Funding & Settlement
Commodity Benchmarks
The WTIOIL contract on AX tracks the Pyth 24/7 oil index (PYTHOIL), a continuously updating composite crude oil price. Its daily benchmark is the average index price from 2:25 PM to 2:30 PM New York time on U.S. business days.
The XCU contract on AX tracks the Pyth 24/7 copper index (CU), quoted in U.S. dollars per pound. Its daily benchmark is the average index price from 12:55 PM to 1:00 PM New York time on U.S. business days.
The XAL contract on AX tracks the Pyth aluminium 3-month feed (AL3M), converted from U.S. dollars per tonne to per kilogram. Its daily benchmark is the average feed price from 12:57 PM to 1:03 PM London time on U.K. business days.