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Description

The EU-Style WTI Future is used for the purposes of settling the EU-Style WTI Option.

Market Specifications

Trading Screen Product Name

Crude Futures

Trading Screen Hub Name

WTI Euro Option (Cash Settled)

Contract Symbol

WUL

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 two Business Days prior to the Expiration Date of the ICE WTI Crude Futures contract, i.e. 6th US business day prior to the 25th calendar day of the month preceding the contract month. If the 25th calendar day of the month is not a US business day the final trading day shall be the trading day which is the 7th US business day preceding the 25th calendar day of the month preceding the contract month. (A US business day is a day on which NYMEX is open for business.)

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

The reference price will be a price in USD and cents per barrel equal to the settlement price of the ICE WTI Bullet Swap Future (WTB) for the contract month. For these purposes "settlement price" means the 3rd to last business day prior to the Last Trading Day of the ICE WTI Futures contract month.

Contract Series

Up to 36 consecutive months

Final Payment Date

Two Clearing House Business Days following the Last Trading Day

Business Days

Publication days for ICE

MIC Code

IFED

Clearing Venues

ICEU

Related Products

• WTI Crude Futures

Trading Hours

Codes