Crude Oil Diff - Argus Bakken Cushing vs WTI Trade Month Future82725192
ICE Futures U.S.
Crude Oil Diff - Argus Bakken Cushing vs WTI Trade Month Future
Description
A cash settled future based on the difference between the Argus daily assessment price for Bakken Cushing (front trade month) and the Argus daily assessment price for WTI Formula Basis (front trade month)
Market Specifications
- 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
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
Codes
- Clearing Admin Name
- Am Crude Diffs
- Physical
- BAF
- Logical
- BAF
- GMI (FC)
- ION A.C.N.
- Symbol Code
- BAF