dw_march_2015_pdf
dw_march_2015_pdf
dw_march_2015_pdf
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ICE Introduces European Crude and Refined Oil Options<br />
and Futures<br />
As of March 30, <strong>2015</strong>, Intercontinental Exchange (ICE) introduced a European heating oil vs.<br />
low sulfur gasoil option and a fuel oil 1% FOB average price option:<br />
Heating Oil Diff – EU-Style Heating Oil vs. Low Sulfur Gasoil Option<br />
Petroleum<br />
Description<br />
Contract Symbol<br />
Hedge Instrument<br />
Contract Size<br />
The Fuel Oil 1% FOB NWE Cargos (Platts) Average Price Option is based on<br />
the underlying Fuel Oil 1% FOB NWE Cargos (Platts) Future (CAR) and will<br />
automatically exercise into the settlement price of the Future on the day of<br />
expiry of the options contract.<br />
CAR<br />
The delta hedge for the Fuel Oil 1% FOB NWE Cargos (Platts) Average Price<br />
Option is the Fuel Oil 1% FOB NWE Cargos (Platts) Mini Future (CAT).<br />
1,000 metric tons<br />
Unit of Trading<br />
Any multiple of 1,000 metric tons<br />
Currency<br />
US Dollars and cents<br />
Trading Price Quotation<br />
One cent ($0.01) per metric ton<br />
Settlement Price Quotation<br />
One tenth of one cent ($0.001) per metric ton<br />
Minimum Price Fluctuation<br />
One tenth of one cent ($0.001) per metric ton<br />
Last Trading Day<br />
Last Trading Day of the contract month<br />
Contract Series<br />
Up to 60 consecutive months<br />
March <strong>2015</strong><br />
22
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