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Description

A monthly cash settled mini future based on the ICE daily settlement price for Brent Futures.

Market Specifications

Trading Screen Product Name

Crude Futures

Trading Screen Hub Name

Brent 1st Line Mini

Contract Symbol

IMM

Contract Size

100 barrels

Unit of Trading

Any multiple of 100 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 Futures contract for the month of production.

Roll Adjust Provision

In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent 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 96 consecutive months.

Final Payment Date

Two Clearing House Business Days following the Last Trading Day

Business Days

Publication days for ICE

MIC Code

IFEU

Clearing Venues

ICEU

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Trading Hours

Codes