- Trading Screen Product Name
- Brent Crude Weekly
- Trading Screen Hub Name
- North Sea
- Contract Symbol
WAB
- Hedge Instrument
The delta hedge for the Brent Crude Weekly American-style Option is
the ICE Brent Crude Future (B).
- 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 cent ($0.01) per barrel
- Minimum Price Fluctuation
One cent ($0.01) per barrel
- Last Trading Day
Trading shall cease at the end of the designated settlement period
of the ICE Futures Brent Crude Futures Contract on Friday. If
Friday is not a Business Day then trading shall cease on the first
Business Day immediately preceding the Friday. However, if any
weekly expiry coincides with the scheduled cessation of trading of
the ICE Futures Brent Crude Oil Monthly American-style Option
Contract then the Weekly Option will not be made available for
trading.
- Option Style
The option is an American-style option which can be exercised on
any business day prior to and until expiration day.
- Expiry
ICE Brent Crude Weekly American-style Options will be exercised
into ICE Brent Crude Futures contracts. On expiry day, automatic
exercise settings are pre-set to exercise contracts which are one
minimum price fluctuation or more in-the-money with reference to
the corresponding daily settlement price at the designated
settlement time as determined by the Exchange.
- Strike Price Intervals
At launch multiples of .01 per barrel ranging from a strike of $1
to a strike of $240. Additional strike prices are added according
to futures price movements.
The at-the-money strike price is the closest interval nearest to
the previous business day's settlement price of the underlying
contract.
- Contract Series
Four consecutive weeks
If the scheduled cessation of trading of the ICE Futures Brent
Crude Oil Monthly American-style Options contract is on a Monday,
Tuesday, Wednesday or Thursday, then the Weekly Option expiring
that same week will be exercisable into the second month ICE Brent
Crude Oil Futures contract.
If the scheduled cessation of trading of the ICE Futures Brent
Crude Oil Monthly American-style Options contract is on a Friday,
then the Weekly Option will not be made available for trading.
If Friday is not a Business Day then trading shall cease on the
first business day immediately preceding the Friday. However, if
the first business day immediately preceding the Friday coincides
with the scheduled cessation of trading of the ICE Futures Brent
Crude Oil Monthly American-style Option Contract then the Weekly
Option will not be made available for trading.
If the day on which trading in the relevant option is due to cease
would be either: (i) the Business Day preceding Christmas Day, or
(ii) the Business Day preceding New Year’s Day, then the
Weekly Option will not be made available for trading.
- Final Payment Date
Two Clearing House Business Days following the Last Trading Day
- Business Days
ICE Business Days
- MIC Code
- IFEU
- Clearing Venues
- ICEU