ICE NYSE CONTACT WEBICE LOGIN ICE About Solutions Resources Insights Search Return to Product List Product Spec Data Expiry Details Margin Rates ICE Markets Expiry Calendar New enhancements to our digital expiry calendar help you easily access important information for the markets you trade. View now Energy Crude Oil And Refined Products ICE FUTURES ABU DHABI Murban Crude Oil Futures Download Description The Murban Crude Oil Future is a physically delivered contract, basis FOB Fujairah (ADNOC) loading terminal, UAE. The contract will provide users with an effective hedging instrument for Arab Gulf crude oil and other grades trading into the Asia Pacific Region. The underlying physical market is for Murban crude oil available without the local Abu Dhabi resale restriction. Market Specifications Trading Screen Product Name Murban Crude Futures Trading Screen Hub Name Abu Dhabi Product Murban Crude Oil, as defined in the Exchange and Clearing House rules. Contract Symbol ADM Contract Size 1,000 barrels Unit of Trading Any multiple of 1,000 barrels Currency US Dollars and cents Trading Price Quotation One cent ($0.01) per barrel Settlement Price Quotation One cent ($0.01) per barrel Minimum Price Fluctuation One cent ($0.01) per barrel Last Trading Day Trading in the prompt delivery month shall cease at 16:30 Singapore Prevailing Time on the last Trading Day of the second month preceding the delivery month. If the day on which trading is due to cease is the Trading Day preceding New Year’s Day, then trading shall cease on the next preceding Trading Day. Daily Settlement The Daily Settlement Price will be published at 19:30 London Prevailing Time every Trading Day with the exception of the Last Trading Day where no such prices for the expiring contract month will be published. The Daily Settlement Price is the volume weighted average price of trades between 19:28 and 19:30 London Prevailing Time, or as determined by the Exchange, as detailed within the Trading Procedures of the IFAD Rulebook. Exchange Delivery Settlement Price The final settlement price, as determined by the Exchange on the Last Trading Day of the expiring contract month, will be the Marker Price published at 16:30 Singapore Prevailing Time and shall be the basis for delivery. Markers The Exchange will publish daily Marker Prices at 16:30 Singapore Prevailing Time and 16:30 London Prevailing Time (or as otherwise determined and communicated by the Exchange from time to time). Each Marker will be a volume weighted average price of trades in the one minute preceding the marker time and will be published for the front three contract months. There will be no Marker Price published at 16:30 London Prevailing Time on the Last Trading Day for the expiring contract month. Delivery Date Delivery shall commence no earlier than the first Terminal Loading Day of the delivery month and no later than the third Terminal Loading Day prior to the end of the said delivery month. Delivery shall be completed within the delivery month. Delivery Methods Delivery shall be made by the Seller to the Buyer on a F.O.B. basis at the Fujairah (ADNOC) loading terminal and shall be made in accordance with all applicable State and local laws and regulations. Delivery is to be made into Buyer’s Vessel during the delivery month. A loading volume tolerance of plus or minus 0.2% of the contract volume is permitted. There is no specified minimum quantity of Murban Crude Oil to be delivered for the purposes of this Contract. However, parties should be made aware that in relation to each Vessel the Terminal Operator imposes a minimum loading requirement (which may be amended from time to time) of two hundred thousand (200,000) Barrels for deliveries at the Terminal. For the purposes of complying with the minimum limit imposed by the Terminal Operator, Members may co-load Barrels resulting from over the counter (OTC) transactions with Exchange traded transactions relating to the Contract. Contract Series Up to 48 consecutive months Business Days ICE business days MIC Code IFAD Clearing Venues ICEU Related Products BRENT CRUDE FUTURES CRUDE OUTRIGHT - MURBAN 1ST LINE FUTURE CRUDE DIFF - MURBAN 1ST LINE VS BRENT 1ST LINE FUTURE CRUDE OUTRIGHT - MURBAN SINGAPORE MARKER 1ST LINE FUTURE CRUDE DIFF - MURBAN SINGAPORE MARKER 1ST LINE VS BRENT SINGAPORE MARKER 1ST LINE FUTURE Trading Hours CITY TRADING PRE-OPEN NEW YORK 8:00 PM - 6:00 PM* 20:00 - 18:00 7:45 PM 19:45 LONDON 1:00 AM - 11:00 PM* 01:00 - 23:00 12:45 AM 00:45 SINGAPORE 9:00 AM - 7:00 AM* 09:00 - 07:00 8:45 AM 08:45 ABU DHABI 5:00 AM - 3:00 AM* 05:00 - 03:00 4:45 AM 04:45 *Next Day Monday Trading Day: the market will open two hours prior to the times stated in the table Codes Clearing Admin Name Murban Crude Physical ADM Logical ADM GMI (FC) AD Symbol Code ADM About Us Our Business Investors Media Careers Corporate Citizenship ICE Exchanges Fixed Income & Data Services Mortgage Technology Futures & Options Trade Clearing Data Benchmarks Reports Contact NYSE List Trade Data Insights Regulation NYSE Connect Subscriptions Media Center Contact Follow Us NYSE ICE ICE Data Services © Copyright 2021 Intercontinental Exchange, Inc. 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