Brent CFD vs First Month Swap33257737

Description

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

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
Brent CFD/1st
Rule Number
1371
Contract Size
200 barrels
Unit of Trading
CFD's will trade as weekly packages on the execution platform. Each weekly contract of 1,000 bbls will be divided into 5 daily contracts of 200 bbls each. No holidays are observed, and thus, holiday and publication interruptions, with regard to final settlement, will be final settled at the average of the applicable daily prints within the relevant week. Each day in the CFD will settle independently and sequentially, once the final weekly average is determined.
Currency
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Last Trading Day
Eight calendar days following the nominal contract day.
Final Settlement Price
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the "Mid" quotations appearing in “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/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
90 consecutive Days, or as otherwise determined by the SEF
Final Payment Dates
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
IEPA
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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

Codes

Clearing Admin Name
Crude Diffs
Physical
Logical
GMI(FC)
B1
R&N A.C.N.
SF35