# CFTC Letter No. 18-02: 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

> Federal · Agency guidance · In force

URL: https://www.frixlaw.com/law-library/statutes/CFTC_L18_02

## Section

- **Citation:** CFTC Letter No. 18-02
- **Heading:** 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
- **Jurisdiction:** Federal
- **Kind:** Agency guidance
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** 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.

## Text

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:
a)
Shorcan is incorporated in Ontario, Canada and based in Alberta, Canada;
b)
Shorcan is not currently registered, nor required to be registered, in the United States;
c)
Shorcan currently relies on a registration exemption to intermediate trades in Canada; and
d)
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
d)
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

I.
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:

1
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:

1.
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

2.
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
register IBs and APs of IBs.

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
register IBs and APs of IBs.

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

3.
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
t
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
UL7
67‐grade USGC ULSD (Platts) vs Heating Oil 1st Line Future
Future
NH2
NH2
Argus 62‐grade NYH ULSD vs Heating Oil 1st Line Future
Future
NH7
NH7
Argus 67‐grade NYH ULSD vs Heating Oil 1st Line Future
Future
BAK
BAK
Argus Bakken (Clearbrook) Crude Oil Future
Future
ARH
ARH
Argus LLS Average Price Option
Option
ARH
ARH
Argus LLS Future
Future
ARI
ARI
Argus LLS vs Brent 1st Line Future
Future
ARJ
ARJ
Argus LLS vs Dated Brent (Platts) Future
Future
ARK
ARK
Argus LLS vs WTI 1st Line Average Price Option
Option
180‐18U
ARP
Argus LLS vs WTI 1st Line Balmo Future
Future
ARK
ARK
Argus LLS vs WTI 1st Line Future
Future
ARL
ARL
Argus LLS vs WTI Trade Month Average Pric
ce Option
Option
ARH
ARH
Argus LLS Future
Future
ARI
ARI
Argus LLS vs Brent 1st Line Future
Future
ARJ
ARJ
Argus LLS vs Dated Brent (Platts) Future
Future
ARK
ARK
Argus LLS vs WTI 1st Line Average Price Option
Option
180‐18U
ARP
Argus LLS vs WTI 1st Line Balmo Future
Future
ARK
ARK
Argus LLS vs WTI 1st Line Future
Future
ARL
ARL
Argus LLS vs WTI Trade Month Average Price Option
Option
ARQ
ARQ
Argus LLS vs WTI Trade Month Balmo Future
Future
ARL
ARL
Argus LLS vs WTI Trade Month Future
Future
ARM
ARM
Argus Mars Future
Future
ARN
ARN
Argus Mars vs Brent 1st Line Future
Future
ARO
ARO
Argus Mars vs WTI 1st Line Average Price Option
Option
ART
ART
Argus Mars vs WTI 1st Line Balmo Future
Future
ARO
ARO
Argus Mars vs WTI 1st Line Future
Future
ARW
ARW
Argus Mars vs WTI Trade Month Average Price Option
Option
ARS
ARS
Argus Mars vs WTI Trade Month Balmo Future
Future
ARW
ARW
Argus Mars vs WTI Trade Month Future
Future
03G‐04A
JCI
Argus NYH Jet vs Heating Oil 1st Line Balmo Future
Future
JCH
JCH
Argus NYH Jet vs Heating Oil 1st Line Future
Future
TAB
TAB
Argus Sour Crude Index (ASCI) Diff Calendar Future
Future
TOB
TOB
Argus Sour Crude Index (ASCI) Diff Trade Month Future
Future
AIO
AIO
Argus ULSD NYH Buckeye Pipeline vs Heating Oil 1st Line Future Future
AIP
AIP
Argus ULSD NYH Colonial Offline vs Heating Oil 1st line Future
Future
CSH
CSH
Argus WCS (Cushing) Crude Oil Trade Month Future
Future
AIM
AIM
Argus WTI CMA Trade Month Future
Future
ACT
ACT
Argus WTI Cushing Trade Month Future
Future
MSN
MSN
Argus WTI Houston vs Argus WTI Midland Trade Month Future
Future
AIL
AIL
Argus WTI Houston vs WTI 1st Line Average Price Option
Option
AIK
AIK
Argus WTI Houston vs WTI 1st Line Balmo Future
Future
AIL
AIL
Argus WTI Houston vs WTI 1st Line Future
Future
ACL
ACL
Argus WTI Houston vs WTI Trade Month Balmo Future
Future
ACM
ACM
Argus WTI Houston vs WTI Trade Month Future
Future
MST
MST
Argus WTI Midlan
s WTI Midland Trade Month Future
Future
AIL
AIL
Argus WTI Houston vs WTI 1st Line Average Price Option
Option
AIK
AIK
Argus WTI Houston vs WTI 1st Line Balmo Future
Future
AIL
AIL
Argus WTI Houston vs WTI 1st Line Future
Future
ACL
ACL
Argus WTI Houston vs WTI Trade Month Balmo Future
Future
ACM
ACM
Argus WTI Houston vs WTI Trade Month Future
Future
MST
MST
Argus WTI Midland vs Argus WTS Trade Month Future
Future
1

Commodity
Code
Logical
Code
Product Description
Contract
Type
MLT
MLT
Argus WTI Midland vs WTI 1st Line Average Price Option
Option
MLU
MLU
Argus WTI Midland vs WTI 1st Line Balmo Future
Future
MLT
MLT
Argus WTI Midland vs WTI 1st Line Future
Future
MLS
MLS
Argus WTI Midland vs WTI Trade Month Balmo Future
Future
MSV
MSV
Argus WTI Midland vs WTI Trade Month Future
Future
AFH
AFH
Argus WTS vs WTI 1st Line Average Price Option
Option
AFI
AFI
Argus WTS vs WTI 1st Line Balmo Future
Future
AFH
AFH
Argus WTS vs WTI 1st Line Future
Future
AVS
AVS
Argus WTS vs WTI Trade Month Balmo Future
Future
AVT
AVT
Argus WTS vs WTI Trade Month Future
Future
ETC
ETC
Chicago Ethanol (Platts) Future
Future
ABL
ABL
Argus ANS vs Brent 1s
ade Month Future
Future
AFH
AFH
Argus WTS vs WTI 1st Line Average Price Option
Option
AFI
AFI
Argus WTS vs WTI 1st Line Balmo Future
Future
AFH
AFH
Argus WTS vs WTI 1st Line Future
Future
AVS
AVS
Argus WTS vs WTI Trade Month Balmo Future
Future
AVT
AVT
Argus WTS vs WTI Trade Month Future
Future
ETC
ETC
Chicago Ethanol (Platts) Future
Future
ABL
ABL
Argus ANS vs Brent 1st Line Future
Future
DFL
DFL
Daily Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line Future
Future
DFK
DFK
Daily Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Future
Future
DWO
DWO
Daily WTI 1‐Month Calendar Spread Future
Future
DWO
DWO
Daily WTI 1‐Month Calendar Spread Option
Option
DFF
DFF
Diesel 10ppm FOB ARA Barges (Platts) vs Heating Oil 1st Line
Future
Future
EHL
EHL
EU‐Style Heating Oil vs Low Sulphur Gasoil Future
Future
EHL
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
14X
New York 3.0% Fuel Oil (Platts) Future
Future
GOK
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
GDL
Group 3 Sub‐Octane Gasoline (Platts) vs RBOB Gasoline 1st Line
Future
Future
DCS
DCS
Group 3 ULSD (OPIS) vs Heating Oil 1st Line Future
Future
GUH
GUH
Group 3 ULSD (Platts) vs Heating Oil 1st Line Future
Future
G3V
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
GDM
Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) vs RBOB
Gasoline 1st Line Future
Future
JCF
JCF
Gulf Coast Jet Fuel (Platts) Average Price Option
Option
0Z0‐0ZU
JCG
Gulf Coast Jet Fuel (Platts) Balmo Future
Future
GCJ
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
GDM
Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) vs RBOB
Gasoline 1st Line Future
Future
JCF
JCF
Gulf Coast Jet Fuel (Platts) Average Price Option
Option
0Z0‐0ZU
JCG
Gulf Coast Jet Fuel (Platts) Balmo Future
Future
GCJ
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
2

Commodity
Code
Logical
Code
Product Description
Contract
Type
JCF
JCF
Gulf Coast Jet Fuel (Platts) Future
Future
GUB
GUB
Gulf Coast Jet Fuel (Platts) vs Brent 1st Line Future
Future
JHO
JHO
Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line Future
Future
JCU
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
GUU
Gulf Coast ULSD (Platts) Future
Future
GUV
GUV
Gulf Coast ULSD (Platts) vs Brent 1st Line Future
Future
GOH
GOH
Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Future
Future
GUX
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
GUU
Gulf Coast ULSD (Platts) Future
Future
GUV
GUV
Gulf Coast ULSD (Platts) vs Brent 1st Line Future
Future
GOH
GOH
Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Future
Future
GUX
GUX
Gulf Coast ULSD (Platts) vs Low Sulphur Gasoil 1st Line Future
Future
GUW
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
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
HOM
Heating Oil 1st Line Mini Future
Future
HBT
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
ULM
Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line Future (in
Bbls)
Future
ULL
ULL
Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line Future (in
MTs)
Future
HBW
HBW
Heating Oil 1st Line vs WTI 1st Line Future
Future
HOF
UHO
Heating Oil Average Price Option
Option
TDE
TDE
Daily EU‐Style WTI Option
Option
TDE
TDE
Daily EU‐Style WTI Future
Future
01Q‐02K
LA5
LA Jet Fuel (Platts) vs Heating Oil 1st Line Balmo Future
Future
LA4
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
Future
FOD
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
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
FOH
New York 1% Fuel Oil (Platts) vs Fuel Oil 1% FOB NWE Cargoes
(Platts) Future
Future
NFB
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
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
FOH
New York 1% Fuel Oil (Platts) vs Fuel Oil 1% FOB NWE Cargoes
(Platts) Future
Future
NFB
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
FOK
New York 1% Fuel Oil (Platts) vs WTI 1st Line Future
Future
3

Commodity
Code
Logical
Code
Product Description
Contract
Type
14W
14W
New York 3.0% Fuel Oil (Platts) vs USGC HSFO (Platts) Future
Future
ETN
ETN
New York Ethanol (Platts) Future
Future
HOC
HOC
New York Harbour ULSD 1‐Month Calendar Spread Future
Future
HOC
HOC
New York Harbour ULSD 1‐Month Calendar Spread Option
Option
RCM
RCM
RBOB Gasoline 1‐Month Calendar Spread Future
Future
RCM
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
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
RCM
RBOB Gasoline 1‐Month Calendar Spread Future
Future
RCM
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
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
GDO
RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam
Barges Future
Future
GDQ
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
RBR
RBOB Gasoline 1st Line vs Brent 1st Line Future
Future
RBW
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
TMS
TMX SYN 1a Index Future
Future
SYN
SYN
TMX SYN 1b Index Future
Future
TMF
TMF
TMX C5 1a Index Future
Future
TMC
TMC
TMX C5 1b Index Future
Future
TML
TML
TMX LSB 1a Index Future
Future
TMR
TMR
TMX SW 1a Index Future
Future
1TT‐1UN
TMZ
TMX SW 1a Index Balmo Future
Future
TMU
TMU
TMX UHC 1a Index Future
Future
UHB
UHB
TMX UHC 1b Index Future
Future
TMW
TMW
TMX WCS 1a Index Average Price Option
Option
TMW
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
TDX
TMX WCS 1b Index Future
Future
TMN
TMN
ULSD 10ppm CIF MED Cargoes (Platts) vs Heating Oil 1st Line
Future
Future
TNN
TNN
ULSD 10ppm CIF NWE Cargoes (Platts) vs Heating Oil 1st Line
Future
Future
UHL
UHL
ULSD NYH Colonial Offline (Platts) vs Heating Oil 1st Line Future Future
GUE
GUE
Gulf Coast Export ULSD Cargoes (Platts) Future
Future
4
1b Index Balmo Future
Future
TDX
TDX
TMX WCS 1b Index Future
Future
TMN
TMN
ULSD 10ppm CIF MED Cargoes (Platts) vs Heating Oil 1st Line
Future
Future
TNN
TNN
ULSD 10ppm CIF NWE Cargoes (Platts) vs Heating Oil 1st Line
Future
Future
UHL
UHL
ULSD NYH Colonial Offline (Platts) vs Heating Oil 1st Line Future Future
GUE
GUE
Gulf Coast Export ULSD Cargoes (Platts) Future
Future
4

Commodity
Code
Logical
Code
Product Description
Contract
Type
RBO
RBO
USGC HSFO (Platts) Average Price Option
Option
FPA‐FQE
RBP
USGC HSFO (Platts) Balmo Future
Future
RBO
RBO
USGC HSFO (Platts) Future
Future
1JH‐1KB
GCT
USGC HSFO (Platts) vs Brent 1st Line Balmo Future
Future
GCS
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
GOE
USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges
(Platts) Future (in Bbls)
Future
NVV
NVV
USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges
(Platts) Future (in MTs)
Future
GUF
GUF
USGC HSFO (Platts) vs WTI 1st Line Future
Future
TIZ
TIZ
WTI 12‐Month Calendar Spread Future
Future
TIZ
TIZ
WTI 12‐Month Calendar Spread Option
Option
TIA
TIA
WTI 1‐Month Calendar
E
USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges
(Platts) Future (in Bbls)
Future
NVV
NVV
USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges
(Platts) Future (in MTs)
Future
GUF
GUF
USGC HSFO (Platts) vs WTI 1st Line Future
Future
TIZ
TIZ
WTI 12‐Month Calendar Spread Future
Future
TIZ
TIZ
WTI 12‐Month Calendar Spread Option
Option
TIA
TIA
WTI 1‐Month Calendar Spread Future
Future
TIA
TIA
WTI 1‐Month Calendar Spread Option
Option
02L‐03F
WBT
WTI 1st Line Balmo Future
Future
R
WBS
WTI 1st Line Future
Future
RMM
RMM
WTI 1st Line Mini Future
Future
B20‐B2U
BTE
WTI 1st Line vs Brent 1st Line Balmo Future
Future
BTD
BTD
WTI 1st Line vs Brent 1st Line Future
Future
02L‐03F
WBT
WTI Average Price Balmo Option
Option
R
WBS
WTI Average Price Option
Option
WTB
WBS
WTI Bullet Future
Future
TIB
TIB
WTI vs Brent Bullet Future
Future
TIB
TIB
WTI vs Brent Spread Option
Option
ECC
ECC
Ethane in E/P Mix, OPIS Conway In‐Well Average Price Option
Option
ETE
ETE
Ethane, OPIS Mt. Belvieu Non‐TET Average Price Option
Option
NGE
NGE
Natural Gasoline, OPIS Mt. Belvieu Non‐TET Average Price
Option
Option
NBI
NBI
Normal Butane, OPIS Mt. Belvieu Non‐TET Average Price Option Option
PRC
PRC
Propane, OPIS Conway In‐Well Average Price Option
Option
PRL
PRL
Propane, OPIS Mt. Belvieu TET Average Price Option
Option
BUC
BUC
Benzene, PCW US Contract Price Future
Future
BUI
BUI
Benzene, PCW US Index Fixed Price Future
Future
ABR
ABR
Butane, Argus CIF ARA Future
Future
1ON‐1PH
BUN
Butane, Argus CIF ARA Balmo Future
Future
ABM
ABM
Butane, Argus CIF ARA Mini Future
Future
1PI‐1QC
BUR
Butane, Argus Far East Index (AFEI) Balmo Future
Future
ABF
ABF
Butane, Argus Far East Index (AFEI) Future
Future
BUQ
BUQ
Butane, Argus Far East Index (AFEI) Mini Future
Future
5
US Index Fixed Price Future
Future
ABR
ABR
Butane, Argus CIF ARA Future
Future
1ON‐1PH
BUN
Butane, Argus CIF ARA Balmo Future
Future
ABM
ABM
Butane, Argus CIF ARA Mini Future
Future
1PI‐1QC
BUR
Butane, Argus Far East Index (AFEI) Balmo Future
Future
ABF
ABF
Butane, Argus Far East Index (AFEI) Future
Future
BUQ
BUQ
Butane, Argus Far East Index (AFEI) Mini Future
Future
5

Commodity
Code
Logical
Code
Product Description
Contract
Type
ABS
ABS
Butane, Argus Saudi CP Future
Future
BUS
ABS
Butane, Argus Saudi CP Mini Future
Future
ABO
ABO
Butane, Argus Sonatrach CP Future
Future
ECC
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
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
ETD
Ethane, OPIS Mt. Belvieu Other Non‐TET Future
Future
ETE
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
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
ETD
Ethane, OPIS Mt. Belvieu Other Non‐TET Future
Future
ETE
ETE
Ethane, OPIS Mt. Belvieu Non‐TET Future
Future
EEA‐EFE
ETF
Ethane, OPIS Mt. Belvieu Non‐TET Balmo Future
Future
ISC
ISC
Isobutane, OPIS Conway In‐Well Future
Future
LWH‐LXL
ISD
Isobutane, OPIS Conway In‐Well Balmo Future
Future
ISO
ISO
Isobutane, OPIS Mt. Belvieu Non‐TET Future
Future
LVC‐LWG
ISP
Isobutane, OPIS Mt. Belvieu Non‐TET Balmo Future
Future
ISL
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
ETH
Ethylene, PCW Mont Belvieu Future
Future
NGC
NGC
Natural Gasoline, OPIS Conway In‐Well Future
Future
LJF‐LKJ
NGG
Natural Gasoline, OPIS Conway In‐Well Balmo Future
Future
NGW
NGW
Natural Gasoline, OPIS Mt. Belvieu Non‐TET vs WTI 1st Line
Future
Future
NGE
NGE
Natural Gasoline, OPIS Mt. Belvieu Non‐TET Future
Future
LGA‐LHE
NGF
Natural Gasoline, OPIS Mt. Belvieu Non‐TET Balmo Future
Future
NBC
NBC
Natural Gasoline, OPIS Mt. Belvieu Other Non‐TET Future
Future
NGL
NGL
Natural Gasoline, OPIS Mt. Belvieu TET Future
Future
LSS‐LTW
NGK
Natural Gasoline, OPIS Mt. Belvieu TET Balmo Future
Future
NGB
NGB
NGL Basket, OPIS Mt. Belvieu Non‐TET Future
Future
NBE
NBE
Normal Butane, OPIS Mt. Belvieu Other Non‐TET Future
Future
IBC
IBC
Normal Butane, OPIS Conway In‐Well Future
Future
LKK‐LLO
IBD
Normal Butane, OPIS Conway In‐Well Balmo Future
Future
NBI
NBI
Normal Butane, OPIS Mt. Belvieu Non‐TET Future
Future
LEA‐LFE
NBJ
Normal Butane, OPIS Mt. Belvieu Non‐TET Balmo Future
Future
NBR
NBR
Normal Butane, OPIS Mt. Belvieu TET Future
Future
LRN‐LSR
NBS
Normal Butane, OPIS Mt
her Non‐TET Future
Future
IBC
IBC
Normal Butane, OPIS Conway In‐Well Future
Future
LKK‐LLO
IBD
Normal Butane, OPIS Conway In‐Well Balmo Future
Future
NBI
NBI
Normal Butane, OPIS Mt. Belvieu Non‐TET Future
Future
LEA‐LFE
NBJ
Normal Butane, OPIS Mt. Belvieu Non‐TET Balmo Future
Future
NBR
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
Future
PPL
PPL
Polymer Grade Propylene (PGP), PCW Mont Belvieu Future
Future
APC
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
6

Commodity
Code
Logical
Code
Product Description
Contract
Type
APN
APN
Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts)
Future
Future
APC
APC
Propane, Argus CIF ARA Future
Future
LMU‐LNY
APD
Propane, Argus CIF ARA Balmo Future
Future
AFM
AFM
Propane, Argus CIF ARA Mini Future
Future
AFE
AFE
Propane, Argus Far East Index (AFEI) Average Price Option
Option
AFL
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
ARR
Propane, A
Future
LMU‐LNY
APD
Propane, Argus CIF ARA Balmo Future
Future
AFM
AFM
Propane, Argus CIF ARA Mini Future
Future
AFE
AFE
Propane, Argus Far East Index (AFEI) Average Price Option
Option
AFL
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
ARR
Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan
Cargoes (Platts) Future
Future
EGD
EGD
Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA
Future
Future
VRD‐VSH
EGE
Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA
Balmo Future
Future
AFE
AFE
Propane, Argus Far East Index (AFEI) Future
Future
LLP‐LMT
AFF
Propane, Argus Far East Index (AFEI) Balmo Future
Future
SCP
SCP
Propane, Argus Saudi CP Future
Future
AFS
AFS
Propane, Argus Sonatrach CP Future
Future
TOT
TOT
Propane, OPIS CIF ARA ToT Cargoes Future
Future
PRC
PRC
Propane, OPIS Conway In‐Well Future
Future
LIA‐LJE
PRD
Propane, OPIS Conway In‐Well Balmo Future
Future
PRH
PRH
Propane, OPIS Hattiesburg Future
Future
CEJ
CEJ
Propane, OPIS Mt. Belvieu Non‐TET vs Propane, Argus CIF ARA
Future
Future
CEZ
CEZ
Propane, OPIS Mt. Belvieu Non‐TET vs Propane, Argus Far East
Index (AFEI) Future
Future
PRN
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
PBO
Propane, OPIS Mt. Belvieu Other Non‐TET Future
Future
CEK
CEK
Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA
Future
Future
CEY
CEY
Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index
(AFEI) Future
Future
PRL
PRL
Propane, OPIS Mt. Belvieu TET Future
Future
LCA‐LDE
PRM
Propane, OPIS Mt. Belvieu TET Balmo Future
Future
PLM
PLM
Propane, OPIS Mt. Belvieu TET Mini Future
Future
AFK
SCP
Propane, Argus Saudi CP Mini Future
Future
7

## Nearby sections

- [CFTC Letter No. 08-03 Eurex Deutschlands Request for No-Action Relief in Connection with the Offer and Sale in the United States of Eight Futures Contracts Based on Security Indices Derived from the Dow Jones STOXX 600 Index.](https://www.frixlaw.com/law-library/statutes/CFTC_L08_03.md)
- [CFTC Letter No. 08-05 Eurex Deutschlands Request for No-Action Relief in Connection with the Offer and Sale in the United States of its Futures Contract Based on the RDXxt USD-RDX Extended Index.](https://www.frixlaw.com/law-library/statutes/CFTC_L08_05.md)
- [CFTC Letter No. 08-11 Euronext Paris SAs request for no-action relief in connection with the offer and sale in the United States of its futures contracts based on the FTSE EPRA/NAREIT Europe Index and the FTSE EPRA/NAREIT Euro Zone Index.](https://www.frixlaw.com/law-library/statutes/CFTC_L08_11.md)
- [CFTC Letter No. 08-13 Eurex Deutschlands Request for No-Action Relief in Connection with the Offer and Sale in the United States of its Futures Contracts Based on the SLI Swiss Leader Index, the Swiss Market Index Midcap, the Dow Jones Eur...](https://www.frixlaw.com/law-library/statutes/CFTC_L08_13.md)
- [CFTC Letter No. 08-15 The Division of Clearing and Intermediary Oversight granted exemptive relief from certain of the Part 4 regulations to the registered CPO of a commodity pool, whose shares the CPO intended to publicly offer and to lis...](https://www.frixlaw.com/law-library/statutes/CFTC_L08_15.md)
- [CFTC Letter No. 08-17 DCIO received a request for guidance from the Joint Audit Committee concerning FCM regulatory reporting requirements for investments in a money market mutual fund. The fund had announced that its net asset value per s...](https://www.frixlaw.com/law-library/statutes/CFTC_L08_17.md)
- [CFTC Letter No. 08-18 The Division of Market Oversight issued a letter granting no-action relief to permit the Brazilian Derivatives Exchange, BM&F Bovespa S.A. – Bolsa de Valores, Mercadorias e Futuros (BM&F), to make its electronic tradi...](https://www.frixlaw.com/law-library/statutes/CFTC_L08_18.md)
- [CFTC Letter No. 08-19 Thailand Futures Exchange Pcls Request for No-Action Relief in Connection with the Offer and Sale in the United States of its Futures Contract Based on the SET50 Index Futures Contract.](https://www.frixlaw.com/law-library/statutes/CFTC_L08_19.md)
- [CFTC Letter No. 08-21 The Division of Market Oversight issued a no-action letter to BNP Paribas confirming that the Division will not recommend that the Commission initiate enforcement action against BNP Paribas or Fortis Bank S.A./N.V., o...](https://www.frixlaw.com/law-library/statutes/CFTC_L08_21.md)
- [CFTC Letter No. 09-02 The Division of Clearing and Intermediary Oversight provided no-action relief to the general partner of a commodity pool from registering as a CPO under Section 4m(1) of the Commodity Exchange Act, and allowed an affi...](https://www.frixlaw.com/law-library/statutes/CFTC_L09_02.md)
- [CFTC Letter No. 09-06 The CPO of a commodity pool requested that DCIO agree to accept the Annual Report for the period from January 1, 2008 through October 31, 2008 as the Pool’s final annual report despite the fact that the Pool had not f...](https://www.frixlaw.com/law-library/statutes/CFTC_L09_06.md)
- [CFTC Letter No. 09-07 The CPO of a commodity pool with a de minimus amount of its assets embroiled in a bankruptcy requested relief from the ongoing reporting requirements under Part 4. The CPO filed an Annual Report for the Pool for the 2...](https://www.frixlaw.com/law-library/statutes/CFTC_L09_07.md)
- [CFTC Letter No. 09-11 The CPO of two commodity pools requested relief to use IFRS in lieu of US GAAP. DCIO granted relief pursuant to Commission Regulations 140.93 and 4.12(a).](https://www.frixlaw.com/law-library/statutes/CFTC_L09_11.md)
- [CFTC Letter No. 09-13 The CPO of commodity pool requested relief to use IFRS in lieu of US GAAP. DCIO granted relief pursuant to Commission Regulations 140.93 and 4.12(a).](https://www.frixlaw.com/law-library/statutes/CFTC_L09_13.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFTC_L18_02. Check the current official text before relying on it. Not legal advice.