- Trading Screen Product Name
- Crude Diff Futures (Trade Month)
- Trading Screen Hub Name
- Argus Bakken Cushing/WTI Trade Month
- Contract Symbol
BAF
- 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
- Final Settlement
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 pipeline”, subheading
“Diff” for “Bakken Cushing” for each
business day (as specified below) in the determination period
The determination period shall be 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, or as otherwise determined by the
Exchange
- Final Payment Date
Two Clearing House Business Days following the Last Trading Day
- Position Limit
Specified in Table 2 to Chapter 19—see IFUS website
- Business Days
Publication days for Argus Crude
- MIC Code
- IFED
- Clearing Venues
- ICEU