ICE-launched Argus Sour Crude Index jousts with WTI

摘要

In late 2009, Intercontinental Exchange Inc. (ICE), London, introduced two cash-settled futures contracts based on the Argus Sour Crude Index (ASCI) and cleared by ICE Clear Europe. The moves support the argument that West Texas Intermediate (WTI) prices, historically a major benchmark for traders, may be losing dominance. WTI prices are strongly influenced by the strength of the U.S. dollar.