Crude Diff - Argus Bakken (Clearbrook) Crude Oil Future28659496
ICE Futures U.S.
Crude Diff - Argus Bakken (Clearbrook) Crude Oil Future
Description
A monthly cash settled future based on the Argus daily assessment price for the Bakken basis Clearbrook. The Argus Bakken (Clearbrook) Crude Oil Future is expressed as a differential to the WTI 1st Line Swap Future (Calendar Month Average)
Market Specifications
- Trading Screen Product Name
- Crude Diff Futures
- Trading Screen Hub Name
- Argus Bakken (Clearbrook)
- Contract Symbol
- BAK
- 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 one Canadian business day prior to the Notice of Shipments (NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 20th calendar day of the month, subject to confirmation by Enbridge Pipeline. The official schedule for the NOS dates will be made publicly available by Enbridge Pipeline prior to the start of each year
- 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 high and low quotations appearing in the "Argus Crude" report under the heading " US Gulf coast and midcontinent pipeline", subheading “Diff low” and “Diff high” for "Bakken", basis “CMA Nym” for each business day (as specified below) in the determination period
- 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
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 8:50 AM - 7:00 AM* 08:50 - 07:00 | 8:40 AM 08:40 |
*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- Am Crude Diffs
- Physical
- BAK
- Logical
- BAK
- GMI (FC)
- X#
- ION A.C.N.
- Symbol Code
- BAK