- Trading Screen Product Name
- Crude Diff Futures
- Trading Screen Hub Name
- WTI Bullet/Brent Bullet
- Contract Symbol
TIB
- 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
Trading shall end one Business Day prior to the Expiration Date of
the ICE Brent Crude Futures Contract
- 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 equal to the difference between the settlement prices as made public by ICE for the WTI Futures contract and the same month of the ICE Brent Futures contract on the expiry day.
- 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 60 consecutive months
- Final Payment Date
One Business Day following the Last Trading Day
- Business Days
ICE Business Days
- MIC Code
- IFED
- Clearing Venues
- ICEU