- Trading Screen Product Name
- Crude Diff Futures
- Trading Screen Hub Name
- Midland WTI 1st Line/Brent 1st Line
- Contract Symbol
HOV
- 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 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
- 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 settlement prices as made public by ICE for the
front month Midland WTI American Gulf Coast Future and the average
of the settlement prices as made public by ICE for the front month
ICE Brent Future for each business day (as specified below) in the
determination period.
- Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby
month quotation for ICE Brent Crude Futures specified in the
Floating Price terms above will be used except for the expiration
date of the commodity's underlying delivery month's futures
contract. On such date, the applicable pricing quotation will be
rolled to the following month's futures contract.
- Contract Series
Up to 96 consecutive months, or as otherwise determined by the
Exchange
- Final Payment Date
Two Clearing House Business Days following the Last Trading Day
- Business Days
ICE Business Days
- MIC Code
- IFED
- Clearing Venues
- ICEU