ICE Cairn Energy PLC

Cairn Energy PLC is a UK-based oil and gas exploration and development company with operations in North West Europe, the Atlantic Margin, and the Mediterranean. Cairn was founded in 1980 and entered the London Stock Exchange in 1988.
Additional flexible products may be available for this equity. Please see ICEBlock Only contracts here.
== Business ==
Cairn's business model follows stages of exploration and appraisal, development, and production.
• Exploration and Appraisal: Exploration and appraisal includes finding oil and gas energy sources through methods like seismic surveying and drilling. The company holds exploration acreage offshore Mexico, Suriname, Israel, Côte d’Ivoire and in the UK.
• Development: Development refers to the establishment of assets, like drilling platforms and vessels, so that the energy source can be processed.
• Production: Production looks at longer term (10 - 25 years) processing of energy sources with the aim of creating a cash flow that can be invested into future projects or returned to shareholders.
== Operations ==
Cairn has a business portfolio that operates more specifically in areas in the UK, Mexico, Suriname, Côte d’Ivoire, and Israel.
Production assets are helped by two UK North sea assets, Catcher (Cairn holds a 20% non-operated interest) and Kraken (Cairn holds a 29.5% non-operated interest).
== Subsidiaries ==
Subsidiaries of Cairn Energy PLC include Capricorn Oil Limited, Cairn UK Holdings Limited, Capricorn Spain Limited, Capricorn Malta Limited, Capricorn Greenland Exploration A/S, Capricorn Exploration and Development Company Limited, Capricorn Mauritania Limited, Capricorn Senegal Limited and Capricorn Ireland Limited.
Cairn Energy PLC Futures 	Cairn Energy PLC Futures 	Cairn Energy PLC Futures 	Cairn Energy PLC Futures
Trading Screen Product Name	Cairn Energy 	Cairn Energy 	Cairn Energy
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	CNG 	CNG 	CNG
Unit of Trading 	One option normally equals rights over 1000 shares. Due to corporate action contract adjustments some equity options series may have a non-standard contract size. Details of non-standard contract sizes can be found here	One option normally equals rights over 1000 shares. Due to corporate action contract adjustments some equity options series may have a non-standard contract size. Details of non-standard contract sizes can be found here	One option normally equals rights over 1000 shares. Due to corporate action contract adjustments some equity options series may have a non-standard contract size. Details of non-standard contract sizes can be found here
Quotation 	Pence per share 	Pence per share 	Pence per share
Minimum Price Fluctuation 	0.25 pence per share / £2.50 	0.25 pence per share / £2.50 	0.25 pence per share / £2.50
Last Trading Day 	16:30 London Time. Third Friday in expiry month
*In the event that this day is not a business day, then the Last Trading Day shall normally be the preceding full business day 	16:30 London Time. Third Friday in expiry month
*In the event that this day is not a business day, then the Last Trading Day shall normally be the preceding full business day 	16:30 London Time. Third Friday in expiry month
*In the event that this day is not a business day, then the Last Trading Day shall normally be the preceding full business day
Algorithm 	Price-time trading algorithm with priority given to the first order at the best price. 	Price-time trading algorithm with priority given to the first order at the best price. 	Price-time trading algorithm with priority given to the first order at the best price.
Block Trade Minimum 	250 contracts
Block Trades can be reported up to 17:30 London time on any business day other than the Last Trading Day 	250 contracts
Block Trades can be reported up to 17:30 London time on any business day other than the Last Trading Day 	250 contracts
Block Trades can be reported up to 17:30 London time on any business day other than the Last Trading Day
Exercise 	Exercise by 18:30 London time on any business day 	Exercise by 18:30 London time on any business day 	Exercise by 18:30 London time on any business day
Delivery Months 	Target Group Options* - Serial months out to two years. Longer dated expiries beyond two years with a maximum expiry of five years are available on ICE Block only.
Non Target Group Options* - Serial months out to one year. Longer dated expiries beyond one year with a maximum expiry of five years are available on ICE Block only.
*A list of Target Group and Non Target Options can be found here.	Target Group Options* - Serial months out to two years. Longer dated expiries beyond two years with a maximum expiry of five years are available on ICE Block only.
Non Target Group Options* - Serial months out to one year. Longer dated expiries beyond one year with a maximum expiry of five years are available on ICE Block only.
*A list of Target Group and Non Target Options can be found here.	Target Group Options* - Serial months out to two years. Longer dated expiries beyond two years with a maximum expiry of five years are available on ICE Block only.
Non Target Group Options* - Serial months out to one year. Longer dated expiries beyond one year with a maximum expiry of five years are available on ICE Block only.
*A list of Target Group and Non Target Options can be found here.
Settlement Date 	Settlement Date is two business days following the day of exercise/Last Trading Day. 	Settlement Date is two business days following the day of exercise/Last Trading Day. 	Settlement Date is two business days following the day of exercise/Last Trading Day.
Deliverable Specifications 	Delivery will be 1,000 shares (or other such number of shares as determined by the terms of the contract). 	Delivery will be 1,000 shares (or other such number of shares as determined by the terms of the contract). 	Delivery will be 1,000 shares (or other such number of shares as determined by the terms of the contract).
Option Premium 	Payable in full by the buyer on the business day following a transaction. 	Payable in full by the buyer on the business day following a transaction. 	Payable in full by the buyer on the business day following a transaction.
Additional Information 	In the United States these products may only be offered and sold to prescribed entities under specified conditions. 	In the United States these products may only be offered and sold to prescribed entities under specified conditions. 	In the United States these products may only be offered and sold to prescribed entities under specified conditions.
Stock Exchange 	London Stock Exchange 	London Stock Exchange 	London Stock Exchange
MIC Code 	IFLO 	IFLO 	IFLO
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	3:00 AM - 11:30 AM
03:00 - 11:30 	None
Trading Hours 	LONDON 	8:00 AM - 4:30 PM
08:00 - 16:30 	None
Trading Hours 	SINGAPORE 	4:00 PM - 12:30 AM
16:00 - 00:30 	None
Codes 	Clearing Admin Name 	LSE Master 	LSE Master
Codes 	Physical 	CNG 	CNG
Codes 	Logical 	CNG 	CNG
Codes 	GMI (FC) 	None 	None
Codes 	ION A.C.N. 	None 	None
== Notes ==
==References==
==Resources==
ICE Cairn Energy PLC Product Spec
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