- Trading Screen Product Name
- Crude Diff Futures (Trade Month)
- Trading Screen Hub Name
- Argus WTL Mid/WTI Trade Month
- Contract Symbol
MTD
- 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 "Texas",
subheading “Diff weighted average” for "WTL Midland"
(1st month), for each business day (as specified below) in the
determination period.
The average of the WTL Midland (1st month) differential weighted
average (Diff weighted average) price taken from Argus Media, is
based upon the weighted average floating price of WTL Midland 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 72 consecutive months
- Business Days
ICE Business Days
- MIC Code
- IFED
- Clearing Venues
- ICEU