ICE Futures Europe

Daily CFD - Dated Brent (Platts) vs Third Month BFOE (Platts) Future

Daily CFD - Dated Brent (Platts) vs Third Month BFOE (Platts) Future32857605

Description

A cash settled future based on the difference between Platts daily assessment price for Dated Brent and Platts daily assessment price for the third Cash BFOE month.

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
Brent Bullet CFD/3rd 1000bbl (Platts)
Commodity Code
BUM
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 ($0.001) per barrel
Last Trading Day
Second Business Day after the nominal contract date
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the "Mid" quotations appearing in “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/barrel)” for “Brent (Dated)” and the average of the "Mid" quotations appearing in “Platts Crude Oil Marketwire” under the heading "Key benchmarks ($/barrel)” for "Brent" for the third quoted month for each business day that both are determined during the contract 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