Crude Diff - Daily Urals Med (Platts) vs Dated Brent (Platts) Future61989095

Description

A cash settled future based on the difference between the Platts daily assessment price for Urals Med and the Platts daily assessment price for Dated Brent.

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
Daily Urals MED (Platts)/Dated Brent (Platts)
Commodity Code
DUN
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 ($0.001) per barrel
Last Trading Day
Second Business Day after the nominal contract date
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the “Mid” quotations appearing in “Platts Crude Oil Marketwire” under the heading “Russian Urals/ESPO spot assessments ($/barrel)” for “Urals RCMB (Recombined)” and the “Mid” quotations appearing in “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/barrel)” for “Brent (Dated)” 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
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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

*Next Day

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

Codes

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