ICE Heating Oil
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The ICE Heating Oil Futures contract is cash-settled against the prevailing market price for heating oil in New York Harbour. The contract was launched on Apr. 21, 2006.
| New York Harbor Heating Oil futures | ||
|---|---|---|
| Exchange | ICE | |
| Settlement | Cash settled | |
| Trade Unit | 42,000 US gallons (1,000 barrels) | |
| Point Value | US$0.01 | |
| Tick Value | $4.20 | |
| Contract Months | 36 consecutive months | |
| Last Trading Day | Trading shall cease at the end of the designated settlement period on the penultimate US business day of the month preceding the contract month. | |
| Note: This contract is electronic ONLY -- no open outcry | ||
| No Open Outcry | Electronic | |
| Trading Hours | N/A | 01:00 to 23:00 London local time |
| Ticker Symbol | N/A | N/A |
| Price Limits | N/A | There are no limits |
Notes
LCH.Clearnet Ltd. (LCH) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Futures contracts registered in the name of its members.
The cash settlement price in U.S. dollars per U.S. gallon is equal to the next to last settlement price for New York Harbor No. 2 Heating Oil Futures Contract as made public by NYMEX for the month of production as specified within the relevant contract rules by reference to the 2005 ISDA Commodity Definitions. All open contracts are marked-to-market daily.
