- Trading Screen Product Name
- Crude Diff Futures (Trade Month)
- Trading Screen Hub Name
- Argus Bakken (Patoka)
- Contract Symbol
PAB
- 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 “Diff weighted
average” appearing in the "Argus Crude" report under the
heading " US Gulf Coast and Midcontinent", subheading
“Midcontinent” for “Bakken Patoka”, basis
“CMA Nymex” for each business day (as specified below)
in the determination period.
- 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