| Trading Unit | 1,000 U.S. barrels (42,000 gallons) |
|---|---|
| Price Quotation | U.S. dollars and cents per barrel |
| Trading Hours |
Electronic trading is open from 1600 North American Central Standard Time / Central Daylight Time (CST/CDT) Sundays and from 1645 CST/CDT Monday to Thursday and closes at 1600 CST/CDT the next day, Monday to Friday.
Singapore is 14 hours ahead of CST and Dubai is 10 hours ahead. The time difference is reduced by one hour when CDT is in effect. Neither Dubai nor Singapore observe Daylight Savings Time. |
| Trading Months | 36 months |
| Minimum Price Fluctuation | $0.01 (1) per barrel ($10.00 per contract) |
| Maximum Daily Price Fluctuation | None |
| Daily Settlement Price |
(A) The Floating Price for each contract month is the arithmetic average of the Brent Crude Oil (ICE) Futures first nearby contract marker price using the one minute Singapore marker price minus the arithmetic average of the GME Oman Crude Oil Futures first nearby contract Marker Price calculated as of 16:30 (Singapore time) each Trading Day during the contract month (using non-common pricing), except as noted in (B) below.
(B) The marker price of the first nearby contract month will be used except on the last day of trading for the expiring Brent Crude Oil (ICE) Futures contract when the one minute Singapore marker price of the second nearby ICE Brent Futures contract will be used. |
| Final Settlement Price | Final settlement, following termination of trading for a contract month, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract month. |
| Last Trading Day | Trading in the nearby Contract Month shall cease on the last Trading Day of the contract month. |
| Settlement Type | Financial |
| Rulebook Chapter | Chapter 19 – Brent (Singapore Marker) vs. GME Oman Crude Oil Futures |
| Governing Law | English Law |
| Holidays | Please visit the GME holiday calendar at Calender Page |
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