Crude Diff - Platts East Siberian Pacific Ocean (ESPO) Diff Future6753374

Description

A monthly cash settled differential future based on the Platts daily assessment price for East Siberian Pacific Oil (ESPO) Diff to Dubai.

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
Platts East Siberian Pacific Ocean Diff
Commodity Code
ESP
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 ($0.001) per barrel
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the average of the mean of the high and low quotations appearing in "Platts Crude Oil Marketwire" under the heading "Asia-Pacific/Middle East spot crude assessments ($/bbl)" subheading "Light" for "ESPO Diff to Dubai or ICP (Asian MOC)" for each Business Day in the determination period.
Contract Series
Up to 60 consecutive months
Final Payment Date
One Business Day following the Last Trading Day
Business Days
Singapore 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
Singapore7:50 AM - 6:00 AM
07:50 - 06:00
7:40 AM
07:40
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Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

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