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LLS (Argus) vs. Brent Crude Oil Financial Futures Contract Specs

Contract Unit 1,000 barrels
Price Quotation $0.01 per Barrel
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation $0.01 per barrel
Product Code CME Globex: LLR
CME ClearPort: LLR
Clearing: LLR
Listed Contracts 30 consecutive months
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is the arithmetic average of the LLS (1st month) weighted average price from Argus Media minus the Brent Crude Oil (ICE) Futures first nearby contract settlement price for each business day that it is determined during the contract month (using non-common pricing), except as set forth in Section (B) below.

(B) The settlement price of the first nearby contract month will be used except on the last day of trading for the expiring Brent Crude Oil Futures contract when the settlement price of the second nearby contract will be used.

The Floating Price is calculated using the non-common pricing convention. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated by using all trading days in the month for each component leg o
Termination Of Trading Trading shall cease on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 317
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing