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LLS (Argus) vs. WTI Financial Futures Contract Specs

Product Symbol CME Globex: AWJ
CME ClearPort: WJ
Open Outcry: WJ
Venue CME Globex, CME ClearPort, Open Outcry (New York)
Hours
(All Times are New York Time/ET)
CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT)
Contract Unit 1,000 barrels
Price Quotation U.S. dollars and cents per barrel
Minimum Fluctuation $0.01 per barrel
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the LLS (1st month) midpoint price from Argus Media minus the NYMEX Light Sweet Crude Oil Futures first nearby contract month settlement price for each business day that both are determined during the contract month.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts current year + the next 5 years. At the expiration of the December contract month, a new, full year shall be added
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 840
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.