Crude Diff - Argus WTS vs WTI Trade Month Future31687077

Description

A cash settled future based on the difference between the Argus daily assessment price for WTS (1st Month) and the Argus daily assessment price for WTI Formula Basis (1st Month).

Market Specifications

Trading Screen Product Name
Crude Diff Futures (Trade Month)
Trading Screen Hub Name
Argus WTS/WTI Trade Month
Commodity Code
AVT
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 at the close of trading on the last business day that falls on or before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, trading shall cease on the first business day prior to the 25th calendar day.
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 quotations appearing in the "Argus Crude" report under the heading "US Gulf coast and midcontinent pipeline", subheading “Diff weighted average” for "WTS" (1st month), for each business day (as specified below) in the determination period. The average of the WTS (1st month) differential weighted average (Diff weighted average) price taken from Argus Media, is based upon the weighted average floating price of WTS minus the “WTI Formula Basis” price from Argus Media, for the Trade month period beginning with the first business day after the 25th calendar day two months prior to the contract month through the last business day that falls on or before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, the Trade month period shall end on the first business day prior to the 25th calendar day.

Common Pricing applies.
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
Linked Future
Yes
MIC Code
IFEU
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 AM - 7:00 AM*
08:50 - 07:00
8:40 AM
08:40

*Next Day

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Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Crude Diffs
Physical
AVT
Logical
AVT
GMI(FC)
R&N A.C.N.