Oil market faces tight deadline for Ice Brent protocol

As Ice prepares to shift Brent expiry calendar on December 6, Isda releases protocol to enable orderly transition of OTC market


Oil market participants are being urged to move quickly to sign up to a new protocol aimed at ensuring the market for over-the-counter derivatives on Brent North Sea crude oil undergoes a smooth transition on December 6, when Atlanta-based Ice is set to change the expiration dates for many of its Brent futures and options contracts.

"It's a fairly short window to get people signed up," says Lauren Teigland-Hunt, managing partner of New York-based law firm Teigland-Hunt, which helped draft the

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