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Description

ICE Three Month NIBOR® Index Futures is a cash settled future based on NIBOR for a three month deposit.

Market Specifications

Trading Screen Product Name

ICE Three Month NIBOR Futures

Trading Screen Hub Name

ICEU

Contract Symbol

NIB

Unit of Trading

NOK 25,000 * Rate Index

Delivery Month

March, June, September, December such that 16 delivery months are available for trading.

Last Trading Day

12:00 (CET) - Two Business days prior to the third Wednesday of the delivery month.

Quotation

100.00 minus the numerical value of the rate of interest

Minimum Price Fluctuation

All delivery months: 0.00250 (NOK 62.50)

Algorithm

Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with a time-weighting of 2 and with priority given to the first order at the best price subject to a minimum order size (collar) and limited to a maximum order size (cap).

Exchange Delivery Settlement Price

100 - 3M NIBOR on the Last Trading Day

Wholesale Trade Types

Basis trading, Block Trading, Asset Allocation

Contract Standard

Cash settlement based on the Exchange Delivery Settlement Price.

Disclaimer

Norske Finansielle Referanser AS (NoRe) NIBOR makes no warranty, express or implied, either as to the results to be obtained from the use of NIBOR and / or the figure at which NIBOR stands at any particular time on any particular day or otherwise.

NoRe NIBOR makes no express or implied warranties of merchantability or fitness for a particular purpose for use with respect to the product and excludes all liability for any loss of business or profits or for any direct, indirect or consequential loss or damage arising from use of the NIBOR.

MIC Code

IFLL

Clearing Venues

ICEU

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Trading Hours

Codes