- Trading Screen Product Name
- Platts Brent Diff
- Trading Screen Hub Name
- Brent CFD/1st
- Rule Number
1371
- Contract Size
200 barrels
- Unit of Trading
CFD's will trade as weekly packages on the execution platform. Each
weekly contract of 1,000 bbls will be divided into 5 daily
contracts of 200 bbls each. No holidays are observed, and thus,
holiday and publication interruptions, with regard to final
settlement, will be final settled at the average of the applicable
daily prints within the relevant week. Each day in the CFD will
settle independently and sequentially, once the final weekly
average is determined.
- Currency
US Dollars and cents
- Trading Price Quotation
One cent ($0.01) per barrel
- Last Trading Day
Eight calendar days following the nominal contract day.
- Final Settlement
In respect of final settlement, the Floating Price will be a price
in USD and cents per barrel based on the difference between the
average of the "Mid" quotations appearing in “Platts Crude
Oil Marketwire” under the heading “Key benchmarks
($/barrel)” for “Brent (Dated)” and the average
of the "Mid" quotations for the “Spot Crude Assessment”
for “Brent” for the first quoted month for each
Business Day that both are determined during the contract month.
- Contract Series
130 consecutive Days, or as otherwise determined by the SEF
- Final Payment Date
Five (5) New York Business Days after each settlement date via wire
transfer of Federal funds
- Business Days
Publication days for Platts Crude Oil Marketwire
- Other Terms
To be confirmed directly between the parties in their full form of
contract. The terms reflected in such contracts shall be
controlling.
- MIC Code
- ICES
- Clearing Venues
- Bilateral