Crude Diff - Argus X-Pipe Midland WTI vs WTI Trade Month Future83047693
ICE Futures U.S.
Crude Diff - Argus X-Pipe Midland WTI vs WTI Trade Month Future
Description
A cash settled future based on the Argus daily assessment for the
X-Pipe Midland WTI (1st month) Diff weighted average.
Market Specifications
- Trading Screen Product Name
- Crude Diff Futures (Trade Month)
- Trading Screen Hub Name
- Argus X-Pipe Midland WTI/WTI Trade Month
- Contract Symbol
- AXM
- 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 average of the “Diff weighted average” quotations appearing in the "Argus Crude" report under the heading "US Gulf Coast and Midcontinent" subheading “WTI” for "WTI ex-pipe Cushing" 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
- 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
- AXM
- Logical
- AXM
- GMI (FC)
- ION A.C.N.
- Symbol Code
- AXM