In-Well Spot Gas Liquids Prices: Propane: 

Any Current Month” in the issue of OPIS 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

e) Delivery Date Contract month

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10000 per gallon 

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 $0.00001 increments. 
Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.74 PROPANE, OPIS MT. BELVIEU TET AVERAGE PRICE OPTION

Product Name Propane, OPIS Mt. Belvieu TET Average Price Option

Contract Description A monthly Average Price Option on the corresponding contract month 

of the Propane, OPIS Mt. Belvieu TET Future.

Contract Symbol PRL

Settlement Method Exercise into Underlying Futures Contract

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise 

determined by the Exchange.

Last Trading Day Last trading day of the contract month

Option Style Average Price

Exercise Method Automatic only

Exercise Procedure Manual exercise or abandon is not permitted

Exercise Day The second Clearing House 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 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 NGL-MONT BELVIEU PROPANE (TET)-OPIS

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of 

propane for delivery on the Delivery Date, stated in US cents, published 

under the heading “Mont Belvieu Spot Gas Liquids Prices: TET 

Propane: Any Current Month” in the issue of OPIS 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

e) Delivery Date Contract month

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10000 per gallon 

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 $0.00001 increments. 
Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.75 ETHANE IN E/P MIX, OPIS CONWAY IN-WELL AVERAGE PRICE OPTION

Product Name Ethane in E/P Mix, OPIS Conway In-Well Average Price Option

Contract Description A monthly Average Price Option on the corresponding contract month 

of the Ethane in E/P Mix, OPIS Conway In-Well Future

Contract Symbol ECC

Settlement Method Exercise into Underlying Futures Contract

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Series Up to 72 consecutive monthly contract months, or as otherwise 

determined by the Exchange.

Last Trading Day Last trading day of the contract month

Option Style Average Price

Exercise Method Automatic only

Exercise Procedure Manual exercise or abandon is not permitted

Exercise Day The second Clearing House 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 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 NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS

a) Description “NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS” means that the 

price for a Pricing Date will be that day’s Specified Price per gallon of 

ethane for delivery on the Delivery Date, stated in US cents, published 

under the heading “Conway In-Well Spot Gas Liquids Prices: Ethane 

(in E-P): Any Current Month “ in the issue of OPIS 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

e) Delivery Date Contract month

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10 per gallon 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 $0.0001 increments
Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.76 PROPANE, ARGUS CIF ARA AVERAGE PRICE OPTION

Product Name Propane, Argus CIF ARA Average Price Option 

Contract Description A monthly Average Price Option on the corresponding contract month of the 

Propane, Argus CIF ARA Future

Contract Symbol APC

Settlement Method Exercise into Underlying Futures Contract

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by 

the Exchange.

Last Trading Day Last trading day of the contract month

Option Style Average Price

Exercise Method Automatic only

Exercise Procedure Manual exercise or abandon is not permitted

Exercise Day The second Clearing House 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 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 NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG “ means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, 

stated in US Dollars, published under the heading “Northwest Europe and 

Mediterranean: cif ARA (large cargoes): Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date

b) -Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Strike Pricing 

Listing Provisions

A minimum of a ten Strike Prices in increments of $0.50 per metric tonne 

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 $0.01 increments.
Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19.D.77 PROPANE, ARGUS FAR EAST INDEX (AFEI) AVERAGE PRICE OPTION

Product Name Propane, Argus Far East Index (AFEI) Average Price Option

Contract Description A monthly Average Price Option on the corresponding contract month of the 

Propane, Argus Far East Index (AFEI) Future.

Contract Symbol AFE

Settlement Method Exercise into Underlying Futures Contract

Contract Size 1,000 metric tonnes

Currency US Dollars and cents

Minimum Price 

Fluctuation

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods, or as otherwise determined by the 

Exchange.

Last Trading Day Last trading day of the contract month

Option Style Average Price

Exercise Method Automatic only

Exercise Procedure Manual exercise or abandon is not permitted

Exercise Day The second Clearing House 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 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 NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” 

means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of propane, stated in US Dollars, published under the heading “Asia-Pacific: 

Argus Far East IndexTM (AFEITM): Propane” in the issue of Argus International 

LPG that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar Argus International LPG

e) Delivery Date Contract month

Strike Pricing Listing 

Provisions

A minimum of ten Strike Prices in increments of $0.50 per metric tonne 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 

$0.01 increments.

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

19.D.78 RESERVED
19.D.79 PROPANE - DAILY ARGUS FAR EAST FUTURE

Description: A daily cash settled mini future based on the Argus daily assessment price for Propane Far East.

Contract Symbol: AFD

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: Second Business Day after the nominal contract date

Floating Price: In respect of daily settlement, the Floating Price for daily settlement will be determined by ICE 

using price data from a number of sources including spot, forward and derivative markets for both physical and 

financial products. 

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

Tonne based on the average of the relevant high and low quotations appearing in the 'Argus International LPG 

Report' under the heading Asia-Pacific for Propane Argus Far East Index 

Contract Series: Up to 130 consecutive days, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Argus International LPG Report

MIC Code: IFED

Clearing Venue: ICEU
19.D.80 BUTANE, ARGUS CIF ARA MINI BALMO FUTURE

Description: A balance of the month cash settled future based upon the average of the daily prices published by 

Argus International LPG for the location specified in Reference Price A

Contract Symbol: BUK

Contract Size: 100 metric tonnes

Unit of Trading: Any multiple of 100 metric tonnes

Currency: US Dollars and cents

Trading Price Quotation: One tenth of one cent ($0.001) 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

Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using price data 

from a number of sources including spot, forward and derivative markets for both physical and financial 

products.

Final Settlement Price: Average of Reference Price A prices

REFERENCE PRICE A: NGL-BUTANE (EUROPE:CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG

a) Ref Price A - Description: “NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s Specified Price per tonne 

of butane for delivery on the Delivery Date, stated in US Dollars, published under the heading “northwest 

Europe and Mediterranean: CIF ARA (large cargoes): Butane” in the issues of Argus International LPG that 

reports prices effective on that Pricing Date

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

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

business days: Publication days for Argus International LPG

MIC Code: IFED

Clearing Venue: ICEU
19.D.81 Propane, OPIS Edmonton Future

Description: A monthly cash settled Exchange Futures Contract based upon the average of the daily 

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

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Symbol: EDO

Settlement Method: Cash settlement

Contract Size: 1000 barrels

Currency: US Dollars and cents

Minimum Price Fluctuation: The price quotation convention shall be One thousandth of a cent 

($0.00001) per gallon; minimum price fluctuation may vary by trade type. Please see Table in 

Resolution 1 to this Chapter 18. 

Listing Cycle: Up to 72 consecutive monthly Contract Periods, or as otherwise determined by the 

Exchange.

Last Trading Day: Last Trading Day of the contract month

Final Settlement: Average of Reference Price A prices

REFERENCE PRICE A: NGL-EDMONTON PROPANE-OPIS

a) Description: "NGL-EDMONTON PROPANE-OPIS" means that the price for a Pricing Date 

will be that day's Specified Price per gallon of propane for delivery on the Delivery Date, 

stated in U.S. cents, published under the heading "OPIS Edmonton Spot Gas Liquids Prices: 

Propane: Any Current Month" in the issue of OPIS that reports prices effective on that Pricing 

Date.

b) Pricing Date: Each day that prices are reported for the Delivery Date

c) Specified Price: Price

d) Pricing calendar: OPIS

e) Delivery Date: Contract month

Final Payment Date: Two Clearing House Business Days following the Last Trading Day

MIC: IFED

Clearing Venue: ICEU
19.D.82 Normal Butane, OPIS LST ISOM Grade Future

Description: A monthly cash settled Exchange Futures Contract based upon the average of the daily 

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

The conversion factor for this contract is 42 gallons = 1 barrel.

Contract Symbol: BUE

Settlement Method: Cash settlement

Contract Size: 1000 barrels

Currency: US Dollars and cents

Minimum Price Fluctuation: The price quotation convention shall be One thousandth of a cent 

($0.00001) per gallon; minimum price fluctuation may vary by trade type. Please see Table in 

Resolution 1 to this Chapter 18. 

Listing Cycle: Up to 72 consecutive monthly Contract Periods, or as otherwise determined by the 

Exchange.

Last Trading Day: Last Trading Day of the contract month

Final Settlement: Average of Reference Price A prices

REFERENCE PRICE A: NGL-TET Isom N. Butane-OPIS

a) Description: “NGL-TET Isom N. Butane-OPIS " means that the price for a Pricing Date will 

be that day's Specified Price per gallon of butane for delivery on the Delivery Date, stated in 

U.S. cents, published under the heading "OPIS Mont Belvieu Spot Gas Liquids Prices: TET 

Isom N. Butane: Any Current Month" in the issue of OPIS that reports prices effective on that 

Pricing Date.

b) Pricing Date: Each day that prices are reported for the Delivery Date

c) Specified Price: Price

d) Pricing calendar: OPIS

e) Delivery Date: Contract month

Final Payment Date: Two Clearing House Business Days following the Last Trading Day

MIC: IFED

Clearing Venue: ICEU
19.F.01 CRUDE DIFF – WTI 1-MONTH CALENDAR SPREAD OPTION

Product Name Crude Diff – WTI 1-Month Calendar Spread Option

Contract Description A WTI Crude Oil 1-Month Calendar Spread Option, which will 

automatically exercise into the WTI 1-month Calendar Spread 

Future on the day of expiry of the options contract.

Contract Symbol TIA

Contract Size per lot 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels. 

For Call Options the first underlying ICE WTI Crude Futures 

contract month settlement less the second ICE WTI Crude Futures 

contract month settlement less the strike price, or zero, whichever is 

greater. 

For Put Options, the strike price less the first ICE WTI Crude 

Futures contract month Settlement Price less the second ICE WTI 

Crude Futures contract month settlement, or zero, whichever is 

greater.

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 Close of business on the last trading day of the underlying ICE 

Futures Europe WTI Crude Futures Contract

Option Type Options are European style and will be automatically exercised on 

the expiry day if they are “in the money”. 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. 

No manual exercise is permitted.

Expiry 14:30 EPT (19:30 London Time) 

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. Clearing 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 difference of the nearby ICE Futures Europe WTI 
Crude Futures contract and the next consecutive contract month of 

the ICE Futures Europe WTI Crude Futures contract series. 

Strike Price Intervals Standard $0.05 strikes from 20 strikes above and below the at-themoney strike. Additional strikes added as appropriate. The “at-themoney” strike price is the closest interval nearest to the previous 

Business Day’s Settlement Price of the corresponding underlying 1-

month calendar spread contract.

Contract Series Up to 48 consecutive 1-month calendar spreads, or as otherwise 

determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.02 CRUDE DIFF – WTI VS BRENT SPREAD OPTION

Product Name Crude Diff – WTI vs Brent Spread Option

Contract Description The WTI vs Brent Spread Option is based on the difference between 

the ICE Futures Europe daily settlement price for WTI Futures and 

the ICE Futures Europe daily settlement price for Brent Futures, 

and will automatically exercise into the ICE WTI vs Brent Bullet 

Futures Contract on the day of expiry of the options contract.

Contract Symbol TIB

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 Trading shall end one Business Day prior to the expiration day of 

the ICE Futures Europe Brent Crude Futures Contract. 

Option Type Options are European-style and will be automatically exercised 

on the expiry day if they are “in-the-money”. The Futures 

Contract resulting from exercise immediately goes to cash 

settlement. 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 14:30 EPT (19:30 London Time)

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. Clearing 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 

based on the difference of the applicable ICE WTI Crude Futures 

contract and the ICE Brent Crude Futures contract series. , 

Strike Price Intervals This contract will support custom Option strikes with strikes 

in increments of $0.01 within a range of -$100 to +$100. This range 

may be revised from time to time according to futures price 

movements. The “at-the-money” strike price is the closest 

interval nearest to the previous business day's Settlement Price 
of the underlying contract.

Contract Series Up to 36 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading 

Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.03 CRUDE OUTRIGHT – WTI AVERAGE PRICE OPTION 

Product Name Crude Outright – WTI Average Price Option

Contract Description The WTI Average Price Option is based on the underlying ICE 

WTI 1st Line Future and will automatically exercise into the 

Settlement Price of the WTI 1st Line Future on the day of 

expiry of the options contract.

Contract Symbol R

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 Type Options are Asian-style and will be automatically exercised on 

the expiry day if they are in-the-money. The Futures 

Contract resulting from exercise immediately goes to cash 

settlement. 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 14:30 EPT (19:30 London Time).

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. Clearing 

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 as made public 

by ICE for the WTI 1st Line Future for the contract month. 

Strike Prices 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, or as otherwise determined by 

the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading 

Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.04 CRUDE OUTRIGHT – ARGUS LLS AVERAGE PRICE OPTION

Product Name Crude Outright – Argus LLS Average Price Option

Contract Description The Argus LLS Average Price Option is based on the underlying ICE Argus 

LLS Future and will automatically exercise into the Argus LLS Future on 

the day of expiry of the options contract.

Contract Symbol ARH

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 Type Options are average priced and will be automatically exercised into the 

Argus LLS Future on the expiry day if they are “in the money”. The Futures 

Contract resulting from exercise immediately goes to cash settlement. 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 14:30 EPT (19:30 London Time)

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. Clearing 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 of the Argus LLS Future for the contract 

month. 

Strike Price Intervals This contract will support custom Option strikes with strikes in increments 

of $0.01 within a range of $20 to $240. This range may be revised from time 

to time according to future price movements. The at-the-money strike price 

is the closest interval nearest to the previous Business Day's Settlement 

Price of the Underlying Futures Contract

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day
business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.05 CRUDE DIFF – ARGUS LLS VS WTI 1ST LINE AVERAGE PRICE OPTION

Product Name Crude Diff – Argus LLS vs WTI 1st Line Average Price Option

Contract Description The Argus LLS vs WTI 1st Line Average Price Option is based on the 

underlying Argus LLS vs WTI 1st Line Future (ARK) and will 

automatically exercise into the Argus LLS vs WTI 1st Line Future (ARK) 

on the day of expiry of the options contract

Contract Symbol ARK

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 Type Options are average priced and will be automatically exercised into the 

Argus LLS vs WTI 1st Line Future on the expiry day if they are "in the 

money". The Future Contract resulting from exercise immediately goes to 

cash settlement. 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 14:30 EPT (19:30 London Time)

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. Clearing 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 of the Argus LLS vs WTI 1st Line Future 

for the contract month. 

Strike Price Intervals This contract will support custom Option strikes with strikes in increments 

of $0.01 within a range of -$10 to $25. This range may be revised from 

time to time according to future price movements. The at-the-money strike 

price is the closest interval nearest to the previous business day's 

Settlement Price of the underlying contract

Contract Series Up to 60 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude
Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.06 CRUDE DIFF - ARGUS LLS VS WTI TRADE MONTH AVERAGE PRICE OPTION

Product Name Crude Diff - Argus LLS vs WTI Trade Month Average Price Option

Contract Description The Argus LLS vs WTI Trade Month Average Price Option is based on 

the underlying Argus LLS vs WTI Trade Month Future and will 

automatically exercise into the Argus LLS vs WTI Trade Month Future on 

the day of expiry of the options contract.

Contract Symbol ARL

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 Trading shall cease at the close of trading on the last business bay that 

falls on or before the 25th calendar day of the month prior to the contract 

month. If the 25th calendar day is a weekend or holiday, trading shall 

cease on the first business day prior to the 25th calendar day.

Option Type Options are average priced and will be automatically exercised into the 

Argus LLS vs WTI Trade Month Future on the expiry day if they are "in 

the money". The Futures Contract resulting from exercise immediately 

goes to cash settlement. 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 14:30 EPT (19:30 London Time) 

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. Clearing 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 of the Argus LLS vs WTI Trade 

Month Future for the contract month. 

Strike Price Intervals This contract will support Custom Option Strikes with a minimum of 10 

Strike Prices in increments of $0.01 per bbl above and below the at-themoney Strike Price. Strike Price boundaries are adjusted according to 

futures price movements. User-defined Strike Prices are allowed in $0.01 

increments.

Contract Series Up to 60 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude
Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.07 CRUDE DIFF - ARGUS WTI MIDLAND VS WTI 1ST LINE AVERAGE PRICE OPTION

Product Name Crude Diff - Argus WTI Midland vs WTI 1st Line Average Price Option

Contract Description The Argus WTI Midland vs WTI 1st Line Average Price Option is based on 

the underlying Argus WTI Midland vs WTI 1st Line Future and will 

automatically exercise into the Argus WTI Midland vs WTI 1st Line Future 

on the day of expiry of the options contract.

Contract Symbol MLT

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 Type Options are average priced and will be automatically exercised into the Argus 

WTI Midland vs WTI 1st Line Future on the expiry day if they are “in the 

money". The Futures Contract resulting from exercise immediately goes to 

cash settlement. 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 14:30 EPT (19:30 London Time)

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. Clearing 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 of the Argus WTI Midland vs WTI 1st Line 

Future for the contract month. 

Strike Prices This contract will support custom Option strikes with strikes in increments of 

$0.01 within a range of -$10 to $25. This range may be revised from time to 

time according to future price movements. The at-the-money strike price is 

the closest interval nearest to the previous business day's Settlement Price of 

the underlying contract.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website

19.F.08 CRUDE DIFF - ARGUS MARS VS WTI 1ST LINE AVERAGE PRICE OPTION

Product Name Crude Diff - Argus Mars vs WTI 1st Line Average Price Option

Contract Description The Argus Mars vs WTI 1st Line Average Price Option is based on the 

underlying Argus Mars vs WTI 1st Line Future and will automatically 

exercise into the Argus Mars vs WTI 1st Line Future on the day of expiry of 

the options contract.

Contract Symbol ARO

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 Type Options are average priced and will be automatically exercised into the Argus 

Mars vs WTI 1st Line Future on the expiry day if they are “in the money". 

The Futures Contract resulting from exercise immediately goes to cash 

settlement. 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 14:30 EPT (19:30 London Time)

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. Clearing 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 of the Argus Mars vs WTI 1st Line Future 

for the contract month. 

Strike Prices This contract will support Custom Option Strikes with strikes in increments 

of $0.01 within a range of -$10 to $25. This range may be revised from time 

to time according to future price movements. The at-the-money strike price is 

the closest interval nearest to the previous business day's Settlement Price of 

the underlying contract.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website

19.F.09 CRUDE DIFF - ARGUS MARS VS WTI TRADE MONTH AVERAGE PRICE OPTION

Product Name Crude Diff - Argus Mars vs WTI Trade Month Average Price Option

Contract Description The Argus Mars vs WTI Trade Month Average Price Option is based on the 

underlying Argus Mars vs WTI Trade Month Future and will automatically 

exercise into the Argus Mars vs WTI Trade Month Future on the day of 

expiry of the options contract.

Contract Symbol ARW

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 Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract month. 

If the 25th calendar day is a weekend or holiday, trading shall cease on the 

first Business Day prior to the 25th calendar day.

Option Type Options are average priced and will be automatically exercised into the 

Argus Mars vs WTI Trade Month Future on the expiry day if they are “in 

the money". The Futures Contract resulting from exercise immediately goes 

to cash settlement. 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 14:30 EPT (19:30 London Time)

Automatic exercise settings are pre-set to exercise Options which are one 

minimum price fluctuation or more “in the money” with reference to the 

relevant reference price. Clearing 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 of the Argus Mars vs WTI Trade Month 

Future for the contract month.

Strike Prices This contract supports custom Option strikes with strikes in increments of 

$0.01 within a range of -$10 to $25. This range may be revised from time to 

time according to future price movements. The at-the-money strike price is 

the closest interval nearest to the previous Business Day's Settlement Price 

of the Underlying Futures Contract.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day
business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.10 CRUDE DIFF - ARGUS WTI HOUSTON VS WTI 1ST LINE AVERAGE PRICE OPTION

Product Name Crude Diff - Argus WTI Houston vs WTI 1st Line Average Price Option

Contract Description The Argus WTI Houston vs WTI 1st Line Average Price Option is based on 

the underlying Argus WTI Houston vs WTI 1st Line Future and will 

automatically exercise into the Argus WTI Houston vs WTI 1st Line Future 

on the day of expiry of the options contract.

Contract Symbol AIL

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 Type Options are average priced and will be automatically exercised into the Argus 

WTI Houston vs WTI 1st Line Future on the expiry day if they are “in the 

money". The Futures Contract resulting from exercise immediately goes to 

cash settlement. 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 14:30 EPT (19:30 London Time)

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. Clearing 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 of the Argus WTI Houston vs WTI 1st Line 

Future for the contract month. 

Strike Prices This contract will support custom Option strikes with strikes in increments of 

$0.01 within a range of -$10 to $25. This range may be revised from time to 

time according to future price movements. The at-the-money strike price is 

the closest interval nearest to the previous business day's Settlement Price of 

the underlying contract.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website

19.F.11 CRUDE DIFF - ARGUS WTS VS WTI 1ST LINE AVERAGE PRICE OPTION

Contract Description The Argus WTS vs WTI 1st Line Average Price Option is based on the 

underlying Argus WTS vs WTI 1st Line Future and will automatically 

exercise into the Argus WTS vs WTI 1st Line Future on the day of expiry of 

the options contract.

Contract Symbol AFH

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 Type Options are average priced and will be automatically exercised into the Argus 

WTS vs WTI 1st Line Future on the expiry day if they are "in the money". 

The Futures Contract resulting from exercise immediately goes to cash 

settlement. 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 14:30 EPT (19:30 London Time)

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. Clearing 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 of the Argus WTS vs WTI 1st Line Future 

for the contract month. 

Strike Prices This contract will support Custom Option Strikes with strikes in increments 

of $0.01 within a range of -$10 to $25. This range may be revised from time 

to time according to future price movements. The at-the-money strike price is 

the closest interval nearest to the previous business day's Settlement Price of 

the underlying contract.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Argus Crude

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.12 CRUDE DIFF - TMX WCS 1A INDEX AVERAGE PRICE OPTION

Contract Description The TMX WCS 1a Index Average Price Option is based on the underlying 

TMX WCS 1a Index Future and will automatically exercise into the TMX 

WCS 1a Future on the day of expiry of the options contract.

Contract Symbol TMW

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.

Option Type Options are average priced and will be automatically exercised into the TMX 

WCS 1a Future on the expiry day if they are "in the money". The Futures 

Contract resulting from exercise immediately goes to cash settlement. 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 14:30 EPT (19:30 London Time).

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. Clearing 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 based on the 

TMX WCS 1a Index, as published by NGX for the contract month

Strike Prices A minimum of 20 Strike Prices in increments of $0.01 per bbl 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 $0.01 increments.

Contract Series Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NGX Crude Oil Markets

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website

19.F.13 CRUDE DIFF – WTI 12-MONTH CALENDAR SPREAD OPTION

Product Name Crude Diff – WTI 12-Month Calendar Spread Option

Description The WTI Crude Oil 12-Month Calendar Spread Option is based on 

the difference between two ICE Futures Europe WTI Crude Futures 

Contract months expiring twelve calendar months apart, and will 

automatically exercise into the ICE WTI 12-Month Calendar Spread 

Future on the day of expiry of the options contract.

Contract Symbol TIZ

Contract Size per lot 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 Trading shall cease at the end of the designated settlement period on 

the Last Trading Day of the nearby month ICE Futures Europe WTI 

Crude Futures Contract.

Option Type Options are European style and will be automatically exercised on 

the expiry day if they are “in the money”. The Futures Contract 

resulting from exercise immediately goes to cash settlement. 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. No manual exercise is permitted.

Expiry 14:30 EPT (19:30 London Time). 

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. Clearing 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 difference between the settlement price of the nearby 

ICE Futures Europe WTI Crude Futures Contract and the settlement 

price of the contract month expiring 12 calendar months later in the 
ICE Futures Europe WTI Crude Futures Contract series on the Last 

Trading Day. 

Strike Price Intervals A minimum of 10 Strike Prices in increments of $0.05 per bbl 

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 $0.01 increments.

Contract Series Up to two 12-month calendar spreads, or as otherwise determined 

by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for NYMEX

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.14 DAILY EU-STYLE WTI OPTION

Product Name Daily EU-Style WTI Option

Description The Daily EU-Style WTI Option contract is based on the underlying 

ICE WTI Crude Futures Contract and will automatically exercise into 

the Daily EU-Style WTI Future on the day of expiry of the options 

contract. The Daily Options are short-life, EU-style options that will 

immediately settle into the cash value of the Underlying Futures 

Contract’s daily Settlement Price.

Contract Symbol TDE

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 cent ($0.01) per barrel

Minimum Price Fluctuation One cent ($0.01) per barrel

Last Trading Day Trading shall cease at the end of the designated settlement period of 

the ICE WTI Crude Futures Contract on the business day that it was 

listed on. 

Option Type Options are European-style and will be automatically exercised on the 

expiry day if they are “in-the-money”. The Futures Contract resulting from 

exercise immediately goes to cash settlement. If an option is “out-of-themoney” it will expire automatically. 

Expiry Automatic exercise settings are pre-set to exercise contracts which are 

one minimum price fluctuation or more in-the-money with reference to 

the corresponding daily Settlement Price at the designated settlement 

time as determined by the Exchange. Clearing Members cannot 

override automatic exercise settings or manually enter exercise 

instructions for this contract.

Strike Prices A minimum of 10 Strike Prices in increments of $0.50 per bbl 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 $0.01 increments.

Contract Series Daily contract listed for 1 day, or as otherwise determined by the 

Exchange.

Final Payment Dates One Clearing House Business Day following the Last Trading Day

business days Publication days for NYMEX

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.15 CRUDE OUTRIGHT – WTI AVERAGE PRICE BALMO OPTION 

Product Name Crude Outright – WTI Average Price Balmo Option

Description The WTI Average Price Balmo Option is based on the underlying WTI 

1st Line Balmo Future and will automatically exercise into the 1st Line 

Balmo Future on the day of expiry of the options contract.

Contract Symbol WBT

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 Type Options are Asian-style and will be automatically exercised on the 

expiry day if they are in-the-money. The Futures Contract 

resulting from exercise immediately goes to cash settlement . 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 14:30 EPT (19:30 London Time).

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. Clearing 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 as made public by ICE for the WTI 

1

st Line Future for the contract month. 

Strike Prices A minimum of 20 Strike Prices in increments of $0.50 per bbl 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 $0.50 increments.
Contract Series Up to 2 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.16 CRUDE OUTRIGHT – EU-STYLE WTI OPTION 

Product Name Crude Outright – EU-Style WTI Option

Description The EU-Style WTI Option is based on the underlying EU-Style 

WTI Futures Contract and will automatically exercise into 

the EU-Style WTI Futures Contract on the day of expiry of 

the options contract.

Contract Symbol WUL

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 Trading shall end two NYMEX Business Days prior to the 

expiration date of the ICE Futures Europe WTI Crude Futures 

Contract. (A NYMEX Business Day is a day on which NYMEX 

is open for business.)

Option Type Options are European-style and will be automatically exercised 

on the expiry day if they are “in-the-money”. The Futures 

Contract resulting from exercise immediately goes to cash 

settlement . 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 14:30 EPT (19:30 London time)

Automatic exercise settings are pre-set to exercise contracts 

which are one minimum price fluctuation or more in-themoney with reference to the relevant reference price. Clearing 

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 Settlement Price of the ICE EU-Style WTI Future, 

which is based on the Settlement Price of the ICE WTI Bullet 

Future for the contract month on the 3rd business day prior to 
the last trading day of the ICE Futures Europe WTI Futures 

Contract for the contract month. 

Strike Prices 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 36 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading 

Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.18 GASOLINE OUTRIGHT – RBOB GASOLINE AVERAGE PRICE OPTION

Product Name Gasoline Outright – RBOB Gasoline Average Price Option

Description The RBOB Gasoline Average Price Option is based on the 

underlying RBOB Gasoline 1st Line Futures Contract and will 

automatically exercise into the RBOB Gasoline 1st Line Futures 

Contract on the day of expiry of the options contract.

Contract Symbol RBS

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last Trading Day of the contract month

Option Type Options are Asian-style and will be automatically exercised on the 

expiry day if they are "in the money". The Futures Contract 

resulting from exercise immediately goes to cash settlement. 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 14:30 EPT (19:30 London Time). 

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 gallon 

based on the average of the Settlement Prices as made public by 

ICE for the RBOB Gasoline 1st Line Futures Contract for the 

contract month. 

Strike Price Intervals A minimum of 10 strikes above and below at the money in $0.01 

increments will be listed at launch. This contract will support 

Custom Option Strikes with strikes in increments of $0.001 within a 
range of $0.500 to $10.000. This range may be revised from time 

to time according to future price movements. The at-the-money 

strike price is the closest interval nearest to the previous business 

day's settlement price of the underlying contract.

Contract Series Up to 48 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading 

Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.19 HEATING OIL OUTRIGHT – HEATING OIL AVERAGE PRICE OPTION

Product Name Heating Oil Outright – Heating Oil Average Price Option

Description The Heating Oil Average Price Option is based on the underlying 

Heating Oil 1st Line Futures Contract and will automatically 

exercise into the Heating Oil 1st Line Futures Contract on the day 

of expiry of the options contract.

Contract Symbol HOF

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last Trading Day of the contract month

Option Type Options are Asian-style and will be automatically exercised on the 

expiry day if they are "in the money". The Futures Contract 

resulting from exercise immediately goes to cash settlement. 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 14:30 EPT (19:30 London Time). 

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. Clearing 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 gallon 

based on the average of the Settlement Prices as made public by 

ICE for the Heating Oil 1st Line Futures Contract for the contract 

month. 

Strike Price Intervals A minimum of 10 strikes above and below at the money in $0.01 

increments will be listed at launch. This contract will support 

Custom Option Strikes with strikes in increments of $0.001 within a 
range of $0.500 to $10.000. These ranges may be revised from 

time to time according to future price movements. The at-themoney strike price is the closest interval nearest to the previous 

business day's settlement price of the underlying contract.

Contract Series Up to 48 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading 

Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.20 HEATING OIL DIFF – EU-STYLE HEATING OIL VS LOW SULPHUR GASOIL OPTION

Product Name Heating Oil Diff – EU-Style Heating Oil vs Low Sulphur Gasoil 

Option

Description The EU-Style Heating Oil vs Low Sulphur Gasoil Option is based on 

the difference between the ICE daily Settlement Price for the Heating 

Oil Futures Contract and the ICE daily settlement price for the ICE 

Low Sulphur Gasoil Bullet Futures Contract, and will automatically 

exercise into the EU-Style Heating Oil vs Low Sulphur Gasoil 

Futures Contract on the day of expiry of the options contract. 

Contract Size EHL

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One cent ($0.01) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Trading shall end one business day prior to the expiration date of the 

ICE Heating Oil Futures contract

Option Type Options are European-style and will be automatically exercised on 

the expiry day if they are “in-the-money”. The Futures Contract 

resulting from exercise immediately goes to cash settlement. 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 14:30 EPT (19:30 London Time)

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. Clearing 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 gallon equal 

to the difference between the settlement prices as made public by 

ICE for the ICE Futures Europe Heating Oil Futures Contract and the 

ICE Futures Europe Low Sulphur Gasoil Bullet Futures Contract on 

the Last Trading Day. 
conversion factor: 1 metric tonne = 312.9 gallons

Strike Price Intervals A minimum of 10 strikes above and below at the money in $0.01 

increments will be listed at launch. This contract will support Custom 

Option Strikes with strikes in increments of $0.001 within a range of 

-$1.00 to $1.00. These ranges may be revised from time to time 

according to future price movements. The at-the-money strike price 

is the closest interval nearest to the previous business day's 

settlement price of the underlying contract.

Contract Series Up to 48 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.21 FUEL OIL OUTRIGHT - USGC HSFO (PLATTS) AVERAGE PRICE OPTION

Product Name Fuel Oil Outright - USGC HSFO (Platts) Average Price Option

Description The USGC HSFO (Platts) Average Price Option is based on the 

underlying USGC HSFO (Platts) Futures Contract and will automatically 

exercise into the USGC HSFO (Platts) Futures Contract on the day of 

expiry of the options contract.

Contract Symbol RBO

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 Type Options are average priced and will be automatically exercised into the 

USGC HSFO (Platts) Future on the expiry day if they are “in the 

money”. The Futures Contract resulting from exercise immediately goes 

to cash settlement . 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 14:30 EPT (19:30 London Time).

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. Clearing 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 of the USGC HSFO (Platts) Futures 

Contract for the contract month. 

Strike Price Intervals A minimum of 10 Strike Prices in increments of $0.01 per bbl 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 $0.01 increments.

Contract Series Up to 60 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan
Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.22 JET FUEL OUTRIGHT – GULF COAST JET FUEL (PLATTS) AVERAGE PRICE OPTION

Product Name Jet Fuel Outright – Gulf Coast Jet Fuel (Platts) Average Price 

Option

Description The Gulf Coast Jet Fuel (Platts) Average Price Option is based on the 

underlying Gulf Coast Jet Fuel Futures Contract and will 

automatically exercise into the Gulf Coast Jet Fuel Futures Contract 

on the day of expiry of the options contract

Contract Symbol JCF

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Last Trading Day of the contract month

Option Type Options are average priced and will be automatically exercised on 

the expiry day if they are "in the money". The Futures Contract 

resulting from exercise immediately goes to cash settlement. 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 14:30 EPT (19:30 London Time). 

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. Clearing 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 gallon equal 

to the final Settlement Price of the Platts Gulf Coast Jet Fuel Futures 

Contract for the contract month. 
Strike Price Intervals A minimum of 10 strikes above and below at the money in $0.01 

increments will be listed at launch. This contract will support 

Custom Option Strikes with strikes in increments of $0.001 within a 

range of $0.500 to $10.000. This range may be revised from time to 

time according to future price movements. The at-the-money strike 

price is the closest interval nearest to the previous business day's 

settlement price of the underlying contract

Contract Series Up to 48 consecutive months, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for Platts US Marketscan

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.23 CRUDE DIFF – DAILY WTI 1-MONTH CALENDAR SPREAD OPTION

Product Name Crude Diff – Daily WTI 1-Month Calendar Spread Option

Description The Daily WTI Crude Oil 1-Month Calendar Spread Option is based on the 

difference between two consecutive WTI Crude Futures months, and will 

automatically exercise into the Daily WTI 1-Month Calendar Spread Futures 

Contract on the day of expiry of the options contract. 

Contract Symbol DWO

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 The contract expires at 14:30 EPT of the business day equal to the contract 

period.

Option Type Options are European style and will be automatically exercised on the expiry 

day if they are “in the money”. The Futures Contract resulting from exercise 

immediately goes to cash settlement. 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. No manual exercise is permitted

Expiry 14:30 EPT (19:30 London Time).

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. Clearing 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 

difference between the settlement price of the nearby ICE Futures Europe 

WTI Crude Futures Contract and the settlement price of the next consecutive 

contract month of the ICE Futures Europe WTI Crude Futures Contract 

series on the Last Trading Day. For these purposes “settlement price” means 

the official settlement value of the ICE Futures Europe WTI Crude Futures 

contract month for the active day of the option. ICE Futures Europe WTI 

Crude Futures are penultimate dated to the corresponding NYMEX Light 

Sweet Crude Contract. 
Strike Price Intervals A minimum of 10 Strike Prices in increments of $0.05 per bbl 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 $0.01 increments.

Contract Series Up to 6 consecutive business days, or as otherwise determined by the 

Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
 19.F.24 DIESEL DIFF – NEW YORK HARBOR ULSD 1-MONTH CALENDAR SPREAD OPTION

Product Name Diesel Diff – New York Harbor ULSD 1-Month Calendar Spread 

Option

Description The New York Harbor ULSD 1-Month Calendar Spread Option is based on 

the difference between two consecutive New York Harbor ULSD Futures 

Contract months, and will automatically exercise into the New York Harbor 

ULSD 1-month Calendar Spread Futures Contract. on the day of expiry of 

the options contract. 

Contract Symbol HOC

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels.

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price 

Fluctuation

One hundredth of one cent ($0.0001) per gallon

Last Trading Day Trading shall end at the end of the designated settlement period on the 

expiration date of the nearby month of the ICE Futures Europe New York 

Harbor Heating Oil Futures Contract.

Option Type Options are European style and will be automatically exercised on the expiry 

day if they are “in the money”. The Futures Contract resulting from exercise 

immediately goes to cash settlement. 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. No manual exercise is permitted.

Expiry 14:30 EPT (19:30 London Time).

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. Clearing 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 gallon equal to the 

difference between the settlement price of the nearby ICE Futures Europe 

New York Harbor Heating Oil Futures Contract and the Settlement Price of 

the next consecutive contract month of the ICE Futures Europe New York 

Harbor Heating Oil Futures Contract series on the Last Trading Day. 
Strike Price Intervals A minimum of 10 Strike Prices in increments of $0.01 per gal 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.

Contract Series Up to 36 consecutive 1-month calendar spreads, or as otherwise determined 

by the Exchange.

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website
19.F.25 GASOLINE DIFF - RBOB GASOLINE 1-MONTH CALENDAR SPREAD OPTION

Product Name Gasoline Diff - RBOB Gasoline 1-Month Calendar Spread Option

Description The RBOB Gasoline 1-Month Calendar Spread Option is based on the 

difference between two consecutive RBOB Gasoline Futures months and 

automatically exercises into the ICE RBOB Gasoline 1-Month Calendar 

Spread Future on the day of expiry of the options contract.

Contract Symbol RCM

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons).

Currency US Dollars and cents

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon

Last Trading Day Trading shall end at the end of the designated settlement period on the 

expiration date of the nearby month ICE Futures Europe RBOB Gasoline 

Futures Contract. 

Option Type Options are European style and will be automatically exercised on the expiry 

day if they are “in the money”. The Futures Contract resulting from exercise 

immediately goes to cash settlement. 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. No manual exercise is permitted.

Expiry 14:30 EPT (19:30 London Time).

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. Clearing 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 gallon equal to the 

difference between the settlement price of the nearby ICE Futures Europe 

RBOB Gasoline Futures Contract and the settlement price of the next 

consecutive contract month of the ICE Futures Europe RBOB Gasoline 

Futures Contract series on the Last Trading Day. 

Strike Price Intervals A minimum of 10 Strike Prices in increments of $0.01 per gal 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 $0.01 increments.

Contract Series Up to 48 consecutive 1-month calendar spreads, or as otherwise determined 

by the Exchange.
Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website

19.F.26 CRUDE DIFF - ARGUS WTI MIDLAND VS WTI TRADE MONTH AVERAGE PRICE OPTION

Description: The Argus WTI Midland vs WTI Trade Month Average Price Option is based on the underlying Argus 

WTI Midland vs WTI Trade Month Future (MSV) and will automatically exercise into the Argus WTI Midland vs 

WTI Trade Month Future (MSV) on the day of expiry of the options contract.

Contract Symbol: MSV

Hedge Instrument: The delta hedge for the Argus WTI Midland vs WTI Trade Month Average Price Option is the 

Argus WTI Midland vs WTI Trade Month Future (MSV).

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: Trading shall cease at the close of trading on the last business day that falls on or before the 

25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, trading 

shall cease on the first business day prior to the 25th calendar day.

Option Type: Options are average priced and will be automatically exercised into the Argus WTI Midland vs WTI 

Trade Month Future on the expiry day if they are “in the money". The 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.

Option Premium/Daily Margin: The Argus WTI Midland vs WTI Trade Month Average Price Option is a 

premium-paid-upfront option. The traded premium will therefore be debited by the Clearing House from the Buyer 

and credited to the Seller on the morning of the Business Day following the day of trade. Members who are long 

premium-paid-upfront options will receive a Net Liquidating Value (NLV) credit to the value of the premium which 

is then used to offset the initial margin requirement flowing from both these options and positions in other energy 

contracts. Members who are short premium-paid-upfront options will receive an NLV debit in addition to their 

initial margin requirement. NLV is calculated daily with reference to the settlement price of the option.

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 of the 

Argus WTI Midland vs WTI Trade Month Future for the contract month. When exercised against, the Clearing 

House, at its discretion, selects sellers against which to exercise on a pro rata basis.

Strike Prices: This contract will support Custom Option Strikes with strikes in increments of $0.01 within a range 

of -$20 to $15. This range may be revised from time to time according to future price movements. The at-the-money 

strike price is the closest interval nearest to the previous business day's settlement price of the underlying contract.

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Argus Crude

MIC Code: IFED

Clearing Venue: ICEU
19.F.27 CRUDE DIFF - ARGUS WCS (CUSHING) CRUDE OIL TRADE MONTH AVERAGE PRICE 

OPTION

Description: The Argus WCS (Cushing) Trade Month Average Price Option is based on the underlying Argus WCS 

(Cushing) Trade Month Future (CSH) and will automatically exercise into the Argus WCS (Cushing) Trade Month 

Future (CSH) on the day of expiry of the options contract.

Contract Symbol: CSH

Hedge Instrument: The delta hedge for the Argus WCS (Cushing) Trade Month Average Price Option is the Argus 

WCS (Cushing) Trade Month Future (CSH)

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: Trading shall cease at the close of trading on the last business day that falls on or before the 

25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, trading 

shall cease on the first business day prior to the 25th calendar day.

Option Type: Options are average priced and will be automatically exercised into the Argus WCS (Cushing) Trade 

Month Future on the expiry day if they are “in the money". The 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.

Option Premium/Daily Margin: The Argus WCS (Cushing) Trade Month Average Price Option is a premiumpaid-upfront option. The traded premium will therefore be debited by the Clearing House from the Buyer and 

credited to the Seller on the morning of the Business Day following the day of trade. Members who are long 

premium-paid-upfront options will receive a Net Liquidating Value (NLV) credit to the value of the premium which 

is then used to offset the initial margin requirement flowing from both these options and positions in other energy 

contracts. Members who are short premium-paid-upfront options will receive an NLV debit in addition to their 

initial margin requirement. NLV is calculated daily with reference to the settlement price of the option.

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 of the 

Argus WCS (Cushing) Trade Month Future for the contract month. When exercised against, the Clearing House, at 

its discretion, selects sellers against which to exercise on a pro rata basis.

Strike Prices: This contract will support Custom Option Strikes with strikes in increments of $0.01 within a range 

of -$20 to $15. This range may be revised from time to time according to future price movements. The at-the-money 

strike price is the closest interval nearest to the previous business day's settlement price of the underlying contract.
Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Argus Crude

MIC Code: IFED

Clearing Venue: ICEU
19.F.28 CRUDE DIFF - ARGUS WTI HOUSTON VS WTI TRADE MONTH AVERAGE PRICE OPTION

Description: The Argus WTI Houston vs WTI Trade Month Average Price Option is based on the underlying Argus 

WTI Houston vs WTI Trade Month Future (ACM) and will automatically exercise into the Argus WTI Houston vs 

WTI Trade Month Future (ACM) on the day of expiry of the options contract.

Contract Symbol: ACM

Hedge Instrument: The delta hedge for the Argus WTI Houston vs WTI Trade Month Average Price Option is the 

Argus WTI Houston vs WTI Trade Month Future (ACM).

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: Trading shall cease at the close of trading on the last business day that falls on or before the 

25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, trading 

shall cease on the first business day prior to the 25th calendar day. 

Option Type: Options are average priced and will be automatically exercised into the Argus WTI Houston vs WTI 

Trade Month Future on the expiry day if they are “in the money". The 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.

Option Premium/Daily Margin: The Argus WTI Houston vs WTI Trade Month Average Price Option is a 

premium-paid-upfront option. The traded premium will therefore be debited by the Clearing House from the Buyer 

and credited to the Seller on the morning of the Business Day following the day of trade. Members who are long 

premium-paid-upfront options will receive a Net Liquidating Value (NLV) credit to the value of the premium which 

is then used to offset the initial margin requirement flowing from both these options and positions in other energy 

contracts. Members who are short premium-paid-upfront options will receive an NLV debit in addition to their 

initial margin requirement. NLV is calculated daily with reference to the settlement price of the option.

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 of the 

Argus WTI Houston vs WTI Trade Month Future for the contract month. When exercised against, the Clearing 

House, at its discretion, selects sellers against which to exercise on a pro rata basis.

Strike Prices: This contract will support Custom Option Strikes with strikes in increments of $0.01 within a range 

of -$20 to $15. This range may be revised from time to time according to future price movements. The at-the-money 

strike price is the closest interval nearest to the previous business day's settlement price of the underlying contract.
Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Argus Crude

MIC Code: IFED

Clearing Venue: ICEU
19.F.29 CRUDE DIFF - ARGUS WTS VS WTI TRADE MONTH AVERAGE PRICE OPTION

Description: The Argus WTS vs WTI Trade Month Average Price Option is based on the underlying Argus WTS 

vs WTI Trade Month Future (AVT) and will automatically exercise into the Argus WTS vs WTI Trade Month 

Future (AVT) on the day of expiry of the options contract.

Contract Symbol: AVT

Hedge Instrument: The delta hedge for the Argus WTS vs WTI Trade Month Average Price Option is the Argus 

WTS vs WTI Trade Month Future (AVT).

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: Trading shall cease at the close of trading on the last business day that falls on or before the 

25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, trading 

shall cease on the first business day prior to the 25th calendar day.

Option Type: Options are average priced and will be automatically exercised into the Argus WTS vs WTI Trade 

Month Future on the expiry day if they are "in the money". The 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.

Option Premium/Daily Margin: The Argus WTS vs WTI Trade Month Average Price Option is a premium-paidupfront option. The traded premium will therefore be debited by the Clearing House from the Buyer and credited to 

the Seller on the morning of the Business Day following the day of trade. Members who are long premium-paidupfront options will receive a Net Liquidating Value (NLV) credit to the value of the premium which is then used to 

offset the initial margin requirement flowing from both these options and positions in other energy contracts. 

Members who are short premium-paid-upfront options will receive an NLV debit in addition to their initial margin 

requirement. NLV is calculated daily with reference to the settlement price of the option.

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 of the 

Argus WTS vs WTI Trade Month Future for the contract month. When exercised against, the Clearing House, at its 

discretion, selects sellers against which to exercise on a pro rata basis.

Strike Prices: This contract will support Custom Option Strikes with strikes in increments of $0.01 within a range 

of -$20 to $15. This range may be revised from time to time according to future price movements. The at-the-money 

strike price is the closest interval nearest to the previous business day's settlement price of the underlying contract.
Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Argus Crude

MIC Code: IFED

Clearing Venue: ICEU
19.F.30 ICE C5 1A INDEX AVERAGE PRICE OPTION

Description: The ICE C5 1a Index Average Price Option is based on the underlying ICE C5 1a Index Future and 

will automatically exercise into the ICE C5 1a Index Future on the day of expiry of the options contract.

Contract Symbol: TMF

Hedge Instrument: The delta hedge for the ICE C5 1a Index Average Price Option is the ICE C5 1a Index Future 

(TMF)

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.

Option Type: Options are average priced and will be automatically exercised into the ICE C5 1a Index Future on 

the expiry day if they are “in the money". The Futures Contract resulting from exercise immediately goes to cash 

settlement. 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.

Option Premium/Daily Margin: The ICE C5 1a Index Average Price Option is a premium-paid-upfront option. 

The traded premium will therefore be debited by the Clearing House from the Buyer and credited to the Seller on the 

morning of the Business Day following the day of trade. Members who are long premium-paid-upfront options will 

receive a Net Liquidating Value (NLV) credit to the value of the premium which is then used to offset the initial 

margin requirement flowing from both these options and positions in other energy contracts. Members who are short 

premium-paid-upfront options will receive an NLV debit in addition to their initial margin requirement. NLV is 

calculated daily with reference to the settlement price of the option.

Expiry: 14:30 EPT (19:30 London Time). 

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. Clearing 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 based on the ICE C5 1a Index, for contract months 

up to and including March 2019, and based on the ICE C5 FSK 1a Index for contract months after and including 

April 2019, as published by ICE-NGX for the contract month.

Strike Prices: A minimum of 20 Strike Prices in increments of $0.01 per bbl 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 $0.01 increments.
Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for ICE-NGX Crude Oil Markets
19.F.31 ICE SYN 1A INDEX AVERAGE PRICE OPTION

Description: The ICE SYN 1a Index Average Price Option is based on the underlying ICE SYN 1a Index Future 

and will automatically exercise into the ICE SYN 1a Index Future on the day of expiry of the options contract.

Contract Symbol: TMS

Hedge Instrument: The delta hedge for the ICE SYN 1a Index Average Price Option is the ICE SYN 1a Index 

Future (TMS)

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.

Option Type: Options are average priced and will be automatically exercised into the ICE SYN 1a Index Future on 

the expiry day if they are “in the money". The Futures Contract resulting from exercise immediately goes to cash 

settlement. 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.

Option Premium/Daily Margin: The ICE SYN 1a Index Average Price Option is a premium-paid-upfront option. 

The traded premium will therefore be debited by the Clearing House from the Buyer and credited to the Seller on the 

morning of the Business Day following the day of trade. Members who are long premium-paid-upfront options will 

receive a Net Liquidating Value (NLV) credit to the value of the premium which is then used to offset the initial 

margin requirement flowing from both these options and positions in other energy contracts. Members who are short 

premium-paid-upfront options will receive an NLV debit in addition to their initial margin requirement. NLV is 

calculated daily with reference to the settlement price of the option.

Expiry: 14:30 EPT (19:30 London Time).

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. Clearing 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 based on the ICE SYN 1a Index, as published by 

ICE-NGX for the contract month.

Strike Prices: A minimum of 20 Strike Prices in increments of $0.01 per bbl 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 $0.01 increments.
Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for ICE-NGX Crude Oil Markets
19.F.32 ICE SW 1A INDEX AVERAGE PRICE OPTION

Description: The ICE SW 1a Index Average Price Option is based on the underlying ICE SW 1a Index Future and 

will automatically exercise into the ICE SW 1a Index Future on the day of expiry of the options contract.

Contract Symbol: TMR

Hedge Instrument: The delta hedge for the ICE SW 1a Index Average Price Option is the ICE SW 1a Index Future 

(TMR)

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.

Option Type: Options are average priced and will be automatically exercised into the ICE SW 1a Index Future on 

the expiry day if they are “in the money". The Futures Contract resulting from exercise immediately goes to cash 

settlement. 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.

Option Premium/Daily Margin: The ICE SW 1a Index Average Price Option is a premium-paid-upfront option. 

The traded premium will therefore be debited by the Clearing House from the Buyer and credited to the Seller on the 

morning of the Business Day following the day of trade. Members who are long premium-paid-upfront options will 

receive a Net Liquidating Value (NLV) credit to the value of the premium which is then used to offset the initial 

margin requirement flowing from both these options and positions in other energy contracts. Members who are short 

premium-paid-upfront options will receive an NLV debit in addition to their initial margin requirement. NLV is 

calculated daily with reference to the settlement price of the option.

Expiry: 14:30 EPT (19:30 London Time). 

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. Clearing 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 based on the ICE SW 1a Index, as published by ICENGX for the contract month.

Strike Prices: A minimum of 20 Strike Prices in increments of $0.01 per bbl 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 $0.01 increments.
Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for ICE-NGX Crude Oil Markets
19.F.33 ICE UHC 1A INDEX AVERAGE PRICE OPTION

Description: The ICE UHC 1a Index Average Price Option is based on the underlying ICE UHC 1a Index Future 

and will automatically exercise into the ICE UHC 1a Index Future on the day of expiry of the options contract.

Contract Symbol: TMU

Hedge Instrument: The delta hedge for the ICE UHC 1a Index Average Price Option is the ICE UHC 1a Index 

Future (TMU)

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.

Option Type: Options are average priced and will be automatically exercised into the ICE UHC 1a Index Future on 

the expiry day if they are “in the money". The Futures Contract resulting from exercise immediately goes to cash

settlement. 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.

Option Premium/Daily Margin: The ICE UHC 1a Index Average Price Option is a premium-paid-upfront option. 

The traded premium will therefore be debited by the Clearing House from the Buyer and credited to the Seller on the 

morning of the Business Day following the day of trade. Members who are long premium-paid-upfront options will 

receive a Net Liquidating Value (NLV) credit to the value of the premium which is then used to offset the initial 

margin requirement flowing from both these options and positions in other energy contracts. Members who are short 

premium-paid-upfront options will receive an NLV debit in addition to their initial margin requirement. NLV is 

calculated daily with reference to the settlement price of the option.

Expiry: 14:30 EPT (19:30 London Time). 

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. Clearing 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 based on the ICE UHC 1a Index, as published by 

ICE-NGX for the contract month.

Strike Prices: A minimum of 20 Strike Prices in increments of $0.01 per bbl 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 $0.01 increments.
Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

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
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, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: US business days.

MIC Code: IFED

Clearing Venue: ICEU
19.F.35 CRUDE OUTRIGHT - ARGUS WTI HOUSTON AVERAGE PRICE OPTION

Description: The Argus WTI Houston Average Price Option is based on the underlying Argus WTI Houston Future 

and will automatically exercise into the Argus WTI Houston Future on the day of expiry of the options contract. 

Contract Symbol: AFW

Hedge Instrument: The delta hedge for the Argus WTI Houston Average Price Option is the Argus WTI Houston 

Future. 

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 average priced and will be automatically exercised into the Argus WTI Houston Future 

on the expiry day if they are “in the money". The 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 of the Argus WTI Houston 1st line Future for the contract month. When 

exercised against, the Clearing House, at its discretion, selects sellers against which to exercise on a pro rata basis

Strike Price: 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 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

business days: Publication days for Argus Crude

MIC Code: IFED

Clearing Venue: ICEU
19.F.36 Fuel Oil Outright - Marine Fuel 0.5% FOB USGC Barges (Platts) Average Price Option (in MTs)

Description: The Marine Fuel 0.5% FOB USGC Barges (Platts) Average Price Option is based on the underlying 

Marine Fuel 0.5% FOB USGC Barges (Platts) Future (in MT) and will automatically exercise into the settlement 

price of the Future on the day of expiry of the options contract.

Contract Symbol: MF9

Hedge Instrument: The delta hedge for the Marine Fuel 0.5% FOB USGC Barges (Platts) Average Price Option is 

the Marine Fuel 0.5% FOB USGC Barges (Platts) Future 

Contract Size: 1,000 metric tonnes

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

Currency: US Dollars and cents

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

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

Option Type: Options are average priced and will be automatically exercised into the Marine Fuel 0.5% FOB 

USGC Barges (Platts) Future on the expiry day if they are "in the money". The 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 metric tonnes based on the average of the settlement prices 

of the Marine Fuel 0.5% FOB USGC Barges (Platts) Future for the contract month. When exercised against, the 

Clearing House, at its discretion, selects sellers against which to exercise on a pro-rata basis.

Strike Price Intervals: A minimum of 10 Strike Prices in increments of $0.01 per bbl above and below the at-themoney Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike 

Prices are allowed in $0.01 increments.

Contract Series: Up to 60 consecutive months, or as otherwise determined by the Exchange.

Final Payment Dates: Two Clearing House Business Days following the Last Trading Day

Business Days: Publication days for Platts US Marketscan

MIC Code: IFED

Clearing Venue: ICEU
19.G.1 ETHYLENE, OPIS PCW MONT BELVIEU ENTERPRISE FUTURE

Product Name Ethylene, OPIS PCW Mont Belvieu Enterprise Future

Contract Description A monthly cash settled future based upon the average of the daily prices 

published by OPIS PetroChem Wire for the location specified in Reference 

Price A

Contract Symbol ETH

Settlement Method Cash settlement

Contract Size 100,000 pounds

Currency US dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per pound

Listing Cycle Up to 36 consecutive monthly contract months, or as otherwise determined by 

the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Average of Reference Price A prices

REFERENCE 

PRICE A 

MONOMERS–ETHYLENE FOB MT B Enterprise (EPC)–OPIS

PETROCHEM WIRE

a) Description "MONOMERS–ETHYLENE FOB MT B Enterprise (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 MT B FOB 

EPC" 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 Price

d) Pricing calendar OPIS PetroChem Wire

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website
19.G.2 ETHYLENE, OPIS PCW MONT BELVIEU ENTERPRISE BALMO FUTURE

Product Name Ethylene, OPIS PCW Mont Belvieu Enterprise Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS PetroChem Wire for the location specified in 

Reference Price A

Contract Symbol ETG

Settlement Method Cash settlement

Contract Size 100,000 pounds

Currency US dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per pound

Listing Cycle Up to 2 consecutive monthly contract months, or as otherwise determined by 

the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Average of Reference Price A prices

REFERENCE 

PRICE A 

MONOMERS–ETHYLENE FOB MT B Enterprise (EPC)–OPIS

PETROCHEM WIRE

a) Description "MONOMERS–ETHYLENE FOB MT B Enterprise (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 MT B FOB

EPC" 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 Price

d) Pricing calendar OPIS PetroChem Wire

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website
19.G.3 POLYMER GRADE PROPYLENE (PGP), OPIS PCW MONT BELVIEU FUTURE

Product Name Polymer Grade Propylene (PGP), OPIS PCW Mont Belvieu Future

Contract Description A monthly cash settled future based upon the average of the daily prices 

published by OPIS PetroChem Wire for the location specified in Reference 

Price A

Contract Symbol PPL

Settlement Method Cash settlement

Contract Size 100,000 pounds

Currency US dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per pound

Listing Cycle Up to 36 consecutive monthly contract months, or as otherwise determined by 

the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Average of Reference Price A prices

REFERENCE 

PRICE A 

MONOMERS–PGP FOB MT B EPC–OPIS PETROCHEM WIRE

a) Description "MONOMERS–PGP FOB MT B EPC–OPIS PETROCHEM WIRE" means 

that the price for a Pricing Date will be that day's Specified Price per pound of 

polymer grade propylene, stated in US Dollars, published under the heading 

"Closing Markets – Monomers – PGP MT B 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 Price

d) Pricing calendar OPIS PetroChem Wire

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website
19.G.4 POLYMER GRADE PROPYLENE (PGP), OPIS PCW MONT BELVIEU BALMO FUTURE

Product Name Polymer Grade Propylene (PGP), OPIS PCW Mont Belvieu Balmo 

Future

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by OPIS PetroChem Wire for the location specified in 

Reference Price A

Contract Symbol PPN

Settlement Method Cash settlement

Contract Size 100,000 pounds

Currency US dollars and cents

Minimum Price 

Fluctuation

One thousandth of one cent ($0.00001) per pound

Listing Cycle Up to 2 consecutive monthly contract months, or as otherwise determined by 

the Exchange.

Last Trading Day Last trading day of the contract month

Final Settlement Average of Reference Price A prices

REFERENCE 

PRICE A 

MONOMERS–PGP FOB MT B EPC–OPIS PETROCHEM WIRE

a) Description "MONOMERS–PGP FOB MT B EPC–OPIS PETROCHEM WIRE" means 

that the price for a Pricing Date will be that day's Specified Price per pound of 

polymer grade propylene, stated in US Dollars, published under the heading 

"Closing Markets – Monomers – PGP MT B 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 Price

d) Pricing calendar OPIS PetroChem Wire

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website
19.G.5 BENZENE, IHS MARKIT US CONTRACT PRICE FUTURE

Product Name Benzene, IHS MARKIT US Contract Price Future

Contract Description A cash settled future equal to the price published by IHS MARKIT for the 

location specified in Reference Price A

Contract Symbol BUC

Settlement Method Cash settlement

Contract Size 1,000 bbl

Currency US Dollars and cents

Trading Price 

Quotation

One cent ($0.01) per gallon

Settlement Price 

Quotation

One cent ($0.01) per gallon

Minimum Price 

Fluctuation

One cent ($0.01) per gallon

Listing Cycle Up to 36 consecutive monthly contract months, or as otherwise determined by 

the Exchange.

Last Trading Day Last trading day prior to the contract month

Final Settlement Reference Price A 

REFERENCE 

PRICE A 

MONOMERS - BENZENE US CP–IHS MARKIT 

a) Description "MONOMERS - BENZENE US CP–IHS MARKIT" means that the price for 

a Pricing Date will be that day's Specified Price per gallon of benzene for 

delivery on the Delivery Date, stated in US Dollars, published by IHS 

MARKIT under the heading "Closing Markets-Monomers-US Monthly 

Benzene Contract Price” in the issue of IHS MARKIT NORTH AMERICA 

AROMATICS REPORT that reports prices effective on that Pricing Date

b) Pricing Date First business day of the contract month

c) Specified Price Price

d) Pricing calendar IHS MARKIT 

e) Delivery Date Contract month

Final Payment Date Three Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website
19.G.6. BENZENE, IHS MARKIT US INDEX FIXED PRICE FUTURE

Product Name Benzene, IHS MARKIT US Index Fixed Price Future

Contract Description A monthly cash settled future based upon the average of the daily prices 

published by IHS MARKIT for the location specified in Reference Price A

Contract Symbol BUI

Settlement Method Cash settlement

Contract Size 1,000 bbl

Currency US Dollars and cents

Trading Price 

Quotation

One cent ($0.01) per gallon

Settlement Price 

Quotation

One cent ($0.01) per gallon

Minimum Price 

Fluctuation

One cent ($0.01) per gallon

Listing Cycle Up to 36 consecutive monthly contract months, or as otherwise determined by 

the Exchange.

Last Trading Day Last trading day prior to the contract month

Final Settlement Average of Reference Price A prices

REFERENCE 

PRICE A 

MONOMERS - BENZENE US Index–IHS MARKIT 

a) Description "MONOMERS - BENZENE US Index–IHS MARKIT" means that the price 

for a Pricing Date will be that day's Specified Price per gallon of benzene for 

delivery on the Delivery Date, stated in US Dollars, published under the 

heading "Closing Markets – Monomers – Benzene DDP HTC" in the issue of 

IHS MARKIT that reports prices effective on that Pricing Date

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar IHS MARKIT

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website
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, or as otherwise determined by the Exchange.

Last Trading Day: Last Trading Day of the contract month

Final Settlement: Average of Reference 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

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