Crude Diff - WTI vs Brent Bullet Future6753437
ICE Futures U.S.
Crude Diff - WTI vs Brent Bullet Future
Description
A monthly cash settled future based on the difference between the ICE daily settlement price for WTI Futures contract and the ICE daily settlement price for Brent Futures contract.
Market Specifications
- Trading Screen Product Name
- Crude Diff Futures
- Trading Screen Hub Name
- WTI Bullet/Brent Bullet
- Contract Symbol
- TIB
- 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
- 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
- Trading shall end one Business Day prior to the Expiration Date of the ICE Brent Crude Futures Contract
- 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 equal to the difference between the settlement prices as made public by ICE for the WTI Futures contract and the same month of the ICE Brent Futures contract on the expiry day.
- 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 60 consecutive months
- Final Payment Date
- One Business Day following the Last Trading Day
- Business Days
- ICE Business Days
- MIC Code
- IFED
- Clearing Venues
- ICEU
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 |
*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- Am Crude Diffs
- Physical
- TIB
- Logical
- TIB
- GMI (FC)
- U-
- ION A.C.N.
- Symbol Code
- TIB