No-Action CFTC staff issues time limited no-action relief to Shorcan Energy Brokers Inc. and its associated persons for introducing broker and associated person registration.

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CFTC Staff Letters (2008-present) › No-Action CFTC staff issues time limited no-action relief to Shorcan Energy Brokers Inc. and its associated persons for introducing broker and associated person registration.

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Summary: No-Action CFTC staff issues time limited no-action relief to Shorcan Energy Brokers Inc. and its associated persons for introducing broker and associated person registration.

Division of Swap Dealer and

Intermediary Oversight

U.S. COMMODITY FUTURES TRADING COMMISSION

Three Lafayette Centre

1155 21st Street, NW, Washington, DC 20581

Telephone: (202) 418-5000

Matthew B. Kulkin

Director

CFTC Letter No. 18-02

No-Action

February 15, 2018

Division of Swap Dealer and Intermediary Oversight

Re:

Time Limited No Action Position on Introducing Broker and Associ-

ated Person Registration

Ladies and Gentlemen:

This letter is in response to a request for a no-action position received by the Division of

Swap Dealer and Intermediary Oversight (“DSIO”) of the Commodity Futures Trading

Commission (“Commission”) from Intercontinental Exchange, Inc. (“ICE”) on behalf

of its wholly-owned subsidiary, Shorcan Energy Brokers Inc. (“Shorcan”),1 from com-

pliance with certain Commission registration requirements. Specifically, ICE asked that

DSIO provide temporary relief to Shorcan from the requirements that a person who

comes within the definition of an introducing broker (“IB”)2 or an associated person

(“AP”)3 of an IB must be registered with the Commission before engaging in business as

1 DSIO understands based on representations from ICE that:

Shorcan is incorporated in Ontario, Canada and based in Alberta, Canada;

Shorcan is not currently registered, nor required to be registered, in the United States;

Shorcan currently relies on a registration exemption to intermediate trades in Canada; and

As a result of the plans for the Transitioning Contracts (discussed below), Shorcan is working with the

Alberta Securities Commission, the firm’s principal regulator in Canada, to obtain interim relief or ac-

commodation until such time as Shorcan is appropriately registered as a dealer under Canadian secu-

rities laws

tly relies on a registration exemption to intermediate trades in Canada; and

As a result of the plans for the Transitioning Contracts (discussed below), Shorcan is working with the

Alberta Securities Commission, the firm’s principal regulator in Canada, to obtain interim relief or ac-

commodation until such time as Shorcan is appropriately registered as a dealer under Canadian secu-

rities laws.

2 For the definition of IB, see Section 1a(31) of the Commodity Exchange Act (“CEA”) and Commission

regulation 1.3(mm). 7 U.S.C. 1a(31) and 17 CFR 1.3(mm). The Commission’s regulations are found in

Chapter 17 of the Code of Federal Regulations, 17 CFR Part 1 et seq.

3 An “associated person” is any natural person who is associated in certain capacities with an IB or other

specified intermediaries. 17 CFR 1.3(aa).

Shorcan: Time Limited Registration No-Action Position

Page 2

such.4 This request is made in connection with Shorcan’s involvement with the planned

transition by ICE on February 19, 2018 (the “Transition Date”) of certain ICE North

American Oil and ICE Financial Natural Gas Liquids contracts (the “Transitioning

Contracts”) currently trading on ICE Futures Europe to instead begin trading on ICE

Futures U.S., a designated contract market registered with the Commission.5

In connection with the Transitioning Contracts, ICE has represented to DSIO that if the

requested relief is not granted there could be detrimental impacts to Shorcan, its cus-

tomers and to the markets as a whole

(the “Transitioning

Contracts”) currently trading on ICE Futures Europe to instead begin trading on ICE

Futures U.S., a designated contract market registered with the Commission.5

In connection with the Transitioning Contracts, ICE has represented to DSIO that if the

requested relief is not granted there could be detrimental impacts to Shorcan, its cus-

tomers and to the markets as a whole. Specifically, that (a) Shorcan will incur business

disruptions and could incur the irreparable loss of its customers; (b) Shorcan’s custom-

ers will be denied access to the markets unless they establish new broker relationships

(which would require adequate lead time to set up the necessary relationships, contrac-

tual agreements and operational processes); and (c) the markets as a whole will be nega-

tively impacted by the loss of an intermediary and potentially the loss of transactions

currently intermediated through Shorcan.

By this letter, DSIO is providing temporary registration no-action relief to Shorcan and

its APs (collectively, the “Applicants”) where such persons are required to register with

the Commission solely by virtue of their involvement with the transition of the Transi-

tioning Contracts as described above. This relief is subject to compliance with certain

conditions and will terminate as detailed below. The purpose of this temporary no-

action position is to provide the Applicants with sufficient time for the completion of the

registration process as applicable to them

ith

the Commission solely by virtue of their involvement with the transition of the Transi-

tioning Contracts as described above. This relief is subject to compliance with certain

conditions and will terminate as detailed below. The purpose of this temporary no-

action position is to provide the Applicants with sufficient time for the completion of the

registration process as applicable to them. Because registration is not effective instanta-

neously with the submission of a registration application, the temporary no-action posi-

tion taken in this letter will help to avoid business interruptions with respect to the

Transitioning Contracts by providing relief to those Applicants who are unable to be-

come registered by the Transition Date.6 By issuing this letter, DSIO intends to provide

assurance that, as long as an Applicant files an application for registration on or before

the Transition Date, and complies with the other conditions set forth below, engaging in

activities relating to the Transitioning Contacts requiring registration as an IB or an AP

of an IB with the Commission before the Applicant has been registered with the Com-

mission will not, in and of itself, result in DSIO recommending that the Commission

commence an enforcement action against the Applicant.

4 For IB registration requirements, see CEA Section 4d(g) and Commission regulation 3.4(a). 7 U.S.C.

6d(g) and 17 CFR 3.4(a). For AP registration requirements, see CEA Section 4k and Commission regula-

tions 3.4(a) and 3.12(a). 7 U.S.C. 6k and 17 CFR 3.4(a) and 3.12(a).

5 A list of the Transitioning Contracts is in Annex A to this letter.

6 In this regard, DSIO is mindful of the need to strike an appropriate balance between the regulatory ob-

jectives of registering persons intermediating transactions subject to the jurisdiction of the Commission

and providing those persons with sufficient time to comply with their new regulatory requirements.

3.12(a).

5 A list of the Transitioning Contracts is in Annex A to this letter.

6 In this regard, DSIO is mindful of the need to strike an appropriate balance between the regulatory ob-

jectives of registering persons intermediating transactions subject to the jurisdiction of the Commission

and providing those persons with sufficient time to comply with their new regulatory requirements.

Shorcan: Time Limited Registration No-Action Position

Page 3

Regulatory Background

The CEA and the regulations of the Commission issued thereunder require that a person

who comes within the definition of an IB must be registered with the Commission prior

to engaging in business as such.7 Additionally, persons who come within the definition

of the term AP of an IB must be registered with the Commission before engaging in

business as such.8

The National Futures Association (“NFA”) has been delegated authority by the Com-

mission to perform the full range of registration functions with regard to applicants for

and persons registered as an IB or an AP of an IB.9

II.

DSIO No-Action Position

Based on the foregoing, DSIO believes that a time limited no-action position is warrant-

ed. Accordingly, during the period from and including the Transition Date to and ex-

cluding August 19, 2018 (the “No-Action End Date”), DSIO will not recommend that

the Commission commence an enforcement action against an Applicant for failure to be

registered with the Commission as an IB or an AP of an IB, as applicable, where the re-

quirement to be registered as such arises solely from the Applicant being involved with

the Transitioning Contracts, provided:

to and ex-

cluding August 19, 2018 (the “No-Action End Date”), DSIO will not recommend that

the Commission commence an enforcement action against an Applicant for failure to be

registered with the Commission as an IB or an AP of an IB, as applicable, where the re-

quirement to be registered as such arises solely from the Applicant being involved with

the Transitioning Contracts, provided:

In the case of Shorcan, (a) on or before the Transition Date, Shorcan files with

NFA a registration application sufficient for its registration as an IB to be desig-

nated by NFA to be in “pending” status; and (b) on or before March 19, 2018,

Shorcan files with NFA a Form 1-FR-IB or guarantee agreement, in accordance

with the requirements of Commission regulation 1.10(a)(2)(ii);10

In the case of an AP of Shorcan, on or before the date the Applicant engages in

activity requiring registration as an AP, he or she files with NFA a registration

7 See n.4, supra. and Part 3 of the Commission’s regulations, which concern the registration of IBs and

other intermediaries under the CEA.

8 Id.

9 See, e.g., 48 Fed. Reg. 35158 (Aug. 3, 1983), whereby the Commission delegated to NFA the authority to

10 17 CFR 1.10(a)(2)(ii). DSIO notes that this temporary no-action position applies to the requirement in

Commission regulation 1.10(a)(2)(ii) generally applicable to IBs to file a Form 1-FR-IB or guarantee

agreement concurrently with the filing of its registration application.

eg. 35158 (Aug. 3, 1983), whereby the Commission delegated to NFA the authority to

10 17 CFR 1.10(a)(2)(ii). DSIO notes that this temporary no-action position applies to the requirement in

Commission regulation 1.10(a)(2)(ii) generally applicable to IBs to file a Form 1-FR-IB or guarantee

agreement concurrently with the filing of its registration application.

Shorcan: Time Limited Registration No-Action Position

Page 4

application sufficient for his or her registration as an AP of Shorcan to be desig-

nated by NFA to be in “pending” status;11 and

Subject to the foregoing and the relief provided by this letter, on and after the

Transition Date and until the expiration of such relief, the Applicant is subject to

and makes a good faith effort to comply with the CEA and the Commission’s

regulations applicable to its activities as an IB or AP of an IB, as applicable, as if

the Applicant was in fact registered in such capacity.

This registration no-action position will terminate with respect to an Applicant on the

earliest of: (1) the date on which NFA provides notice in accordance with Commission

regulation 3.2(c)12 that such Applicant is registered as an IB or AP of an IB, as the case

may be; (2) the date five days after service by NFA of a notice on such Applicant pursu-

ant to NFA Registration Rule 50413 that the person may be disqualified from registration

under CEA Section 8a(2) or 8a(3);14 and (3) the N0-Action End Date.

This letter, and the positions taken herein, represent the views of DSIO only, and do not

necessarily represent the position or view of the Commission or of any other office or

division of the Commission. The relief issued by this letter does not excuse persons rely-

ing on it from compliance with any other applicable requirements contained in the CEA

or in Commission regulations. Further, this letter, and the positions taken herein, is

based upon the representations made to DSIO

necessarily represent the position or view of the Commission or of any other office or

division of the Commission. The relief issued by this letter does not excuse persons rely-

ing on it from compliance with any other applicable requirements contained in the CEA

or in Commission regulations. Further, this letter, and the positions taken herein, is

based upon the representations made to DSIO. Any different, changed, or omitted mate-

rial facts or circumstances might render this no-action position void.

11 NFA Registration Rule 401 (Qualification Testing Requirement) generally requires that each person ap-

plying to be registered as an AP must take and pass the National Commodity Futures Examination. NFA’s

rules may be accessed on NFA’s Web site, www.nfa.futures.org.

12 17 CFR 3.2(c).

13 See Part 500 of NFA’s registration rules, “Proceedings to Deny, Condition, Suspend and Revoke Regis-

tration.”

14 7 U.S.C. 12a(2) and (3). CEA Sections 8a(2) and 8a(3) provide the grounds and procedures by which an

application for registration may be denied.

Shorcan: Time Limited Registration No-Action Position

Page 5

Questions concerning the relief in this letter may be directed to Mathew B. Kulkin, Di-

rector, DSIO at (202) 418-5213 or mkulkin@cftc.gov; or Frank Fisanich, Chief Counsel,

DSIO, at (202) 418-5949 or ffisanich@cftc.gov.

Very truly yours,

_______________________

Matthew B. Kulkin

Director

Division of Swap Dealer and Intermediary Oversight

cc:

Regina Thoele, Compliance

National Futures Association, Chicago

Yvette Christman, Registration

National Futures Association, Chicago

Shorcan: Time Limited Registration No-Action Position

Page 6

ANNEX A

Transitioning Contracts

Very truly yours,

_______________________

Matthew B. Kulkin

Director

Division of Swap Dealer and Intermediary Oversight

cc:

Regina Thoele, Compliance

National Futures Association, Chicago

Yvette Christman, Registration

National Futures Association, Chicago

Shorcan: Time Limited Registration No-Action Position

Page 6

ANNEX A

Transitioning Contracts

Commodity

Code

Logical

Code

Product Description

Contract

Type

UL7

67‐grade USGC ULSD (Platts) vs Heating Oil 1st Line Future

Future

NH2

Argus 62‐grade NYH ULSD vs Heating Oil 1st Line Future

Future

NH7

Argus 67‐grade NYH ULSD vs Heating Oil 1st Line Future

Future

BAK

Argus Bakken (Clearbrook) Crude Oil Future

Future

ARH

Argus LLS Average Price Option

Option

ARH

Argus LLS Future

Future

ARI

Argus LLS vs Brent 1st Line Future

Future

ARJ

Argus LLS vs Dated Brent (Platts) Future

Future

ARK

Argus LLS vs WTI 1st Line Average Price Option

Option

180‐18U

ARP

Argus LLS vs WTI 1st Line Balmo Future

Future

ARK

Argus LLS vs WTI 1st Line Future

Future

ARL

Argus LLS vs WTI Trade Month Average Pric

ce Option

Option

ARH

Argus LLS Future

Future

ARI

Argus LLS vs Brent 1st Line Future

Future

ARJ

Argus LLS vs Dated Brent (Platts) Future

Future

ARK

Argus LLS vs WTI 1st Line Average Price Option

Option

180‐18U

ARP

Argus LLS vs WTI 1st Line Balmo Future

Future

ARK

Argus LLS vs WTI 1st Line Future

Future

ARL

Argus LLS vs WTI Trade Month Average Price Option

Option

ARQ

Argus LLS vs WTI Trade Month Balmo Future

Future

ARL

Argus LLS vs WTI Trade Month Future

Future

ARM

Argus Mars Future

Future

ARN

Argus Mars vs Brent 1st Line Future

Future

ARO

Argus Mars vs WTI 1st Line Average Price Option

Option

ART

Argus Mars vs WTI 1st Line Balmo Future

Future

ARO

Argus Mars vs WTI 1st Line Future

Future

ARW

Argus Mars vs WTI Trade Month Average Price Option

Option

ARS

Argus Mars vs WTI Trade Month Balmo Future

Future

ARW

Argus Mars vs WTI Trade Month Future

Future

03G‐04A

JCI

Argus NYH Jet vs Heating Oil 1st Line Balmo Future

Future

JCH

Argus NYH Jet vs Heating Oil 1st Line Future

Future

TAB

Argus Sour Crude Index (ASCI) Diff Calendar Future

Future

TOB

Argus Sour Crude Index (ASCI) Diff Trade Month Future

Future

AIO

Argus ULSD NYH Buckeye Pipeline vs Heating Oil 1st Line Future Future

AIP

Argus ULSD NYH Colonial Offline vs Heating Oil 1st line Future

Future

CSH

Argus WCS (Cushing) Crude Oil Trade Month Future

Future

AIM

Argus WTI CMA Trade Month Future

Future

ACT

Argus WTI Cushing Trade Month Future

Future

MSN

Argus WTI Houston vs Argus WTI Midland Trade Month Future

Future

AIL

Argus WTI Houston vs WTI 1st Line Average Price Option

Option

AIK

Argus WTI Houston vs WTI 1st Line Balmo Future

Future

AIL

Argus WTI Houston vs WTI 1st Line Future

Future

ACL

Argus WTI Houston vs WTI Trade Month Balmo Future

Future

ACM

Argus WTI Houston vs WTI Trade Month Future

Future

MST

Argus WTI Midlan

s WTI Midland Trade Month Future

Future

AIL

Argus WTI Houston vs WTI 1st Line Average Price Option

Option

AIK

Argus WTI Houston vs WTI 1st Line Balmo Future

Future

AIL

Argus WTI Houston vs WTI 1st Line Future

Future

ACL

Argus WTI Houston vs WTI Trade Month Balmo Future

Future

ACM

Argus WTI Houston vs WTI Trade Month Future

Future

MST

Argus WTI Midland vs Argus WTS Trade Month Future

Future

Commodity

Code

Logical

Code

Product Description

Contract

Type

MLT

Argus WTI Midland vs WTI 1st Line Average Price Option

Option

MLU

Argus WTI Midland vs WTI 1st Line Balmo Future

Future

MLT

Argus WTI Midland vs WTI 1st Line Future

Future

MLS

Argus WTI Midland vs WTI Trade Month Balmo Future

Future

MSV

Argus WTI Midland vs WTI Trade Month Future

Future

AFH

Argus WTS vs WTI 1st Line Average Price Option

Option

AFI

Argus WTS vs WTI 1st Line Balmo Future

Future

AFH

Argus WTS vs WTI 1st Line Future

Future

AVS

Argus WTS vs WTI Trade Month Balmo Future

Future

AVT

Argus WTS vs WTI Trade Month Future

Future

ETC

Chicago Ethanol (Platts) Future

Future

ABL

Argus ANS vs Brent 1s

ade Month Future

Future

AFH

Argus WTS vs WTI 1st Line Average Price Option

Option

AFI

Argus WTS vs WTI 1st Line Balmo Future

Future

AFH

Argus WTS vs WTI 1st Line Future

Future

AVS

Argus WTS vs WTI Trade Month Balmo Future

Future

AVT

Argus WTS vs WTI Trade Month Future

Future

ETC

Chicago Ethanol (Platts) Future

Future

ABL

Argus ANS vs Brent 1st Line Future

Future

DFL

Daily Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line Future

Future

DFK

Daily Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Future

Future

DWO

Daily WTI 1‐Month Calendar Spread Future

Future

DWO

Daily WTI 1‐Month Calendar Spread Option

Option

DFF

Diesel 10ppm FOB ARA Barges (Platts) vs Heating Oil 1st Line

Future

EHL

EU‐Style Heating Oil vs Low Sulphur Gasoil Future

Future

EHL

EU‐Style Heating Oil vs Low Sulphur Gasoil Option

Option

WUL

WBS

EU‐Style WTI Future

Future

WUL

WBS

EU‐Style WTI Option

Option

14X

New York 3.0% Fuel Oil (Platts) Future

Future

GOK

Fuel Oil 380 CST Singapore (Platts) vs USGC HSFO (Platts) Future

(in Bbls)

Future

1Y4‐1YY

GPR

Group 3 Sub‐Octane Gasoline (Platts) vs RBOB Gasoline 1st Line

Balmo Future

Future

GDL

Group 3 Sub‐Octane Gasoline (Platts) vs RBOB Gasoline 1st Line

Future

DCS

Group 3 ULSD (OPIS) vs Heating Oil 1st Line Future

Future

GUH

Group 3 ULSD (Platts) vs Heating Oil 1st Line Future

Future

G3V

Group 3 V‐Grade Sub‐Octane Gasoline (OPIS) vs RBOB Gasoline

1st Line Future

Future

056‐060

GDN

Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) vs RBOB

Gasoline 1st Line Balmo Future

Future

GDM

Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) vs RBOB

Gasoline 1st Line Future

Future

JCF

Gulf Coast Jet Fuel (Platts) Average Price Option

Option

0Z0‐0ZU

JCG

Gulf Coast Jet Fuel (Platts) Balmo Future

Future

GCJ

Gulf Coast Jet Fuel (Platts) Mini Future

Future

04B‐055

JHP

Gulf Coast Jet Fuel (Pla

ine (Platts) vs RBOB

Gasoline 1st Line Balmo Future

Future

GDM

Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) vs RBOB

Gasoline 1st Line Future

Future

JCF

Gulf Coast Jet Fuel (Platts) Average Price Option

Option

0Z0‐0ZU

JCG

Gulf Coast Jet Fuel (Platts) Balmo Future

Future

GCJ

Gulf Coast Jet Fuel (Platts) Mini Future

Future

04B‐055

JHP

Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line Balmo Future

Future

Commodity

Code

Logical

Code

Product Description

Contract

Type

JCF

Gulf Coast Jet Fuel (Platts) Future

Future

GUB

Gulf Coast Jet Fuel (Platts) vs Brent 1st Line Future

Future

JHO

Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line Future

Future

JCU

Gulf Coast ULSD (Platts) vs Gulf Coast Jet Fuel (Platts) Future

Future

MXQ‐‐

MYU

GCH

Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Balmo Future

Future

GUU

Gulf Coast ULSD (Platts) Future

Future

GUV

Gulf Coast ULSD (Platts) vs Brent 1st Line Future

Future

GOH

Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Future

Future

GUX

Gulf Coast ULSD (Platts) vs Low Sulphur Gasoil 1st Line Future

Gulf Coast Jet Fuel (Platts) Future

Future

MXQ‐‐

MYU

GCH

Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Balmo Future

Future

GUU

Gulf Coast ULSD (Platts) Future

Future

GUV

Gulf Coast ULSD (Platts) vs Brent 1st Line Future

Future

GOH

Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Future

Future

GUX

Gulf Coast ULSD (Platts) vs Low Sulphur Gasoil 1st Line Future

Future

GUW

Gulf Coast ULSD (Platts) vs WTI 1st Line Future

Future

000‐00U

UMM

Gulf Coast Unl 87 Gasoline Prompt Pipeline (Platts) vs RBOB

Gasoline 1st Line Balmo Future

Future

UM1

Gulf Coast Unl 87 Gasoline Prompt Pipeline (Platts) vs RBOB

Gasoline 1st Line Future

Future

HOF

UHO

Heating Oil 1st Line Future

Future

HOM

Heating Oil 1st Line Mini Future

Future

HBT

Heating Oil 1st Line vs Brent 1st Line Future (in Bbls)

Future

1IM‐1JG

UL9

Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line Balmo Future

(in Bbls)

Future

ULM

Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line Future (in

Bbls)

Future

ULL

Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line Future (in

MTs)

Future

HBW

Heating Oil 1st Line vs WTI 1st Line Future

Future

HOF

UHO

Heating Oil Average Price Option

Option

TDE

Daily EU‐Style WTI Option

Option

TDE

Daily EU‐Style WTI Future

Future

01Q‐02K

LA5

LA Jet Fuel (Platts) vs Heating Oil 1st Line Balmo Future

Future

LA4

LA Jet Fuel (Platts) vs Heating Oil 1st Line Future

Future

GHK‐GIO

FOE

New York 1% Fuel Oil (Platts) vs USGC HSFO (Platts) Balmo

Future

FOD

New York 1% Fuel Oil (Platts) vs USGC HSFO (Platts) Future

Future

FRA‐FSE

FOX

New York 1% Fuel Oil (Platts) Balmo Future

Future

FOW

New York 1% Fuel Oil (Platts) Future

Future

GGF‐GHJ

FOI

New York 1% Fuel Oil (Platts) vs Fuel Oil 1% FOB NWE Cargoes

(Platts) Balmo Future

Future

FOH

New York 1% Fuel Oil (Platts) vs Fuel Oil 1% FOB NWE Cargoes

(Platts) Future

Future

NFB

New York 1% Fuel Oil (Platts) vs Brent 1s

latts) Future

Future

FRA‐FSE

FOX

New York 1% Fuel Oil (Platts) Balmo Future

Future

FOW

New York 1% Fuel Oil (Platts) Future

Future

GGF‐GHJ

FOI

New York 1% Fuel Oil (Platts) vs Fuel Oil 1% FOB NWE Cargoes

(Platts) Balmo Future

Future

FOH

New York 1% Fuel Oil (Platts) vs Fuel Oil 1% FOB NWE Cargoes

(Platts) Future

Future

NFB

New York 1% Fuel Oil (Platts) vs Brent 1st Line Future

Future

GIP‐GJT

FOL

New York 1% Fuel Oil (Platts) vs WTI 1st Line Balmo Future

Future

FOK

New York 1% Fuel Oil (Platts) vs WTI 1st Line Future

Future

Commodity

Code

Logical

Code

Product Description

Contract

Type

14W

New York 3.0% Fuel Oil (Platts) vs USGC HSFO (Platts) Future

Future

ETN

New York Ethanol (Platts) Future

Future

HOC

New York Harbour ULSD 1‐Month Calendar Spread Future

Future

HOC

New York Harbour ULSD 1‐Month Calendar Spread Option

Option

RCM

RBOB Gasoline 1‐Month Calendar Spread Future

Future

RCM

RBOB Gasoline 1‐Month Calendar Spread Option

Option

0X0‐0XU

RSE

RBOB Gasoline 1st Line Balmo Future

Future

RBS

UHU

RBOB Gasoline 1st Line Future

Future

RBM

RBOB Gasoline 1st Line Mini Future

Future

140‐14U

GDR

RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam

Barge

Calendar Spread Option

Option

RCM

RBOB Gasoline 1‐Month Calendar Spread Future

Future

RCM

RBOB Gasoline 1‐Month Calendar Spread Option

Option

0X0‐0XU

RSE

RBOB Gasoline 1st Line Balmo Future

Future

RBS

UHU

RBOB Gasoline 1st Line Future

Future

RBM

RBOB Gasoline 1st Line Mini Future

Future

140‐14U

GDR

RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam

Barges Balmo Mini Future

Future

GDO

RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam

Barges Future

Future

GDQ

RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam

Barges Mini Future

Future

1F6‐1G0

GDT

RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam

Barges Balmo Future

Future

RBR

RBOB Gasoline 1st Line vs Brent 1st Line Future

Future

RBW

RBOB Gasoline 1st Line vs WTI 1st Line Future

Future

RBS

UHU

RBOB Gasoline Average Price Option

Option

1EB‐1F5

RBQ

RBOB vs Brent 1st Line Balmo Future (in Bbls)

Future

TMS

TMX SYN 1a Index Future

Future

SYN

TMX SYN 1b Index Future

Future

TMF

TMX C5 1a Index Future

Future

TMC

TMX C5 1b Index Future

Future

TML

TMX LSB 1a Index Future

Future

TMR

TMX SW 1a Index Future

Future

1TT‐1UN

TMZ

TMX SW 1a Index Balmo Future

Future

TMU

TMX UHC 1a Index Future

Future

UHB

TMX UHC 1b Index Future

Future

TMW

TMX WCS 1a Index Average Price Option

Option

TMW

TMX WCS 1a Index Future

Future

1SY‐1TS

TMY

TMX WCS 1a Index Balmo Future

Future

VYH‐VZL

TDY

TMX WCS 1b Index Balmo Future

Future

TDX

TMX WCS 1b Index Future

Future

TMN

ULSD 10ppm CIF MED Cargoes (Platts) vs Heating Oil 1st Line

Future

TNN

ULSD 10ppm CIF NWE Cargoes (Platts) vs Heating Oil 1st Line

Future

UHL

ULSD NYH Colonial Offline (Platts) vs Heating Oil 1st Line Future Future

GUE

Gulf Coast Export ULSD Cargoes (Platts) Future

Future

1b Index Balmo Future

Future

TDX

TMX WCS 1b Index Future

Future

TMN

ULSD 10ppm CIF MED Cargoes (Platts) vs Heating Oil 1st Line

Future

TNN

ULSD 10ppm CIF NWE Cargoes (Platts) vs Heating Oil 1st Line

Future

UHL

ULSD NYH Colonial Offline (Platts) vs Heating Oil 1st Line Future Future

GUE

Gulf Coast Export ULSD Cargoes (Platts) Future

Future

Commodity

Code

Logical

Code

Product Description

Contract

Type

RBO

USGC HSFO (Platts) Average Price Option

Option

FPA‐FQE

RBP

USGC HSFO (Platts) Balmo Future

Future

RBO

USGC HSFO (Platts) Future

Future

1JH‐1KB

GCT

USGC HSFO (Platts) vs Brent 1st Line Balmo Future

Future

GCS

USGC HSFO (Platts) vs Brent 1st Line Future

Future

GJU‐GKY

GOD

USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges

(Platts) Balmo Future (in Bbls)

Future

GOE

USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges

(Platts) Future (in Bbls)

Future

NVV

USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges

(Platts) Future (in MTs)

Future

GUF

USGC HSFO (Platts) vs WTI 1st Line Future

Future

TIZ

WTI 12‐Month Calendar Spread Future

Future

TIZ

WTI 12‐Month Calendar Spread Option

Option

TIA

WTI 1‐Month Calendar

USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges

(Platts) Future (in Bbls)

Future

NVV

USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges

(Platts) Future (in MTs)

Future

GUF

USGC HSFO (Platts) vs WTI 1st Line Future

Future

TIZ

WTI 12‐Month Calendar Spread Future

Future

TIZ

WTI 12‐Month Calendar Spread Option

Option

TIA

WTI 1‐Month Calendar Spread Future

Future

TIA

WTI 1‐Month Calendar Spread Option

Option

02L‐03F

WBT

WTI 1st Line Balmo Future

Future

WBS

WTI 1st Line Future

Future

RMM

WTI 1st Line Mini Future

Future

B20‐B2U

BTE

WTI 1st Line vs Brent 1st Line Balmo Future

Future

BTD

WTI 1st Line vs Brent 1st Line Future

Future

02L‐03F

WBT

WTI Average Price Balmo Option

Option

WBS

WTI Average Price Option

Option

WTB

WBS

WTI Bullet Future

Future

TIB

WTI vs Brent Bullet Future

Future

TIB

WTI vs Brent Spread Option

Option

ECC

Ethane in E/P Mix, OPIS Conway In‐Well Average Price Option

Option

ETE

Ethane, OPIS Mt. Belvieu Non‐TET Average Price Option

Option

NGE

Natural Gasoline, OPIS Mt. Belvieu Non‐TET Average Price

Option

NBI

Normal Butane, OPIS Mt. Belvieu Non‐TET Average Price Option Option

PRC

Propane, OPIS Conway In‐Well Average Price Option

Option

PRL

Propane, OPIS Mt. Belvieu TET Average Price Option

Option

BUC

Benzene, PCW US Contract Price Future

Future

BUI

Benzene, PCW US Index Fixed Price Future

Future

ABR

Butane, Argus CIF ARA Future

Future

1ON‐1PH

BUN

Butane, Argus CIF ARA Balmo Future

Future

ABM

Butane, Argus CIF ARA Mini Future

Future

1PI‐1QC

BUR

Butane, Argus Far East Index (AFEI) Balmo Future

Future

ABF

Butane, Argus Far East Index (AFEI) Future

Future

BUQ

Butane, Argus Far East Index (AFEI) Mini Future

Future

US Index Fixed Price Future

Future

ABR

Butane, Argus CIF ARA Future

Future

1ON‐1PH

BUN

Butane, Argus CIF ARA Balmo Future

Future

ABM

Butane, Argus CIF ARA Mini Future

Future

1PI‐1QC

BUR

Butane, Argus Far East Index (AFEI) Balmo Future

Future

ABF

Butane, Argus Far East Index (AFEI) Future

Future

BUQ

Butane, Argus Far East Index (AFEI) Mini Future

Future

Commodity

Code

Logical

Code

Product Description

Contract

Type

ABS

Butane, Argus Saudi CP Future

Future

BUS

ABS

Butane, Argus Saudi CP Mini Future

Future

ABO

Butane, Argus Sonatrach CP Future

Future

ECC

Ethane in E/P Mix, OPIS Conway In‐Well Future

Future

LPE‐LQI

ECD

Ethane in E/P Mix, OPIS Conway In‐Well Balmo Future

Future

ECB

Ethane in E/P Mix, OPIS Mt. Belvieu Non‐TET Future

Future

LNZ‐LPD

ECA

Ethane in E/P Mix, OPIS Mt. Belvieu Non‐TET Balmo Future

Future

ETD

Ethane, OPIS Mt. Belvieu Other Non‐TET Future

Future

ETE

Ethane, OPIS Mt. Belvieu Non‐TET Future

Future

EEA‐EFE

ETF

Ethane, OPIS Mt

‐Well Future

Future

LPE‐LQI

ECD

Ethane in E/P Mix, OPIS Conway In‐Well Balmo Future

Future

ECB

Ethane in E/P Mix, OPIS Mt. Belvieu Non‐TET Future

Future

LNZ‐LPD

ECA

Ethane in E/P Mix, OPIS Mt. Belvieu Non‐TET Balmo Future

Future

ETD

Ethane, OPIS Mt. Belvieu Other Non‐TET Future

Future

ETE

Ethane, OPIS Mt. Belvieu Non‐TET Future

Future

EEA‐EFE

ETF

Ethane, OPIS Mt. Belvieu Non‐TET Balmo Future

Future

ISC

Isobutane, OPIS Conway In‐Well Future

Future

LWH‐LXL

ISD

Isobutane, OPIS Conway In‐Well Balmo Future

Future

ISO

Isobutane, OPIS Mt. Belvieu Non‐TET Future

Future

LVC‐LWG

ISP

Isobutane, OPIS Mt. Belvieu Non‐TET Balmo Future

Future

ISL

Isobutane, OPIS Mt. Belvieu TET Future

Future

ZHF‐ZIJ

ISQ

Isobutane, OPIS Mt. Belvieu TET Balmo Future

Future

M00‐M0U

ETG

Ethylene, PCW Mont Belvieu Balmo Future

Future

ETH

Ethylene, PCW Mont Belvieu Future

Future

NGC

Natural Gasoline, OPIS Conway In‐Well Future

Future

LJF‐LKJ

NGG

Natural Gasoline, OPIS Conway In‐Well Balmo Future

Future

NGW

Natural Gasoline, OPIS Mt. Belvieu Non‐TET vs WTI 1st Line

Future

NGE

Natural Gasoline, OPIS Mt. Belvieu Non‐TET Future

Future

LGA‐LHE

NGF

Natural Gasoline, OPIS Mt. Belvieu Non‐TET Balmo Future

Future

NBC

Natural Gasoline, OPIS Mt. Belvieu Other Non‐TET Future

Future

NGL

Natural Gasoline, OPIS Mt. Belvieu TET Future

Future

LSS‐LTW

NGK

Natural Gasoline, OPIS Mt. Belvieu TET Balmo Future

Future

NGB

NGL Basket, OPIS Mt. Belvieu Non‐TET Future

Future

NBE

Normal Butane, OPIS Mt. Belvieu Other Non‐TET Future

Future

IBC

Normal Butane, OPIS Conway In‐Well Future

Future

LKK‐LLO

IBD

Normal Butane, OPIS Conway In‐Well Balmo Future

Future

NBI

Normal Butane, OPIS Mt. Belvieu Non‐TET Future

Future

LEA‐LFE

NBJ

Normal Butane, OPIS Mt. Belvieu Non‐TET Balmo Future

Future

NBR

Normal Butane, OPIS Mt. Belvieu TET Future

Future

LRN‐LSR

NBS

Normal Butane, OPIS Mt

her Non‐TET Future

Future

IBC

Normal Butane, OPIS Conway In‐Well Future

Future

LKK‐LLO

IBD

Normal Butane, OPIS Conway In‐Well Balmo Future

Future

NBI

Normal Butane, OPIS Mt. Belvieu Non‐TET Future

Future

LEA‐LFE

NBJ

Normal Butane, OPIS Mt. Belvieu Non‐TET Balmo Future

Future

NBR

Normal Butane, OPIS Mt. Belvieu TET Future

Future

LRN‐LSR

NBS

Normal Butane, OPIS Mt. Belvieu TET Balmo Future

Future

P10‐P1U

PPN

Polymer Grade Propylene (PGP), PCW Mont Belvieu Balmo

Future

PPL

Polymer Grade Propylene (PGP), PCW Mont Belvieu Future

Future

APC

Propane, Argus CIF ARA Average Price Option

Option

1HR‐1IL

ABG

Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts)

Balmo Future

Future

Commodity

Code

Logical

Code

Product Description

Contract

Type

APN

Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts)

Future

APC

Propane, Argus CIF ARA Future

Future

LMU‐LNY

APD

Propane, Argus CIF ARA Balmo Future

Future

AFM

Propane, Argus CIF ARA Mini Future

Future

AFE

Propane, Argus Far East Index (AFEI) Average Price Option

Option

AFL

Propane, Argus Far East Index (AFEI) Mini Future

Future

1GW‐1HQ

ABK

Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan

Cargoes (Platts) Balmo Future

Future

ARR

Propane, A

Future

LMU‐LNY

APD

Propane, Argus CIF ARA Balmo Future

Future

AFM

Propane, Argus CIF ARA Mini Future

Future

AFE

Propane, Argus Far East Index (AFEI) Average Price Option

Option

AFL

Propane, Argus Far East Index (AFEI) Mini Future

Future

1GW‐1HQ

ABK

Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan

Cargoes (Platts) Balmo Future

Future

ARR

Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan

Cargoes (Platts) Future

Future

EGD

Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA

Future

VRD‐VSH

EGE

Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA

Balmo Future

Future

AFE

Propane, Argus Far East Index (AFEI) Future

Future

LLP‐LMT

AFF

Propane, Argus Far East Index (AFEI) Balmo Future

Future

SCP

Propane, Argus Saudi CP Future

Future

AFS

Propane, Argus Sonatrach CP Future

Future

TOT

Propane, OPIS CIF ARA ToT Cargoes Future

Future

PRC

Propane, OPIS Conway In‐Well Future

Future

LIA‐LJE

PRD

Propane, OPIS Conway In‐Well Balmo Future

Future

PRH

Propane, OPIS Hattiesburg Future

Future

CEJ

Propane, OPIS Mt. Belvieu Non‐TET vs Propane, Argus CIF ARA

Future

CEZ

Propane, OPIS Mt. Belvieu Non‐TET vs Propane, Argus Far East

Index (AFEI) Future

Future

PRN

Propane, OPIS Mt. Belvieu Non‐TET Future

Future

LAA‐LBE

PRO

Propane, OPIS Mt. Belvieu Non‐TET Balmo Future

Future

1YZ‐1ZT

PBP

Propane, OPIS Mt. Belvieu Other Non‐TET Balmo Future

Future

PBO

Propane, OPIS Mt. Belvieu Other Non‐TET Future

Future

CEK

Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA

Future

CEY

Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index

(AFEI) Future

Future

PRL

Propane, OPIS Mt. Belvieu TET Future

Future

LCA‐LDE

PRM

Propane, OPIS Mt. Belvieu TET Balmo Future

Future

PLM

Propane, OPIS Mt. Belvieu TET Mini Future

Future

AFK

SCP

Propane, Argus Saudi CP Mini Future

Future

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.