ICE Brent Futures
Deliverable and cash-settled ways to trade Brent crude oil on ICE Futures Europe.
ICE Brent Futures gives market participants two ways to trade Brent crude oil prices on ICE Futures Europe. ICE Brent Crude Futures are deliverable, based on EFP (Exchange for Physical) delivery, with an option to cash settle against the ICE Brent Index. ICE Brent 1st Line Futures are monthly cash-settled contracts based on the ICE daily settlement price for Brent Futures.
Both contracts are for 1,000 barrels and are priced in US dollars and cents. Each offers up to 156 consecutive contract months, and trading runs almost around the clock across the Asian, European and American time zones. Market participants can choose the contract that fits their needs, whether that is physical-linked exposure or a monthly average price settled in cash.
Key Benefits
- Flexible Settlement Options
- Choose between ICE Brent Crude Futures, which are deliverable via EFP with an option to cash settle, and ICE Brent 1st Line Futures, which are settled entirely in cash.
- Choose between ICE Brent Crude Futures, which are deliverable via EFP with an option to cash settle, and ICE Brent 1st Line Futures, which are settled entirely in cash.
- Transparent Price Discovery
- ICE Brent Crude Futures settle daily at the weighted average price of trades during a two-minute settlement period starting at 19:28:00, London time.
- ICE Brent Crude Futures settle daily at the weighted average price of trades during a two-minute settlement period starting at 19:28:00, London time.
- Monthly Average Price Exposure
- ICE Brent 1st Line Futures settle against the average of the front-month ICE Brent Crude Futures settlement prices over the contract month, which can suit participants who price against a monthly average.
- ICE Brent 1st Line Futures settle against the average of the front-month ICE Brent Crude Futures settlement prices over the contract month, which can suit participants who price against a monthly average.
- Long-Dated Contract Series
- Up to 156 consecutive months are listed for both contracts, so positions can be managed across short-term and long-term horizons.
- Up to 156 consecutive months are listed for both contracts, so positions can be managed across short-term and long-term horizons.
- Extended Trading Hours
- Both contracts trade from about 8:00 AM to 6:00 AM (next day) Singapore time, so traders can respond to market moves across global time zones.
- Both contracts trade from about 8:00 AM to 6:00 AM (next day) Singapore time, so traders can respond to market moves across global time zones.
ICE Brent Crude Futures (contract symbol: B) are deliverable, based on EFP delivery, with an option to cash settle against the ICE Brent Index price for the last trading day. Each contract is for 1,000 barrels, with a minimum price fluctuation of one cent ($0.01) per barrel. Daily settlement is the weighted average price of trades during a two-minute settlement period starting at 19:28:00, London time.
Trading stops at the end of the settlement period on the last Business Day of the second month before the relevant contract month. For example, the March contract expires at the end of January. Up to 156 consecutive months are listed, or as otherwise determined by the Exchange.
Source: ICE
ICE Brent 1st Line Futures (contract symbol: I) are monthly cash-settled contracts based on the ICE daily settlement price for Brent Futures. Final settlement is based on the average of the settlement prices for the front-month ICE Brent Crude Futures contract on each business day in the determination period.
Each contract is for 1,000 barrels, with a minimum price fluctuation of one tenth of one cent ($0.001) per barrel. The Last Trading Day is the last trading day of the contract month, and final payment is made two Clearing House Business Days after it. Up to 156 consecutive months are listed, or as otherwise determined by the Exchange.
Source: ICE
This advertisement has not been reviewed by the Monetary Authority of Singapore.
