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Brent (Singapore Marker) Futures Contract Specs

Product Symbol IBS
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 U.S. dollars and cents per barrel
Minimum Fluctuation $0.001 per barrel
Floating Price (A) The Floating Price for each contract month is the arithmetic average of the ICE Brent Crude Oil Futures first nearby contract marker price using the one minute Singapore marker price, 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 ICE Brent Crude Oil Futures contract when the one minute Singapore marker price of the second nearby ICE Brent Futures contract will be used.
Termination of Trading Trading shall cease on the last business day of the contract month
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: 18 consecutive months
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 1122
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.