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Brent (Euro Denominated) Financial Futures Contract Specs

Product Symbol IBE
Venue CME Globex, CME ClearPort and Open Outcry (New York)
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)
Open Outcry: Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT)
Contract Unit 1,000 barrels
Price Quotation Euros and euro cents per barrel
Minimum Fluctuation €0.001 per barrel
Floating Price (A) The Floating Price for each contract month is equal to the arithmetic average of the Brent Crude Oil (ICE) Futures 1st nearby contract settlement prices, except as set forth in Section (B) below, for each business day that it is determined during the contract month. The Floating Price shall be converted into Euros and Euro cents using the arithmetic average of the daily European Central Bank Euro/US Dollar foreign exchange reference rate.

(B) The settlement price of the 1st nearby contract month will be used except on the last day of trading for the expiring Brent Crude Oil (ICE) Futures contract when the settlement price of the 2nd nearby Brent Crude Oil (ICE) Futures contract will be used.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts Current year and next 8 consecutive calendar years.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 1055
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.