Weekly CFD - Dated Brent vs First Month BFOE Swap33257737
ICE OTC
Weekly CFD - Dated Brent vs First Month BFOE Swap
Description
A cash settled swap based on the difference between the Platts daily assessment price for Dated Brent and the first listed Platts BFOE month.
Market Specifications
- Trading Screen Product Name
- Platts Brent Diff
- Trading Screen Hub Name
- Brent CFD/1st
- Rule Number
- 1371
- Contract Size
- 200 barrels
- Unit of Trading
- CFD's will trade as weekly packages on the execution platform. Each weekly contract of 1,000 bbls will be divided into 5 daily contracts of 200 bbls each. No holidays are observed, and thus, holiday and publication interruptions, with regard to final settlement, will be final settled at the average of the applicable daily prints within the relevant week. Each day in the CFD will settle independently and sequentially, once the final weekly average is determined.
- Currency
- US Dollars and cents
- Trading Price Quotation
- One cent ($0.01) per barrel
- Last Trading Day
- Eight calendar days following the nominal contract day.
- Final Settlement
- In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the "Mid" quotations appearing in “Platts Crude Oil Marketwire” under the heading “Key benchmarks ($/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 consecutive 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
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 7:50 AM - 6:00 AM* 07:50 - 06:00 | 7:40 AM 07:40 |
Codes
- Clearing Admin Name
- Crude Diffs
- Physical
- Logical
- GMI (FC)
- CD
- ION A.C.N.
- QJ69
- Symbol Code
- CFD