ICE Brent 1st Line Futures
CONTRACT SPECIFICATIONS
| ICE Brent 1st Line Futures | |
|---|---|
| Trading Screen Product Name | Crude Futures |
| Trading Screen Hub Name | Brent 1st Line |
| Contract Symbol | I |
| 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 average of the settlement prices as made public by ICE for the front month ICE Brent Crude Futures contract for each business day (as specified below) in the determination period. |
| Roll Adjust Provision | In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent Crude 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 156 consecutive months, or as otherwise determined by the Exchange |
| Final Payment Date | Two Clearing House Business Days following the Last Trading Day |
| Business Days | ICE business days |
| MIC Code | IFEU |
| Clearing Venues | ICEU |
| Trading Hours | New York: 7:50 PM – 6:00 PM* (Pre-Open 7:40 PM) London: 12:50 AM – 11:00 PM (Pre-Open 12:40 AM) Singapore: 7:50 AM – 6:00 AM* (Pre-Open 7:40 AM) *Next Day; Sunday Pre-Open 5:10 PM ET; Closed on Saturday |
