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Description

A cash settled future based on the General Index daily assessment price for Houston Canadian Sour vs ICE HOU Calendar Month Average.

Market Specifications

Trading Screen Product Name

Crude Diff Futures

Trading Screen Hub Name

Houston Canadian Sour/HOU CMA (GX)

Contract Symbol

GXH

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 in the current delivery month shall cease at the end of the designated settlement period on the third Business Day prior to the twenty-fifth calendar day of the month preceding the delivery month. If the twenty-fifth calendar day of the month is a Non-Business Day, trading shall cease at the end of the designated settlement period on the third Business Day prior to the last Business Day preceding the twenty-fifth 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 “VWA Diff” quotations appearing in the "GX North America Crude" report under the heading “ICE HOU Markets” subheading "Houston/Texas Gulf Coast" for "Canadian Sour” for each business day in the contract month.

The Houston Canadian Sour volume weighted average differential (VWA Diff) price, taken from General Index, is based upon the Houston Canadian Sour volume weighted average outright (VWA Outright) price minus the equivalent month’s ICE Midland WTI AGC (HOO) Calendar Month Average price from ICE.

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 General Index North America Crude

MIC Code

IFED

Clearing Venues

ICEU

Trading Hours

Codes