Brent Crude Futures219
ICE Futures Europe
Brent Crude Futures
Description
The ICE Brent Crude futures contract is a deliverable contract based on EFP delivery with an option to cash settle.
Market Specifications
- 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 - Contract Security
- 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 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.
- 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.
- Position Accountability and Limit Levels
- Position limits and accountability levels for IFEU products can be found here.
- 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 are available for this contract.
- 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. 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.
- Markers
- Business Days
- ICE Business Days
- MIC Code
- IFEU
- Clearing Venues
- ICEU
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 8:00 PM - 6:00 PM* 20:00 - 18:00 | 7:45 PM 19:45 |
| LONDON | 1:00 AM - 11:00 PM 01:00 - 23:00 | 12:45 AM 00:45 |
| SINGAPORE | 8:00 AM - 6:00 AM* 08:00 - 06:00 | 7:45 AM 07:45 |
*Next Day
Sunday pre-open 10:00 PM and Sunday open 11:00 PM (London Local Time)
Codes
- Clearing Admin Name
- IPE e-Brent
- Physical
- B
- Logical
- BRN
- GMI (FC)
- BC
- ION A.C.N.
- 0952
- Symbol Code
- BRN