ICE Futures U.S.

Crude Diff - Argus WTI Houston vs Argus WTI Midland Trade Month Future

Crude Diff - Argus WTI Houston vs Argus WTI Midland Trade Month Future65898859

Description

A monthly cash settled future based on the difference between the Argus daily assessment price for WTI Houston (1st Month) Weighted Average and the Argus daily assessment price for WTI Midland (1st Month) Weighted Average.

Market Specifications

Trading Screen Product Name
Crude Diff Futures (Trade Month)
Trading Screen Hub Name
Argus WTI Houston/Argus WTI Mid
Commodity Code
MSN
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 difference between the average of the quotations appearing in the "Argus Crude" report under the heading "US Gulf Coast and Midcontinent" subheading “WTI” for "WTI Houston" (1st Month) Weighted Average and the average of the quotations appearing in the "Argus Crude" report under the heading "US Gulf Coast and Midcontinent" subheading “WTI” for "WTI Midland" (1st Month) Weighted Average for each business day (as specified below) in the determination period.

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
MIC Code
IFED
Clearing Venues
ICEU

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

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

Codes

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