• Amendment to the Product Title and Final Settlement Index for Two (2) Crude Oil Futures Contracts to Reference WTI Midland (Argus)

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6594
      • Notice Date
      • 15 March 2013
      • Effective Date
      • 31 March 2013

    • Effective on Sunday, March 31, 2013 for trade date Monday, April 1, 2013, and pending all CFTC review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will amend the product title and the final settlement index for two (2) crude oil futures contracts to reference the WTI Midland price from Argus Media. The contract product title changes are: (1) WTI Midland (Argus) vs. WTI Financial Futures (chapter 856, commodity code FF) (formerly, WTS (Argus) vs. WTI Financial Futures); and (2) WTI Midland (Argus) Financial Futures (chapter 854, commodity code XB) (formerly, WTS (Argus) Financial Futures). These contracts will be listed for trading on the NYMEX trading floor, CME Globex and for submission for clearing through CME ClearPort. These rule amendments will be effective for the April 2013 contract month and beyond. The rule amendments appear below in black-line format.

       

      (bold/underline indicates addition; strikethrough indicates deletion)

       

      Chapter 856 (code FF)

      WTI Midland

       WTS (Argus) vs. WTI Financial Futures

      856.02. FLOATING PRICE

      The Floating Price for each contract month is equal to the arithmetic average of the differential of the WTI Midland WTS (1st month) weighted average 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.

       

      　

      Chapter 854 (code XB)

      WTI Midland

             WTS (Argus) Financial Futures

      854.02. FLOATING PRICE

      The Floating Price for each contract month is equal to the arithmetic average of the WTI Midland WTS (1st month) weighted average midpoint price from Argus Media for each business day that it is determined during the contract month.

      Please refer questions on this subject to:

      Research and Product Development

      Daniel Brusstar,

      daniel.brusstar@cmegroup.com, (212) 299-2604

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2024 CME Group Inc. All rights reserved.