Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 20 views

    ProductSpec - 219 - ICE Brent

    Uploaded by

    ahanx9
    The document provides specifications for the ICE Brent Crude futures contract traded on ICE Futures Europe. Some key details include: - The contract is for 1,000 barrels of Brent crude oil and is cash settled against the ICE Brent Index price. - It trades in US dollars and cents per barrel and expires on the last business day of the second month preceding the contract month. - ICE Clear Europe acts as the central counterparty and guarantees the financial performance of all registered contracts. - Daily settlement is based on a weighted average price of trades during a two minute period late in the trading day.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    ProductSpec - 219 - ICE Brent

    Uploaded by

    ahanx9
    20 views3 pages
    The document provides specifications for the ICE Brent Crude futures contract traded on ICE Futures Europe. Some key details include: - The contract is for 1,000 barrels of Brent crude oil and is cash settled against the ICE Brent Index price. - It trades in US dollars and cents per barrel and expires on the last business day of the second month preceding the contract month. - ICE Clear Europe acts as the central counterparty and guarantees the financial performance of all registered contracts. - Daily settlement is based on a weighted average price of trades during a two minute period late in the trading day.

    Original Description:

    Futures ICE Brent Specifications

    Original Title

    ProductSpec_219 - ICE brent

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document provides specifications for the ICE Brent Crude futures contract traded on ICE Futures Europe. Some key details include: - The contract is for 1,000 barrels of Brent crude oil and is cash settled against the ICE Brent Index price. - It trades in US dollars and cents per barrel and expires on the last business day of the second month preceding the contract month. - ICE Clear Europe acts as the central counterparty and guarantees the financial performance of all registered contracts. - Daily settlement is based on a weighted average price of trades during a two minute period late in the trading day.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    20 views3 pages

    ProductSpec - 219 - ICE Brent

    Uploaded by

    ahanx9
    The document provides specifications for the ICE Brent Crude futures contract traded on ICE Futures Europe. Some key details include: - The contract is for 1,000 barrels of Brent crude oil and is cash settled against the ICE Brent Index price. - It trades in US dollars and cents per barrel and expires on the last business day of the second month preceding the contract month. - ICE Clear Europe acts as the central counterparty and guarantees the financial performance of all registered contracts. - Daily settlement is based on a weighted average price of trades during a two minute period late in the trading day.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    ICE Futures Europe

    Nov 29, 2023

    Brent Crude Futures

    Contract Specifications

    The ICE Brent Crude futures contract is a deliverable contract based on EFP
    Description
    delivery with an option to cash settle.

    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

    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).
    Expiration Date
    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

    ICE Help Desk: Atlanta + 1 770 738 2101, London + 44 (0)20 7488 5100 or ICEHelpdesk@ice.com
    Contract Specifications

    ICE Clear Europe acts as the central counterparty for trades conducted on
    the London exchanges. This enables it to guarantee the financial
    performance of every contract registered with it by its members (the clearing
    Contract Security members of the exchanges) up to and including delivery, exercise and/or
    settlement. ICE Clear Europe has no obligation or contractual relationship
    with its members' clients who are non-member users of the exchange
    markets, or non-clearing members of the exchanges.

    The weighted average price of trades during a two minute settlement period
    Daily Settlement
    from 19:28:00, London time.

    Daily Margin All open contracts are marked-to-market daily.

    The Brent crude future is a cash-settled contract. The Exchange's daily


    position management regime requires that all positions in any contract month
    must be reported to the exchange on a daily basis. The Exchange has
    powers to prevent the development of excessive positions or unwarranted
    Position Limit
    speculation or any other undesirable situation and may take any steps
    necessary to resolve such situations including the ability to mandate
    members to limit the size of such positions or to reduce positions where
    appropriate

    The Exchange may impose limits on positions in this contract at its discretion
    in accordance with Exchange Rule P3.

    Current expiry limit: 7,000 contracts in the last five business days, up to and
    including the expiry day in the spot month, inclusive of futures-equivalent
    Expiry Limits
    position in Brent Options.

    Exemptions from expiry limits may be granted at the Exchange’s discretion to


    participants who provide and document a commercial rationale for their
    requirement

    Contract Series Up to 96 consecutive months

    Electronic futures, Exchange of futures for physical (EFP), Exchange of


    Trading Methods
    futures for swap (EFS) and Block Trades are available for this contract.

    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
    Delivery/Settlement Terms last trading day of the futures contract. The Exchange shall publish a cash
    settlement price (the ICE Brent Index price) on the next trading day following
    the last trading day for the contract month.

    ICE Help Desk: Atlanta + 1 770 738 2101, London + 44 (0)20 7488 5100 or ICEHelpdesk@ice.com
    Contract Specifications

    "NCR: 0.50;
    RL: 0.75
    NCR, RL and IPL Levels IPL: 1.00, 3 second recalculation and 5 second hold periods.

    To access NCR documentation click here

    TAS (Trade at Settlement)


    Markers MM (Minute Marker)
    Sing MM (Singapore Minute Marker)

    Business Days ICE Business Days

    ICE Help Desk: Atlanta + 1 770 738 2101, London + 44 (0)20 7488 5100 or ICEHelpdesk@ice.com

    You might also like