ICE Brent Crude Futures
CONTRACT SPECIFICATIONS
| ICE Brent Crude Futures | |
|---|---|
| Trading Screen Product Name | Brent Crude Futures |
| Trading Screen Hub Name | North Sea |
| Contract Symbol | B |
| Contract Size | 1,000 barrels |
| Unit of Trading | Any multiple of 1,000 barrels |
| Currency | US Dollars and cents |
| Trading Price | One cent ($0.01) per barrel |
| Settlement Price | One cent ($0.01) per barrel |
| Minimum Price Fluctuation | One cent ($0.01) per barrel |
| Expiration Date | Trading shall cease at the end of the designated settlement period on the last Business Day of the second month preceding the relevant contract month (e.g. the March contract month will expire on the last Business Day of January). If the day on which trading 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 |
| Daily Settlement | The weighted average price of trades during a two minute settlement period from 19:28:00, London time. |
| Daily Margin | All open contracts are marked-to-market daily. |
| Contract Series | Up to 156 consecutive months, or as otherwise determined by the Exchange. |
| Trading Methods | Electronic futures, Exchange of futures for physical (EFP), Exchange of futures for swap (EFS) and Block Trades |
| Delivery/Settlement Terms | The ICE Brent Crude futures contract is a deliverable contract based on EFP delivery with an option to cash settle against the ICE Brent Index price for the last trading day of the futures contract. |
| MIC Code | IFEU |
| Clearing Venues | ICEU |
| Trading Hours | New York: 8:00 PM – 6:00 PM* (Pre-Open 7:45 PM) London: 1:00 AM – 11:00 PM (Pre-Open 12:45 AM) Singapore: 8:00 AM – 6:00 AM* (Pre-Open 7:45 AM) *Next Day; Sunday pre-open 10:00 PM and Sunday open 11:00 PM (London Local Time) |
