ICE Futures Europe

Crude Diff - Dated Brent vs Dubai 1st Line Future

Crude Diff - Dated Brent vs Dubai 1st Line Future6753417

Description

A monthly cash settled future based on the difference between the Platts daily assessment price for Dated Brent and the Platts daily assessment price for prompt month Dubai.

Market Specifications

Trading Screen Product Name
Crude Diff Futures
Trading Screen Hub Name
Dated Brent/Dubai 1st Line
Commodity Code
PDD
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 ($0.001) per barrel
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the mean of the high and low quotations appearing in "Platts Crude Oil Marketwire" under the heading "Key benchmarks ($/bbl)" for "Brent (Dated)" and the average of the mean of the high and low quotations appearing in the "Platts Crude Oil Marketwire" under the heading "Key benchmarks ($/bbl)" for the prompt month "Dubai" for each Business Day in the determination period. Non-Common Pricing Applies.
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

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

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

Codes

Clearing Admin Name
Crude Diffs
Physical
PDD
Logical
PDD
GMI(FC)
ZS
R&N A.C.N.
1294