Daily CFD - Dated Brent vs First Month BFOE Swap

ICE OTC

A cash settled swap based on the difference between Platts Dated Brent and the first listed Platts BFOE month.

Trading Screen Product Name: Crude Diff Futures
Trading Screen Hub Name: Brent Bullet CFD/1st 1000bbl
Rule Number: 1370
Contract Symbol: BSM
Contract Size: 1,000 barrels
Unit of Trading: Any multiple of 1,000 barrels
Currency: US Dollars and cents
Trading Price Quotation: One cent ($0.01) per barrel
Last Trading Day: Second Business Day after the nominal contract date
Final Settlement: In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the "Mid" quotations appearing in “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/barrel)” for “Brent (Dated)” and the average of the "Mid" quotations for the “Spot Crude Assessment” for “Brent” for the first quoted month for each Business Day that both are determined during the contract month.
Contract Series: 130 days, or as otherwise determined by the SEF
Final Payment Date: Five (5) New York Business Days after each settlement date via wire transfer of Federal funds
Business Days: Publication days for Platts Crude Oil Marketwire
Other Terms: To be confirmed directly between the parties in their full form of contract. The terms reflected in such contracts shall be controlling.
MIC Code: ICES
Clearing Venues: Bilateral

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