I use the electronic session in crude (5:00pm-4:15pm cst) for my pivot numbers....I get my info from the NYMEX website which posts the daily OHLC, but the open they post is the 8:00am pit open and the settlement is based on the pit close at 1:30pm, but their high and low is from the 24 hr session...kinda odd...For instance its 3:41cst right now and NYMEX has an official settle of 64.01 already but the market is still open and trading 64.16...And the high of 64.23 was made at 3:00pm....not really sure why NYMEX dosent use a 4:15 settlement if they use the high and low of the 24 hour session.....Any thoughts?
That's just the way it has always been, they settle it after 2:30 based on the weighted average of all the trades done in the pit from 2:28 to 2:30 PM (these are Eastern times, you must be in Chicago with your Central times given). You should be able to filter between the electronic and pit sessions within your quote system; the electronic session is typically denoted by a 1 and the pit session by a 2 (in Reuters CLN7 gives you a combined session while 1CLN7 gives electronic and 2CLN7 gives pit session only)...
does MBFCC still publish pivots for both "pit hours" and round the clock hours for their customers who trade CL ( nymex) ?