ICE Swap Trade LLC

55 East 52nd Street

New York, NY 10055

August 22, 2022

Submitted via the CFTC Portal

Submission 22-02

Secretary of the Commission

Office of the Secretariat

U.S. Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

Re: ICE Swap Trade, LLC – Regulation §40.6(d) Weekly Notification of Amendments Related to Product 

Terms and Conditions

Ladies and Gentlemen:

Pursuant to Section 5c(c) of the Commodity Exchange Act (the “Act”) and Section 40.6(d) of the regulations 

of the Commodity Futures Trading Commission (the “Commission”), ICE Swap Trade, LLC (“IST” or the 

“SEF”) hereby notifies the Commission of amendments that were made to certain of its rules during the 

preceding week of August 15, 2022. 

A concise explanation of the amendments to the Rulebook is attached hereto as Exhibit A. A copy of the 

revised Rulebook marked to show changes against the previous Rulebook with an effective date of August 

22, 2022, is attached hereto as Exhibit B. A clean copy of the revised Rulebook is attached hereto as 

Exhibit C. 

IST certifies that the rule amendment complies with the requirements of the Commodity Exchange Act and 

the rules and regulations promulgated thereunder. IST is not aware of any substantive opposing views 

expressed with respect to this filing and certifies that, concurrent with this filing, a copy of this submission 

was posted on the IST’s website and may be accessed at: https://www.theice.com/swaptrade/regulation#rule-filings. 

Please contact the undersigned at (913)313-4250 with any questions regarding this matter.

Very truly yours,

Robert James Laorno

General Counsel

Enclosure
 

EXHIBIT A

Summary of Rulebook Changes

Rulebook

No.

Contract Name Changes Replacement

Language

13111 APAC LNG Derivatives Swap “Five (5) New York Business Days after 

each settlement date via wire transfer of 

Federal funds”

“Fourteen (14) Calendar Days 

after each settlement date via 

wire transfer or Federal 

funds”

13146 APAC LNG Derivatives Swap 

Balmo

“Five (5) New York Business Days after 

each settlement date via wire transfer of 

Federal funds”

“Fourteen (14) Calendar Days 

after each settlement date via 

wire transfer or Federal 

funds”

1391 3.5% CIF Med Cargoes vs 3.5% 

FOB Med Cargoes Balmo Swap

“Two Clearing House Business Days 

following the Last Trading Day”

“Five (5) New York Business 

Days after each settlement 

date via wire transfer of 

Federal funds”

1392 Marine Fuel 0.5% FOB 

Rotterdam Barges Balmo Swap

Previously available to trade as Marine 

Fuel 0.5% FOB Rotterdam Swap. 

Splitting this contract to trade monthly 

balance

A balance of the month cash 

settled swap

1393 Marine Fuel 0.5% FOB 

Singapore Balmo Swap

Previously available to trade as Marine 

Fuel 0.5% FOB Singapore Swap. 

Splitting this contract to trade monthly 

balance

A balance of the month cash 

settled swap
 

Rule 13111. APAC LNG Derivatives Swap

Contract Description: A monthly cash settled swap based on the Platts daily assessment price 

for the LNG Japan/Korea Marker (JKM). 

Contract Symbol: JKM

Contract Size: 10,000 MMBtu per contract month

Unit of Trading: Any multiple of 10,000 MMBtus

Currency: US Dollars and cents

Trading Price Quotation: One tenth of one cent ($0.001) per MMBtu

Last Trading Day: Trading shall cease on the 15th calendar day of the calendar month prior to 

the contract month. If the 15th calendar day is not a business day, then trading shall cease on 

the next preceding business day.

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

and cents per MMBtu based on the average of the relevant quotations appearing in “Platts LNG 

Daily” under the heading "Platts daily LNG markers ($/MMBtu)” subheading “DES Japan/Korea 

Marker (JKM)" for “JKM (month)” for each business day (as specified below) in the determination 

period.

Non-Common Pricing applies.

Contract Series: Up to 12 consecutive months, or as otherwise determined by the SEF

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire 

transfer of Federal funds Fourteen (14) Calendar Days after each settlement date via wire transfer 

or Federal funds

Business Days: Publication days for Platts LNG Daily

Other Terms: To be confirmed directly between the parties in their full form of contract. The 

terms reflected in such contracts shall be controlling.
 

Rule 13146. APAC LNG Derivatives Swap Balmo

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

assessment price for the APAC LNG Derivatives Swap.

Contract Symbol: JKD

Contract Size: 10,000 MMBtu per contract month

Unit of Trading: Any multiple of 10,000 MMBtus

Currency: US Dollars and cents

Trading Price Quotation: One tenth of cent ($0.001) per MMBtu

Last Trading Day: Trading shall cease on the 15th calendar day of the calendar month prior to 

the contract month. If the 15th calendar day is not a business day, then trading shall cease on 

the next preceding business day.

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

and cents per MMBTU based on the average of the “Mid” quotations appearing in the “Platts 

LNG Daily” under the heading "Platts daily LNG markers ($/MMBtu)” subheading “DES 

Japan/Korea Marker (JKM)" for “JKM (month)” for each business day (as specified below) in the 

determination period.

Contract Series: Up to 2 consecutive monthly contracts, or as otherwise determined by the 

Exchange. 

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire 

transfer of Federal funds Fourteen (14) Calendar Days after each settlement date via wire transfer 

or Federal funds

Business Days: Publication days for Platts LNG Daily

Other Terms: To be confirmed directly between the parties in their full form of contract. The 

terms reflected in such contracts shall be controlling.
 

Rule 1391. 3.5% CIF Med Cargoes vs 3.5% FOB Med Cargoes Balmo Swap

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

between the Platts daily assessment price for 3.5% FOB Med Cargoes Fuel Oil and the Platts daily 

assessment price for 3.5% FOB Rotterdam Barges Fuel Oil

Contract Symbol: FQJ

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

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 European Marketscan” under the heading “Mediterranean cargoes” 

subheading “CIF Med (Genova/Lavera)” for “Fuel Oil 3.5%” and the average of the “Mid” 

quotations appearing in the “Platts European Marketscan” under the heading “Mediterranean” 

subheading “FOB MED (Italy) ” for “Fuel Oil 3.5%” for each business day (as specified below) in 

the determination period.

Roll Adjust Provision: N/A

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

Final Payment Date: Two Clearing House Business Days following the Last Trading Day Five (5) 

New York Business Days after each settlement date via wire transfer of Federal funds

Business Days: Publication days for Platts European Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The 

terms reflected in such contracts shall be controlling.
 

Rule 1392. Reserved. Marine Fuel 0.5% FOB Rotterdam Barges Balmo Swap

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

for 0.5% FOB Rotterdam Barges Marine Fuel.

Contract Symbol: MFU

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

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 

European Marketscan” under the heading “Marine Fuel” for “0.5% FOB Rotterdam barge” for each 

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

Roll Adjust Provision: N/A

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

Final Payment Dates: Five (5) New York Business Days after each settlement date via wire transfer 

of Federal funds

Business days: Publication days for Platts European Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.
 

Rule 1393. Reserved. Marine Fuel 0.5% FOB Singapore Balmo Swap

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

for 0.5% FOB Singapore Marine Fuel.

Contract Symbol: MFV

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

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 

Asia-Pacific/Arab Gulf Marketscan” under the heading “Marine Fuel” for “0.5% FOB Singapore 

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

Roll Adjust Provision: N/A

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

Final Payment Dates: Fourteen (14) Calendar Days after each settlement date via wire transfer or 

Federal funds.

Business days: Publication days for Platts Asia-Pacific/Arab Gulf Marketscan

Other Terms: To be confirmed directly between the parties in their full form of contract. The terms 

reflected in such contracts shall be controlling.