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Description

A monthly cash settled future based on the difference between the Argus daily assessment price for Bakken Cushing Oil (1st Calendar Month) and the ICE daily settlement price for WTI 1st Line Future.

Market Specifications

Trading Screen Product Name

Crude Diff Futures

Trading Screen Hub Name

Argus Bakken Cushing/WTI 1st Line

Contract Symbol

BAC

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

Last trading day of the contract month

Final Settlement

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 “Midcontinent”, subheading “Weighted average” for “Bakken Cushing” and the average of the settlement prices as made public by ICE for the WTI 1st Line Future for each business day (as specified below) in the determination period

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

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• WTI 1st Line Future
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Trading Hours

Codes