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Description

A daily cash settled future based on the difference between Platts daily assessment price for CPC Blend CIF Med Cargoes and the Platts daily assessment price for Dated Brent (CPC Dated Brent strip).

Market Specifications

Trading Screen Product Name

Crude Diff Futures

Trading Screen Hub Name

Daily CPC Blend CIF (Platts)/Dated Brent (Platts)

Contract Symbol

DCW

Contract Size

1,000 barrels

Unit of Trading

Any multiple of 1,000 barrels

Currency

US Dollars and cents

Trading Price Quotation

One tenth of one cent ($0.001) 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

Last Trading Day of the contract month

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 based on the “Mid” quotations appearing in the “Platts Crude Oil Marketwire” under the heading “Mediterranean spot crude assessments ($/barrel)” subheading “Black Sea” and “Spread vs fwd Dated Brent” for “CPC Blend CIF” for each business day that both are determined during the contract period.

Contract Series

Up to 130 consecutive days

Final Payment Date

Two Clearing House Business Days following the Last Trading Day

Business Days

Publication days for Platts Crude Oil Marketwire

MIC Code

IFEU

Clearing Venues

ICEU

Related Products

• Crude Diff - CPC Blend CIF (Platts) vs Dated Brent (Platts) Future
• Crude Diff - CPC Blend CIF Med Cargoes (Platts) vs Dated Brent (Platts) Balmo Future
• CPC Blend CIF (Platts) Future

Trading Hours

Codes