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ICE Futures U.S.

Condensate Diff - ICE C5 1A Index Future

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Description

For contract months up to and including March 2019: A monthly cash settled future based on the ICE C5 (Canadian Condensate) Monthly Volume Weighted Average Price Index (ICE C5 1a). The ICE C5 1a Index is expressed as a differential to the NYMEX WTI 1st Line Future (Calendar Month Average). For contract months including and after April 2019: A monthly cash settled future based on the ICE C5 FSK Monthly Volume Weighted Average Price Index (ICE C5 FSK 1a). The ICE C5 FSK 1a Index is expressed as a differential to the NYMEX WTI 1st Line Future (Calendar Month Average).

Market Specifications

Trading Screen Product Name
Crude Futures
Trading Screen Hub Name
ICE C5 1a Index
Contract Symbol
TMF
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 1,000 barrels
Currency
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Settlement Price Quotation
One hundredth of one cent ($0.0001) per barrel
Minimum Price Fluctuation
One hundredth of one cent ($0.0001) per barrel
Last Trading Day
Trading shall cease one Canadian business day prior to the Notice of Shipments (NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 20th calendar day of the month, subject to confirmation by Enbridge Pipeline. The official schedule for the NOS dates will be made publicly available by Enbridge Pipeline prior to the start of each year.
Floating Price
In respect of daily settlement, the Floating Price will be the volume-weighted average of the ICE C5 1a Index for each trading day during the same period, as published by ICE-NGX.

For forward months, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products
Final Settlement
A price in USD and cents per barrel based on the ICE C5 1a Index, for contract months up to and including March 2019, and based on the ICE C5 FSK 1a Index for contract months after and including April 2019, as published by ICE-NGX. The index pricing period for each contract month begins on the first Canadian business day of the calendar month prior to the contract month and ends on the Canadian business day prior to the NOS date (as published by Enbridge) in the same calendar month
Contract Series
Up to 60 consecutive months
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for ICE-NGX Crude Oil Markets
MIC Code
IFED
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London11:50 PM - 10:00 PM*
23:50 - 22:00
11:40 PM
23:40
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

Sunday Pre-Open 5:10 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Am Crude Diffs
Physical
TMF
Logical
TMF
GMI (FC)
R6
ION A.C.N.
EH88
Symbol Code
TMF