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| Trading Unit |
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| A Brent Average Price Option is a cash settled option. On expiration of a call option, the value will be the difference between the settlement price of the Underlying Brent Calendar Swap contract and the strike multiplied by 1,000, or zero, whichever is greater. On expiration of a put option, the value will be the difference between the strike price and the settlement price of the Underlying Brent Calendar Swap multiplied by 1,000 barrels, or zero, whichever is greater. |
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| Price Quotation |
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| U.S. dollars and cents per barrel. |
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| Strike Price Intervals |
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| Ten strike prices in increments of $0.50 (50¢) per barrel per above and below the at-the-money strike price. Strike price boundaries are adjusted according to futures price movements. |
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| Minimum Price Fluctuation |
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| $0.01 (1¢) per barrel ($10.00 per contract). |
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| Trading Hours |
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Open outcry trading is conducted from 9:00 AM to 2:30 PM
The contract is also available for trading on the NYMEX ClearPort® trading platform from 6:00 PM Sundays through 5:15 PM Fridays, with a 45-minute break each day between 5:15 PM and 6:00 PM. Off-Exchange transactions can be submitted solely for clearing to the NYMEX ClearPort® clearing website as an exchange of futures for swaps (EFS) or exchange of futures for physicals (EFP) transaction until 5:15 PM, Monday through Friday, and the day preceding a holiday. |
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| Trading Months |
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| Up to 72 consecutive months on an annual basis (balance of current year plus five full years) and then June and December contracts for three additional years. |
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| Last Trading Day |
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| A Brent Crude Oil Average Price Option on the Exchange shall expire at the close of trading on the last business day of the calendar month. The expiration date shall be announced prior to the listing of the option contract.
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| Trading Symbols |
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| BA |
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