- Trading Screen Product Name
- Crude Diff Futures
- Trading Screen Hub Name
- Argus Bakken (Clearbrook)
- Contract Symbol
BAK
- Contract Size
1,000 barrels
- Unit of Trading
Any multiple of 1,000 barrels
- Currency
US Dollars and cents
- Trading Price Quotation
One cent ($0.01) per barrel
- Settlement Price Quotation
One tenth of one cent ($0.001) per barrel
- Minimum Price Fluctuation
One tenth of one cent ($0.001) per barrel
- Last Trading Day
Trading shall cease one Canadian business day prior to the Notice
of Shipments (NOS) date on the Enbridge Pipeline. The NOS date
occurs on or about the 20th calendar day of the month, subject to
confirmation by Enbridge Pipeline. The official schedule for the
NOS dates will be made publicly available by Enbridge Pipeline
prior to the start of each year
- Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
- Final Settlement
In respect of final settlement, the Floating Price will be a price
in USD and cents per barrel based on the average of the high and
low quotations appearing in the "Argus Crude" report under the
heading " US Gulf coast and midcontinent pipeline", subheading
“Diff low” and “Diff high” for "Bakken",
basis “CMA Nym” for each business day (as specified
below) in the determination period
- Contract Series
Up to 60 consecutive months
- Final Payment Date
Two Clearing House Business Days following the Last Trading Day
- Business Days
Publication days for Argus Crude
- MIC Code
- IFED
- Clearing Venues
- ICEU