ICE Fuel Oil futures

C

Capua

Hi all,

Probably answering my own question, is there anyone here who trades the 180 or 380 fuel oil contracts on ICE, and can confirm the tick size is only $1?

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
Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne

The minimum price fluctuation is 0.001 per metric tonne, the contract is 1000 tonnes so a tick in minimum size is worth $1????

Any thoughts/help please?
 
Capua, I have not personally traded this particular exchange spread (symbol STS on ICE). But the volume and open interest are very nominal - May18 has an OI of 1,170 with a Daily Volume of 80; Jun18 has an OI of 801 with a Daily Volume of 15. Unless you are a commercial (and they are very active in the swaps market to a much greater extent than the futures) IMHO it wouldn't make any sense to get involved with this particular contract.

https://www.theice.com/marketdata/reports/144
 
Capua said:
... and can confirm the tick size is only $1?

...The minimum price fluctuation is 0.001 per metric tonne, the contract is 1000 tonnes so a tick in minimum size is worth $1????

Any thoughts/help please?
More...

To answer your specific question, ask ICE. Give them a call.
 
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