Fastmarkets and ICE launch used cooking oil futures contract to fulfill rising biofuel demand
LONDON, Dec. 9, 2024 /PRNewswire/ — Fastmarkets and Intercontinental Change (ICE) are excited to announce the launch of the ICE Used Cooking Oil (UCO) Gulf (Fastmarkets) Futures contract to fulfill rising demand and sort out complexity within the biofuel feedstock market.
At the moment’s launch gives market members with a brand new risk-management resolution within the renewable power sector. It’s also a great selection for these trying to achieve publicity to UCO value actions with out the necessity for bodily supply.
Fastmarkets’ US Gulf-based UCO evaluation displays the first market area for UCO commerce, capturing the broadest knowledge pool crucial for correct market pricing. This ensures convergence between the futures value and the spot value at contract expiry, additional bolstering confidence in market operations.
Przemek Koralewski, Fastmarkets’ international head of market improvement, stated :
With the elevated volumes and variety of stakeholders within the UCO market, now could be the proper time to introduce a futures contract that may help in efficient threat administration,
“This contract will present market members with a classy device to handle their value publicity, guaranteeing stability and supporting long-term strategic planning.”
The launch of the ICE UCO futures contract is designed to assist members throughout the biofuel provide chain, together with feedstock suppliers, refiners, merchants, monetary establishments and biodiesel producers.
Jeff Barbuto, international head of oil markets at ICE, stated :
Liquidity in ICE’s biofuel complicated has been rising quickly over the previous couple of years,
“We’re excited to work with Fastmarkets so as to add to the momentum and additional develop the UCO market.”
Ryan Customary, Fastmarkets’ regional managing editor, added:
The ICE UCO futures contract represents a major development within the biofuel feedstock market.
“By providing a dependable benchmark tied to our complete value assessments, ICE and Fastmarkets are facilitating transparency and value discovery within the business.”
For extra info, go to Fastmarkets and the ICE Futures listings at Biodiesel Outright – US Gulf Coast Used Cooking Oil (Fastmarkets) Future.
READ the newest information shaping the biofuels market at Biofuels Central
Fastmarkets and ICE launch used cooking oil futures contract to fulfill rising biofuel demand, supply
