- Trading Screen Product Name
- Middle East Sour Crude Futures
- Trading Screen Hub Name
- Middle East
- Trading Hours
Open time on Monday morning/Sunday is 23:00 London (local time), 18:00 New York, 06:00 Singapore.
- Units of Trading
One or more lots of 1,000 barrels.
- Minimum Price Flux
One cent per barrel, equivalent to a tick value of $10.
- Maximum Price Flux
There are no limits
The Clearing House guarantees financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a Member who is a member of the Clearing House.
- Contract Listing
37 consecutive months will be listed Calendar Year and Quarter Contracts will also be listed for the entirety of the forward curve.
- Last Trading Day
Trading shall cease at 16:30 hours local Singapore time (08:30 hours GMT/09:30 hours BST) on the last trading day of the second month preceding the contract month (i.e. the July contract month will expire on the last trading day of May). If that day is a public holiday in Singapore (or for any other reason determined by the Exchange), trading shall cease on the next preceding trading day, for which a cash settlement price is available (or any other day determined by the Exchange at its sole discretion).
ICE Middle East Sour Crude Futures is a cash settled Contract. It cash settles against the mid-point of the Dubai bid/offer prices for the relevant contact month assessed at the Singapore market close at 16:30 Singapore local time and reported under the heading "Key benchmarks ($/bbl)" in the issue of Platts Crude Oil Marketwire on the last day of trading of the relevant contract month. (Please note that the mid-point will not be rounded and therefore may be quoted to three decimal places.)
- MIC Code
- Clearing Venue