The NYMEX Brent Crude Oil Index used for final settlement of the NYMEX Brent Crude Oil Contract will be based on cash market information collected by Argus Media, ICIS-LOR, and Reuters during the regular trading hours on termination day from 10:00 AM to 7:30 PM, London/Dublin time.  The Exchange will utilize only cargo cash deals done and price indications, and will average the following three components:

• Weighted Average of front-month 21-day Brent-Forties-Oseberg (BFO) cash market transactions:  prices on market transactions for BFO cargoes for the front-month, the same contract-month which is terminating trading in the futures market.
• Implied front-month price based on spread trading between the first and second months forward:  an implied weighted average front-month price based on cash BFO cargo transactions for the second-month forward and spreads between the front-month and second-month cash BFO cargo deals.