The Canadian Crude Oil Index (CCI) serves as a

benchmark Benchmark may refer to: Business and economics * Benchmarking, evaluating performance within organizations * Benchmark price * Benchmark (crude oil), oil-specific practices Science and technology * Benchmark (surveying), a point of known elevati ...

for oil produced in Canada.http://boereport.com/2016/01/04/auspice-capital-advisors-launches-first-live-index-tied-to-canadian-crude-oil/, http://boereport.com/2016/01/04/auspice-capital-advisors-launches-first-live-index-tied-to-canadian-crude-oil/ It allows investors to track the price, risk, and volatility of the Canadian commodity. The CCI was launched by Auspice Capital Advisors in 2014.
https://hfm.global/ctaintelligence/news/proshares-launches-managed-futures-etf-2/ The Index moved from a day end posting to live in January 2016. The CCI can be used to identify opportunities to speculate outright on the price of Canadian crude oil or in conjunction with

West Texas Intermediate West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract tr ...

(WTI) to put on a spread trade which could represent the differential between the two.
http://content.auspicecapital.com/AuspiceCCIFactSheet2015.pdf Currently, Western Canada, western Canadian oil trades at a discount to WTI. Western Canadian Oil from the Athabasca tar sands is a heavier blend and more difficult to refine. This, as well as its landlocked location and transportation constraints, contribute to the discount. The CCI provides a fixed price reference for Canadian Crude Oil and provides an accessible and transparent index to serve as a benchmark to build investable products upon, and could ultimately increase its demand to global markets. Other heavy sour crudes, like the Mexican Maya blend, currently trade at a premium to WTI.
, http://www.energy.alberta.ca/OilSands/pdfs/20130113_Fact_sheet-heavy_oil_prices_-_FINAL.pdf The CCI targets an exposure that represents a three-month rolling position in crude oil.
http://static1.squarespace.com/static/53a1ca9ce4b030ded763dbc2/t/55260223e4b0805894981ebb/1428554275298/Canadian+Crude+Excess+Return+Index+Methodology+3.0.1.pdf To create a price representative of Canadian crude the index uses two futures contracts: A fixed price contract, which represents the price of crude oil at

Cushing, Oklahoma Cushing ( sac, Koshineki, iow, Amína P^óp^oye Chína, ''meaning: "Soft-seat town"'') is a city in Payne County, Oklahoma, United States. The population was 7,826 at the time of the 2010 census, a decline of 6.5% since 8,371 in 2000. Cushing w ...

, and a basis differential contract, which represents the difference in price between Cushing and Canada. Both contracts are priced in U.S. dollars per barrel. Together, these create a fixed price for Canadian crude oil. The Index value is determined by its third-party calculation and publication agent, the

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is by far the List of stock exchanges, world's largest s ...

Global Index Group, based on daily returns of prices published by

ICE Futures Europe Intercontinental Exchange, Inc. (ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russel ...

References

Economy of Canada Commodity price indices {{Petroleum-stub