Crude Diff - Brent 1st Line vs Dubai 1st Line Future6753344

Description

A monthly cash settled future based on the difference between the ICE daily settlement price for Brent 1st Line and the Platts daily assessment price for prompt Dubai.

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
Brent 1st Line/Dubai 1st Line
Commodity Code
BOD
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 ($0.001) per barrel
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the settlement prices as made public by ICE for the Brent 1st Line Swap Future contract and the average of the mean of the high and low quotations appearing in "Platts Crude Oil Marketwire" under the heading "Key benchmarks ($/bbl)" for "Dubai" prompt month for each Business Day in the determination period. Non Common pricing.
Contract Series
Up to 72 consecutive months
Final Payment Date
One Business Day following the Last Trading Day
Business Days
UK Business Days
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
Singapore8:50 AM - 7:00 AM
08:50 - 07:00
8:40 AM
08:40
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Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Crude Diffs
Physical
BOD
Logical
BOD
GMI(FC)
BO
R&N A.C.N.
SF34