Trade[XYZ] said its DIESEL perpetual contract went live Oct. 1, adding year-round, leveraged exposure to New York Harbor diesel prices through a market with up to 10x leverage.
The reference is New York Harbor ultra-low sulfur diesel (ULSD), valued in dollars for each U.S. gallon. Trade[XYZ] said the market is available at all hours throughout the year. The contract offers exposure to price changes; it does not transfer ownership of diesel or arrange physical fuel deliveries.
New York Harbor ULSD futures provide a price reference for diesel, heating oil and jet fuel. For comparison, CME Group’s ULSD futures represent a 42,000-gallon lot, with a per-gallon price in U.S. dollars and cents. Those details describe CME’s futures product and do not specify the size or trading terms of Trade[XYZ]’s perpetual contract.
