Crude Diff - WTI 1st Line vs Brent 1st Line Future6753347

Description

A monthly cash settled future based on the ICE daily settlement price for WTI 1st Line Future and the ICE daily settlement price for Brent 1st Line Future.

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
WTI 1st Line/Brent 1st Line
Commodity Code
BTD
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 Business 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 front month WTI 1st Line Swap Future contract and the average of the settlement prices as made public by ICE for the front month ICE Brent 1st Line Swap Future contract for each Business Day in the determination period.
Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent Crude Futures specified in the Floating Price terms above will be used except for the expiration date of the commodity's underlying delivery month's futures contract. On such date, the applicable pricing quotation will be rolled to the following month's futures contract.
Contract Series
Up to 72 consecutive months
Final Payment Date
One Business Day following the Last Trading Day
Business Days
ICE Business Days
Linked Future
Yes
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

*Next Day

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

Codes

Clearing Admin Name
Crude Diffs
Physical
BTD
Logical
BTD
GMI(FC)
BT
R&N A.C.N.
QH57