ICE Futures Europe

Crude Diff - Brent 1st Line vs Dubai 1st Line (Platts) Balmo Future

Crude Diff - Brent 1st Line vs Dubai 1st Line (Platts) Balmo Future31687079

Description

A balance of the month cash settled future based on the difference between the ICE settlement price for Brent 1st Line and the Platts daily assessment price for prompt month Dubai Crude.

Market Specifications

Trading Screen Product Name
Crude Diff Futures (balmo)
Trading Screen Hub Name
Brent 1st Line/Dubai 1st Line (Platts)
Commodity Code
BOH
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 tenth of one cent ($0.001) per barrel
Minimum Price Fluctuation
One tenth of one cent ($0.001) per barrel
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the settlement prices as made public by ICE for the front month Brent Crude Futures and the average of the “Mid” quotations appearing in “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/barrel)” for “Dubai” prompt month for each business day (as specified below) in the determination period.

Non-Common Pricing applies.
Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent Futures specified in the Floating Price terms above will be used except for the expiration date of the commodity's underlying delivery month's futures contract. On such date, the applicable pricing quotation will be rolled to the following month's futures contract
Contract Series
Up to 2 consecutive months
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for Platts Crude Oil Marketwire and ICE
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:05 PM
19:50 - 18:05
7:40 PM
19:40
London12:50 AM - 11:05 PM
00:50 - 23:05
12:40 AM
00:40
Singapore8:50 AM - 7:05 AM
08:50 - 07:05
8:40 AM
08:40

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Crude Diffs
Physical
BOH
Logical
BOH
GMI(FC)
R&N A.C.N.