ICE OTC

Platts Dubai Swap

Platts Dubai Swap33971689

Description

A monthly cash settled swap based on the Platts daily assessment price for Dubai Crude.

Market Specifications

Trading Screen Product Name
Platts Dubai
Trading Screen Hub Name
Swaps
Rule Number
13173
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 50,000 barrels
Currency
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Last Trading Day
Last Trading Day of the contract month
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the average of the mean of the high and low quotations appearing in "Platts Crude Oil Marketwire" under the heading "Key benchmarks ($/bbl)" for "Dubai" prompt month for each business day (as specified below) in the determination period.
Contract Series
Up to 60 consecutive months, or as otherwise determined by the SEF
Final Payment Date
Fourteen (14) Calendar Days after each settlement date via wire transfer or 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
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
Singapore7:50 AM - 6:05 AM
07:50 - 06:05
7:40 AM
07:40

Codes

Clearing Admin Name
Dubai Swaps
Physical
Logical
GMI(FC)
R&N A.C.N.