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Mars (Argus) vs. WTI Trade Month 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)
Minimum Price Fluctuation $0.01
Product Code CME Globex: AYV
CME ClearPort: YV
Clearing: YV
Listed Contracts current year + the next 5 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) differential weighted average (Diff wtd avg) price from Argus Media, which is based on the weighted average floating price of Mars minus the WTI Formula Basis price, for the Trade month period beginning with the first business day after the 25th calendar day two months prior to the contract month through the last business day that falls on or before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, the Trade month period shall end on the first business day prior to the 25th calendar day.
Termination Of Trading Trading shall cease at the close of trading on the last business day that falls on or before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, trading shall cease on the first business day prior to the 25th calendar day.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 849
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing