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Argus WTI Trade Month Futures Contract Specs

Product Symbol V7
Venue CME Globex, CME ClearPort and 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 AM to 2:30 PM (8:00 AM to 1:30 PM 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 WTI (1st month) average price under the heading “WTI Formula Basis” from Argus Media for each business day that it is determined 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.
Listed Contracts 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 Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 304
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.