East Sour Crude Futures: Contract Specification

The specifications for East sour crude futures are:
Trading Hours: Trading opens at 23:00 Sunday night London local time, 18:00 New York time and 06:00 Singapore time.

Units of Trading: Traded in lots of 1,000 barrels.

Minimum Price Fluctuation: The minimum fluctuation is one cent per barrel, or a tick value of $ 10.

Maximum Price Fluctuation: No limit to maximum fluctuation.

Contract Listings: 37 successive months are listed by the exchange. Contracts for the calendar year and quarter are also listed.

Last Trading Day: Trading ceases at 16:30 local Singapore time (08:30 GMT/09: 30 BST) on the last trading day two months prior to the contract month.

Clearing: The Clearing House guarantees the financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a member who is a member of the Clearing House.

Settlement: Mid East sour crude futures is settled with cash against the mid-point of the bid / offer prices for the relevant contact month in Dubai.