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Description

A balance of the month cash settled future based on the difference between Platts daily assessment price for WTI Midland (DAP Rotterdam) and the Platts daily assessment price for Dated Brent.

Market Specifications

Trading Screen Product Name

Crude Diff Futures (balmo)

Trading Screen Hub Name

WTI Midland (DAP Rdam) (Platts)/Dated Brent (Platts)

Contract Symbol

CGC

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 average of the “Mid” quotations appearing in the “Platts Crude Oil Marketwire” under the heading “US Delivered-Europe Spot Crude Assessments ($/barrel)” subheading “Spread vs fwd Dated Brent” for “WTI Midland (DAP Rotterdam)” for each business day (as specified below) in the determination period.

Contract Series

Up to 2 consecutive months

Final Payment Date

Two Clearing House Business Days following the Last Day in the determination period.

Business Days

Publication days for Platts Crude Oil Marketwire

MIC Code

IFEU

Clearing Venues

ICEU

Related Products

• Crude Diff - Daily WTI Midland (DAP Rotterdam) (Platts) vs Dated Brent (Platts) Future
• Crude Diff - WTI Midland (DAP Rotterdam) (Platts) vs Dated Brent (Platts) Future

Trading Hours

Codes