Events Calendar

Oct 2018
S M T W T F S
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3


The UAE Federal Feedback Gateway

Emirates Energy Award

PUBLICATION:


Fixing will be published by 11.00 am on each UAE business day.

CALCULATION METHODOLOGY:- FIXING DEFINITION

For each maturity, the rates are sorted in ascending order.

The TWO highest and the TWO lowest rates ( in total, four rates) will be discarded and remainder will be averaged, using the arithmetic mean of values.

The resulting rates will be rounded to 5 decimal places.

If a bank does not input its suggested rates on a given day, then the rates provided by it on the previous business day will be used for fixing purposes. This will be done only when the quorum ( as defined below) is met. A record of each bank's input history will be maintained by the system and this record will be reviewed at ESC's review meetings

Fixing and its publication:

The Fixing will be calculated from the data provided by the contributing banks and published by 11:00 am each day. The CBUAE will publish the data on its website (www.centralbank.ae) and will also transmit to Thomson Reuters and Bloomberg for further publication to broader market participants.

Trading Days:

For the purposes of this Fixing, trading days (or "value days") are every day except Friday and UAE banking holidays. In case of a trading day being declared a banking holiday then the trading day (value day) is automatically rolled over to the next business day for banks.

Business days and weekends:

Business days are any days other than Friday on which banks are open for usual business in the United Arab Emirates.

Insufficient quorum of Contributing Banks:

If less than 8 Contributing Banks provide contributions by 10.30 am then the CBUAE will publish the Fixing published on the last UAE business day.

        

Last Updated on 12, July 2018