FEX ESPO Asia Crude (Argus)

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Quarterly cash settled futures and options based on ESPO blend (East Siberian - Pacific Ocean fob Kozmino) as calculated and published by Argus Media.[1]

FEX ESPO Asia Crude (Argus) - Futures and Options
Contract Unit 1,000 barrels of Oil per contract
Currency USD
Minimum Price Increment (tick size) US$0.01 (US$10.00 per contract)
Contract Months March, June, September, and December for 8 quarters
Contract Code EC
Contract Type Cash settled
Trading Hours Day; 10.00am - 6.30pm

Night; 8.30pm - 7.00am

Last Trading Day 3rd Thursday of the Contract Month, or prior day if not a business day in Sydney
Settlement Date Second business day in Sydney after the Last Trading Day
Expiry Settlement Price The midpoint of the Bid and Ask prices of the ESPO Blend (East Siberian - Pacific Ocean fob Kozmino) as calculated and published by Argus Media
Option Type European
Option Strike Price Intervals Put and Call options, set at intervals of US$0.50, with a minimum of 25 strikes either side of the Underlying Reference Price
Option Settlement Process Options which are "in the money", with respect to Expiry Settlement Price, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike Price. Options which are "out of the money", expire automatically

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