Dubai 1st Line Swap

ICE OTC

A monthly cash settled swap based on the Platts daily assessment price for Dubai Crude.

Trading Screen Product Name: Platts Dubai Derivatives
Trading Screen Hub Name: Dubai 1st Line
Rule Number: 13147
Contract Size: 1,000 barrels
Unit of Trading: Any multiple of 1,000 barrels
Currency: US Dollars and cents
Trading Price Quotation: One cent ($0.01) per barrel
Last Trading Day: Last Trading Day of the contract month
Final Settlement: In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the average of the mean of the high and low quotations appearing in "Platts Crude Oil Marketwire" under the heading "Key benchmarks ($/bbl)" for "Dubai" prompt month for each business day (as specified below) in the determination period.
Contract Series: Up to 60 consecutive months, or as otherwise determined by the SEF
Final Payment Date: Fourteen (14) Calendar Days after each settlement date via wire transfer or 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: ICEU

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