ICE Crude Diff – Permian WTI 1st Line vs Brent 1st Line

A monthly cash settled future based on the ICE settlement price for Permian WTI 1st Line Future and the ICE settlement price for Brent 1st Line Future.
Crude Diff – Permian WTI 1st Line vs Brent 1st Line Futures	Crude Diff – Permian WTI 1st Line vs Brent 1st Line Futures 	Crude Diff – Permian WTI 1st Line vs Brent 1st Line Futures 	Crude Diff – Permian WTI 1st Line vs Brent 1st Line Futures
Trading Screen Product Name 	Crude Diff Futures 	Crude Diff Futures 	Crude Diff Futures
Trading Screen Hub Name 	Permian WTI 1st Line/Brent 1st Line 	Permian WTI 1st Line/Brent 1st Line 	Permian WTI 1st Line/Brent 1st Line
Contract Symbol 	HOV 	HOV 	HOV
Contract Size 	1,000 barrels 	1,000 barrels 	1,000 barrels
Unit of Trading 	Any multiple of 1,000 barrels 	Any multiple of 1,000 barrels 	Any multiple of 1,000 barrels
Currency 	US Dollars and cents 	US Dollars and cents 	US Dollars and cents
Trading Price Quotation 	One cent ($0.01) per barrel 	One cent ($0.01) per barrel 	One cent ($0.01) per barrel
Settlement Price Quotation 	One tenth of one cent ($0.001) per barrel 	One tenth of one cent ($0.001) per barrel 	One tenth of one cent ($0.001) per barrel
Minimum Price Fluctuation 	One tenth of one cent ($0.001) per barrel 	One tenth of one cent ($0.001) per barrel 	One tenth of one cent ($0.001) per barrel
Last Trading Day 	Last Trading Day of the contract month 	Last Trading Day of the contract month 	Last Trading Day of the contract month
Floating Price 	In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products. 	In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products. 	In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement 	In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the settlement prices as made public by ICE for the front month Permian WTI Future and the average of the settlement prices as made public by ICE for the front month ICE Brent Future for each business day (as specified below) in the determination period.	In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the settlement prices as made public by ICE for the front month Permian WTI Future and the average of the settlement prices as made public by ICE for the front month ICE Brent Future for each business day (as specified below) in the determination period.	In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the settlement prices as made public by ICE for the front month Permian WTI Future and the average of the settlement prices as made public by ICE for the front month ICE Brent Future for each business day (as specified below) in the determination period.
Roll Adjust Provision 	In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent Crude Futures specified in the Floating Price terms above will be used except for the expiration date of the commodity's underlying delivery month's futures contract. On such date, the applicable pricing quotation will be rolled to the following month's futures contract. 	In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent Crude Futures specified in the Floating Price terms above will be used except for the expiration date of the commodity's underlying delivery month's futures contract. On such date, the applicable pricing quotation will be rolled to the following month's futures contract. 	In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent Crude Futures specified in the Floating Price terms above will be used except for the expiration date of the commodity's underlying delivery month's futures contract. On such date, the applicable pricing quotation will be rolled to the following month's futures contract.
Contract Series 	Up to 96 consecutive months 	Up to 96 consecutive months 	Up to 96 consecutive months
Final Payment Date 	Two Clearing House Business Days following the Last Trading Day 	Two Clearing House Business Days following the Last Trading Day 	Two Clearing House Business Days following the Last Trading Day
Business Days 	ICE Business Days 	ICE Business Days 	ICE Business Days
MIC Code 	IFED 	IFED 	IFED
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	7:50 PM - 6:00 PM*
19:50 - 18:00 	7:40 PM
19:40
Trading Hours 	LONDON 	12:50 AM - 11:00 PM*
00:50 - 23:00 	12:40 AM
00:40
Trading Hours 	SINGAPORE 	8:50 AM - 7:00 AM
08:50 - 07:00 	8:40 AM
08:40
Trading Hours 	Sunday Pre-Open 5:10 PM ET; Closed on Saturday 	Sunday Pre-Open 5:10 PM ET; Closed on Saturday 	Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes 	Clearing Admin Name 	Am Crude Diffs 	Am Crude Diffs
Codes 	Physical 	HOV 	HOV
Codes 	Logical 	HOV 	HOV
Codes 	GMI (FC) 	O- 	O-
Codes 	ION A.C.N. 	None 	None
== Notes ==
==References==
==Resources==
ICE Crude Diff – Permian WTI 1st Line vs Brent 1st Line Product Spec
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