ICE Futures Europe

Brent Crude Futures TAP

Brent Crude Futures TAP65898973


The ICE Brent Crude Futures TAP (Trade-at-Assessment-Price) allows a trader to enter an order to buy or sell an eligible ICE Brent Crude Futures contract during the course of the trading day at a price that will be equal to the Floating Price for a specific contract month, or at a differential within the price parameters as determined by the Exchange.

Market Specifications

Trading Screen Product Name
Brent Crude TAPS
Trading Screen Hub Name
North Sea
Commodity Code
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 1,000 barrels
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Settlement Price Quotation
One tenth of one cent ($0.01) per barrel
Minimum Price Fluctuation
One tenth of one cent ($0.01) per barrel
Last Trading Day
Trading shall cease at the end of the designated settlement period on the last Business Day of the second month preceding the relevant contract month (e.g. the March contract month will expire on the last Business Day of January).

If the day on which trading is due to cease would be either: (i) the Business Day preceding Christmas Day, or (ii) the Business Day preceding New Year’s Day, then trading shall cease on the next preceding Business Day
Floating Price
The “Mid” quotations appearing in “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/barrel)” for “Brent” for the relevant quoted month”
Contract Series
Up to 3 consecutive months
Business Days
Publication days for Platts Crude Oil Marketwire
MIC Code
Clearing Venues