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ICE OTC

Daily CFD - Dated Brent vs First Month BFOE Swap

Description

A cash settled swap based on the difference between Platts Dated Brent and the first listed Platts BFOE month.

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
Brent Bullet CFD/1st 1000bbl
Rule Number
1370
Contract Symbol
BSM
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 1,000 barrels
Currency
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Last Trading Day
Second Business Day after the nominal contract date
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the "Mid" quotations appearing in “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/barrel)” for “Brent (Dated)” and the average of the "Mid" quotations for the “Spot Crude Assessment” for “Brent” for the first quoted month for each Business Day that both are determined during the contract month.
Contract Series
130 days, or as otherwise determined by the SEF
Final Payment Date
Five (5) New York Business Days after each settlement date via wire transfer of Federal funds
Business Days
Publication days for Platts Crude Oil Marketwire
Other Terms
To be confirmed directly between the parties in their full form of contract. The terms reflected in such contracts shall be controlling.
MIC Code
ICES
Clearing Venues
Bilateral

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

Codes

Clearing Admin Name
Crude Diffs
Physical
Logical
GMI (FC)
8S
ION A.C.N.
Symbol Code
BFM