EU-Style Brent Future6753486

Description

The EU-Style Brent Future is used for the purposes of settling the EU-Style Brent Option

Market Specifications

Trading Screen Product Name
Crude Futures
Trading Screen Hub Name
Brent Euro Option (Cash Settled)
Commodity Code
BUL
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 three Business Days prior to the Expiration Date of the ICE Brent Crude Futures contract.

If the day on which trading in the relevant EU-Style Brent Future is due to cease would be either: (i) the Business Day preceding Christmas Day, or (ii) the Business Day preceding New Year’s Day, then trading shall cease on the next preceding Business Day
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
The reference price will be a price in USD and cents per barrel equal to the settlement price of the ICE Brent Bullet Swap Future (BNB) for the contract month. For these purposes "settlement price" means the 3rd to last day prior to the Last Trading Day of the ICE Brent Crude Futures contract month.
Contract Series
Up to 36 consecutive months
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for ICE
MIC Code
IFEU
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:05 PM
19:50 - 18:05
7:40 PM
19:40
London12:50 AM - 11:05 PM
00:50 - 23:05
12:40 AM
00:40
Singapore8:50 AM - 7:05 AM
08:50 - 07:05
8:40 AM
08:40
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Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Crude Outrights
Physical
BUL
Logical
BRN
GMI(FC)
BU
R&N A.C.N.
SG26