DME Brent Crude Oil Financial Contract
(ZO)
Trading Unit
1,000 U.S. barrels (42,000 gallons)
Price Quotation
U.S. dollars and cents per barrel
Trading Symbol
ZO
Trading Hours
Electronic trading is conducted
from 6:00 pm until 5:15 pm
New York
time via the DME Direct® trading platform, Sunday
through Friday.
There is a 45-minute break each day between 5:15
pm
New York time
(current trade date) and 6:00 pm
New York
time (next trade date)
.
Trading Week
The Trading week will start at 6:00 pm Sunday (New York
time) and will end at 5:15 pm Friday (New York time).
Trading Months
Up to 78 months will be listed, including 72 consecutive months and
June and December contracts for 3 additional years.
Minimum Price Fluctuation
$0.01 (1˘) per barrel ($10.00 per contract)
Maximum Daily Price Fluctuation
None
Floating Price
The floating price for each contract month is equal to the first nearby month
daily settlement price that is determined by ICE for Brent Crude Futures
Contract on the last trading day for the ICE Brent Crude Futures Contract for
the corresponding delivery month.
Final Settlement Price
Delivery under the contract shall be by cash settlement. The final settlement
price following termination of trading for a contract month will be the floating
price for that contract month. The Exchange shall publish the final settlement
price on the last day of trading in
that contract month. The final settlement price will be used for purposes of
margins for cash settlement.
Last Trading Day
Trading shall cease on the last trading day of the ICE Brent Crude Futures
Contract for the corresponding delivery month, i.e. on the trading day
immediately preceding the fifteenth (15th) day prior to the first day
of that delivery month, if the fifteenth (15th) day is a business day
in London, otherwise trading shall cease on the trading contract on the last
trading day for the ICE Brent Crude Day immediately preceding the first London
business day prior to the fifteenth (15th) day.
Settlement Type
Financial
Privacy Policy