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Brent Crude Oil Futures Contract Specs

Product Symbol BB
Venue CME Globex, CME ClearPort
Hours
(All Times are New York Time/ET)
CME Globex Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
CME ClearPort Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Contract Unit 1,000 barrels
Price Quotation U.S. dollars and cents per barrel
Minimum Fluctuation $0.01 per barrel
Floating Price The Floating Price is equal to the Brent Crude Oil (ICE) Futures 1st nearby contract settlement price on the penultimate trading day for the delivery month.
Termination of Trading For contract months up to and including the February 2016 contract, trading shall cease one business day prior to the termination of the Brent futures contract, i.e., two business days before the fifteenth calendar day prior to the first day of the delivery month, if the fifteenth calendar day is not a holiday or weekend in London. If the fifteenth calendar day is a holiday or weekend in London, trading shall end three business days prior to the last business day preceding the fifteenth calendar day. Effective with the March 2016 contract, the last trading day will be the business day preceding the last UK business day of the second month preceding the contract month, except for the business day preceding New Year's Day, where trading shall cease on the third UK business day preceding New Year's Day.
Listed Contracts The current year and the next 8 consecutive calender years. At the expiration of the December contract month, a new, full year shall be added.
Settlement Type Financial
Settlement Procedure Daily NYMEX Brent Crude Oil Futures Settlement Procedure (PDF)
Final NYMEX Brent Crude Oil Penultimate Financial Futures Settlement Procedure (PDF)
Position Limits NYMEX Position Limits
Rulebook Chapter 692
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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