ice_futures [PPro8 Wiki]

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====== ICE Futures Europe ======

The Intercontinental Exchange (ICE) is a leading exchange group operating equity and derivatives exchanges across North America, Europe, and Asia. ICE Futures Europe, based in the UK, is composed of the former LIFFE and IPE and offers a suite of equity, interest rate, and commodity derivatives, many of which are international benchmarks.

[[https://www.theice.com/futures-europe|Homepage]]

Currency: Swiss Franc (CHF), Euro (EUR), British Pound (GBP)

[[https://www.theice.com/publicdocs/Trading_Schedule.pdf | Holiday Hours]]

===== Contracts =====

1. [[https://www.theice.com/products/38527986/Three-Month-Euribor-Futures|3 Month Euribor Futures]]

2. [[https://www.theice.com/products/37650324/Three-Month-Euro-Swiss-Franc-Euroswiss-Futures|3 Month Euroswiss Futures]]

3. [[https://www.theice.com/products/37650330/Three-Month-Sterling-Short-Sterling-Future|3 Month Sterling Futures]]

4. [[https://www.theice.com/products/219/Brent-Crude-Futures|Brent Crude Futures]]

5. [[https://www.theice.com/products/38716764/FTSE-100-Index-Future | FTSE 100 Index Futures]]

6. [[https://www.theice.com/products/37650336/Long-Gilt-Future | Long Gilt Futures]]

7. [[https://www.theice.com/products/34361119/Low-Sulphur-Gasoil-Futures|Low Sulphur Gasoil Futures]]

8. [[https://www.theice.com/products/910/UK-Natural-Gas-Futures|UK Natural Gas Futures]]

9. [[https://www.theice.com/products/213/WTI-Crude-Futures|WTI Crude Futures]]

==== Trading Summary ====

Please familiarize yourself with the expiration dates of contracts and their universal month codes, which can be found on the [[http://www.cmegroup.com/product-codes-listing/month-codes.html|Contract Month Codes]] page.

The symbology format is as follows: 

XXX\MYY

Where:

  * XXX: 1-character ICE product code, e.g., **Z**
  * M: month code, e.g., **Z**
  * YY: year code (last two digits of the year), e.g., **19**

For example, the FTSE 100 Index Futures contract expiring on December 19, 2019, would be: **Z\Z19**

==== Order Types ====

  * Limit Buy/Sell→ShortSell (Day/IOC)
  * Market Buy/Sell→ShortSell (Day/IOC)

==== Basic Market Rules ====

  * Lot Size: 1 contract.
  * Tick Size: varies by contract.
  * Short Sale Rules: short selling is allowed, and no mark or locates are required for shorting.
  * Circuit Breakers: Interval Price Limits (“IPL”) prevent large price movements in one direction within a given period of time. This protects the market from price spikes caused by cascading stops, multiple limit or market orders. IPLs have upper and lower limits which are reset periodically, not after each trade. If a bid or offer crosses the IPL, it will trigger a market hold. During the hold, the market is prevented from further movement in that direction for a specific period of time. During this time trading is still permitted in the opposite direction. Once the hold comes to an end, a new IPL is calculated and the market can continue in either direction.
    * For more information, you can see the [[https://www.theice.com/publicdocs/How_the_ICE_Market_Works.pdf|How the ICE Market Works]] and the [[https://www.theice.com/publicdocs/technology/IPL_Circuit_Breaker.pdf|ICE Circuit Breakers]] documents. 


===== Additional Info =====

For more information, see the [[https://www.theice.com/futures-europe/regulation#rules|Rules and Regulation]] page.

===== See Also =====

  * [[market_guides|Market Guides]]