Low Sulphur Gasoil Futures: Contract Specifications

ICE Futures Europe
Oct 26, 2020
Low Sulphur Gasoil Futures
Contract Specifications
The ICE Low Sulphur Gasoil Futures Contract is designed to provide users
with an effective hedging instrument and trading opportunities. The
underlying physical market for Low Sulphur Gasoil is diesel barges delivered
Description
in the ARA (Amsterdam, Rotterdam, Antwerp including Flushing and Ghent)
region. It is used as the pricing reference for all distillate trading in Europe
and beyond.
Commodity Code G
Contract Size 100 metric tonnes
One or more lots of 100 metric tonnes of low sulphur gasoil (10ppm diesel),
with delivery by volume namely 118.35 cubic metres per lot being the
Unit of Trading
equivalent of 100 metric tonnes of low sulphur gasoil (10ppm diesel), at a
density of 0.845 kg/litre in vacuum at 15 Celsius.
Currency US Dollars and cents
Trading Price Quotation Twenty-Five cents ($0.25) per metric tonne
Settlement Price Quotation Twenty-Five cents ($0.25) per metric tonne
Minimum Price Fluctuation Twenty-Five cents ($0.25) per metric tonne
Contract Series Up to 96 consecutive months
The Clearing House guarantees financial performance of all ICE Futures

contracts registered with it by its clearing members. All ICE Futures Member
Clearing
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
ICE Help Desk: Atlanta + 1 770 738 2101, London + 44 (0)20 7488 5100 or ICEHelpdesk@theice.com
1
Low Sulphur Gasoil Futures is a physically delivered contract and constraints

exist on the delivery capacity of installations in the ARA region. The
Exchange's daily position management regime requires that all positions in
any contract month must be reported to the Exchange on a daily basis. The
Exchange has powers to prevent the development of excessive positions or
unwarranted speculation or any other undesirable situation and may take any
steps necessary to resolve such situations including the ability to mandate
Position Limit members to limit the size of such positions or to reduce positions where
appropriate.
During the final month of trading in a contract, the Exchange contacts holders
of Low Sulphur Gasoil positions to confirm their intent and capability of
making or taking delivery and may require that positions be reduced to limit
position concentration, ensure price convergence with the physical market,
and maintain market integrity.
Trading shall cease at 12:00 hours London Time, 2 business days prior to
Last Trading Day
the 14th calendar day of the delivery month.
The weighted average price of trades during a two minute settlement period
Daily Settlement
from 16:28:00, London time.
Physical delivery within the ARA region between 16th and last calendar day
of the delivery month.
Physical deliveries between the months of October and March must be of

Final Settlement
winter grade quality with deliveries outside of these months (i.e. from April to
September) being of summer grade quality. Full quality specifications are
published in the ICE Futures Europe Rulebook
(https://www.theice.com/publicdocs/contractregs/15_SECTION_J1.pdf).
NCR: 5.00;
RL: 7.50;
NCR, RL and IPL Levels IPL: 7.50, 3 second recalculation and 5 second hold periods.
To access NCR documentation click here
Contracts are for the future delivery of low sulphur gasoil from the seller to
the buyer into barge (or coaster up to 10,000 dwt) or by in-tank or inter-tank
transfer from an Exchange Recognised Customs and Excise bonded storage
installation or refinery in the Amsterdam, Rotterdam, Antwerp (ARA) area
(including Flushing and Ghent) nominated by the seller and on a day
Additional Information
nominated by the buyer within a mutually agreed 5 day delivery range
between the 16th and the last calendar day of the delivery month. Quantity
and quality is verified by one Exchange approved inspector selected from
two nominated by the buyer. Buyers and sellers adhere to strict deadlines set
out in the Exchange Contract Rules and Procedures.
2
TAS (Trade at Settlement)

Markers MM (Minute Marker)
Sing MM (Singapore Minute Marker)
Business Days ICE Business Days
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ICE Futures Europe

Oct 26, 2020

Low Sulphur Gasoil Futures

Contract Size 100 metric tonnes

Currency US Dollars and cents

Trading Price Quotation Twenty-Five cents ($0.25) per metric tonne

Settlement Price Quotation Twenty-Five cents ($0.25) per metric tonne

Minimum Price Fluctuation Twenty-Five cents ($0.25) per metric tonne

Contract Series Up to 96 consecutive months

The Clearing House guarantees financial performance of all ICE Futures

Low Sulphur Gasoil Futures is a physically delivered contract and constraints

Physical deliveries between the months of October and March must be of

To access NCR documentation click here

TAS (Trade at Settlement)

Business Days ICE Business Days

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