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Brent options trading disrupted by Ice expiry date shift

Proposals to ensure convergence between futures and physical Brent cause firms to avoid trading long-dated options

money
Ice is proposing a compensation mechanism of cash payments

Proposals unveiled by Atlanta-based Ice to shift the expiration dates of North Sea Brent crude oil futures and options – the exchange's latest attempt to remedy a long-standing disconnect between Brent futures and the physical market – have damaged liquidity in long-dated Brent options, market participants say.

The proposals, which Ice detailed in a September 9 circular, would move the expiration

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