ICE Heating Oil Arb - Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line (in Bbls)

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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).

Heating Oil Arb - Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line (in Bbls) Futures
Trading Screen Product Name Heating Oil Arb Futures
Trading Screen Hub Name HO 1st Line/LS GO 1st Line
Contract 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 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 Business 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 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 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 in the determination period. Non-Common Pricing applies. 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
Final Payment Date Two Clearing House Business Days following the Last Trading Day
Business Days ICE Business Days
MIC Code IFED
Clearing Venues ICEU
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 7:50 PM - 6:00 PM*

19:50 - 18:00

7:40 PM

19:40

LONDON 12:50 AM - 11:00 PM*

00:50 - 23:00

12:40 AM

00:40

SINGAPORE 8:50 AM - 7:00 AM*

08:50 - 07:00

8:40 AM

08:40

*Next Day

Sunday Pre-Open 5:10 PM ET; Closed on Saturday

Codes Clearing Admin Name Am Ref Diff bbl
Physical ULM
Logical ULM
GMI (FC) WG
ION A.C.N. None

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ICE Heating Oil Arb - Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line Future (in Bbls) Product Spec