This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ICE Futures Europe Announces Successful Transition Of Brent Crude Oil Futures And Options To New Expiry Calendar

Stocks in this article: ICE

LONDON, Dec. 10, 2013 /PRNewswire/ -- ICE Futures Europe, a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE), the leading global network of exchanges and clearing houses today announced the successful completion of the transition of ICE Brent futures, options and related derivatives instruments to a new, 'month-ahead' expiry calendar

The expiry calendar for ICE Brent futures changed from a 15 day basis to a month ahead basis after market close on December 6, for the March 2016 contract month onwards.  The transition involved 37 member firms and 1,540 open positions, representing 124,000 contracts and 124 million barrels.

Using pre-determined formulae, ICE Clear Europe adjusted open positions in Brent futures, options and related derivatives by making a cash adjustment, transferring funds between holders of long and short positions. The cash adjustment was designed to minimise gains or losses that could otherwise have arisen from the change in expiry calendar. For non-ICE cleared OTC contracts, ICE has supported and assisted the International Swaps and Derivatives Association (ISDA) with the legal processes associated with the transition.   

As of the market open on Monday December 9, ICE Brent contracts in March 2016 contract months onwards, are trading with a 'month-ahead' expiry calendar, with the same contract specifications and contract codes. Movement of positions required by customers has been minimised accordingly.

David Peniket, President and COO, ICE Futures Europe said: "We have been consulting with market and industry participants for the last two years on the most appropriate approach for transitioning to a new Brent expiry calendar. We would like to thank our customers for their efforts in completing this transition, helping to ensure that Brent continues to evolve to reflect developments in the underlying physical markets and further strengthening its role as the world's leading crude oil benchmark."

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs