Bakken DAPL (Argus) Monthly Futures - Contract Specs
NYMEX has suspended trading and clearing of the Bakken DAPL (Argus) Monthly Futures, Bakken Patoka (Argus) Monthly Futures, and Guernsey Light Sweet (Argus) Monthly Futures Contracts. Additional information may be viewed in SER-9382 dated May 20, 2024.
| Contract Unit | 1,000 barrels |
|---|---|
| Price Quotation | U.S. dollars and cents per barrel |
| Trading Hours | CME Globex: Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a daily maintenance period from 4:00 p.m. - 5:00 p.m. CT CME ClearPort: Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday from 4:00 p.m. - 5:00 p.m. CT |
| Minimum Price Fluctuation | 0.01 per barrel = $10.00 |
| Product Code | CME Globex: DAB CME ClearPort: DAB Clearing: DAB |
| Listed Contracts | Monthly contracts listed for the current year and the next 3 calendar years. Monthly contracts for a new calendar year will be added following termination of trading in the December contract of the current year. |
| Settlement Method | Financially Settled |
| Floating Price | The Index Price for each contract month is equal to the Bakken DAPL Cumulative Month-to-Date Volume Weighted Average (MTD VWA) Diff Index Price from Argus Media for the Trade Month Period for the contract month. The Trade month period begins with the first U.S. business day after the 25th calendar day two months prior to the contract month and ends on the last business day that falls on or before the 25th calendar day of the month prior to the contract month. The Index is expressed as a differential versus the Calendar Month Average (CMA) of the NYMEX Light Sweet Crude Oil futures settlement price. |
| Termination of Trading | Trading terminates on the 25th calendar day of the month prior to the contract month. If the 25th calendar day is not a business day, trading terminates on the business day prior to the 25th calendar day. |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
