Crude Diff - Dated Brent vs Brent 1st Line Future6753361

Description

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

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
Dated Brent/Brent 1st Line
Contract Symbol
DBF
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 ($0.001) per barrel
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement Price
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the mean of the high and low quotations appearing in "Platts Crude Oil Marketwire" under the heading "Key benchmarks ($/bbl)" for "Brent (Dated)" and the average of the settlement prices as made public by the ICE for the Brent 1st Line Swap Future for each Business Day in the determination period. Common Pricing Applies.
Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent 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 Dates
One Business Day following the Last Trading Day
Business Days
UK Business Days
MIC Code
IFEU
Clearing Venues
ICEU
Loading...

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
Loading...

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

Codes

Clearing Admin Name
Crude Diffs
Physical
DBF
Logical
DBF
GMI(FC)
PI
R&N A.C.N.
NM89