ICE Futures Europe

Daily Crude Diff - Dated Brent (Platts) vs Mediterranean Dated Strip (Platts) Future

Daily Crude Diff - Dated Brent (Platts) vs Mediterranean Dated Strip (Platts) Future31687081

Description

A cash settled future based on the difference between the Platts Dated Brent assessment and the Platts Mediterranean Dated strip assessment price.

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
Daily Dated Brent (Platts)/Med Dated Strip (Platts)
Commodity Code
DDM
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 ($0.001) per barrel
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the “Mid” quotations appearing in the “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/barrel)” for “Brent (Dated)” and the average of the “Mid” quotations appearing in the “Platts Crude Oil Marketwire” under the heading “Forward Dated Brent ($/barrel)” for “Mediterranean Dated strip” for each business day (as specified below) in the determination period.
Contract Series
130 days
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for Platts Crude Oil Marketwire
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM
00:50 - 23:00
12:40 AM
00:40
Singapore7:50 AM - 6:00 AM
07:50 - 06:00
7:40 AM
07:40

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

Codes

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