- Trading Screen Product Name
- Crude Diff Futures (HOU Trade Month)
- Trading Screen Hub Name
- Midland WTL/HOU (GX)
- Contract Symbol
GTL
- 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
"Midland" for "WTL” for each business day in the
determination period.
The Midland WTL volume weighted average differential (VWA Diff)
price, taken from General Index, is based upon the WTL volume
weighted average outright (VWA Outright) price minus the ICE
Midland WTI AGC (HOU) (front month) price from ICE, for the ICE
trade month period beginning on the second Business Day prior to
the twenty-fifth calendar day of the month two months prior to the
delivery month and ending 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.
- 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