- Trading Screen Product Name
- Crude Diff Futures (balmo)
- Trading Screen Hub Name
- Argus WTS/WTI Trade Month
- Contract Symbol
AVS
- 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 "Gulf coast
and midcontinent domestic", 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 2 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