55 East 52nd Street

New York, New York 10055

BY ELECTRONIC TRANSMISSION

Submission No. 22-178

October 14, 2022

Mr. Christopher J. Kirkpatrick

Secretary of the Commission

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Weekly Notification of Rule Amendments

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

Dear Mr. Kirkpatrick:

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

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

Commission that, during the preceding week, the Exchange amended the names of three futures 

contracts to align the names of the contracts with the terms and conditions of the contracts. 

Specifically, the Exchange made the amendments detailed below to identify the contracts as 

“Biodiesel,” and not “Gasoline,” as they had previously been referenced. The amendments were 

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

products. The amendments to the terms and conditions of the products are provided as Exhibit A.

Previous Name Amended Name Commodity 

Code

Gasoline Outright - Argus RVO Current Year Future Biodiesel Outright - Argus RVO Current Year Future RVO

Gasoline Outright - D6 RINs (OPIS) Current Year Future Biodiesel Outright - D6 RINs (OPIS) Current Year Future RIN

Gasoline Outright - RVO (OPIS) Current Year Future Biodiesel Outright - RVO (OPIS) Current Year Future RVB

Additionally, consistent with Exchange Rule 4.28, the Exchange amended the Interval 

Price Limit Functionality document to make clear that IPL parameters may be changed without 

prior notice, at the sole discretion of the Exchange, based on prevailing market conditions. The 

amendments are non-substantive in nature and are intended to clarify the Exchange’s authority 
under Rule 4.28, which provides that the Exchange “may alter in its discretion, the IPL Amount, 

IPL Recalculation Time, and IPL Hold Period for each Exchange Futures Contracts.” The 

amendments are provided in Exhibit B.

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

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

and deletions are bracketed and lined through.)

SUBCHAPTER 19A – OUTRIGHT–CRUDE OIL AND REFINED PRODUCTS

19.A.30 [Gasoline]Biodiesel Outright - D6 RINs (OPIS) Current Year 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 "" for “Current Yr” each business day (as specified below) in the determination period.

Contract Series: Up to 36 consecutive months

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.57 [Gasoline]Biodiesel Outright - RVO (OPIS) Current Year Future

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

Volume Obligation (RVO)

Contract Symbol: RVB

Contract Size: 50,000 gallons

Unit of Trading: Any multiple of 50,000 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: In respect of final settlement, the Floating Price will be a price in USD and cents 

per gallon based on the average of the “Mean” quotations appearing in the "OPIS Carbon Market Report" 

report under the heading "U.S. RINs (cts/RIN)” for “RVO (cts/gal)” for 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 Carbon Market Report

MIC Code: IFED

Clearing Venue: ICEU
19.A.58 [Gasoline]Biodiesel Outright - Argus RVO Current Year Future

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

Volume Obligation (RVO)

Contract Symbol: RVO

Contract Size: 50,000 gallons

Unit of Trading: Any multiple of 50,000 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: In respect of final settlement, the Floating Price will be a price in USD and cents 

per gallon based on the average of the “Price” quotations appearing in the "Argus Americas Biofuels" 

report under the heading "RINs” for “RVO c/USG” for 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 Argus Americas Biofuels

MIC Code: IFED

Clearing Venue: ICEU

[REMAINDER OF RULEBOOK UNCHANGED]
Exhibit B

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

and deletions are bracketed and lined through.)

INTERVAL PRICE LIMIT 

FUNCTIONALITY

With IPL levels as of [June]October 2022

IPL functionality acts as a temporary circuit breaker feature on the electronic platform, to diminish the 

likelihood and extent of short-term price spikes or aberrant market moves. While it is designed to be in 

force throughout each trading day, it is expected that the protections will be actively triggered only in the 

case of extreme price moves over very short periods of time. The IPL regime uses three customizable 

parameters for each futures product:

1. IPL Recalculation Time: A pre-set length of time during which the price of a contract month may 

not move up or down more than the IPL Amount (defined below) from the contract price at the 

start of the period. This starting price is referred to as the “anchor price”. The IPL Recalculation 

Time continuously resets for the length of time applicable to the particular futures contract.

2. IPL Amount: The maximum number of points that a contract month is permitted to move up or 

down during each IPL Recalculation Time for the contract. The anchor price plus/minus the IPL 

amount effectively creates an IPL range for the contract for the IPL Recalculation Time.

3. IPL Hold Period: When the platform determines that the next trade in the contract month will be 

at a price that is outside the active IPL range, the platform triggers a Hold Period, during which 

the price of the contract is not permitted to trade outside the IPL range that was in place at the 

start of the IPL Hold Period. The length of the Hold Period is pre-set. When a Hold Period is 

triggered, the platform will issue an alert notifying users that a Hold Period has begun and 

specifying the time the Hold Period will end.

IPL parameters can be changed without prior notice, at the sole discretion of the Exchange, based [over 

time based] on prevailing market conditions.

[REMAINDER OF DOCUMENT UNCHANGED]