2008 ICE PRODUCT GUIDE

Table of Contents
Introduction..........................................................................................................2
ICE Futures U.S. Contract Specifications
Sugar No. 11 Futures...........................................................................................9
Sugar No. 11 Options........................................................................................ 10
Sugar No. 14 Futures......................................................................................... 11
Cotton No. 2 Futures..........................................................................................12
Cotton No. 2 Options......................................................................................... 13
Coffee “C”® Futures.......................................................................................... 14
Coffee “C”® Options..........................................................................................15
Robusta Futures.................................................................................................16
Robusta Options................................................................................................ 17
Cocoa Futures....................................................................................................18
Cocoa Options...................................................................................................19
FCOJ-A Futures................................................................................................. 20
FCOJ-A Options.................................................................................................21
Pulp Futures.......................................................................................................22
Russell 1000® Index Futures.............................................................................23
Russell 2000® Index Futures.............................................................................24
U.S. Dollar Index (USDX) Futures......................................................................25
U.S. Dollar Index (USDX) Options.....................................................................26
Currency Pairs Futures...................................................................................... 27
Contracts Coming Soon.....................................................................................28

OTC Cleared Contract Specifications

Power–PJM WH Real Time Peak Daily...............................................................31
Natural Gas Swap, Fixed for NYMEX LD1.........................................................32
Natural Gas Basis Swap: LD1 for Canadian Gas Price Reporter; Alberta........33
Natural Gas, Penultimate Henry Hub (Equity) Options......................................34
Additional Products............................................................................................35

ICE Futures Europe Contract Specifications

ICE Brent Futures...............................................................................................37
ICE Brent Options..............................................................................................38
ICE WTI Futures.................................................................................................39
West Texas Intermediate (WTI) Options.............................................................40
Middle East Sour Crude (MESC) Futures.......................................................... 41
ICE Gasoil Futures.............................................................................................42
ICE Gasoil Options.............................................................................................43
ICE Heating Oil Futures..................................................................................... 44
ICE RBOB Futures............................................................................................. 45
ICE ECX CFI (Emissions) Futures......................................................................46
ICE ECX CFI Options.........................................................................................47
ICE UK Natural Gas Futures..............................................................................48
ICE UK Base & Peak Electricity Futures............................................................49
ICE Richard’s Bay Coal Futures.........................................................................50
ICE Rotterdam Coal Futures.............................................................................. 51
THE WORLD ON ICE
IntercontinentalExchange® (ICE) operates global commodity,
currency and equity index markets, including the world’s
leading electronic energy markets and the leading soft
commodity exchange. ICE participants have access to diverse
futures and over-the-counter (OTC) markets offering contracts
on energy, agricultural and soft commodities, equity indexes,
and currencies. ICE also provides market data, electronic
trade confirmation and clearing services.

As the developer of one of the world’s fastest and most

sophisticated derivatives trading platforms, ICE is a
technology- and customer-driven organization. Through
technology, ICE has improved the trading experience by
increasing market access, speed and transparency for market
participants. The ICE platform is the first to offer electronic
access to both futures and OTC energy markets, allowing
participants around the globe to optimize their trading
operations and strategies.

Thousands of ICE participants span the globe and

include traders, brokers, risk managers, FCMs, portfolio
managers, commercial and industrial firms, financial
institutions, and funds.

Start Trading the World

ICE’s electronic platform is a gateway to an integrated
marketplace — one in which participants can access dozens
of markets on an integrated platform. Customers connect to
this platform through telecommunications hubs, direct
connections, collocation or via the Internet.

ICE markets are available through a variety of interface

alternatives, including ICE’s Internet-based trading platform,
WebICE, and its proprietary front-end systems via ICE’s API,
as well as through independent software vendors (ISVs) and
brokerage firms.

For more information on ICE, please visit www.theice.com.

3
 GLOBAL FUTURES MARKETS
AT YOUR FINGERTIPS

4
Futures
With futures exchanges in the U.S., Europe and Canada, ICE
brings a diverse range of products together at a single point
of access. ICE’s futures markets offer contracts on many of the
world’s benchmark energy, soft and agricultural commodities,
as well as Russell Index® futures and foreign exchange
products relied upon worldwide.

ICE conducts its energy futures markets through ICE Futures

Europe, its London-based futures exchange, which offers the
world’s leading oil benchmark contracts and trades nearly half
of the world’s global crude futures.

ICE conducts its soft commodity, foreign exchange and equity

index markets through its U.S. futures exchange, ICE Futures
U.S. ICE Futures U.S. is home to the World Sugar Contract,
as well as leading contracts for Coffee “C,” cocoa, cotton,
currency pairs, the U.S. Dollar Index and Russell Index contracts.

The leading contracts for Canadian agricultural products,

such as canola, feed wheat and barley, are available through
Winnipeg Commodity Exchange (WCE), ICE’s Canadian
futures exchange.

5
 GLOBAL OTC MARKETS:
ENERGY TRADING REFINED

6
OTC
From North American natural gas and power to jet fuel
delivered in Asia, you can find it in ICE’s electronic OTC
energy marketplace. ICE OTC markets feature a range of
financial contracts, as well as contracts for the physical
delivery of products. With over 15,200 unique contracts,
ICE’s OTC markets offer swaps, spreads, basis, options and
differentials on products including:
• Crude Oil
• Natural Gas
• NGLs
• Power
• Refined Oil Products

To make the trading process more efficient and mitigate risk,

ICE offers clearing on 100 standardized energy contracts,
known as cleared OTC contracts. Another 800 products
are traded bilaterally on the ICE platform, which employs
sophisticated bilateral counterparty credit filter functionality.

ICE pioneered the concept of OTC clearing and has

revolutionized the market by reducing bilateral credit
exposure. OTC clearing improves capital efficiency and
increases market liquidity. ICE Clear provides the safety
and security of a central clearinghouse combined with the
flexibility of our electronic marketplace.

7
 ICE Futures U.S.
Contract Specifications

For All ICE Products:

Fees & Quote Vendor Codes:

Please visit www.theice.com.

Contact info:
For more information on ICE products and services,
please send your request to [email protected].

8
Sugar No. 11SM Futures
The Sugar No. 11 contract, also known as World Sugar, is the global benchmark
contract for raw sugar trading. The contract prices physical delivery of raw cane
sugar free-on-board the receiver’s vessel at a port within the country of origin of the
sugar as named by the deliverer.

Contract Specifications
Electronic Trading Hours New York London Tokyo
Open* 01:30 06:30 14:30
Close 15:15 20:15 04:15 next day
*The trading platform is available from 20:00 ET the day prior for order entry.

Floor Trading Hours 08:30 to 12:30 ET; closing period commences at 12:28 ET
Symbol SB
Contract Size 112,000 pounds (50 long tons)
Price Quotation Cents and hundredths of a cent per pound to two decimal places
Contract Listings March, May, July and October
Minimum Price Movement 1/100 of a cent per pound ($11.20/contract)
Settlement Physical delivery, FOB receiver’s vessel.
Grade/Standards/Quality Raw centrifugal cane sugar based on 96 degrees average polarization.
Daily Price Limit None
Deliverable Growths Growths of Argentina, Australia, Barbados, Belize, Brazil, Colombia, Costa Rica,
Dominican Republic, El Salvador, Ecuador, Fiji Islands, French Antilles,
Guatemala, Honduras, India, Jamaica, Malawi, Mauritius, Mexico, Mozambique,
Nicaragua, Peru, Republic of the Philippines, South Africa, Swaziland, Taiwan,
Thailand, Trinidad, United States, and Zimbabwe.
Delivery Points A port in the country of origin or in the case of landlocked countries, at a berth
or anchorage in the customary port of export. Subject to minimum standards
established by the Exchange’s rules.
First Notice Day First business day after the last trading day.
Last Trading Day Last business day of the month preceding delivery month.
Last Notice Day First business day after the last trading day.
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

9
Sugar No. 11SM Options

Contract Specifications
Trading Hours 8:10 to 12:30 ET
Unit of Trading One Futures contract
Minimum Price Fluctuation 1/100 of a cent per pound ($11.20/contract)
Maximum Daily N/A
Price Fluctuation
Contract Expirations Regular Options: March, May, July and October.
Serial Options: January, February, April, June, August, September, November
and December
Position Limits See futures specs.
Last Trading Day Second Friday of the month preceding the contract month. Commencing with
the March 2009, and all subsequent contracts, the LTD is the 15th calendar day
of the expiration month, or the first business day after the 15th should this be a
weekend or an Exchange holiday
Settlement American style
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

10
Sugar No. 14 Futures
The Sugar No. 14 contract serves the hedging needs of U.S. sugar producers,
end-users and merchants. The contract prices physical delivery of U.S.-grown (or
foreign origin with duty paid by deliverer) raw cane sugar at one of five U.S. refinery
ports as selected by the receiver.

Contract Specifications
Electronic Trading Hours New York London Tokyo
Open* 07:00 12:00 20:00
Close 15:15 20:15 04:15 next day
*The trading platform is available 15 minutes before the opening for order entry.

Symbol SE
Contract Size 112,000 pounds (50 long tons)
Price Quotation Cents and hundredths of a cent per pound to two decimal places
Contract Listings January, March, May, July, September and November
Minimum Price Movement 1/100 of a cent per pound ($11.20/contract)
Settlement Physical delivery, in a vessel berthed at a customary refiner’s berth.
Grade/Standards/Quality Raw centrifugal cane sugar based on 96 degrees average polarization.
Daily Price Limit None
Deliverable Growths Cane sugars of the United States, duty free foreign origin, duty paid and
delivered in bulk.
Delivery Points New York, Baltimore, Galveston, New Orleans and Savannah.
First Notice Day First business day after the last trading day.
Last Trading Day Eighth calendar day of the month preceding the delivery month, or next
succeeding Exchange business day, if the eighth day is not an Exchange
business day.
Last Notice Day First business day after the last trading day.
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

11
Cotton No. 2SM Futures
The Cotton No. 2 contract is the benchmark contract for the global cotton trading
community. The contract prices physical delivery of U.S.-grown, exchange-grade
product with grading performed by the United States Department of Agriculture.
Product is stored in exchange-licensed warehouses in any of five U.S. locations.

Contract Specifications
Electronic Trading Hours New York London Tokyo
Open* 01:30 06:30 14:30
Close 15:15 20:15 04:15 next day
*The trading platform is available from 20:00 ET the day prior for order entry.

Floor Trading Hours 10:30 to 14:15 ET; closing period commences at 14:14 ET
Symbol CT
Contract Size 50,000 pounds net weight
Price Quotation Cents and hundredths of a cent per pound
Contract Listings March, May, July, October and December (Current month plus one or more of
the next 23 succeeding months)
Minimum Price Movement 1/100 of a cent (one “point”) per pound below 95 cents per pound. 5/100 of
a cent (or five “points”) per pound at prices of 95 cents per pound or higher.
Spreads may always trade and be quoted in one point increments (point value
of $5/contract).
Settlement Physical delivery
Grade/Standards/Quality Basic Grade = strict low middling quality and 1 2/32nd of an inch staple length
Daily Price Limit 3 cents above or below previous day’s settlement price. However, if any contract
months settle at or above $1.10 per pound, all contract months will trade with
4 cent price limits. Should no month settle at or above $1.10 per pound, price
limits stay (or revert) to 3 cents/lb. Spot month - no limit on or after the first
notice day.
Deliverable Origins U.S. cotton only.
Delivery Points Galveston, TX; Houston, TX; New Orleans, LA; Memphis, TN;
Greenville/Spartanburg, SC
First Notice Day Five business days before the first business day of spot month.
Last Trading Day Seventeenth last business day from end of spot month.
Last Notice Day Twelve business days from end of spot month.
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

12
Cotton No. 2SM Options

Contract Specifications
Trading Hours 10:30 to 14:15 ET
Unit of Trading One Futures contract
Minimum Price Fluctuation 1/100 of a cent (one “point”) per pound
Maximum Daily N/A
Price Fluctuation
Contract Expirations Regular Options: March, May, July, September and December.
Serial Options: January, February, April, June, August, October and November
Position Limits See futures specs.
Last Trading Day For Regular Options: Last Friday preceding the first notice day for the underlying
futures by at least 5 business days. For Serial Options: Third Friday of the month
in which the option expires
Settlement American style
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

13
Coffee “C” ® Futures
The Coffee “C” contract is the world benchmark contract for Arabica coffee.
The contract prices physical delivery of exchange-grade green beans from one
of 19 countries of origin in a licensed warehouse in one of several ports in the U. S.
and Europe, with stated premiums/discounts for ports and growths.

Contract Specifications
Electronic Trading Hours New York London Tokyo
( Sun - Fri) Open* 01:30 06:30 14:30
Close 15:15 20:15 04:15 next day
*The trading platform is available from 20:00 ET the day prior for order entry.

Floor Trading Hours 08:30 to 12:30 ET; closing period commences at 12:29 ET
(Mon - Fri)
Symbol KC
Contract Size 37,500 pounds
Price Quotation Cents and hundredths of a cent up to two decimal places
Contract Listings March, May, July, September and December
Minimum Price Movement 5/100 cent/lb = $18.75 per contract
Settlement Physical delivery
Grade/Standards/Quality A Notice of Certification is issued based on testing the grade of the beans and by
cup testing for flavor. The Exchange uses certain coffees to establish the “basis.”
Coffees judged better are at a premium; those judged inferior are at
a discount.
Daily Price Limit None
Deliverable Growths Basis: Mexico, Salvador, Guatemala, Costa Rica, Nicaragua, Kenya, New
(Differential: Country) Guinea, Panama, Tanzania, Uganda, Honduras and Peru
Plus 200 pts: Colombia
Minus 100 pts: Venezuela, Burundi and India
Minus 300 pts: Rwanda
Minus 400 pts: Dominican Republic and Ecuador
Delivery Points Exchange licensed warehouses in the Port of New York District (at par), the
Port of New Orleans, the Port of Houston, the Port of Bremen/Hamburg, the
Port of Antwerp, the Port of Miami and the Port of Barcelona* at a discount
1.25 cents/lb.
*Port effective beginning with the March 2008 contract.

First Notice Day Seven business days prior to the first business day of the delivery month.
Last Trading Day One business day prior to last notice day.
Last Notice Day Seven business days prior to the last business day of the delivery month.
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

14
Coffee “C” ® Options

Contract Specifications
Trading Hours 08:30 to 12:30 ET
Unit of Trading One Futures contract
Minimum Price Fluctuation 1/100 cent/lb., equivalent to $3.75 per contract
Maximum Daily N/A
Price Fluctuation
Contract Expirations Regular Options: March, May, July, September and December.
Serial Options: January, February, April, June, August, October and November
Position Limits See futures specs.
Last Trading Day Second Friday of the calendar month preceding such regular or serial option
month; provided , however, that for each option, there will be a minimum of four
(4) trading days between the last trading day of the expiring option and the first
notice day of the expiring future
Settlement American style
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

15
Robusta Futures
Robusta Coffee futures contracts offer enhanced trading opportunities to a
large community of producers, exporters, trade houses, roasters, importers and
investment funds, many of whom already trade ICE’s Coffee “C” contracts.
Robusta Coffee today accounts for more than 40% of world’s coffee production
and one-third of world’s coffee exports.

Contract Specifications
Electronic Trading Hours New York London Tokyo
Open* 01:30 06:30 14:30
Close 15:15 20:15 04:15 next day
*The trading platform is available from 20:00 ET the day prior for order entry.

Symbol RC
Contract Size 37,500 pounds
Price Quotation Cents and hundredths of a cent up to two decimal places
Contract Listings March, May, July, September and December
Minimum Price Movement 5/100 cent/lb = $18.75 per contract
Settlement Physical delivery
Grade/Standards/Quality A Notice of Certification is issued based on testing the grade of the beans and by
cup testing for flavor. The Exchange uses certain coffees to establish the “basis.”
Coffees judged better are at a premium; those judged inferior are at
a discount.
Daily Price Limit None
Deliverable Growths Angola, Brazilian Conillon, Cameroon, Central African Republic, China,
Ecuador, Ghana, Guatemala, Guinea, India, Indonesia, Cote d’Ivoire, Laos,
Liberia, Malagasy Republic, Mexico, Nigeria, Phillippines, Republic of Congo,
Sierra Leone, Tanzania, Thailand, Togo, Trinidad, Uganda, Vietnam and
Democratic Republic of Congo.
No growth differentials.
Delivery Points New York, New Orleans, Miami and Houston at par; Antwerp, Barcelona,
Bremen, Hamburg and Trieste at a 125 point discount.
First Notice Day Seven business days prior to the first business day of the delivery month.
Last Trading Day One business day prior to last notice day.
Last Notice Day Seven business days prior to the last business day of the delivery month.
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

16
Robusta Options

Contract Specifications
Trading Hours 08:30 to 12:30 ET
Unit of Trading One Futures contract
Minimum Price Fluctuation 1/100 cent/lb., equivalent to $3.75 per contract
Maximum Daily N/A
Price Fluctuation
Contract Expirations Regular Options: March, May, July, September and December.
Serial Options: January, February, April, June, August, October and November
Position Limits See futures specs.
Last Trading Day Second Friday of the calendar month preceding such regular or serial option
month; provided , however, that for each option, there will be a minimum of four
(4) trading days between the last trading day of the expiring option and the first
notice day of the expiring future
Settlement American style
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

17
Cocoa Futures
The Cocoa contract is the world benchmark contract for the global cocoa market.
The contract prices physical delivery of exchange-grade product from a variety of
African, Asian, and Central and South American origins in any of five U.S. delivery ports.

Contract Specifications
Electronic Trading Hours New York London Tokyo
Open* 01:30 06:30 14:30
Close 15:15 20:15 04:15 next day
*The trading platform is available from 20:00 ET the day prior for order entry.

Floor Trading Hours 08:00 to 11:50 ET; closing period commences at 11:48 ET
Symbol CC
Contract Size 10 metric tons
Price Quotation Dollars per metric ton
Contract Listings March, May, July, September and December
Minimum Price Movement $1.00/metric ton, equivalent to $10.00 per contract.
Settlement Physical delivery
Daily Price Limit None
Deliverable Growths The growth of any country or clime, including new or yet unknown growths.
Growths are divided into three classifications listed below.
Group A – Deliverable at a premium of $160/ton (including main crops of
Ghana, Lome Nigeria, Ivory Coast and Sierra Leone).
Group B – Deliverable at a premium of $80/ton (includes Bahia, Arriba,
Venezuela, Sanchez, among others).
Group C–Deliverable at par (includes Haiti, Malaysia and all others).
Delivery Points At licensed warehouses in the Port of New York District, Delaware River Port
District, Port of Hampton Roads, Port of Albany or Port of Baltimore.
First Notice Day Ten business days prior to the first business day of the delivery month.
Last Trading Day One business day prior to last notice day.
Last Notice Day Ten business days prior to the last business day of the delivery month.
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

18
Cocoa Options

Contract Specifications
Trading Hours 08:00 to 11:50 ET
Unit of Trading One Futures contract
Minimum Price Fluctuation $1.00/metric ton, equivalent to $10.00 per contract
Maximum Daily N/A
Price Fluctuation
Contract Expirations Regular Options: March, May, July, September and December.
Serial Options: January, February, April, June, August, October and November
Position Limits See futures specs.
Last Trading Day First Friday of the month preceding the contract month
Settlement American style
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

19
FCOJ-A Futures
The FCOJ-A futures contract is the world benchmark contract for the frozen
concentrated orange juice market. The contract prices physical delivery of
exchange-grade product (with grading performed by the USDA), based on
country of origin (U.S. and/or Brazil), that is stored in exchange-licensed
warehouses in the U.S.

Contract Specifications
Electronic Trading Hours New York London Tokyo
Open* 07:00 12:00 20:00
Close 15:15 20:15 04:15 next day
*The trading platform is available 15 minutes before the opening for order entry.

Floor Trading Hours 10:00 to 13:30 ET; closing period commences at 13:29 ET
Symbol OJ
Contract Size 15,000 pounds of orange juice solids
Price Quotation Cents and hundredths of a cent to two decimal places
Contract Listings January, March, May, July, September and November with at least two January
months listed at all times.
Minimum Price Movement 5/100 of a cent per pound ($7.50/contract)
Settlement Physical delivery
Grade/Standards/Quality U.S. Grade A with a Brix value of not less than 62.5 degrees.
Daily Price Limit A movable 10 cents per pound above/below the previous day’s settlement price.
When the futures contract month with the largest open interest hits the 10 cent
limit up or down, a suspension of trading may be triggered after which trading
will resume with all months having a new limit of 10 cents per pound above/
below the price level at which each month was trading/bid/offered at the time of
the suspension. See Rule 13.08 for details.
Delivery Points Exchange-listed warehouses in Florida, New Jersey and Delaware.
Deliverable Origins Florida and/or Brazil only.
First Notice Day First business day of the contract month.
Last Trading Day Fourteenth business day prior to the last business day of the month.
Last Notice Day Fifth business day prior to the last business day of the contract month.
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

20
FCOJ-A Options

Contract Specifications
Trading Hours 10:00 to 13:30 ET
Unit of Trading One Futures contract
Minimum Price Fluctuation 5/100 of a cent per pound ($7.50/ contract)
Maximum Daily N/A
Price Fluctuation
Contract Expirations In addition to a February options contract, each listed futures month will have
its option month listed for trading (to January, March, May, July, September,
November). In addition, the nearest calendar month, which is not a futures
month, will be listed (April, June, August, October, December)
Position Limits See futures specs.
Last Trading Day The third Friday of the month preceding the named option month
Settlement American style
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

21
Pulp Futures
The Pulp futures contract is a world benchmark for different grades of wood pulp.
The contract listed by the Exchange supplies standardized specifications of quality
and type of the wood pulp. It is listed for electronic trading on the ICE platform.

Contract Specifications
Electronic Trading Hours New York London Tokyo
Open* 07:00 12:00 20:00
Close 15:15 20:15 03:15 next day
*The trading platform is available 15 minutes before the opening for order entry.

Symbol P
Contract Size 20 air dry metric tons
Price Quotation U.S. dollars and cents per metric ton
Contract Listings February, April, June, August, October and December
Minimum Price Movement USD 0.25/metric ton ( $5.00/contract)
Settlement Physical delivery
Grade/Standards/Quality The pulp shall be commercially accepted “prime” grade produced in Exchange
approved mills. Complete quality parameters are set out in the Exchange
Rulebook. The following are some selective quality parameters: Moisture
content less than 21%, dirt count of the pulp shall not be more than 7mm/2kg,
brightness of the pulp shall be 88% ISO or higher.
Daily Price Limit None
Deliverable Growths BSK at a $40 per ton discount, NBSK at par, and Radiata at a $20 per ton
discount
Delivery Points Delivery is made from Exchange-licensed warehouses in Antwerp, Belgium;
Rotterdam, Terneuzen and Vlissingen, Netherlands; Green Bay, Wisconsin, U.S.
and in the Port of Changsu Xingao, China (effective on and after the June
2008 delivery).
First trading day Trading in a new delivery month shall, unless the Board otherwise determines,
be initiated at the opening of trading on the first business day following the last
trading day of the expiring delivery month.
First Notice Day The Exchange business day following last trading day.
Last Trading Day The last trading day shall be the third Wednesday of the expiring month.
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

22
Russell 1000 ® Index Futures
Russell 1000® Index futures contracts are available on the ICE trading platform
in two sizes: a regular-sized contract ($500 X Index) and a mini-sized contract
($100 X Index). The mini contract is available only in electronic markets.

Contract Specifications
Electronic Trading Hours New York London Tokyo
( Sun - Fri) Open* 20:00 01:00 09:00
Close 18:00 next day 23:00 07:00 next day
Settle 18:00 23:00 07:00
*The trading platform is available 5 minutes before the opening for order entry.

Floor Trading Hours 09:30 to 16:15 ET

(Mon - Fri)
Unit of Trading and Symbol R = Regular contract = $500 X Index
RF = Mini-size contract = $100 X Index
Quotation and Tick Value Index points
R: .01 = $5 Tick Size .05 = $25 Block Trade Symbol = RL
RF: .01 = $1 Tick Size .05 = $5 Block Trade Symbol = RS
Contract Listings Four months in the March/June/September/December quarterly expiration cycle
Price Limits Please see ICE Futures U.S. Rule 19.06 for daily price limits and trading halts.
Daily Settlement The volume-weighted average price of all open outcry and electronic trades
transacted in the closing session (16:14 to 16:15 ET)
Last Trading Day Third Thursday of the expiration month.
Trading ceases at 16:15 ET.
Fees Please visit www.theice.com for fees.
Final Settlement Cash settlement to a special calculation of the Russell 1000 Index based on
the opening prices of the component stocks on the third Friday of the contract
month. For details and exceptions, please visit www.theice.com.
Margins Marked-to-market by ICE Clear U.S. on a daily basis, or as market conditions
might require. Up-to-date margin rates may be found at www.theice.com.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

23
Russell 2000 ® Index Futures
Russell 2000® Index futures contracts offered by ICE Futures U.S. are available
on the ICE trading platform in two sizes: a regular-sized contract ($500 X Index)
and a mini-sized contract ($100 X Index). The mini contract is available only in
electronic markets.

Contract Specifications
Electronic Trading Hours New York London Tokyo
( Sun - Fri) Open* 20:00 01:00 09:00
Close 18:00 next day 23:00 07:00 next day
Settle 18:00 23:00 07:00
*The trading platform is available 5 minutes before the opening for order entry.

Floor Trading Hours 09:30 to 16:15 ET

(Mon - Fri)
Unit of Trading and Symbol TO = Regular contract = $500 X Index
TF = Mini-size contract = $100 X Index
Quotation and Tick Value Index points
TO: .01 = $5 Tick Size .05 = $25 Block Trade Symbol = TL
TF: .01 = $1 Tick Size .10 = $10 Calendar Spreads = .05 Block Trade Symbol = TS
Contract Listings Four months in the March/June/September/December quarterly expiration cycle
Price Limits Please see ICE Futures U.S. Rule 19.06 for daily price limits and trading halts.
Daily Settlement The volume-weighted average price of all open outcry and electronic trades
transacted in the closing session (16:14 to 16:15 ET)
Last Trading Day Third Thursday of the expiration month.
Trading ceases at 16:15 ET.
Fees Please visit www.theice.com for fees.
Final Settlement Cash settlement to a special calculation of the Russell 2000 Index based on
the opening prices of the component stocks on the third Friday of the contract
month. For details and exceptions, please visit www.theice.com.
Margins Marked-to-market by ICE Clear U.S. on a daily basis, or as market conditions
might require. Up-to-date margin rates may be found at www.theice.com.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

24
U.S. Dollar Index (USDX) Futures
The U.S. Dollar Index (USDX) is a leading benchmark for the value of the U.S.
Dollar relative to key international currencies. The USDX is one of the world’s most
widely-recognized currency indexes and is offered electronically alongside
currency pair futuress on ICE’s electronic platform, as well as in floor trading.

Contract Specifications
Electronic Trading Hours New York London Tokyo
( Sun - Fri) Open* 20:00 01:00 09:00
Close 18:00 next day 23:00 07:00 next day
Settle 15:00 20:00 04:00
*The trading platform is available 5 minutes before the opening for order entry.

Unit of Trading One contract = $1000 X Index value

Symbol DX
Quotation and Tick Value U.S. Dollar Index points, calculated to three decimal places
.010 = $10 Tick Size .005 = $5
Contract Listings Four months in the March/June/September/December quarterly expiration cycle
Price Limits None
Daily Settlement The volume-weighted average price of all open outcry and electronic trades
transacted in the closing session (14:59 to 15:00 ET)
Last Trading Day Trading ceases at 10:16 ET two days prior to settlement
(see next entry).
Final Settlement The U.S. Dollar Index is physically settled on the third Wednesday of the
expiration month against six component currencies (euro, Japanese yen,
British pound, Canadian dollar, Swedish krona and Swiss franc) in their
respective percentage weights in the Index. Settlement rates may be quoted to
three decimal places.
Fees Please visit www.theice.com for fees.
Position Limits The DX contract has no position limits.
Margins Marked-to-market by ICE Clear U.S. on a daily basis, or as market
conditions might require. Up-to-date margin rates may be found by clicking
on “Margin Rates” at www.theice.com.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
Europe Dublin +353 (1) 607 4000
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

25
U.S. Dollar Index (USDX) Options

Contract Specifications
Trading Hours 2:00 to 15:00 ET
Unit of Trading One Futures contract
Minimum Price Fluctuation N/A
Maximum Daily N/A
Price Fluctuation
Contract Expirations March, June, September, December and the nearest two months
Position Limits See futures specs.
Last Trading Day Two Friday’s before the third Wednesday of the expiring contract month
Settlement American style
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

26
Currency Pairs Futures
ICE Futures U.S. offers a range of dollar and non-dollar currency crosses.
The following contracts are now available in ICE’s electronic markets:

Contract Specifications
Electronic Trading Hours New York London Tokyo
( Sun - Fri) Open 20:00 01:00 09:00
Close 18:00 next day 23:00 07:00 next day
Floor Trading Hours See www.theice.com for floor trading hours.
Contract Listings March, June, September and December
Contract Symbol Contract Size Price Quotation Minimum Price Movement
Euro - British Pound GB 100,000 euros Pound per euro to .00005 or 5 British pounds
5 decimal places per contract
Euro - Japanese Yen EJ 100,000 euros Yen per euro to .005 or 500 yen
3 decimal places per contract
Euro - Swiss Franc RZ 100,000 euros S. franc per euro to .00005 or 5 S. francs
5 decimal places per contract
Euro - U.S. Dollar EO 100,000 euros U.S. dollars per euro .00005 or 5 U.S. dollars
to 5 decimal places per contract
U.S. Dollar - Japanese Yen SN 100,000 U.S. $ Yen per U.S. dollar .005 or 500 yen
to 3 decimal places per contract
U.S. Dollar - Swiss Franc MF 100,000 U.S. $ S. francs per U.S. .00005 or 5 S. francs
dollar to 5 per contract
decimal places
British Pound - U.S. Dollar MP 62,500 Pounds U.S. dollars per .0001 or 6.25 U.S. dollars
pound to 4 per contract
decimal places
British Pound - SS 125,000 British S. francs per pound .00005 or 6.25 S. francs
Swiss Franc pounds to 5 decimal places per contract
British Pound - SY 125,000 British Yen per pound to 3 .005 or 625 yen
Japanese Yen pounds decimal places per contract
Swiss Franc - Japanese Yen ZY 200,000 Swiss Yen per S. franc to 3 .005 or 1,000 yen
francs decimal places per contract
USDX DX 1000 U.S. U.S. dollars to 3 .005 of a U.S. Dollar Index
$ x Index decimal places point or $5.00 per contract.
Last Trading Day One business day prior to last notice day.
Fees Please visit www.theice.com for fees.
Contact U.S. New York 212.748.4096 Chicago 312.214.2016
Europe Dublin +353 (1) 607 4000
ICE Help Desk U.S. 770.738.2101 UK + 44 (0) 20 7488 5100
E-mail [email protected] [email protected]

27
Coming Soon to the ICE Platform
ICE Futures U.S will launch additional currency pair contracts on the ICE electronic
trading platform including the contracts listed below. Today these contracts are
available in floor-based trading. See www.theice.com for floor trading hours.

ICE Futures U.S. Dollar Based Currency Pairs (17)

Contract Symbol Contract Size
Aus. Dollar- U.S. Dollar AU 200,000 A. dollars
U.S. Dollar- Swed. Krona KU 200,000 U.S. dollars
U.S. Dollar- Norw. Krone NS 200,000 U.S. dollars
U.S. Dollar- Swiss Franc YF 200,000 U.S. dollars
U.S. Dollar- British Pound YP 125,000 B. pounds
U.S Dollar- Japanese Yen YY 200,000 U.S. dollars
U.S. Dollar- S. African Rand ZR 100,000 U.S. dollars
U.S. Dollar- New Z Dollar ZX 200,000 N.Z. dollars
Large Euro- U.S. Dollar EU 200,000 Euro
U.S. Dollar – Canadian Dollar YD 200,000 U.S. dollars
U.S. Dollar- Hungarian Forint UF 200,000 U.S. dollars
U.S. Dollar- Czech Koruna UZ 200,000 U.S. dollars
Small U.S. Dollar- Canadian Dollar SV 100,000 U.S. dollars
Small Australian Dollar- U.S. Dollar AA 100,000 A. dollars
Small New Zealand Dollar- U.S. Dollar ZA 100,000 N.Z. dollars
Brazilian Real- U.S. Dollar BX 100,000 Brazilian Reals
Colombian Peso- U.S. Dollar CU 100,000,000 C. Pesos

ICE Futures U.S. Euro Currency Pairs (Cross Rates) (7)

Contract Symbol Contract Size
Euro - Canadian Dollar EP 100,000 Euro
Euro - Norw. Krone OL 100,000 Euro
Euro – Swed Krona RK 100,000 Euro
Euro - Australian Dollar RA 100,000 Euro
Euro-Hungarian Forint HR 100,000 Euro
Euro- Czech Koruna EZ 100,000 Euro
Euro – South African Rand YZ 100,000 Euro

28
ICE Futures U.S. Other Currency Crosses (15)
Contract Symbol Contract Size
Aus. Dollar – N.Z. Dollar AR 200,000 A. dollars
Australian Dollar – Canadian Dollar AS 200,000 A. dollars
Australian Dollar – Jap. Yen YA 200,000 A. dollars
Canadian Dollar – Jap. Yen HY 200,000 C. dollars
Norwegian Krone – Swedish Krona NJ 500,000 Norw. krone
British Pound – Australian Dollar QA 125,000 pounds
British Pound – New Zealand Dollar GN 125,000 pounds
British Pound – Canadian Dollar PC 125,000 pounds
British Pound – Norwegian Krone PK 125,000 pounds
British Pound – South African Rand PZ 125,000 pounds
British Pound – Swedish Krona PS 125,000 pounds
New Zealand Dollar – Japanese Yen ZJ 200,000 N.Z. dollars
Norwegian Krone – Japanese Yen KY 2,000,000 krone
Swedish Krona – Japanese Yen KJ 2,000,000 krona
Small British Pound/ Japanese Yen YS 62,500 pounds

29
 OTC Cleared
Contract Specifications

For All ICE Products:

Fees & Quote Vendor Codes:

Please visit www.theice.com.

Contact info:
For more information on ICE products and services,
please send your request to [email protected].

30
Power — PJM WH Real Time Peak Daily

Contract Description Financial Power – Cash Settled, Peak Power. Financial Swap - Peak, PJM WH
Real Time Daily Power

Hours of Trading 24 x 7 (5.00.01 pm to 5.00 pm EPT) with trades buffered when the
Clearing House is closed.

Contract Size per lot 800 Mwh

Unit of Trading Contract Size will be expressed as “lots” in TRS.

Currency US dollars and cents per MWH

Min Price Fluctuation 0.01

Minimum Tick 0.05 per MWH
Last Trading Day One business day following the Nominal Contract Day (a Wednesday daily
contract will be tradable on Thursday; a Friday daily contract will be tradable on
the following Monday)

Contract Series 38 consecutive days

Fixed Price The traded price or the previous day’s settlement price

Daily Settlement By ICE based on Volume Weighted Trade in settlement period plus consideration
of other cash and derivative markets where necessary

Final Settlement The closing price will be determined by ICE at approximately 4.45 pm EPT.
The final settlement price is the average of the hourly real time LMP’s (locational
marginal prices) on the nominal day. The contract will remain open one
business day following the nominal day to allow for finalization of the LMP’s
by the ISO.
Payment Dates One business day following the Last Trading Day.

Position Limits None

Margin US dollars per lot. For up to date rates contact your Clearing Firm or visit
the LCH.Clearnet website at www.lchclearnet.com.

Commodity Code PDP

Fees Please visit www.theice.com for fees.

Contact Tel UK +44 (0) 20 7488 3782

US +1 312.214.2014
E-mail [email protected]

31
Natural Gas Swap, Fixed for NYMEX LD1

Contract Description Financial Gas – Monthly cash settled, Natural Gas, Henry Hub.

Hours of Trading 24 x 7

Contract Size per lot 2,500 MMBtus

Unit of Trading Contract Size multiplied by the number of days in the month traded.
For example, in a 30-day month, such as November, the unit of trading will be
30 days x 2,500 or 75,000 MMBtus. This will be expressed as 30 “lots” in TRS.
There are 4 possible units of trading, 28, 29, 30, 31 days each multiplied by
2,500 MMBtus.
Currency US dollars and cents

Minimum Price Fluctuation One tenth of a cent ($0.001) per MMBtu

Last Trading Day Close of business three business days prior to the first calendar day of the
contract series.

Fixed Price The traded price or the previous day’s settlement price

Floating Price Daily settlement 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.
Settlement Floating Price: A price in USD per MMBtu day equal to the monthly last
settlement price for natural gas futures as made public by the New York
Mercantile Exchange (NYMEX) for the month of production per ISDA
commodity definitions.
Contract Series A minimum of five calendar years. Between 60 and 71 individual contract
months will be listed at any one time.

Commodity Code H

Fees Please visit www.theice.com for fees.

Contact Tel UK +44 (0) 20 7488 3782

US +1 312.214.2014
E-mail [email protected]

32
Natural Gas Basis Swap: LD1 for Canadian Gas
Price Reporter; Alberta

Contract Description Financial Gas – Monthly cash settled, Natural Gas, Alberta,
Nova Inventory Transfer (AECO)

Hours of Trading 24 x 7

Contract Size per lot 2,500 MMBtus

Unit of Trading Contract Size multiplied by the number of days in the month traded.
For example, in a 30-day month, such as November, the unit of trading will be
30 days x 2,500 or 75,000 MMBtus. This will be expressed as 30 “lots” in TRS.
There are 4 possible units of trading, 28, 29, 30, 31 days each multiplied by
2,500 MMBtus.
Currency US dollars, cents, and tenths of a cent per MMBtu

Minimum Price Fluctuation One hundredth of a cent ($0.0001) per MMBtu

Maximum Price Fluctuation No limits

Last Trading Day Close of business on the second business day of the delivery month

Contract series Up to 72 consecutive calendar months commencing with the next

calendar month.

Fixed Price The traded price or the previous day’s settlement price

Daily Settlement Daily settlement 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 A price in dollars per MMBtu day equal to the Index Price for deliveries into
AECO ‘C’ & N.I.T. One-Month Spot as reported by Canadian Gas Price Reporter
in the ‘Canadian Natural Gas Supply Prices’ table in the first of the month
publication for each month.
Payment Dates Five business days following the Last Trading Day.

Position Limits None

Margin US Dollars per lot. For up to date rates contact your Clearing Firm or visit
the LCH.Clearnet website at www.lchclearnet.com.

Commodity Code AEC

Fees Please visit www.theice.com for fees.

Contact Tel UK +44 (0) 20 7488 3782

US +1 312.214.2014
E-mail [email protected]

33
Natural Gas, Penultimate Henry Hub
(Equity) Options

Contract Description Financial Gas – Cash Settled, Cleared OTC Swap. NG Fin, FP for Penultimate
Henry Hub (Equity) Options.

Hours of Trading 24 x 7 with trades buffered when the Clearing House is closed.

Contract Size per lot 2500 MM Btus

Unit of Trading Contract Size will be expressed as “lots” in TRS.

Currency US $, cents, and tenths of cents per MMBtu.

Minimum Price Fluctuation 0.001

Minimum Tick one tenth of one cent per MMBtu

Last Trading Day Fourth to last business day of the month preceding delivery. One day prior to
final trading day for standard Henry Hub.

Contract Series Up to 48 months, at least three calendar years.

Fixed Price The traded price or the previous day’s settlement price

Daily Settlement The closing price will be determined by ICE at approximately 4.45 pm EPT.

Final Settlement Cash settled to a price in USD per MMBtu dry equal to the penultimate
settlement for the Henry Hub futures as made public by the New York
Merchantile Exchange (NYMEX). In the money options cash settled based on
penultimate settlement price.

Payment Dates Two business days following the Last Trading Day.

Position Limits None

Margin US Dollars per lot. For up to date rates contact your Clearing Firm or visit
the LCH.Clearnet website at www.lchclearnet.com.

Commodity Code PHE

Fees Please visit www.theice.com for fees.

Contact Tel UK +44 (0) 20 7488 3782

US +1 312.214.2014
E-mail [email protected]

34
Additional Cleared OTC Products
Please visit www.theice.com, where additional cleared OTC product specifications
can be found, including:

Natural Gas
(North American Financial) Refined Oil
Alberta 1% NEW FOB Cargo
Centerpoint Crude & Crude Diffs
CIG Rockies Gasoil & Gas Oil Cracks
Chicago Fuel Oil (Cracks & Diffs)
Demarc Jet Diffs
Dominion
EP Permian
Henry Hub Power (US Financial)
Houston Ship Channel PJM AEP/Dayton Hub
HSC ERCOT Houston
Malin ERCOT North
Michcon ERCOT South
NGPL-Midcont Mid Columbia
NGLP Texok MISO Cinergy
NWP Rockies Nepool (ISO New England)
NWP Sumas NP-15
Panhandle NYISO Zone A
PG&E NYISO Zone G
San Juan NYISO Zone J
Socal Palo Verde
TCO PJM Northern Illinois Hub
Tennessee Zone 0 PJM Western Hub
TETCO M-3 SP-15
TETCO-STX
Transco Z6
UK Natural Gas
Union Dawn
Ventura
Waha

35
 ICE Futures Europe
Contract Specifications

For All ICE Products:

Fees & Quote Vendor Codes:

Please visit www.theice.com.

Contact info:
For more information on ICE products and services,
please send your request to [email protected].

36
ICE Brent Futures
The ICE Brent Futures provides a highly flexible hedging instrument and trading
mechanism. It is tailored specifically to meet the oil industry’s need for an
international crude oil futures contract and is an integral part of the Brent pricing
complex, which also includes spot and forward markets. ICE Brent Futures is a
deliverable contract based on EFP delivery with an option to cash settle.

Contract Specifications
Trading Hours London (local time) New York (ET) Chicago (CT)
Open* 01:00 20:00 19:00
Close 23:00 18:00 17:00
*Except Monday morning/Sunday evening when the opening time is 23:00 London (local time),
18:00 New York, 17:00 Chicago.

Unit of Trading 1,000 barrels (42,000 US gallons)

Minimum Price Fluctuation One cent per barrel, equivalent to a tick value of $10.
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations A maximum of 72 consecutive months will be listed. Thereafter, the exchange
will list an additional 6 contracts comprised of June and December contracts for
an additional 3 years. 12 additional contract months will be added each year on
the expiry of the prompt December contract month.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day Trading shall cease at the end of the designated settlement period of the
business day immediately proceeding the 15th day prior to the first day of the
delivery month, if the 15th day is a business day in London. If the 15th day is
not a business day, trading shall cease on the next preceding business day.
Settlement ICE Brent Futures is a deliverable contract based on an EFP delivery with an
option to cash settle against the published settlement price (i.e. the ICE Futures
Brent index price) for the day following the last trading day of the contract. If the
contract is to be subject to the cash settlement procedure, notice must be given
(in accordance with LCH.Clearnet procedures) up to 1 hour after the cessation
of trading.
Contact Tel UK +44 (0) 20 7265 3796 / 3678
US +1 646.733.5000
E-mail [email protected]

37
ICE Brent Options
The ICE Brent Options Contract is based on the underlying futures contract and
if exercised will result in a corresponding futures position. Both contracts are for
American style exercise, allowing the buyer to exercise an option anytime up to
and including expiry day.

Contract Specifications
Trading Hours London (local time) New York (ET) Chicago (CT)
Open* 01:00 20:00 19:00
Close 23:00 18:00 17:00
*Except Monday morning/Sunday evening when the opening time is 23:00 London (local time),
18:00 New York, 17:00 Chicago.

Unit of Trading One ICE Brent Futures contract.

Minimum Price Fluctuation One US Cent per barrel
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations 13 consecutive months plus the four subsequent June/December expires for a
total of 17 listed expires.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day Trading shall cease at the close of business on the third business day prior to
cessation of trading in the underlying ICE Brent Futures contract.
Settlement ICE Brent Options can be exercised into ICE Brent Futures contracts. ICE Futures
Options contracts are of American-style exercise, allowing the buyer to exercise
call and/or put options up to 1700 hours on any business day (except on expiry
day) during the life of the contracts, by giving an exercise notice to the Clearing
House in respect of such options.
On the expiry day the buyer has up to one hour after the cessation of trading to
exercise his options. At that time the Clearing House will automatically exercise
all options that are in the money on behalf of the Member unless instructed
otherwise by the Member.
Contact Tel UK +44 (0) 20 7265 3796 / 3678
Fax US +1 646.733.5000
E-mail [email protected]

38
ICE WTI Futures
The ICE West Texas Intermediate (WTI) Light Sweet Crude Oil Futures Contract
offers participants the opportunity to trade one of the world’s most liquid oil
commodities in an electronic marketplace.
The contract not only brings the benefits of electronic trading a US light sweet
crude maker, but also brings together the world’s three most significant oil
benchmarks on a single exchange: Brent, Middle East Sour Crude and WTI. This
offers a reduction in collateral requirements through the offsetting of margins.

Contract Specifications
Trading Hours London (local time) New York (ET) Chicago (CT)
Open* 01:00 20:00 19:00
Close 23:00 18:00 17:00
*Except Monday morning/Sunday evening when the opening time is 23:00 London (local time),
18:00 New York, 17:00 Chicago.

Unit of Trading 1,000 bbls (42,000 US gallons).

Quotation The contract price is in US dollars and cents per US gallon
Minimum Price Fluctuation One cent per barrel, equivalent to a tick value of $10.
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations A maximum of 72 consecutive months will be listed. Thereafter, the exchange
will list an additional 6 contracts comprised of June and December contracts
for an additional 3 years. 12 additional contracts will be added each year on the
expiry of the prompt December contract month. A US business day is a day on
which Nynex is open for business.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day Trading shall cease at the close of business on the 4th US business day prior
to the 25th calendar day of the month preceding the contract month. If the 25th
calendar day of the month is not a US business day the final trading day shall be
the trading day which is the 4th US business day preceding the 25th calendar
day of the month preceding the contract month. (A US business day is a day on
which NYMEX is open for business.)
Settlement The West Texas Intermediate Light Sweet Crude Oil futures contract is cash
settled against the prevailing market price for US light sweet crude. It is a
price in USD per barrel equal to the penultimate settlement price for WTI crude
futures as made public by NYMEX fir the month of production per 2005 ISDA
Commodity Definitions.
Contact Tel UK +44 (0) 20 7265 3796 / 3678
US +1 646.733.5000
E-mail [email protected]

39
West Texas Intermediate (WTI) Options
The ICE West Texas Intermediate (WTI) Light Sweet Crude Oil Options Contract
offers participants the opportunity to trade options on one of the world’s most liquid
oil commodities in an electronic marketplace.

Contract Specifications
Trading Hours London (local time) New York (ET) Chicago (CT)
Open* 01:00 20:00 19:00
Close 23:00 18:00 17:00
*Except Monday morning/Sunday evening when the opening time is 23:00 London (local time),
18:00 New York, 17:00 Chicago.

Unit of Trading One ICE WTI Futures Contract.

Minimum Price Fluctuation One US cent per barrel
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations 13 consecutive months plus the four subsequent June/December expires for a
total of 17 listed expires.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day Trading shall cease at the end of the designated settlement period for the
underlying future on the second trading day prior to cessation of trading in the
underlying ICE WTI Futures contract.
Settlement ICE WTI Options can be exercised into ICE WTI Future Contracts. ICE Futures
Europe Options contracts are of American-style exercise, allowing the buyer to
exercise call and/or put options up to 17:00 hours on any business day (except
on expiry day) during the life of the contracts by giving an exercise notice to the
Clearing House in respect of such options.
On the expiry day the buyer has up to 3 hours after the cessation of trading to
exercise his options. At that time the Clearing House will automatically exercise
all options that are in the money on behalf of the Member unless instructed
otherwise by the Member.
Contact Tel UK +44 (0) 20 7265 3796 / 3678
US +1 646.733.5000
E-mail [email protected]

40
Middle East Sour Crude (MESC) Futures
The ICE Middle East Sour Crude (MESC) Crude Oil Futures Contract offers
participants the opportunity to trade one of the world’s most liquid oil commodities
in an electronic marketplace.
The contract not only brings the benefits of electronic trading to a Middle East sour
crude maker, but also brings together three of the world’s key oil benchmarks on
a single exchange: Brent, MESC and West Texas Intermediate (WTI). This offers a
reduction in collateral requirements through the offsetting
of margins.

Contract Specifications
Trading Hours London (local time) New York (ET) Singapore
Open* 01:00 20:00 08:00
Close 23:00 18:00 06:00 (next day)
*Except Monday morning/Sunday evening when the opening time is 23:00 London (local time),
18:00 New York, 06:00 Singapore.

Unit of Trading One or more lots of 1,000 barrels.

Minimum Price Fluctuation One cent per barrel, eqivalent to a tick value of $10.
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations 37 consecutive months will be listed Calendar Year and Quarter Contracts will
also be listed for the entirety of the forward curve.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day Trading shall cease at 16:30 hours local Singapore time (08:30 hours
GMT/09:30 hours BST) on the last trading day of the second month preceding
the contract month (i.e. the July contract month will expire on the last trading
day of May). If that day is a public holiday in Singapore (or for any other reason
determined by the Exchange), trading shall cease on the next preceding trading
day, for which a cash settlement price is available (or any other day determined
by the Exchange at its sole discretion).
Settlement ICE Middle East Sour Crude Futures is a cash settled Contract. It cash settles
against the mid-point of the Dubai bid/offer prices for the relevant contact
month assessed at the Singapore market close at 16:30 Singapore local time
and reported under the heading “Key benchmarks ($/bbl)” in the issue of Platts
Crude Oil Marketwire on the last day of trading of the relevant contract month.
(Please note that the mid-point will not be rounded and therefore may be quoted
to three decimal places.)
Contact Tel UK +44 (0) 20 7265 3796 / 3678
US +1 646.733.5000
Singapore +65 6866 3669
E-mail [email protected]

41
ICE Gasoil Futures
The ICE Gasoil Futures Contract is designed to provide users with an effective
hedging instrument and trading opportunities. Its underlying physical market is
heating oil barges delivered in ARA (Antwerp, Rotterdam, Amsterdam). It is used as
the pricing reference for all distillate trading in Europe and beyond.

Contract Specifications
Trading Hours London (local time) New York (ET) Chicago (CT)
Open* 01:00 20:00 19:00
Close 23:00 18:00 17:00
*Except Monday morning/Sunday evening when the opening time is 23:00 London (local time),
18:00 New York, 17:00 Chicago.

Unit of Trading 100 metric tonnes of gasoil, with delivery by volume.

Quotation The contract price is in US dollars and cents per tonne (on an EU import
duty paid basis).
Minimum Price Fluctuation 25 cents per tonne, equivalent to a tick value of $25.
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations Up to 36 consecutive months forward and then quarterly out to 48 months, then
half yearly out to 60 months.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day Trading shall cease at 12:00 hours, 2 business days prior to the 14th calendar
day of the delivery.
Settlement Physical delivery within the ARA area between 16th and last calendar day of the
delivery month.
Contact Tel UK +44 (0) 20 7265 3796 / 3678
US +1 646.733.5000
E-mail [email protected]

42
ICE Gasoil Options
The ICE Gasoil Options Contract is based on the underlying futures contract and if
exercised will result in a corresponding futures position. Contracts are for American
style exercise, allowing the buyer to exercise an option anytime up to
and including expiry day.

Contract Specifications
Trading Hours London (local time) New York (ET) Chicago (CT)
Open* 01:00 20:00 19:00
Close 23:00 18:00 17:00
*Except Monday morning/Sunday evening when the opening time is 23:00 London (local time),
18:00 New York, 17:00 Chicago.

Unit of Trading One ICE Gasoil Futures contract

Quotation The contract price is in US dollars and cents per tonne
Minimum Price Fluctuation 5 US cents per tonne.
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations 13 consecutive months plus the four subsequent June/December expires for a
total of 17 listed expires.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day Trading shall cease at the end of the designated settlement period of ICE Gasoil
Futures on the fifth business day prior to cessation of trading in the underlying
ICE Gasoil Futures contract.
Settlement ICE Gasoil Options can be exercised into ICE Brent Gasoil contracts. ICE Futures
Europe Options contracts are of American-style exercise, allowing the buyer to
exercise call and/or put options up to 17:00 hours on any business day (except
on expirary day) during the life of the contracts, by giving an exercise notice to
the Clearing House in respect of such options.
On expiry day the buyer has up to one hour after the cessation of trading to
exercise his options. At that time the Clearing Houe will automatically exercise
all options that are in the money on behalf of the Member unless instructed
otherwise by the Member.
Contact Tel UK +44 (0) 20 7265 3796 / 3678
US +1 646.733.5000
E-mail [email protected]

43
ICE Heating Oil Futures
The ICE Heating Oil Futures Contract is cash settled and designed to appeal to
both physical and financial traders. In addition, offsetting of margins with other ICE
Futures Oil Contracts ensures that a Member’s collateral is used effectively when
trading ICE Futures Oil Contracts.

Contract Specifications
Trading Hours London (local time) New York (ET) Chicago (CT)
Open* 01:00 20:00 19:00
Close 23:00 18:00 17:00
*Except Monday morning/Sunday evening when the opening time is 23:00 London (local time),
18:00 New York, 17:00 Chicago.

Unit of Trading 42,000 US gallons (1,000 bbls).

Quotation The contract price is in US dollars and cents per US gallon.
Minimum Price Fluctuation 0.0001 US dollars per US gallon (0.01 cents/US gallon), equivalent to a tick
value of $4.20.
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations Thirty six consecutive months will be listed and a maximum of 6 quarter strips
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
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 delivery month where
US business day is a day on which NYMEX is opened for business.
Settlement The Heating Oil Futures Contract is cash settled against the prevailing market
price for Heating Oil in New York Harbour. The cash settlement price in USD
(cents) per US gallon is equal to the penultimate 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.
Contact Tel UK +44 (0) 20 7265 3796 / 3678
US +1 646.733.5000
E-mail [email protected]

44
ICE RBOB Futures
The ICE RBOB Gasoline Futures Contract is cash settled, and designed to appeal
to both physical and financial traders. In addition offsetting of margins with other
ICE Futures Oil Contracts ensures that a Member’s collateral is used effectively
when trading ICE Futures Oil Contracts.

Contract Specifications
Trading Hours London (local time) New York (ET) Chicago (CT)
Open* 01:00 20:00 19:00
Close 23:00 18:00 17:00
*Except Monday morning/Sunday evening when the opening time is 23:00 London (local time),
18:00 New York, 17:00 Chicago.

Unit of Trading 42,000 US gallons (1,000 bbls).

Quotation The contract price is in US dollars and cents per US gallon.
Minimum Price Fluctuation 0.0001 US dollars per US gallon (0.01 cents/US gallon), equivalent to a tick
value of $4.20.
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations Twelve consecutive months and a maximum of 4 quarter strips
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
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 delivery month where
US business day is a day on which NYMEX is opened for business.
Settlement The RBOB Gasoline Futures Contract is cash settled against the prevailing
market price for RBOB Gasoline in New York Harbour. The cash settlement price
is an amount equal to the settlement price on the penultimate day of trading of
the NYMEX Mew York Harbor Gasoline Blendstock (RBOB) Futures Contract
Contact Tel UK +44 (0) 20 7265 3796 / 3678
US +1 646.733.5000
E-mail [email protected]

45
ICE ECX CFI (Emissions) Futures
The ICE ECX CFI Futures Contract is a deliverable contract where each Clearing
Member with a position open at cessation of trading for a contract month is obliged
to make or take delivery of emission allowances to or from National Registries in
accordance with the ICE Futures Europe Regulations.

Contract Specifications
Trading Hours 07:00 - 17:00 hours (London time)
Unit of Trading 1000 Emission Allowances.
Minimum Price Fluctuation € 0.01 per tonne
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations Consecutive contract months to March 2008 and then December contract
months only from December 2008 to December 2012.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day Last Monday of the contract month. Where this falls on a non-business day in
the 4 days immediately following the last Monday, the last trading day shall be
the penultimate Monday of the delivery month. Where the penultimate Monday
of the delivery month falls on a non-business day, or there is a non-business
day in the 4 days immediately following the penultimate Monday, the last
trading day shall be the antepenultimate Monday of the delivery month.
Settlement The Contracts are physically deliverable by the transfer of Emission Allowances
from the Person Holding Account of the Selling Clearing Member at a Registry
to the Person Holding Account of the Clearing House at a Registry and from the
Person Holding Account of the Clearing House at that Registry to the Person
Holding Account of the Buying Clearing Member at a Registry. Delivery is
between Clearing Members and Clearing House during a Delivery Period. The
Delivery Period is the period beginning at 19:00 hours on the business day
following the last trading day and ending at 19:30 hours on the third business
day following that last trading day.
Contact Tel UK +44 (0) 20 7265 3796 / 3678 / 3645 / 3646
US +1 646.733.5000
E-mail [email protected]

46
ICE ECX CFI Options
The ICE ECX CFI Options Contract is an option on the ECX CFI Futures Contract.
At expiry, one lot of ECX CFI Options will excercise into one lot of ECX CFI Futures.
ECX CFI Options are European style such that it is automatically exercised at expiry
in the money.

Contract Specifications
Trading Hours (Local Time) 07:00-17:00 London Time
Unit of Trading One ICE ECX CFI Futures Contract.
Minimum Price Fluctuation € 0.01
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations Front two contract months plus next five December contract months
(for example, January 2008, February 2008, December 2008, December 2009
and December 2010). Where a December contract month is one of the two front
months, only a further two December contract months will be listed. After the
expiry of March 2008 contract month, only next 5 December contract Months
will be listed.
Position Limits There are no Iimits.
Fees Please visit www.theice.com for fees.
Last Trading Day Third business day before the expiry of the relevant contract month of the ICE
ECX CFI Futures Contract.
Settlement ICE ECX CFI Options will be exercised into ICE ECX CFI Futures contracts and
are of European-style exercise, such that at expiry automatic exercise will occur
of options which are one or more ticks in the money (at-the-money and out-of
the-money options will expire).
Contact Tel UK +44 (0) 20 7265 3796 / 3678 / 3645 / 3646
US +1 646.733.5000
E-mail [email protected]

47
ICE UK Natural Gas Futures
The ICE Natural Gas Futures Contract enables trading, risk management, hedging
and physical delivery in a growing energy market. The contract is deliverable
unless positions are closed out prior to expiry. Physical delivery takes place within
the UK natural gas grid at the National Balancing Point (NBP). This notional point is
where National Grid effects a balance every day between the input and withdrawal
of gas taking place on the UK National Transmission System (NTS).

Contract Specifications
Trading Hours 07:00 – 17:00 (London time)
Unit of Trading 1000 therms of natural gas per day during the delivery period with delivery in
kWh. Traded in multiples of 5 contracts of 1000 therms
Quotation The contract price is in sterling and pence per therm.
Minimum Price Fluctuation 0.01p per therm
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations 10-12 consecutive months, 11-12 quarters and 9 seasons.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day Monthly contracts cease trading at 17:00 hours two business days prior to the
first calendar day of the delivery month. Quarter and season strips will cease to
be available when the first month in that quarter/season ceases trading.
Settlement Physical delivery through the transfer of rights to natural gas at the National
Balancing Point within the UK National Transmission System.
Contact Tel UK +44 (0) 20 7265 3646
US +1 646.733.5000
E-mail [email protected]

48
ICE UK Base & Peak Electricity Futures
ICE’s UK Electricity Futures Contract is a deliverable contract offering all
the benefits of exchange transparency and clearing, in addition to having no
requirement to be a Balancing and Settlement Code party.

Contract Specifications
Trading Hours 07:00 - 17:00 (London time).
Unit of Trading One or more lots of Electricity of 1MW per lot. Energy content for each day is 24
MWh (23/25MWh on GMT/BST switch days)
Quotation The contract price is in sterling and pence per MWh
Minimum Price Fluctuation 1 pence per MWh
Maximum Price Fluctuation There are no limits.
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations EFA ‘blocks’ have an anchor point of 31/12/01 starting with 4,4,5 week cycles.
Month contracts are based on the number of days in an EFA month, namely
28 days in January, February, April, May, July, August, October and November;
35 days in March, June, September, December. Exceptions are any December
where the numbering of weeks under the EFA Calendar results in a sixth week for
the month. A Quarter is made up of two 28 days month and a 35 day month. The
exception is December 2004 and any December thereafter where the numbering
of weeks under the EFA Calendar results in a sixth week for the month. A Season
consists of 6 months commencing April and October.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day Trading shall cease at the close of business on the 2nd business day prior to the
first EFA calendar day of the delivery period
Settlement Delivery is affected by the submission (and acceptance with no subsequent
rejection) of Energy Contract Volume Notifications by an Energy Contract
Volume Notifications Agent on behalf of the two delivery parties.
Contact Tel UK +44 (0) 20 7265 3646
US +1 646.733.5000
E-mail [email protected]

49
ICE Richard’s Bay Coal Futures
Coal is a fundamental part of the energy complex and it is a vital fuel for the power
generation industry. It is against this backdrop that coal trading has greatly expand-
ed in recent years. The ICE Richard’s Bay Coal Futures Contracts are financially
settled based on coal loading at Richard’s Bay in South Africa.

Contract Specifications
Trading Hours 07:00 -17:00 (London time)
Unit of Trading 1,000 metric tones. Traded in multiples of 5 contracts
Quotation The contract price is in US dollars and cents per tonne
Minimum Price Fluctuation $0.05 per tonne.
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations 6 month contracts, 6 quarter strips, 5 season strips and 2 calendar year strips.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day The contract month ceases trading at the close of business on the last Friday of
the contract month. In the event of a public holiday on such Friday trading shall
cease at the close of business on the preceding business day.
Settlement ICE Richard’s Bay Coal Futures is cash-settled at a price equal to the API 4
Monthly Index as published in Argus/McColsky’s Coal Price Index Report
Contact Tel UK +44 (0) 20 7265 3646
US +1 646.733.5000
E-mail [email protected]

50
ICE Rotterdam Coal Futures
Coal is a fundamental part of the energy complex and it is a vital fuel for the power
generation industry. It is against this backdrop that coal trading has greatly
expanded in recent years. The ICE Rotterdam Coal Futures contracts are financially
settled based on delivery to Rotterdam in the Netherlands.

Contract Specifications
Trading Hours 07:00 - 17:00 (London time).
Unit of Trading 1,000 metric tonnes. Traded in multiples of 5 contracts.
Minimum Price Fluctuation $0.05 cents per tonne.
Maximum Daily There are no limits.
Price Fluctuation
Clearing The Clearing House guarantees financial performance of all ICE Futures
contracts registered with it by its clearing members. All ICE Futures Member
companies are either members of the Clearing House or have a clearing
agreement with a Member who is a member of the Clearing House.
Contract Expirations 6 month contracts, 6 quarter strips, 5 season strips and 2 calendar year strips.
Position Limits There are no limits.
Fees Please visit www.theice.com for fees.
Last Trading Day The contract month ceases trading at the close of business in the last Friday of
the contract month. In the event of a public holiday on such Friday trading shall
cease at the close of business on the preceding business day.
Settlement ICE Rotterdam Coal Futures is cash-settled at a price equal to the API 2 Monthly
Index as published in Argus/McColsky’s Coal Price Index Report
Contact Tel UK +44 (0) 20 7265 3646
US +1 646.733.5000
E-mail [email protected]

51
Appendix

ICE Futures U.S. ICE Futures Europe

Clearing firms include: Clearing firms include:
ADM Investor Services, Inc. ADM Investor Services International Ltd
AG Edwards & Sons Inc. Advantage Futures LLC
Alaron Trading Corporation Arcadia Petroleum Ltd
Banc of America Securities, Inc. Bache Commodities Ltd
Bear Stearns Securities Corporation Banc of America Securities Ltd
BNP Paribas Commodity Futures, Inc. Banco Santander Central Hispano SA
Calyon Financial, Inc.** Barclays Capital
Citigroup Global Markets, Inc. Bear Stearns International Ltd
Credit Suisse Securities (USA) LLC BHF Bank AG
Deutsche Bank Securities, Inc. BNP Paribas Commodity Futures Ltd
Dunavant Commodity Corporation* BP Oil International Ltd
F.C. Stone, LLC Calyon Financial SNC
Fimat USA LLC Citgroup Global Markets Ltd
Goldman Sachs & Company Credit Suisse Securities (Europe) Ltd
JPMorgan Futures, Inc. Deutsche Bank AG
Lehman Brothers, Incorporated Dresdner Bank AG
MF Global Inc. Fimat International Banque SA (UK Branch)
MBF Clearing Corporation Fortis Bank Global Clearing NV (London branch)
Merrill Lynch, Pierce, Fenner & Smith, Inc GH Financials Ltd
Morgan Stanley & Company Glencore Commodities Ltd
Prudential Bache Commodities, LLC Goldman Sachs International
Rand Financial Services, Inc. HSBC Bank Plc
RBC Capital Markets Corporation JPMorgan Securities Ltd
R.J. O’Brien & Associates, LLC Jump Trading LLC
Rosenthal Collins Group, LLC Lehman Brothers International (Europe)
Sterling Commodities Corporation MF Global UK Ltd
SMW Trading Company, Inc. Marex Financial Ltd
Term Commodities, Incorporated** MBF Clearing Corp
Triland USA Inc.** Merrill Lynch International
UBS Securities, LLC Mizuho Securities USA Inc
Morgan Stanley & Co International Ltd
Natixis Commodity Markets Ltd
Penson GHCO
Phibro Futures & Metals Ltd
Rand Financial Services Inc
RJ O’Brien & Associates
Rosenthal Collins Group LLC
Royal Bank of Canada Europe
SEB Futures (Div of Skandi Enskilda Bk)
Shell International Trading & Shipping Co Ltd
Sucden (U.K.) Ltd
The Royal Bank of Scotland
TRX Futures Ltd
UBS Clearing & Executions Services Ltd
* Cotton and OJ only UBS Limited
** Excluding stock indexes Futures &
Options Markets Clearing Firms

52
Appendix (continued)

WCE Clearing Corporation ICE OTC

Clearing firms include: Clearing firms include:
ADM Agri-Industries Company ADM Investor Services
Alfred C. Toepfer (Can-BMO Nesbitt Burns Inc.) Advantage Futures
CIBC World Markets Inc. Bache Commodities Ltd
Fimat Canada Inc. Bank of America
JPMorgan Securities Canada Inc. Barclays Capital
James Richardson International Limited Bear Stearns
Louis Dreyfus Canada Ltd BNP Paribas
MF Global Canada Co. MF Global Canada CIE Calyon Financial
RBC Dominion Securities Inc. Citigroup Global Markets
Scotia Capital Inc./Scotia Capitaux Inc. Credit Suisse
Saskatchewan Wheat Pool Inc. dba Vittera Deutsche Bank
Fimat
Fortis
Goldman Sachs
HSBC
JPMorgan
Lehman Brothers
MF Global
Marex Financial
Merrill Lynch
Mizuho Securities
Penson GHCO
RJ O’Brien
Rosenthal Collins Group
Royal Bank of Canada
UBS

53
The information contained in this product guide has been compiled for the
convenience of the user and is furnished without responsibility for accuracy and is
accepted by the user on the condition that errors or omissions shall not be made
the basis for any claim, demand or cause for action.

OTC PARTICIPATION
To be eligible for OTC trading access on the ICE electronic trading platform, you must either (1) be an
eligible contract participant AND an eligible commercial entity (“ECE”), as these terms are defined in the
U.S. Commodity Exchange Act (“CEA”), or (2) qualify under the Commodity Futures Trading Commission
orders expanding the definition of ECE for U.S. floor brokers and floor traders, or U.K. based members of
ICE Futures Europe.

ICE FUTURES EUROPE MEMBERSHIP

To trade futures on ICE Futures Europe, you must be a member of ICE Futures Europe or a customer of a
member of ICE Futures Europe. Members must undergo an initial screening process and will be subjected
to Exchange regulations. ICE Futures Europe is a Recognized Investment Exchange (RIE) supervised by the
Financial Services Authority of the United Kingdom.

ICE FUTURES U.S., INC. MEMBERSHIP

To trade futures on ICE Futures U.S., Inc., you must be a member of ICE Futures U.S. or a customer of a
member of ICE Futures U.S. ICE Futures U.S. (formerly known as NYBOT) is a designated contract market
pursuant to the Commodity Exchange Act, as amended, and, as such, is regulated by the Commodity Futures
Trading Commission.

WINNIPEG COMMODITY EXCHANGE INC. PARTICIPATION

To trade futures and options on Winnipeg Commodity Exchange Inc.(WCE), you must be a participant of WCE
or a customer of a participant of WCE. WCE has been recognized as a commodity futures exchange, and WCE
Clearing Corporation has been recognized as a clearinghouse by The Manitoba Securities Commission under
The Commodity Futures Act (Manitoba).

IntercontinentalExchange is a registered trademark of IntercontinentalExchange, Inc., registered in the United

States and the European Union.

ICE, ICE Block, ICE Data and ICE Futures are Registered Trademarks of IntercontinentalExchange, Inc.,
registered in the United States, the European Union and Singapore.

Trade the World and US Dollar Index, are Registered Trademarks of IntercontinentalExchange, Inc., registered
in the United States

Coffee “C”, Cotton No. 2, Sugar No. 11, Sugar No. 14, are all Registered Trademarks of ICE Futures U.S., Inc.,
registered in Germany, Japan, and the United Kingdom

ICE iMpact, ICE Futures Europe, ICE Futures U.S., ICE Clear, ICE Clear U.S., ICE Clear Europe, ICE eConfirm,
ICE Education, ICE Markets, ICE OTC, ICE Services, Sweet and Sour Spreads, ICE Brent Crude Futures, ICE
Brent Crude Options, ICE WTI Crude Futures, ICE WTI Index, ICE WTI Weighted Average and ICE WTIWave
are all trademarks of IntercontinentalExchange, Inc.

© 2007 IntercontinentalExchange, Inc. All rights reserved.

ICE Corporate ICE HELP DESK
Headquarters
IntercontinentalExchange, Inc. North America
2100 RiverEdge Parkway +1 770 738 2101
Suite 500
Atlanta, GA 30328 Europe & Asia
+1 770 857 4700 +44 (0)20 7488 5100

[email protected]

ICE FUTURES EUROPE ICE FUTURES U.S., INC. WINNIPEG COMMODITY

International House One North End Avenue EXCHANGE INC.
1 St Katharine’s Way New York, NY 10282 Suite 400
London E1W 1UY +1 212 748 4000 Commodity
+44 (0)20 7481 0643 Exchange Tower
360 Main Street
Winnipeg, Manitoba,
Canada R3C 3Z4
+1 204 925 5000

CALGARY HOUSTON
+1 403 508 1300 +1 713 890 1200

CHATHAM ENERGY LONDON OTC

+1 212 684 9540 +44 (0)20 7481 0643

CHICAGO NEW YORK

+1 312 214 2000 +1 646 733 5000

DUBLIN SINGAPORE
+353 (1) 607 4000 +65 6866 3669 theice.com