CanadianHeavyCrudeOilIndex(NetEnergy)Futures-.PDF

Chapter 263 Canadian Heavy Crude Oil Index (Net Energy) Futures 263.01. SCOPE The provisions of these Rules shall apply to all contracts bought or sold on the Exchange for cash settlement based on the Net Energy Canadian Daily Index (CDI) for Western Canadian Select (WCS) basis delivery at Hardisty, Alberta. 263.02. INDEX PRICE The Index Price for each contract month is equal to the simple arithmetic average of the Net Energy Canadian Daily Index (CDI) for Canadian Heavy Crude Oil during the Index Pricing Period for the contract month. The Index Pricing Period shall extend from the first Canadian business day of the month through the last Canadian business day prior to Notice of Shipments (NOS) date on the Enbridge Pipeline. The Index is expressed as a differential versus the Calendar Month Average (CMA) of the NYMEX Light Sweet Crude Oil futures settlement price. 263.03. CONTRACT QUANTITY AND VALUE The contract quantity shall be 1,000 U.S. barrels. Each contract shall be valued as the contract quantity (1000) multiplied by the settlement price. 263.04. CONTRACT MONTHS Trading shall be conducted in contracts in such months as shall be determined by the Exchange. 263.05. PRICES AND FLUCTUATIONS Prices shall be quoted in U.S. dollars and cents per barrel. The minimum price fluctuation shall be $0.001 per barrel. There shall be no