ICE Crude Diff – Permian WTI 1st Line vs WTI 1st Line

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A monthly cash settled future based on the ICE settlement price for Permian WTI 1st Line Future and the ICE settlement price for WTI 1st Line Future.

Crude Diff – Permian WTI 1st Line vs WTI 1st Line Futures
Trading Screen Product Name Crude Diff Futures
Trading Screen Hub Name Permian WTI 1st Line/WTI 1st Line
Contract Symbol HOW
Contract Size 1,000 barrels
Unit of Trading Any multiple of 1,000 barrels
Currency US Dollars and cents
Trading Price Quotation One cent ($0.01) per barrel
Settlement Price Quotation One tenth of one cent ($0.001) per barrel
Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel
Last Trading Day Last Trading Day of the contract month
Floating Price In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the settlement prices as made public by ICE for the front month Permian WTI Future contract and the average of the settlement prices as made public by ICE for the front month ICE WTI Future contract for each business day (as specified below) in the determination period.
Contract Series Up to 96 consecutive months
Final Payment Date Two Clearing House Business Days following the Last Trading Day
Business Days ICE Business Days
MIC Code IFED
Clearing Venues ICEU
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 7:50 PM - 6:00 PM*

19:50 - 18:00

7:40 PM

19:40

LONDON 12:50 AM - 11:00 PM*

00:50 - 23:00

12:40 AM

00:40

SINGAPORE 8:50 AM - 7:00 AM

08:50 - 07:00

8:40 AM

08:40

Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes Clearing Admin Name Am Crude Diffs
Physical HOW
Logical HOW
GMI (FC) O/
ION A.C.N. None

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ICE Crude Diff – Permian WTI 1st Line vs WTI 1st Line Product Spec