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Mars (Argus) vs. WTI Financial Futures Contract Specs

Contract Unit 1,000 barrels
Price Quotation U.S. dollars and cents per barrel
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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. New York time/ET (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. New York time/ET (8:00 a.m. - 1:30 p.m. Chicago Time/CT)
Minimum Price Fluctuation $0.01 per barrel
Product Code CME Globex: AYX
CME ClearPort: YX
Open Outcry: YX
Clearing: YX
Listed Contracts CME Globex: 1 consecutive month
CME ClearPort and Open Outcry: The current year and the next five (5) consecutive calendar years. At the expiration of the December contract month, a new, full year shall be added
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the Mars (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.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 848
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing