ICE Futures Europe has opened a formal consultation period with market participants on its proposal to introduce ICE Brent NX (New Expiry) Crude Futures and Options contracts from the February 2013 contract month onwards, Mondovisione reports. The consultation will run till October 21.
The exchange is proposing to introduce the products with an expiry calendar that will align the futures market with the revised 25-day assessment period in the cash and dated Brent crude markets. The first contract expiry month is proposed to be February 2013, with trading commencing in the fourth quarter of 2011.
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