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Just worth noting a couple developments re:.....>

OIL
OIL: Just worth noting a couple developments re: negative pricing matters over
the last hour or so:
- ICE to prepare Brent options contracts for negative strike pricing, if there
is market demand to do so, per BBG.
- CME "will switch the (oil) options pricing and valuation model to Bachelier to
accommodate negative prices in the underlying futures and allow for listing of
option contracts with negative strikes for the set of products specified in the
link below. The switch will be effective for the margin cycle run at the end of
trading tomorrow April 22, 2020 and will remain in place until further notice."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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