- 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 each day an ICE
Futures Brent Crude Weekly Options contract is made available.
- Option Style
The option is an American-style option which can be exercised on
any business day prior to and until expiration day.
- Option Premium / Daily Margin
Due to futures-style margining, option premiums are not
paid/received at the time of the transaction. Rather margins are
paid/received every day according to the changing value of the
option. The total value to be paid/received is only known when the
position is closed (by an opposing sale/purchase, exercise or
expiry). The buyer never pays more margin than the cost of the
premium. All open contracts are marked-to-market daily.
- Expiry
ICE Brent Crude Weekly American-style Options will be exercised
into the corresponding ICE Brent Crude Futures contract. 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
This contract will support Custom Option Strikes of $0.01/bbl above
and below the at-the-money Strike Price. Strike price boundaries
are adjusted 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 day for an ICE Futures Brent
Crude Weekly Options contract coincides with the scheduled
cessation of trading of the monthly ICE Futures Brent Crude Options
contract then that Weekly Option will be exercisable into the
second month ICE Brent Crude Oil Futures contract.
If the scheduled cessation of trading day is not a Business Day
then the relevant ICE Futures Brent Crude Weekly Options contract
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