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ICE Futures Europe

Weekly CFD - Dated Brent (Platts) vs First Month BFOE (Platts) Future

Description

A cash settled future based on the difference between Platts daily assessment price for Dated Brent and Platts daily assessment price for the first Cash BFOE month.

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
Brent CFD/1st
Contract Symbol
CFD
Contract Size
200 barrels
Unit of Trading
CFD’s will trade as weekly packages on the execution platform. Each weekly contract of 1,000 bbls will be divided into 5 daily contracts of 200 bbls each. No holidays are observed, and thus, holiday and publication interruptions, with regard to final settlement, will be final settled at the average of the applicable daily prints within the relevant week. Each day in the CFD will settle independently and sequentially, once the final weekly average is determined. The basis month for the 1st day of pricing will apply throughout the pricing period.
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 ($0.001) per barrel
Last Trading Day
The last Trading Day of the week preceding the week of the nominal contract days.
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward, and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the "Mid" quotations appearing in “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/barrel)” for “Brent (Dated)” and the average of the "Mid" quotations appearing in “Platts Crude Oil Marketwire” under the heading "Key benchmarks ($/barrel)” for "Brent" for the first quoted month for each business day that both are determined during the contract period.
Contract Series
Up to 20 weeks, excluding weeks which commence in one calendar month and end in another calendar month
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
UK Business Days
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York8:50 PM - 7:00 PM
20:50 - 19:00
8:40 PM
20:40
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

Sunday Pre-Open 5:10 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Crude Diffs
Physical
CFD
Logical
CFD
GMI (FC)
CD
ION A.C.N.
QJ69
Symbol Code
CFD