EXHIBIT 1 

CHAPTER 19 

OIL FUTURES AND RELATED OPTIONS CONTRACTS 

Rule 19.00 Scope 

(a) Each Futures Contract and Related Options Contract (collectively, “Oil Contracts”) shall 

include the relevant terms and conditions set out in the applicable Subchapter of this Chapter 

19. All times specified in this Chapter 19 shall refer to the prevailing time in New York City, 

referred to in these Rules as “EPT”. 

(b) The Clearing Organization for all Oil Contracts referred to in this Chapter 19 shall be ICE 

Clear Europe. 

(c) The procedures for trading, clearing, settlement, exercise, and any other matters not 

specifically covered in this Chapter 19 (or in any relevant Subchapter) shall be governed by 

the Rules of the Exchange and the Clearing Organization Rules. In the event of any 

inconsistency between an Exchange Rule and any provision of this Chapter 19, the provisions 

of this Chapter shall prevail. 

Rule 19.01 Definitions 

The following capitalized terms shall have the meanings ascribed to them below:

Argus Crude shall mean the Argus Crude report, or any 

successor publication, published by Argus 

Media Limited or its successor.

Argus International LPG shall mean the Argus International LPG 

report, or any successor publication, published 

by Argus Media Limited or its successor. 

Average Price Option or APO shall mean an option contract whose value is 

determined by a mathematical average of 

prices over a specific period of time.

Clearing House Business Day shall mean a day on which the Clearing 

Organization is open for business. 

Common Pricing shall mean that no date will be used as a 

pricing date under the terms of the relevant 

Commodity Contract unless such date is a day 

on which all commodity reference prices for 

such contract are scheduled to be published or 

announced. “Non-Common Pricing” will be 

construed accordingly. 

NGX shall mean the Natural Gas Exchange Inc., or 

its successor, which reports market prices on 

its website at www.ngx.com or its successor.

NGX Crude Oil Markets shall mean the Natural Gas Exchange Inc. 

crude oil markets prices report, or any 

successor publication, published by the 

Natural Gas Exchange Inc., or its successor. 

NYMEX shall mean the New York Mercantile 

Exchange, Inc. or its successor.

OPIS shall mean the Oil Price Information Service, 

or any successor publication, published by Oil 
Price Information Service, a division of UCG, 

or its successor. 

Platts Asia-Pacific or Platts AsiaPacific/Arab Gulf Marketscan 

shall mean Platts Asia-Pacific/Arab Gulf 

Marketscan, or any successor publication, 

published by The McGraw-Hill Companies 

Inc. or its successor. 

Platts European or Platts European 

Marketscan 

shall mean Platts European Marketscan, or 

any successor publication, published by The 

McGraw-Hill Companies Inc. or its successor.

Tonne shall mean a metric tonne. 

Rule 19.02 Obligations of Option Purchasers 

 (a) The Purchaser which clears an Option shall pay in full the Premium to the Clearing 

Organization on the Business Day following the purchase of an Option in accordance with the 

Clearing Organization Rules regarding the settlement of Commodity Contracts.

(b) The Purchaser of an Option shall, upon exercising such Option in accordance with the Rules 

and Clearing Organization Rules, enter into a long position (in the case of a Call Option) or a short

position (in the case of a Put Option) in the Underlying Futures Contract deliverable in the Option 

Contract Period, at the Strike Price specified in such Option, in accordance with the Clearing 

Organization Rules; provided, however, that any such contract entered into upon exercise shall be 

entered into for the account of the Person having purchased the Option. 

Rule 19.03 Obligations of Option Grantors 

(a) The Grantor which clears an Option shall make such Margin deposits as the Clearing 

Organization may require. 

 (b) The Grantor of an Option shall, upon being assigned an Exercise Notice in accordance with 

the Clearing Organization Rules, enter into a short position (in the case of a Call Option) or a long 

position (in the case of a Put Option) in the Underlying Futures Contract deliverable in the Option 

Contract Period, at the Strike Price specified in such Option, in accordance with the Clearing 

Organization Rules; provided, however, that any such contract entered into upon assignment of an 

Exercise Notice shall be entered into for the account of the Person having granted the Option. 

Rule 19.04 Exercise of Options 

(a) All exercises of Options shall be made through the Clearing Organization, in accordance with 

these Rules and the Clearing Organization Rules. Options shall not be transferred, assigned or 

otherwise disposed of other than on the Exchange, subject to the Rules and the Clearing Organization 

Rules. 

 (b) The contract specifications for each Option contained in this Chapter 19 specify the exercise 

method of the respective Option. 

 (c) For any Option that is subject to automatic exercise as set forth in the Rules for such Option, 

exercise will occur in accordance with such Rules and the Clearing Organization Rules (unless a 

Clearing Member is permitted under the Rules to elect that such automatic exercise will not occur and 

so elects under the Rules). For purposes of automatic exercise and abandonment of an Option, any 

Option at a Strike Price that is equal to the Settlement Price of the Underlying Futures Contract (or, if 

applicable, the relevant reference price for the Option under the Rules) shall be treated as “out of the 

money”. 
(d) For any Option that is permitted to be manually exercised or abandoned as set forth in the 

Rules: 

 (i) any Clearing Member who has, or carries accounts for others that have, an open long 

position in such an Option on any Business Day that the Option is traded and is exercisable under 

the Rules (other than the Last Trading Day) may issue an Exercise Notice with respect to each 

open position not later than noon EPT on such Business Day; and 

 (ii) On the Last Trading Day, any Clearing Member which has, or carries accounts for others 

which have, an open long position in the expiring Option may issue an Exercise Notice with 

respect to each open position not later than 4:30 EPT unless otherwise specified in the terms and 

conditions for a particular Option in Subchapter 19F of this Chapter 19. 

(e) Notwithstanding the foregoing, if issuance of a final Settlement Price of the Underlying 

Futures Contract is delayed beyond the last Exercise Day of an Option, then long Option positions 

shall be exercisable (in accordance with the methods specified in the rules of each Option) using a 

price determined and published by the Exchange on the basis of market information known to the 

Exchange and deemed reliable. 

DEFINITIONS 

EXCEPT WHERE THE CONTEXT REQUIRES OTHERWISE, 

THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANING WHEN 

USED IN THE BY-LAWS OR RULE S. USE OF THE SINGULAR SHALL INCLUDE THE 

PLURAL AND VICE VERSA, UNLESS THE CONTEXT REQUIRES OTHERWISE.

* * * * * 

Oil Contract 

The term “Oil Contract” shall refer to any Futures Contract and any Option involving crude 

oil, refined oil products, natural gas liquids, petrochemicals and any other products as 

specified in Chapter 19 of the Rules. 

TRADING RULES 

 * * * 

Rule 4.25. Trading Hours 

(a) The trading hours shall be as specified by the Exchange from time to time. All times specified 

in this Rule for Energy Contracts and Oil Contracts shall refer to the prevailing time in New York 

City on the relevant day and shall be referred to as Eastern Prevailing Time or “EPT”. 

(b) The time period during which daily Settlement Prices shall be determined is: 

 * * * 

(xi) for Oil Contracts and Energy Futures and Options Contracts involving Power and Natural 

Gas, 2:28 PM-2:30 PM and for Environment products, 3:45-4:00 PM; and 

(xii) for Eris CDX IG and Eris CDX HY Credit Futures Contracts, 4:30-4:35 PM. 
(xiii) for 100oz Gold Futures, 33.2 oz. mini Gold Futures, Options on 100oz Gold Futures and 

Options on 33.2 oz. mini Gold Futures, between 1.29 and 1.30 p.m., and for Gold Daily 

Futures, between 3:00 and 3:05 pm London Time. 

 (xiv) for 5000 oz Silver Futures, 1000oz Silver Futures, Options on 5000 oz Silver Futures and 

Options on 1000 oz Silver Futures, 1:24pm – 1:25 pm; 

 (xv) for the NYSE Arca Gold Miners Index Futures Contracts, 3:59pm and 4pm NY Time; 

(xvi) for all mini MSCI Index Futures and Options Contracts except for mini MSCI USA 

Index Futures, mini MSCI USA Growth Index Futures and mini MSCI USA Value 

Futures between 3:59pm and 4pm NY Time; 

(xvii) for mini MSCI USA Index Futures, mini MSCI USA Growth Index Futures and mini 

MSCI USA Value Futures 4:15pm NY time; 

(c) On the Last Trading Day for each Exchange Futures Contract, the Trading Session will end: 

 * * * 

(x) for Oil Futures Contracts and Energy Futures Contracts, at the same time as the regular 

Trading Session; and 

(xi) for Credit Index Futures Contracts, 4:30 EPT. 

(xii) for Gold Daily Futures Contracts, noon London time; and 

(xiii) for all other Exchange Contracts, at the time specified in the chapter of the Rules setting 

forth the terms and conditions of such contract. 

(d) On the Last Trading Day for each Exchange Options Contracts, the Trading Session will end 

at the following times: 

(i) for Cocoa and Coffee “C” at 1:30 PM; 

(ii) for Sugar No. 11 at 1:00 PM; 

(iii)for Cotton No. 2 at 2:20 PM; 

(iv) for USDX Options at 3:00 PM; 

(v) for Russell 100 Index Mini and the Russell 2000 Index Mini Futures Contracts which (i) for 

the quarterly cycle, will cease trading at 9:30 AM, and for the non-quarterly expiration 

months, will cease trading at 4:15 PM; 

(vi) for Options on Cash-Settled Agricultural Futures contracts will cease trading at 2:30 PM; 

and 

(vii) Oil Options and Energy Options Contracts will cease trading at the times specified for 

each such Option in Subchapter F of Chapter 19 and Subchapter E of Chapter 18, 

respectively.. 

(viii) for all other Exchange Contracts, at the time specified in the chapter of the Rules setting 

forth the terms and conditions of such contract. 

* * * 

Rule 4.34. Settlement Prices 
(a) Settlement Prices for all Exchange Futures Contracts [(] except for Cash-Settled US 

Agricultural Futures Contracts described in Chapter 14 and as otherwise specified in the terms of an 

Oil Contract described in Chapter 19 of the Rules[)], shall be determined in the manner specified in 

this Rule. All prices, bids and offers during the applicable closing period as defined in Rule 4.25(b)

(the “close”) shall be used to determine the Settlement Price of a delivery or expiration month unless

otherwise specified herein. 

Remainder of Rule Unchanged 

REGULATORY REQUIREMENTS

* * * 

Rule 6.20. Position Limits, Conditional Limits and Position Accountability for Energy 

Contracts 

(a) Position limit and position accountability levels for Energy Contracts and for Oil Contracts 

are specified in the Tables contained in Resolutions 2 [to]contained in Chapters 18 and 19 (the 

“Position Limit Tables”). A Person holding or controlling Exchange Futures Contracts and Futures 

Equivalent Contracts, net long or net short (calculated as specified in the Position Limit Table), in an 

amount equal to or greater than the accountability levels specified in such Table, (i) automatically 

consents not to increase further and automatically consents to decrease those positions when so 

ordered by the Exchange acting in its own discretion and (ii) shall provide, in a timely manner, 

information on the nature of that Person’s related cash position, Exchange Futures and Options 

position, trading strategy and/or hedging strategy and such other relevant information as the Exchange

may require. Nothing in this Rule shall limit the authority of the Exchange to take action under Rules

6.11, 6.12 and 6.13 or to request and collect information regarding such Person’s related cash and 

Exchange Futures and Options positions. 

 (b) No Person may exceed the position limits specified in the Position Limit Tables for any Oil 

Contract or any Energy Contract unless an exemption has been granted by the Exchange in 

accordance with these Rules. 

(c) A Conditional Limit in the Henry Hub LD1 Fixed Price Future of up to five (5) times the spot 

month position limit may be granted for the period that spot month position limits are in effect. To

be eligible for a Conditional Limit under this Rule, a Person must submit a completed Conditional 

Limit Request Form to the Exchange and agree: 

 (i) not to hold or control a position in the corresponding CME/NYMEX Natural Gas Futures 

contract during the last three days of trading; 

 (ii) to provide the Exchange with information on all positions related to Henry Hub Contracts; 

and 

 (iii) to provide such other information as may be requested by the Exchange. 

(d) The spot month position limits for the Henry LD1 Fixed Price Futures Contract shall be 

effective on the Last Trading Day and the two Business Days preceding the Last Trading Day of the 

Contract Period, as such term is defined in Chapter 18 of the Rules, or as otherwise determined by the

Exchange to account for holidays. 

(e) The spot month position limits for Natural Gas contracts (excluding the Henry LD1 Fixed 
Price Future and the EIA Index Futures) shall be effective during the last five Business Days of the 

calendar month that precedes the Contract Period, as such term is defined in Chapter 18 of the Rules, 

or as otherwise determined by the Exchange to account for holidays. 

(f) The spot month position limit for the EIA Index Futures shall be effective on the Last 

Trading Day and the four Business Days preceding the Last Trading Day of the Contract Period, as 

such term is defined in Chapter 18 of the Rules, or as otherwise determined by the Exchange to 

account for holidays. 

(g) The spot month position limits for Power and Physical Environmental contracts shall be 

effective on the first Business Day of the Contract Period (as such term is defined in Chapter 18 of the 

Rules) through the Last Trading Day. 

(h) The spot month position limits for LNG contracts shall be effective at the close of 

business on the Business Day preceding the Last Trading Day of the Contract Period, as such term is 

defined in Chapter 18 of the Rules. 

(i) The spot month position limits for Oil Contracts shall be effective on the Last Trading Day 

and the two Business Days preceding the Last Trading Day of the expiring contract, or as otherwise 

determined by the Exchange to account for holidays. 
NYDOCS02/1141132.7 1 

SUBCHAPTER 19A – OUTRIGHT– CRUDE OIL AND REFINED PRODUCTS 

19.A.1 Crude Outright – Argus LLS Future

19.A.2 Crude Outright – Argus Mars Future

19.A.3 Crude Outright – Argus WTI Cushing Trade Month Future

19.A.4 Crude Outright – WTI 1st Line Future

19.A.5 Crude Outright – WTI 1st Line Balmo Future

19.A.6 Crude Outright – WTI 1st Line Mini Future

19.A.7 Crude Outright – WTI Bullet Future

19.A.8 RESERVED

19.A.9 Crude Outright—EU-Style WTI Future

19.A.10 Fuel Oil Outright – New York 1% Fuel Oil Future

19.A.11 Fuel Oil Outright – New York 1% Fuel Oil Balmo Future

19.A.12 Fuel Oil Outright – New York 3.0% Fuel Oil (Platts) Future

19.A.13 Fuel Oil Outright – USGC HSFO (Platts) Future

19.A.14 Fuel Oil Outright – USGC HSFO (Platts) Balmo Future

19.A.15 Diesel Outright – Gulf Coast ULSD Future

19.A.16 Diesel Outright – Gulf Coast Export ULSD (Platts) Future

19.A.17 Gasoline Outright – RBOB Gasoline 1st Line Future

19.A.18 Gasoline Outright – RBOB Gasoline 1st Line Balmo Future

19.A.19 Gasoline Outright – RBOB Gasoline 1st Line Mini Future

19.A.20 Heating Oil Outright – Heating Oil 1st Line Future

19.A.21 Heating Oil Outright – Heating Oil 1st Line Mini Future

19.A.22 Jet Fuel Outright – Gulf Coast Jet Fuel Future

19.A.23 Jet Fuel Outright – Gulf Coast Jet Fuel (Platts) Balmo Future

19.A.24 Jet Fuel Outright – Gulf Coast Jet Fuel (Platts) Mini Future

19.A.25 Ethanol Outright – New York Ethanol Future

19.A.26 Ethanol Outright – Chicago Ethanol Future

19.A.27 Crude Outright—Daily EU-Style WTI Future
NYDOCS02/1141132.7 2 

19.A.1 CRUDE OUTRIGHT – ARGUS LLS FUTURE 

Product Name Crude Outright – Argus LLS Future 

Contract Description A monthly cash settled future based on the Argus daily assessment price for Light 

Louisiana Sweet Crude Oil (1st Month). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline $/bl”, 

subheading “Price” for “LLS” for each business day (as specified below) in the 

determination period.

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141132.7 3 

19.A.2 CRUDE OUTRIGHT – ARGUS MARS FUTURE 

Product Name Crude Outright – Argus Mars Future 

Contract Description A monthly cash settled future based on the Argus daily assessment price for Mars 

Crude Oil (1st Month). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline $/bl”, 

subheading “Price” for “Mars” for each business day (as specified below) in the 

determination period.

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 4 

19.A.3 CRUDE OUTRIGHT – ARGUS WTI CUSHING TRADE MONTH FUTURE 

Product Name Crude Outright – Argus WTI Cushing Trade Month Future 

Description A cash settled future based on the Argus daily assessment price for WTI Cushing 

formula basis. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on or 

before the 25th calendar day of the month prior to the contract month. If the 25th 

calendar day is a weekend or holiday, trading shall cease on the first business day 

prior to the 25th calendar day 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the "Argus Crude" report under the heading "US Gulf Coast and 

Midcontinent", subheading “WTI” for "WTI Cushing” WTI formula basis price for 

each business day (as specified below) in the determination period. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141132.7 5 

19.A.4 CRUDE OUTRIGHT – WTI 1ST LINE FUTURE 

Product Name Crude Outright – WTI 1st Line Future 

Contract Description A monthly cash settled future based on the daily settlement price for WTI Futures. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the settlement prices as 

made public by NYMEX for the front month WTI Futures contract for the month of 

production. 

Contract Series Up to 84 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141132.7 6 

19.A.5 CRUDE OUTRIGHT – WTI 1ST LINE BALMO FUTURE 

Product Name Crude Outright – WTI 1st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the daily settlement price for 

WTI Futures. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the settlement prices as 

made public by NYMEX for the front month WTI Futures contract for the month of 

production. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 7 

19.A.6 CRUDE OUTRIGHT – WTI 1ST LINE MINI FUTURE 

Product Name Crude Outright – WTI 1st Line Mini Future 

Description A monthly cash settled mini future based on the daily settlement price for the 

NYMEX WTI Crude Futures 

Contract Size 100 barrels 

Unit of Trading Any multiple of 100 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the settlement prices as 

made public by NYMEX for the front month WTI Futures contract for the month of 

production 

Contract Series Up to 84 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 8 

19.A.7 CRUDE OUTRIGHT – WTI BULLET FUTURE 

Product Name Crude Outright – WTI Bullet Future 

Contract Description A WTI Bullet Future 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of business on the 4th NYMEX Business Day prior 

to the 25th calendar day of the month preceding the contract month. If the 25th 

calendar day of the month is not a NYMEX Business Day the final trading day 

shall be the trading day which is the 5th NYMEX Business Day preceding the 25th 

calendar day of the month preceding the contract month. (A “NYMEX Business 

Day” is a day on which NYMEX is open for business.)

Final Settlement Price A price in USD and cents per barrel equal to the price as made public by NYMEX 

for the WTI Futures contract for the month of production on the penultimate trading 

day. 

Contract Series Up to 84 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 9 

19.A.8 RESERVED 

19.A.9 CRUDE OUTRIGHT—EU-STYLE WTI FUTURE 

Product Name Crude Outright—EU-Style WTI Future 

Description The EU-Style WTI Future is used for the purposes of settling the EU-Style WTI 

Option. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price 

Quotation 

One tenth of one cent ($0.001) per barrel 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall end two NYMEX Business Days prior to the expiration date of the 

ICE Futures Europe WTI Crude Futures Contract (i.e., the 6th NYMEX Business 

Day prior to the 25th calendar day of the month preceding the contract month. If 

the 25th calendar day of the month is not a NYMEX Business Day the final trading 

day shall be the trading day which is the 7th NYMEX Business Day preceding the 

25th calendar day of the month preceding the contract month). (A “NYMEX 

Business Day” is a day on which NYMEX is open for business.) 

Final Settlement Price A price in USD and cents per barrel equal to the settlement price of the ICE WTI 

Bullet Future for the contract month on the 3rd business day prior to the last 

trading day of the ICE Futures Europe WTI Futures Contract for the contract 

month. 

Contract Series Up to 36 consecutive months

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19-see IFUS website
NYDOCS02/1141132.7 10 

19.A.10 FUEL OIL OUTRIGHT – NEW YORK 1% FUEL OIL FUTURE 

Product Name Fuel Oil Outright – New York 1% Fuel Oil Future 

Description A monthly cash settled future based on the Platts daily assessment price for New 

York 1% Fuel Oil 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the mean of the high 

and low quotations appearing in the “Platts US Marketscan” under the heading 

“Atlantic Coast New York” subheading “Residual fuel ($/bbl)” and “Cargo” for 

“No. 6 1%” for each business day (as specified below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141132.7 11 

19.A.11 FUEL OIL OUTRIGHT – NEW YORK 1% FUEL OIL BALMO FUTURE 

Product Name Fuel Oil Outright – New York 1% Fuel Oil Balmo Future 

Description A balance of the month cash settled future based on the Platts daily assessment 

price for New York 1% Fuel Oil. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the mean of the high 

and low quotations appearing in the “Platts US Marketscan” under the heading 

“Atlantic Coast New York” subheading “Residual fuel ($/bbl)” and “Cargo” for 

“No. 6 1%” for each business day (as specified below) in the determination period. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 12 

19.A.12 FUEL OIL OUTRIGHT – NEW YORK 3.0% FUEL OIL (PLATTS) FUTURE 

Product Name Fuel Oil Outright – New York 3.0% Fuel Oil (Platts) Future 

Description A monthly cash settled future based on the Platts daily assessment price for New 

York 3.0% Fuel Oil. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the “Mid” quotations 

appearing in the “Platts US Marketscan” under the heading “Atlantic Coast” 

subheading “New York Harbor” and “Delivered cargo ($/barrel)” for “No. 6 3.0%” 

for each business day (as specified below) in the determination period. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 13 

19.A.13 FUEL OIL OUTRIGHT – USGC HSFO (PLATTS) FUTURE 

Product Name Fuel Oil Outright – USGC HSFO (Platts) Future 

Description A monthly cash settled future based on the Platts daily assessment price for US 

Gulf Coast High Sulphur Fuel Oil. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the “Mid” quotations 

appearing in the “Platts US Marketscan” under the heading “Gulf Coast” 

subheading “Houston and “$/barrel” for “USGC HSFO” for each business day (as 

specified below) in the determination period. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141132.7 14 

19.A.14 FUEL OIL OUTRIGHT – USGC HSFO (PLATTS) BALMO FUTURE 

Product Name Fuel Oil Outright – USGC HSFO (Platts) Balmo Future 

Contract Description A balance of the month cash settled future based on the Platts daily assessment 

price for US Gulf Coast High Sulphur Fuel Oil. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the “Mid” quotations 

appearing in the “Platts US Marketscan” under the heading “Gulf Coast” 

subheading “Houston and “$/barrel” for “USGC HSFO” for each business day (as 

specified below) in the determination period. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141132.7 15 

19.A.15 DIESEL OUTRIGHT – GULF COAST ULSD FUTURE 

Product Name Diesel Outright – Gulf Coast ULSD Future 

Contract Description A monthly cash settled future based on the Platts daily assessment price for Gulf 

Coast Ultra Low Sulfur Diesel. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the mean of the high 

and low quotations appearing in the “Platts US Marketscan” under the heading 

“Gulf Coast” subheading “Distillates and blendstocks” and “Pipeline” for “Ultra 

low sulfur diesel” for each business day (as specified below) in the determination 

period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141132.7 16 

19.A.16 DIESEL OUTRIGHT – GULF COAST EXPORT ULSD (PLATTS) FUTURE 

Product Name Diesel Outright – Gulf Coast Export ULSD (Platts) Future 

Contract Description A monthly cash settled future based on the Platts daily assessment price for Gulf 

Coast Export Ultra Low Sulfur Diesel. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the “Mid” quotations 

appearing in the “Platts US Marketscan” under the heading “Gulf Coast” 

subheading “Houston” and “FOB Cargo (c/gal)” for “Export ULSD” for each 

business day (as specified below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 17 

19.A.17 GASOLINE OUTRIGHT – RBOB GASOLINE 1ST LINE FUTURE 

Product Name Gasoline Outright – RBOB Gasoline 1st Line Future 

Contract Description A monthly cash settled future based on the daily settlement price for NYMEX 

RBOB Gasoline Futures. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the settlement prices 

as made public by NYMEX for the front month RBOB Gasoline Future for the 

month of production. 

Contract Series Up to 62 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 18 

19.A.18 GASOLINE OUTRIGHT – RBOB GASOLINE 1ST LINE BALMO FUTURE 

Product Name Gasoline Outright – RBOB Gasoline 1st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the daily settlement price for 

RBOB Gasoline Futures. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the settlement prices 

as made public by NYMEX for the front month RBOB Gasoline Futures contract 

for the month of production. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 19 

19.A.19 GASOLINE OUTRIGHT – RBOB GASOLINE 1ST LINE MINI FUTURE 

Product Name Gasoline Outright – RBOB Gasoline 1st Line Mini Future 

Contract Description A monthly cash settled mini future based on the daily settlement price for RBOB 

Gasoline Futures 

Contract Size 100 barrels (4,200 gallons) 

Unit of Trading Any multiple of 100 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the settlement prices 

as made public by NYMEX for the front month RBOB Gasoline Futures contract 

for the month of production 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 20 

19.A.20 HEATING OIL OUTRIGHT – HEATING OIL 1ST LINE FUTURE 

Product Name Heat Oil Outright – Heating Oil 1st Line Future 

Contract Description A monthly cash settled future based on the daily settlement price for NYMEX NY 

Harbor ULSD Futures. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the settlement prices 

as made public by NYMEX for the front month New York Harbor ULSD Future 

for the month of production. 

Contract Series Up to 62 consecutive calendar months 

Final Payment Date Two Clearing House Business Days following the Last Trading Day. 

business days Publication days for NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 21 

19.A.21 HEATING OIL OUTRIGHT – HEATING OIL 1ST LINE MINI FUTURE 

Product Name Heating Oil Outright – Heating Oil 1st Line Mini Future 

Contract Description A monthly cash settled mini future based on the daily settlement price for Heating 

Oil Futures 

Contract Size 100 barrels (4,200 gallons) 

Unit of Trading Any multiple of 100 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the settlement prices 

as made public by NYMEX for the front month New York Harbor ULSD Heating 

Oil Futures contract for the month of production 

Contract Series Up to 48 consecutive calendar months 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 22 

19.A.22 JET FUEL OUTRIGHT – GULF COAST JET FUEL FUTURE 

Product Name Jet Fuel Outright – Gulf Coast Jet Fuel Future 

Contract Description A monthly cash settled future based on the Platts daily assessment price for Gulf 

Coast Jet 54 Pipeline. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the mean of the high 

and low quotations appearing in the "Platts US Marketscan" under the heading 

"Gulf Coast" subheading "Distillates and blendstocks" and “Pipeline” for "Jet 54" 

for each business day (as specified below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141132.7 23 

19.A.23 JET FUEL OUTRIGHT – GULF COAST JET FUEL (PLATTS) BALMO FUTURE 

Product Name Jet Fuel Outright – Gulf Coast Jet Fuel (Platts) Balmo Future 

Contract Description A balance of the month cash settled future based on the Platts daily assessment 

price for Gulf Coast Jet 54 Pipeline. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the “Mid” quotations 

appearing in the “Platts US Marketscan” under the heading “Gulf Coast” 

subheading “Houston” and “Prompt Pipeline” for “Jet 54” for each business day 

(as specified below) in the determination period. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141132.7 24 

19.A.24 JET FUEL OUTRIGHT – GULF COAST JET FUEL (PLATTS) MINI FUTURE 

Product Name Jet Fuel Outright – Gulf Coast Jet Fuel (Platts) Mini Future 

Contract Description A monthly cash settled mini future based on the Platts daily assessment price for 

Gulf Coast Jet 54 Pipeline 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the mean of the high 

and low quotations appearing in the "Platts US Marketscan" under the heading 

"Gulf Coast" subheading "Distillates and blendstocks" and “Pipeline” for "Jet 54" 

for each business day (as specified below) in the determination period 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 25 

19.A.25 ETHANOL OUTRIGHT – NEW YORK ETHANOL FUTURE 

Product Name Ethanol Outright – New York Ethanol Future 

Contact Description A monthly cash settled future based on the Platts daily price quotations for New 

York Ethanol (barge) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the mean of the high 

and low quotations from Platts for New York Ethanol (barge) for each business 

day (as specified below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141132.7 26 

19.A.26 ETHANOL OUTRIGHT – CHICAGO ETHANOL FUTURE 

Product Name Ethanol Outright – Chicago Ethanol Future 

Contract Description A monthly cash settled future based on the Platts daily price quotations for 

Chicago Ethanol (terminal). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the average of the mean of the high 

and low quotations from Platts for Chicago Ethanol (terminal) for each business 

day (as specified below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141132.7 27 

19.A.27 CRUDE OUTRIGHT—DAILY EU-STYLE WTI FUTURE 

Product Name Crude Outright—Daily EU-Style WTI Future 

Description The EU-Style WTI Future is used for the purposes of settling the Daily EU-Style 

WTI Option. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price 

Quotation 

One tenth of one cent ($0.001) per barrel 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall end at the end of the designated settlement period for the ICE WTI 

Crude Futures contract on the business day that it was listed on. 

Final Settlement Price A price in USD and cents per barrel equal to the Settlement Price of the ICE WTI 

Bullet Future on the Last Trading Day. 

Contract Series Daily contract listed for 1 day. 

Final Payment Dates One Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19-see IFUS website
NYDOCS02/1141110.4 1 

 Diesel Crack – Gulf Coast ULSD vs WTI 1st LINE FUTURE

 Diesel Crack – Gulf Coast ULSD vs Brent 1st Line Future

 Fuel Oil Crack – New York 1% Fuel Oil vs Brent 1st Line Future

 Fuel Oil Crack – New York 1% Fuel Oil vs WTI 1st Line Future

 Fuel Oil Crack – New York 1% Fuel Oil vs WTI 1ST Line Balmo Future

 Fuel Oil Crack – USGC HSFO (Platts) vs Brent 1st Line Future

 Fuel Oil Crack – USGC HSFO (Platts) vs Brent 1st Line Balmo Future

 Fuel Oil Crack – USGC HSFO (Platts) vs WTI 1st Line Future

 Gasoline Crack – RBOB Gasoline 1st Line vs Brent 1st Line Future (in Bbls)

 Gasoline Crack – RBOB Gasoline 1st Line vs Brent 1st Line Balmo Future (in Bbls)

 Gasoline Crack – RBOB Gasoline 1st Line vs WTI 1st Line Future (in Bbls)

 Heating Oil Crack – Heating Oil 1st Line vs Brent 1st Line Future (in Bbls)

 Heating Oil Crack – Heating Oil 1st Line vs WTI 1st Line Future

 Jet Fuel Crack – Gulf Coast Jet Fuel vs Brent 1st Line Future
NYDOCS02/1141110.4 2 

DIFFERENTIAL FUTURES CONTRACTS - CRUDE OIL AND REFINED PRODUCTS 

DIESEL CRACK – GULF COAST ULSD VS WTI 1ST LINE FUTURE 

Product Name 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast Ultra Low Sulfur Diesel and the ICE daily 

settlement price for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the average of 

the mean of the high and low quotations appearing in the “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Distillates and blendstocks” and 

“Pipeline” for “Ultra low sulfur diesel” and the average of the settlement prices as 

made public by ICE for the front month WTI 1st Line Future for each business day 

(as specified below) in the determination period. 

conversion factor: 1,000 barrels = 42,000 gallons.

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141110.4 3 

DIESEL CRACK – GULF COAST ULSD VS BRENT 1ST LINE FUTURE 

Product Name Diesel Crack – Gulf Coast ULSD vs Brent 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast Ultra Low Sulfur Diesel and the ICE daily 

settlement price for Brent 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the average 

of the mean of the high and low quotations appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Distillates and 

blendstocks” and “Pipeline” for “Ultra low sulfur diesel” and the average of the 

settlement prices as made public by ICE for the front month ICE Futures Europe 

Brent 1st Line Future for each business day (as specified below) in the 

determination period. 

conversion factor: 1,000 barrels = 42,000 gallons.

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be used 

except for the expiration date of the commodity’s underlying delivery month’s 

futures contract. On such date, the applicable pricing quotation will be rolled to 

the following month’s futures contract. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141110.4 4 

FUEL OIL CRACK – NEW YORK 1% FUEL OIL VS BRENT 1ST LINE FUTURE 

Product Name Fuel Oil Crack – New York 1% Fuel Oil vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the difference the Platts daily 

assessment price for New York 1% Fuel Oil and the ICE daily settlement price 

for Brent 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts US 

Marketscan” under the heading “Atlantic Coast New York” subheading 

“Residual fuel ($/bbl)” and “Cargo” for “No. 6 1%” and the average of the 

settlement prices as made public by ICE for the front month ICE Futures 

Europe Brent 1st Line Future for each business day (as specified below) in the 

determination period. 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be 

used except for the expiration date of the commodity’s underlying delivery 

month’s futures contract. On such date, the applicable pricing quotation will 

be rolled to the following month’s futures contract. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141110.4 5 

FUEL OIL CRACK – NEW YORK 1% FUEL OIL VS WTI 1ST LINE FUTURE 

Product Name Fuel Oil Crack – New York 1% Fuel Oil vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference the Platts daily 

assessment price for New York 1% Fuel Oil and the daily settlement price for 

ICE WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts US 

Marketscan” under the heading “Atlantic Coast New York” subheading 

“Residual fuel ($/bbl)” and “Cargo” for “No. 6 1%” and the average of the 

settlement prices as made public by ICE for the front month ICE WTI 1st Line 

Future contract for each business day (as specified below) in the determination 

period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141110.4 6 

FUEL OIL CRACK – NEW YORK 1% FUEL OIL VS WTI 1ST LINE BALMO FUTURE 

Product Name Fuel Oil Crack – New York 1% Fuel Oil vs WTI 1st Line Balmo Future

Contract Description A balance of the month cash settled future based on the difference the Platts 

daily assessment price for New York 1% Fuel Oil and the daily settlement 

price for ICE WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts US 

Marketscan” under the heading “Atlantic Coast New York” subheading 

“Residual fuel ($/bbl)” and “Cargo” for “No. 6 1%” and the average of the 

settlement prices as made public by ICE for the front month ICE WTI 1st Line 

Future contract for each business day (as specified below) in the determination 

period. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141110.4 7 

FUEL OIL CRACK – USGC HSFO (PLATTS) VS BRENT 1ST LINE FUTURE 

Product Name Fuel Oil Crack – USGC HSFO (PLATTS) vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for US Gulf Coast High Sulphur Fuel Oil and the ICE 

settlement price for Brent 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston and “$/barrel” for 

“USGC HSFO” and the average of the settlement prices as made public by 

ICE for the front month ICE Futures Europe Brent Crude Future for each 

business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be 

used except for the expiration date of the commodity’s underlying delivery 

month’s futures contract. On such date, the applicable pricing quotation will 

be rolled to the following month’s futures contract. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141110.4 8 

FUEL OIL CRACK – USGC HSFO (PLATTS) VS BRENT 1ST LINE BALMO FUTURE 

Product Name Fuel Oil Crack – USGC HSFO (Platts) vs Brent 1st Line Balmo Future

Contract Description A balance of the month cash settled future based on the difference between the 

Platts daily assessment price for US Gulf Coast High Sulphur Fuel Oil and the 

ICE settlement price for Brent 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston and “$/barrel” for 

“USGC HSFO” and the average of the settlement prices as made public by 

ICE for the front month ICE Futures Europe Brent Crude Future for each 

business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be 

used except for the expiration date of the commodity’s underlying delivery 

month’s futures contract. On such date, the applicable pricing quotation will 

be rolled to the following month’s futures contract. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141110.4 9 

FUEL OIL CRACK – USGC HSFO (PLATTS) VS WTI 1ST LINE FUTURE

Product Name Fuel Oil Crack – USGC HSFO (Platts) vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for US Gulf Coast High Sulphur Fuel Oil and the ICE 

settlement price for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston and “$/barrel” for 

“USGC HSFO” and the average of the settlement prices as made public by 

NYMEX for the front month WTI Future for each business day (as specified 

below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141110.4 10 

GASOLINE CRACK – RBOB GASOLINE 1ST LINE VS BRENT 1ST LINE FUTURE (IN BBLS) 

Product Name Gasoline Crack – RBOB Gasoline 1st Line vs Brent 1st Line Future (in 

Bbls)

Contract Description A monthly cash settled future based on the difference between the ICE 

settlement price for RBOB Gasoline 1st Line Future and the ICE settlement 

price for Brent 1st Line Future (in bbls). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One tenth of one cent ($0.001) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by NYMEX for the front month 

RBOB Gasoline Future and the average of the settlement prices as made public 

by ICE for the front month ICE Futures Europe Brent Crude Future for each 

business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 barrel = 42 gallons 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be used 

except for the expiration date of the commodity’s underlying delivery month’s 

futures contract. On such date, the applicable pricing quotation will be rolled to 

the following month’s futures contract. 

Contract Series Up to 62 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141110.4 11 

GASOLINE CRACK – RBOB GASOLINE 1ST LINE VS BRENT 1ST LINE BALMO FUTURE (IN 

BBLS) 

Product Name Gasoline Crack – RBOB Gasoline 1st Line vs Brent 1st Line Balmo Future 

(in Bbls)

Contract Description A balance of the month cash settled future based on the difference between the 

ICE settlement price for RBOB Gasoline 1st Line Future and the ICE settlement 

price for Brent 1st Line Future (in bbls). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One tenth of one cent ($0.001) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by NYMEX for the front month 

RBOB Gasoline Future and the average of the settlement prices as made public 

by ICE for the front month ICE Futures Europe Brent Crude Future for each 

business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 barrel = 42 gallons 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be used 

except for the expiration date of the commodity’s underlying delivery month’s 

futures contract. On such date, the applicable pricing quotation will be rolled to 

the following month’s futures contract. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141110.4 12 

GASOLINE CRACK – RBOB GASOLINE 1ST LINE VS WTI 1ST LINE FUTURE (IN BBLS) 

Product Name Gasoline Crack – RBOB Gasoline 1st Line vs WTI 1st Line Future (in 

Bbls)

Contract Description A monthly cash settled future based on the difference between the ICE 

settlement price for RBOB Gasoline 1st Line Future and the ICE settlement 

price for WTI 1st Line Future (in bbls). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One tenth of one cent ($0.001) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by NYMEX for the front 

month RBOB Gasoline Future and the average of the settlement prices as made 

public by NYMEX for the front month WTI Future for each business day (as 

specified below) in the determination period. 

conversion factor: 1 barrel = 42 gallons. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141110.4 13 

HEATING OIL CRACK – HEATING OIL 1ST LINE VS BRENT 1ST LINE FUTURE (IN BBLS) 

Product Name Heating Oil Crack – Heating Oil 1st Line vs Brent 1st Line Future (in Bbls) 

Contract Description A monthly cash settled future based on the difference between the ICE 

settlement price for Heating Oil 1st Line Future and the ICE settlement price for 

Brent 1st Line Future (in bbls). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by NYMEX for the front month 

NY Harbor ULSD Future and the average of the settlement prices as made 

public by ICE for the front month ICE Futures Europe Brent Crude Future for 

each business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 barrel = 42 gallons 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be used 

except for the expiration date of the commodity’s underlying delivery month’s 

futures contract. On such date, the applicable pricing quotation will be rolled to 

the following month’s futures contract. 

Contract Series Up to 62 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141110.4 14 

HEATING OIL CRACK – HEATING OIL 1ST LINE VS WTI 1ST LINE FUTURE 

Product Name Heating Oil Crack – Heating Oil 1st Line vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference between the daily 

settlement price for Heating Oil 1st Line Future and the daily settlement price 

for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Last business day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by ICE for the front month 

Heating Oil 1st Line Future and the average of the settlement prices as made 

public by ICE for the front month WTI 1st Line Future for each business day 

(as specified below) in the determination period. 

conversion factor: 1 barrel = 42 gallons 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141110.4 15 

JET FUEL CRACK – GULF COAST JET FUEL VS BRENT 1ST LINE FUTURE 

Product Name Jet Fuel Crack – Gulf Coast Jet Fuel vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast Jet 54 Pipeline and the ICE daily settlement 

price for Brent 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts 

US Marketscan” under the heading “Gulf Coast” subheading “Distillates and 

blendstocks” and “Pipeline” for “Jet 54” and the average of the settlement 

prices as made public by ICE for the front month ICE Futures Europe Brent 1st 

Line Future for each business day (as specified below) in the determination 

period. 

conversion factor: 1 barrel = 42 gallons 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be 

used except for the expiration date of the commodity’s underlying delivery 

month’s futures contract. On such date, the applicable pricing quotation will 

be rolled to the following month’s futures contract. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 1 

SUBCHAPTER 19C DIFFERENTIAL FUTURES CONTRACTS – CRUDE OIL AND REFINED 

PRODUCTS 

19.C.1 Crude Diff – Argus WCS (Cushing) Crude Oil Trade Month Future

19.C.2 Crude Diff – Argus LLS vs Brent 1st Line Future

19.C.3 Crude Diff – Argus LLS vs WTI 1st Line Future

19.C.4 Crude Diff – Argus LLS vs WTI Trade Month Future

19.C.5 Crude Diff – Argus Mars vs WTI 1st Line Future

19.C.6 Argus Mars vs WTI Trade Month Future

19.C.7 Crude Diff – Argus Mars vs Brent 1st Line Future

19.C.8 Crude Diff – Argus WTI CMA Trade Month Future

19.C.9 Crude Diff – Argus WTS vs WTI 1st Line Future

19.C.10 Crude Diff – Argus WTS vs WTI Trade Month Future

19.C.11 Crude Diff – Argus WTI Midland vs WTI 1st Line Future

19.C.12 Crude Diff – Argus WTI Midland vs WTI Trade Month Future

19.C.13 Crude Diff – Argus WTI Midland vs Argus WTS Trade Month Future

19.C.14 Crude Diff – Argus WTI Houston vs WTI 1st Line Future

19.C.15 Crude Diff – Argus WTI Houston vs WTI Trade Month Future

19.C.16 Crude Diff – Argus WTI Houston vs Argus WTI Midland Trade Month Future

19.C.17 Crude Diff – Argus Sour Crude Index (ASCI) Diff Calendar Future

19.C.18 Crude Diff – TMX SYN 1A Index Future

19.C.19 Crude Diff – TMX WCS 1B Index Future

19.C.20 Crude Diff – TMX WCS 1A Index Future

19.C.21 Crude Diff – TMX SW 1A Index Future

19.C.22 Crude Diff – TMX UHC 1A Index Future

19.C.23 Crude Diff – TMX LSB 1A Index Future

19.C.24 Crude Diff – WTI 1st Line vs Brent 1st Line Future

19.C.25 Condensate Diff – TMX C5 1A Index Future

19.C.26 Crude Diff – Argus Bakken (Clearbrook) Crude Oil Future

19.C.27 Crude Diff – Argus LLS vs Dated Brent (Platts) Future

19.C.28 Crude Diff – Argus LLS vs WTI 1st Line Balmo Future

19.C.29 Crude Diff – Argus LLS vs WTI Trade Month Balmo Future

19.C.30 Crude Diff – Argus Mars vs WTI 1st Line Balmo Future

19.C.31 Crude Diff – Argus Mars vs WTI Trade Month Balmo Future

19.C.32 Crude Diff – Argus WTS vs WTI 1st Line Balmo Future

19.C.33 Crude Diff – Argus WTS vs WTI Trade Month Balmo Future

19.C.34 Crude Diff – Argus WTI Midland vs WTI 1st Line Balmo Future

19.C.35 Crude Diff – Argus WTI Midland vs WTI Trade Month Balmo Future
NYDOCS02/1141104.6 2 

19.C.36 Crude Diff – Argus WTI Houston vs WTI 1st Line Balmo Future

19.C.37 Crude Diff – Argus WTI Houston vs WTI Trade Month Balmo Future

19.C.38 Crude Diff – Argus Sour Crude Index (ASCI) Diff Trade-Month Future

19.C.39 Crude Diff – TMX SYN 1B Index Future

19.C.40 Crude Diff – TMX SW 1A Index Balmo Future

19.C.41 Crude Diff – TMX UHC 1B Index Future

19.C.42 RESERVED 

19.C.43 Crude Diff – WTI 1st Line vs Brent 1st Line Balmo Future

19.C.44 Crude Diff – WTI vs Brent Bullet Future

19.C.45 Crude Diff – WTI 1-Month Calendar Spread Future

19.C.46 Crude Diff – WTI 12-Month Calendar Spread Future

19.C.47 Condensate Diff – TMX C5 1B Index Future

19.C.48 Diesel Diff – Gulf Coast ULSD vs Low Sulphur Gasoil 1st Line Future

19.C.49 Fuel Oil Diff – New York 1% Fuel Oil vs 1% FOB NWE Cargoes Fuel Oil Future

19.C.50 Fuel Oil Diff – New York 1% Fuel Oil vs 1% FOB NWE Cargoes Fuel Oil Balmo Future

19.C.51 Fuel Oil Diff – New York 1% Fuel Oil (Platts) vs USGC HSFO (Platts) Future

19.C.52 Fuel Oil Diff – New York 1% Fuel Oil (Platts) vs USGC HSFO (Platts) Balmo Future

19.C.53 Fuel Oil Diff – New York 3.0% Fuel Oil (Platts) vs USGC HSFO (Platts) Future

19.C.54 Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in 

Bbls)

19.C.55 Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Balmo Future

(in Bbls)

19.C.56 Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges (Platts) Future (in 

MTs)

19.C.57 Diesel Diff – Gulf Coast ULSD vs Heating Oil 1st Line Future

19.C.58 Diesel Diff – Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Balmo Future

19.C.59 Diesel Diff – Daily Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Future

19.C.60 Diesel Diff – Gulf Coast ULSD (Platts) vs Gulf Coast Jet Fuel (Platts) Future

19.C.61 Diesel Diff – Argus ULSD NYH Buckeye Pipeline vs Heating Oil 1st Line Future

19.C.62 Diesel Diff – Argus ULSD NYH Colonial Offline vs Heating Oil 1st Line Future

19.C.63 Diesel Diff – ULSD NYH Colonial Offline (Platts) vs Heating Oil 1st Line Future

19.C.64 Diesel Diff – Argus 62-Grade NYH ULSD vs Heating Oil 1st Line Future

19.C.65 Diesel Diff – Argus 67-Grade NYH ULSD vs Heating Oil 1st Line Future

19.C.66 Diesel Diff – 67-Grade USGC ULSD (Platts) vs Heating Oil 1st Line Future

19.C.67 Diesel Diff – Group 3 ULSD (Platts) vs Heating Oil 1st Line Future

19.C.68 Diesel Diff – Group 3 ULSD (OPIS) vs Heating Oil 1st Line Future

19.C.69 Heating Oil Arb – Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line Future (in Bbls)

19.C.70 Heating Oil Arb – Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line Balmo Future (in Bbls)
NYDOCS02/1141104.6 3 

19.C.71 Jet Fuel Diff – Gulf Coast Jet Fuel vs Heating Oil 1st Line Future

19.C.72 Jet Fuel Diff – Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line Balmo Future

19.C.73 Jet Fuel DIff – Daily Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line Future

19.C.74 Jet Fuel Diff – LA Jet Fuel (Platts) vs Heating Oil 1st Line Future

19.C.75 Jet Fuel Diff – LA Jet Fuel (Platts) vs Heating Oil 1st Line Balmo Future

19.C.76 Jet Fuel Diff – Argus NYH Jet Fuel vs Heating Oil 1st Line Future

19.C.77 Jet Fuel Diff – Argus NYH Jet Fuel vs Heating Oil 1st Line Balmo Future

19.C.78 Diesel Diff – Diesel 10ppm FOB ARA Barges (Platts) vs Heating Oil 1st Line Future

19.C.79 Diesel Diff – ULSD 10ppm CIF Med Cargoes (Platts) vs Heating Oil 1st Line Future

19.C.80 Diesel Diff – ULSD 10ppm CIF NWE Cargoes (Platts) vs Heating Oil 1st Line Future

19.C.81 Fuel Oil Diff – Fuel Oil 380 CST Singapore (Platts) vs USGC HSFO (Platts) Future (in Bbls)

19.C.82 Gasoline Diff – RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam Barge Future

19.C.83 Gasoline Diff – RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam Barges Balmo 

Future

19.C.84 Gasoline Diff – RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam Barges Mini Future

19.C.85 Gasoline Diff – RBOB Gasoline 1st Line vs Argus Eurobob Oxy FOB Rotterdam Barges Balmo Mini 

Future

19.C.86 Gasoline Diff – RBOB Gasoline 1-Month Calendar Spread Future

19.C.87 Gasoline Diff – Gulf Coast Unl 87 Gasoline Prompt Pipeline (Platts) vs RBOB Gasoline 1st Line 

Future

19.C.88 Gasoline Diff – Gulf Coast Unl 87 Gasoline Prompt Pipeline (Platts) vs RBOB Gasoline 1st Line 

Balmo Future

19.C.89 Gasoline Diff – Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) vs RBOB Gasoline 1st Line 

Future

19.C.90 Gasoline Diff – Gulf Coast CBOB 87 GasOline Prompt Pipeline (Platts) vs RBOB Gasoline 1st Line 

Balmo Future

19.C.91 Gasoline Diff – Group 3 Sub-octane Gasoline (Platts) vs RBOB Gasoline 1st Line Future

19.C.92 Gasoline Diff – Group 3 Sub-Octane Gasoline (Platts) vs RBOB Gasoline 1st Line Balmo Future

19.C.93 Gasoline Diff – Group 3 V-Grade Sub-octane Gasoline (OPIS) vs RBOB Gasoline 1st Line Future

19.C.94 Heating Oil Arb – Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line Future (in MTs)

19.C.95 Crude Diff – TMX WCS 1B Index Balmo Future

19.C.96 Crude Diff – TMX WCS 1A Index Balmo Future

19.C.97 Crude Diff – Argus ANS vs Brent 1st Line Future

19.C.98 Heating Oil Diff – EU-Style Heating Oil vs Low Sulphur Gasoil Future

19.C.99 Natural Gasoline, OPIS Mt. Belvieu Non-TET vs Naphtha CIF NWE Cargoes (Platts) Future

19.C.100 Daily WTI 1-Month Calendar Spread Future

19.C.101 Diesel Diff – New York Harbor ULSD 1-Month Calendar Spread Future
NYDOCS02/1141104.6 4 

DIFFERENTIAL FUTURES CONTRACTS – CRUDE OIL AND REFINED PRODUCTS 

19.C.1 CRUDE DIFF – ARGUS WCS (CUSHING) CRUDE OIL TRADE MONTH FUTURE 

Product Name Crude Diff – Argus WCS (Cushing) Crude Oil Trade Month Future 

Contract Description A cash settled future based on the Argus daily assessment price for WCS 

(Western Canadian Select) basis Cushing. The Argus WCS (Cushing) Crude 

Oil Trade Month Future is expressed as a differential to the WTI 1st Line Future 

(Calendar Month Average). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the average of the “Diff weighted 

average” quotations appearing in the “Argus Crude” report under the heading 

“US Gulf Coast and Midcontinent”, subheading “Midcontinent” for “WCS 

Cushing”, base “CMA Nymex” for each business day (as specified below) in the 

determination period. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 5 

19.C.2 CRUDE DIFF – ARGUS LLS VS BRENT 1ST LINE FUTURE 

Product Name Crude Diff – Argus LLS vs Brent 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for Light Louisiana Sweet Crude Oil (1st Month) and the ICE 

daily settlement price for Brent 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “LLS” and the average of the 

settlement prices as made public by ICE for the ICE Futures Europe Brent 1st

Line Future for each business day (as specified below) in the determination 

period. 

Non-Common Pricing Applies. 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be used 

except for the expiration date of the commodity’s underlying delivery month’s 

futures contract. On such date, the applicable pricing quotation will be rolled to 

the following month’s futures contract. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 6 

19.C.3 CRUDE DIFF – ARGUS LLS VS WTI 1ST LINE FUTURE 

Product Name Crude Diff – Argus LLS vs WTI 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for Light Louisiana Sweet Crude Oil (1st Month) and the ICE 

daily settlement price for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “LLS” and the average of the 

settlement prices as made public by ICE for the ICE WTI 1st Line Future for 

each business day (as specified below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 7 

19.C.4 CRUDE DIFF – ARGUS LLS VS WTI TRADE MONTH FUTURE 

Product Name Crude Diff – Argus LLS vs WTI Trade Month Future

Contract Description A cash settled future based on the difference between the Argus daily 

assessment price for Light Louisiana Sweet Crude Oil (1st Month) and the Argus 

daily assessment price for WTI Formula Basis (1st Month). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline”, 

subheading “Diff” for “LLS” for each business day (as specified below) in the 

determination period. 

The determination period shall be the trade month period beginning with the 

first business day after the 25th calendar day two months prior to the contract 

month through the last business day that falls on or before the 25th calendar day 

of the month prior to the contract month. If the 25th calendar day is a weekend 

or holiday, the trade month period shall end on the first business day prior to the 

25th calendar day. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 8 

19.C.5 CRUDE DIFF – ARGUS MARS VS WTI 1ST LINE FUTURE 

Product Name Crude Diff – Argus Mars vs WTI 1st Line Future

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for Mars Crude Oil (1st Month) and the ICE daily settlement 

price for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “Mars” and the average of the 

settlement prices as made public by ICE for the WTI 1st Line Future for each 

business day (as specified below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 9 

19.C.6 ARGUS MARS VS WTI TRADE MONTH FUTURE 

Product Name Argus Mars vs WTI Trade Month Future 

Contract Description A cash settled future based on the difference between the Argus daily 

assessment price for Mars Crude Oil (1st Month) and the Argus daily 

assessment price for WTI Formula Basis (1st Month) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline”, 

subheading “Diff” for “Mars” for each business day (as specified below) in the 

determination period. 

The determination period shall be the trade month period beginning with the 

first business day after the 25th calendar day two months prior to the contract 

month through the last business day that falls on or before the 25th calendar day 

of the month prior to the contract month. If the 25th calendar day is a weekend 

or holiday, the trade month period shall end on the first business day prior to the 

25th calendar day. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 10 

19.C.7 CRUDE DIFF – ARGUS MARS VS BRENT 1ST LINE FUTURE 

Product Name Crude Diff – Argus Mars vs Brent 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for Mars Crude Oil (1st Month) and the ICE daily settlement 

price for Brent 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “Mars” and the average of the 

settlement prices as made public by ICE for the ICE Futures Europe Brent 1st

Line Future for each business day (as specified below) in the determination 

period. 

Non-Common Pricing Applies. 

Roll Adjust Provision The nearby month settlement quotation for ICE Futures Europe Brent Futures 

will be used except for the expiration date of the commodity’s underlying 

delivery month’s futures contract. On such date, the applicable pricing 

quotation will be rolled to the following month’s futures contract. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 11 

19.C.8 CRUDE DIFF – ARGUS WTI CMA TRADE MONTH FUTURE 

Product Name Crude Diff – Argus WTI CMA Trade Month Future 

Contract Description A cash settled future based on the Argus daily assessment price for Argus WTI 

vs NYMEX WTI CMA 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US Gulf Coast And 

Midcontinent” subheading “WTI” and “Diff weighted average” for “WTI Diff 

to CMA NYMEX” for each business day (as specified below) in the 

determination period. 

The determination period shall be the trade month period beginning with the 

first business day after the 25th calendar day two months prior to the contract 

month through the last business day that falls on or before the 25th calendar day 

of the month prior to the contract month. If the 25th calendar day is a weekend 

or holiday, the trade month period shall end on the first business day prior to the 

25th calendar day. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 12 

19.C.9 CRUDE DIFF – ARGUS WTS VS WTI 1ST LINE FUTURE 

Product Name Crude Diff – Argus WTS vs WTI 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for WTS (1st Month) and the ICE daily settlement price for 

WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “Gulf Coast and Midcontinent Domestic”, subheading “Weighted 

average” for “WTS” (1st month) and the average of the settlement prices as 

made public by ICE for the ICE WTI 1st Line Future for each business day (as 

specified below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 13 

19.C.10 CRUDE DIFF – ARGUS WTS VS WTI TRADE MONTH FUTURE 

Product Name Crude Diff – Argus WTS vs WTI Trade Month Future 

Contract Description A cash settled future based on the difference between the Argus daily 

assessment price for WTS (1st Month) and the Argus daily assessment price for 

WTI Formula Basis (1st Month) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “Gulf Coast and 

Midcontinent Domestic”, subheading “Diff weighted average” for “WTS” (1st

month), for each business day (as specified below) in the determination period. 

The determination period shall be the trade month period beginning with the 

first business day after the 25th calendar day two months prior to the contract 

month through the last business day that falls on or before the 25th calendar day 

of the month prior to the contract month. If the 25th calendar day is a weekend 

or holiday, the trade month period shall end on the first business day prior to the 

25th calendar day. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 14 

19.C.11 CRUDE DIFF – ARGUS WTI MIDLAND VS WTI 1ST LINE FUTURE 

Product Name Crude Diff – Argus WTI Midland vs WTI 1

st Line Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for WTI Midland (1st Month) and the ICE daily settlement 

price for WTI 1st Line Future 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “WTI”, subheading “Weighted average” for “WTI Midland” and the 

average of the settlement prices as made public by ICE for the ICE WTI 1st Line 

Future for each business day (as specified below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 15 

19.C.12 CRUDE DIFF – ARGUS WTI MIDLAND VS WTI TRADE MONTH FUTURE 

Product Name Crude Diff – Argus WTI Midland vs WTI Trade Month Future 

Contract Description A cash settled future based on the difference between the Argus daily 

assessment price for WTI Midland (1st Month) and the Argus daily assessment 

price for WTI Formula Basis (1st Month). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “WTI”, subheading 

“Diff weighted average” for “WTI Midland” (1st month), for each business day 

(as specified below) in the determination period. 

The determination period shall be the trade month period beginning with the 

first business day after the 25th calendar day two months prior to the contract 

month through the last business day that falls on or before the 25th calendar day 

of the month prior to the contract month. If the 25th calendar day is a weekend 

or holiday, the trade month period shall end on the first business day prior to the 

25th calendar day. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 16 

19.C.13 CRUDE DIFF – ARGUS WTI MIDLAND VS ARGUS WTS TRADE MONTH FUTURE 

Product Name Crude Diff – Argus WTI Midland vs Argus WTS Trade Month Future 

Contract Description A cash settled future based on the difference between the Argus daily 

assessment price for WTI Midland (1st Month) and the Argus daily assessment 

price for WTS (1st Month). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the difference between the average 

of the quotations appearing in the “Argus Crude” report under the heading 

“WTI” subheading “Weighted average” for “WTI Midland” (1st Month) and the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “Gulf coast and midcontinent domestic” subheading “Weighted 

average” for “WTS” (1st Month) for each business day (as specified below) in 

the determination period. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 17 

19.C.14 CRUDE DIFF – ARGUS WTI HOUSTON VS WTI 1ST LINE FUTURE 

Product Name Argus WTI Houston vs WTI 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for WTI Houston (1st Month) Weighted Average and the daily 

settlement price for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “WTI” subheading “Weighted average” for “WTI Houston” (1st Month) 

and the average of the settlement prices as made public by ICE for the front 

month ICE WTI 1st Line Future contract for each business day (as specified 

below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 18 

19.C.15 CRUDE DIFF – ARGUS WTI HOUSTON VS WTI TRADE MONTH FUTURE 

Product Name Crude Diff – Argus WTI Houston vs WTI Trade Month Future 

Contract Description A cash settled future based on the Argus daily assessment price for WTI 

Houston (1st Month) Diff weighted average. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US Gulf Coast And 

Midcontinent” subheading “WTI” and “Diff weighted average” for “WTI 

Houston” (1st month), for each business day (as specified below) in the 

determination period. 

The determination period shall be the trade month period beginning with the 

first business day after the 25th calendar day two months prior to the contract 

month through the last business day that falls on or before the 25th calendar day 

of the month prior to the contract month. If the 25th calendar day is a weekend 

or holiday, the trade month period shall end on the first business day prior to the 

25th calendar day. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 19 

19.C.16 CRUDE DIFF – ARGUS WTI HOUSTON VS ARGUS WTI MIDLAND TRADE MONTH FUTURE 

Product Name Crude Diff – Argus WTI Houston vs Argus WTI Midland Trade Month 

Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for WTI Houston (1st Month) Weighted Average and the Argus 

daily assessment price for WTI Midland (1st Month) Weighted Average. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the difference between the average 

of the quotations appearing in the “Argus Crude” report under the heading “US 

Gulf Coast and Midcontinent” subheading “WTI” for “WTI Houston” (1st

Month) Weighted Average and the average of the quotations appearing in the 

“Argus Crude” report under the heading “US Gulf Coast and Midcontinent” 

subheading “WTI” for “WTI Midland” (1st Month) Weighted Average for each 

business day (as specified below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 20 

19.C.17 CRUDE DIFF – ARGUS SOUR CRUDE INDEX (ASCI) DIFF CALENDAR FUTURE 

Product Name Crude Diff – Argus Sour Crude Index (ASCI) Diff Calendar Future 

Contract Description A monthly cash settled differential future based on the Argus daily assessment 

price for Sour Crude Index (ASCI) Diff Calendar Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the daily price 

quotations appearing in the “Argus Crude” report under the heading “Argus 

Sour Crude Index” for “ASCI-Weighted Diff” for each business day (as 

specified below) in the determination period. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 21 

19.C.18 CRUDE DIFF – TMX SYN 1A INDEX FUTURE 

Product Name Crude Diff – TMX SYN 1A Index Future 

Contract Description A monthly cash settled future based on the TMX SYN (Light Sweet Synthetic 

Crude) Monthly Volume Weighted Average Price Index (TMX SYN 1a). The 

TMX SYN 1a Index is expressed as a differential to the NYMEX WTI 1st Line 

Future (Calendar Month Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year 

Final Settlement Price A price in USD and cents per barrel based on the TMX SYN 1a Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same calendar month 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 22 

19.C.19 CRUDE DIFF – TMX WCS 1B INDEX FUTURE 

Product Name Crude Diff – TMX WCS 1B Index Future 

Contract Description A monthly cash settled future based on the TMX WCS (Western Canadian 

Select) Daily Weighted Average Price Index (TMX WCS 1b). The TMX WCS 

1b Index is expressed as a differential to the NYMEX WTI 1st Line Future 

(Calendar Month Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year 

Final Settlement Price A price in USD and cents per barrel based on the TMX WCS 1b Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same calendar month 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 23 

19.C.20 CRUDE DIFF – TMX WCS 1A INDEX FUTURE 

Product Name Crude Diff – TMX WCS 1A Index Future 

Contract Description A monthly cash settled future based on the TMX WCS (Western Canadian 

Select) Monthly Volume Weighted Average Price Index (TMX WCS 1a). The 

TMX WCS 1a Index is expressed as a differential to the NYMEX WTI 1st Line 

Future (Calendar Month Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year. 

Final Settlement Price A price in USD and cents per barrel based on the TMX WCS 1a Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same calendar month. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 24 

19.C.21 CRUDE DIFF – TMX SW 1A INDEX FUTURE 

Product Name Crude Diff – TMX SW 1A Index Future 

Contract Description A monthly cash settled future based on the TMX SW (Sweet Crude) Monthly 

Volume Weighted Average Price Index (TMX SW 1a). The TMX SW 1a Index 

is expressed as a differential to the NYMEX WTI 1st Line Future (Calendar 

Month Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year 

Final Settlement Price A price in USD and cents per barrel based on the TMX SW 1a Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same calendar month 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 25 

19.C.22 CRUDE DIFF – TMX UHC 1A INDEX FUTURE 

Product Name Crude Diff – TMX UHC 1A Index Future 

Contract Description A monthly cash settled future based on the TMX UHC (Sweet at Clearbrook) 

Monthly Volume Weighted Average Price Index (TMX UHC 1a). The TMX 

UHC 1a Index is expressed as a differential to the NYMEX WTI 1st Line Future 

(Calendar Month Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year. 

Final Settlement Price A price in USD and cents per barrel based on the TMX UHC 1a Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same calendar month. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 26 

19.C.23 CRUDE DIFF – TMX LSB 1A INDEX FUTURE 

Product Name Crude Diff – TMX LSB 1A Index Future 

Contract Description A monthly cash settled future based on the TMX LSB (Light Sour Blend at 

Superior) Monthly Volume Weighted Average Price Index (TMX LSB 1a). The 

TMX LSB 1a Index is expressed as a differential to the NYMEX WTI 1st Line 

Future (Calendar Month Average). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year. 

Final Settlement Price A price in USD and cents per barrel based on the TMX LSB 1a Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same month 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 27 

19.C.24 CRUDE DIFF – WTI 1ST LINE VS BRENT 1ST LINE FUTURE 

Product Name Crude Diff – WTI 1st Line vs Brent 1st Line Future

Contract Description A monthly cash settled future based on the ICE daily settlement price for WTI 

1

st Line Future and the ICE daily settlement price for Brent 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last business day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by ICE for the front month WTI 

1

st Line Future contract and the average of the settlement prices as made public 

by ICE for the front month ICE Futures Europe Brent 1st Line Future contract 

for each business day (as specified below) in the determination period. 

Roll Adjust Provision The nearby month settlement quotation for ICE Futures Europe Brent Crude 

Futures will be used except for the expiration date of the commodity’s 

underlying delivery month’s futures contract. On such date, the applicable 

pricing quotation will be rolled to the following month’s futures contract. 

Contract Series Up to 72 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 28 

19.C.25 CONDENSATE DIFF – TMX C5 1A INDEX FUTURE 

Product Name Condensate Diff – TMX C5 1A Index Future 

Contract Description A monthly cash settled future based on the TMX C5 (Canadian Condensate) 

Monthly Volume Weighted Average Price Index (TMX C5 1a). The TMX C5 

1a Index is expressed as a differential to the NYMEX WTI 1st Line Future 

(Calendar Month Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year 

Final Settlement Price A price in USD and cents per barrel based on the TMX C5 1a Index, as 

published by NGX. The index pricing period for each contract month begins on 

the first Canadian business day of the calendar month prior to the contract 

month and ends on the Canadian business day prior to the NOS date (as 

published by Enbridge) in the same calendar month 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 29 

19.C.26 CRUDE DIFF – ARGUS BAKKEN (CLEARBROOK) CRUDE OIL FUTURE 

Product Name Crude Diff – Argus Bakken (Clearbrook) Crude Oil Future 

Contract Description A monthly cash settled future based on the Argus daily assessment price for the 

Bakken basis Clearbrook. The Argus Bakken (Clearbrook) Crude Oil Future is 

expressed as a differential to the WTI 1st Line Future (Calendar Month Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year 

Final Settlement Price A price in USD and cents per barrel based on the average of the high and low 

quotations appearing in the “Argus Crude” report under the heading “ US Gulf 

coast and midcontinent pipeline”, subheading “Diff low” and “Diff high” for 

“Bakken”, basis “CMA Nym” for each business day (as specified below) in the 

determination period. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 30 

19.C.27 CRUDE DIFF – ARGUS LLS VS DATED BRENT (PLATTS) FUTURE 

Product Name Crude Diff – Argus LLS vs Dated Brent (Platts) Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for Light Louisiana Sweet Crude Oil (1st Month) and the Platts 

daily assessment price for Dated Brent. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “LLS” and the average of the 

“Mid” quotations appearing in the “Platts Crude Oil Marketwire” under the 

heading “Key benchmarks ($/barrel)” for “Brent (Dated)” for each business day 

(as specified below) in the determination period.

Non-Common Pricing Applies.

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude and Platts Crude Oil Marketwire 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 31 

19.C.28 CRUDE DIFF – ARGUS LLS VS WTI 1ST LINE BALMO FUTURE 

Product Name Crude Diff – Argus LLS vs WTI 1st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Argus daily assessment price for Light Louisiana Sweet Crude Oil (1st Month) 

and the ICE daily settlement price for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “LLS” and the average of the 

settlement prices as made public by ICE for the ICE WTI 1st Line Future for 

each business day (as specified below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 32 

19.C.29 CRUDE DIFF – ARGUS LLS VS WTI TRADE MONTH BALMO FUTURE 

Product Name Crude Diff – Argus LLS vs WTI Trade Month Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Argus daily assessment price for Light Louisiana Sweet Crude Oil (1st Month) 

and the Argus daily assessment price for WTI Formula Basis (1st Month). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline”, 

subheading “Diff” for “LLS” for each business day (as specified below) in the 

determination period. 

The average of the LLS (1st month) differential weighted average (Diff 

weighted average) price taken from Argus Media, is based upon the weighted 

average floating price of LLS minus the “WTI Formula Basis” price from Argus 

Media, for the trade month period beginning with the first business day after the 

25th calendar day two months prior to the contract month through the last 

business day that falls on or before the 25th calendar day of the month prior to 

the contract month. If the 25th calendar day is a weekend or holiday, the trade 

month period shall end on the first business day prior to the 25th calendar day. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 33 

19.C.30 CRUDE DIFF – ARGUS MARS VS WTI 1ST LINE BALMO FUTURE 

Product Name Crude Diff – Argus Mars vs WTI 1st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Argus daily assessment price for Mars Crude Oil (1st Month) and the ICE 

settlement price for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “US pipeline”, subheading “VWA” for “Mars” and the average of the 

settlement prices as made public by ICE for the front month WTI 1st Line 

Future for each business day (as specified below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 34 

19.C.31 CRUDE DIFF – ARGUS MARS VS WTI TRADE MONTH BALMO FUTURE 

Product Name Crude Diff – Argus Mars vs WTI Trade Month Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Argus daily assessment price for Mars Crude Oil (1st Month) and the Argus 

daily assessment price for WTI Formula Basis (1st Month). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US pipeline”, 

subheading “Diff” for “Mars” for each business day (as specified below) in the 

determination period. 

The average of the Mars (1st month) differential weighted average (Diff 

weighted average) price taken from Argus Media, is based upon the weighted 

average floating price of Mars minus the “WTI Formula Basis” price from 

Argus Media, for the Trade month period beginning with the first business day 

after the 25th calendar day two months prior to the contract month through the 

last business day that falls on or before the 25th calendar day of the month prior 

to the contract month. If the 25th calendar day is a weekend or holiday, the 

Trade month period shall end on the first business day prior to the 25th calendar 

day. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 35 

19.C.32 CRUDE DIFF – ARGUS WTS VS WTI 1ST LINE BALMO FUTURE 

Product Name Crude Diff – Argus WTS vs WTI 1st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Argus daily assessment price for WTS (1st Month) and the ICE settlement price 

for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “Gulf coast and midcontinent domestic”, subheading “Weighted 

average” for “WTS” (1st month) and the average of the settlement prices as

made public by ICE for the front month WTI 1st Line Future for each business 

day (as specified below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 36 

19.C.33 CRUDE DIFF – ARGUS WTS VS WTI TRADE MONTH BALMO FUTURE 

Product Name Crude Diff – Argus WTS vs WTI Trade Month Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Argus daily assessment price for WTS (1st Month) and the Argus daily 

assessment price for WTI Formula Basis (1st Month). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “Gulf coast and 

midcontinent domestic”, subheading “Diff weighted average” for “WTS” (1st

month), for each business day (as specified below) in the determination period. 

The average of the WTS (1st month) differential weighted average (Diff 

weighted average) price taken from Argus Media, is based upon the weighted 

average floating price of WTS minus the “WTI Formula Basis” price from 

Argus Media, for the trade month period beginning with the first business day 

after the 25th calendar day two months prior to the contract month through the 

last business day that falls on or before the 25th calendar day of the month prior 

to the contract month. If the 25th calendar day is a weekend or holiday, the 

trade month period shall end on the first business day prior to the 25th calendar 

day. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 37 

19.C.34 CRUDE DIFF – ARGUS WTI MIDLAND VS WTI 1ST LINE BALMO FUTURE 

Product Name Crude Diff – Argus WTI Midland vs WTI 1

st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Argus daily assessment price for WTI Midland (1st Month) and the ICE 

settlement price for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “WTI”, subheading “Weighted average” for “WTI Midland” and the 

average of the settlement prices as made public by ICE for the front month WTI 

1

st Line Future for each business day (as specified below) in the determination 

period. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 38 

19.C.35 CRUDE DIFF – ARGUS WTI MIDLAND VS WTI TRADE MONTH BALMO FUTURE 

Product Name Crude Diff – Argus WTI Midland vs WTI Trade Month Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Argus daily assessment price for WTI Midland (1st Month) and the Argus daily 

assessment price for WTI Formula Basis (1st Month). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “WTI”, subheading 

“Diff weighted average” for “WTI Midland” (1st month), for each business day 

(as specified below) in the determination period. 

The average of the WTI Midland (1st month) differential weighted average (Diff 

weighted average) price taken from Argus Media, is based upon the weighted 

average floating price of WTI Midland minus the “WTI Formula Basis” price 

from Argus Media, for the Trade month period beginning with the first business 

day after the 25th calendar day two months prior to the contract month through 

the last business day that falls on or before the 25th calendar day of the month 

prior to the contract month. If the 25th calendar day is a weekend or holiday, 

the Trade month period shall end on the first business day prior to the 25th 

calendar day. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 39 

19.C.36 CRUDE DIFF – ARGUS WTI HOUSTON VS WTI 1ST LINE BALMO FUTURE 

Product Name Crude Diff – Argus WTI Houston vs WTI 1

st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Argus daily assessment price for WTI Houston (1st Month) Weighted Average 

and the ICE settlement price for WTI 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the “Argus Crude” report under the 

heading “WTI” subheading “Weighted average” for “WTI Houston” (1st Month) 

and the average of the settlement prices as made public by ICE for the front 

month WTI 1st Line Future contract for each business day (as specified below) 

in the determination period. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 40 

19.C.37 CRUDE DIFF – ARGUS WTI HOUSTON VS WTI TRADE MONTH BALMO FUTURE 

Product Name Crude Diff – Argus WTI Houston vs WTI Trade Month Balmo Future 

Contract Description A balance of the month cash settled future based on the Argus daily assessment 

price for WTI Houston (1st Month) Diff weighted average. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls on 

or before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or holiday, trading shall cease on the first 

business day prior to the 25th calendar day. 

Final Settlement Price A price in USD and cents per barrel based on the average of the quotations 

appearing in the “Argus Crude” report under the heading “US Gulf Coast And 

Midcontinent” subheading “WTI” and “Diff weighted average” for “WTI 

Houston” (1st month), for each business day (as specified below) in the 

determination period. 

The average of the WTI Houston (1st month) differential weighted average (Diff 

weighted average) price taken from Argus Media, is based upon the weighted 

average floating price of WTI Houston minus the “WTI Formula Basis” price 

from Argus Media, for the Trade month period beginning with the first business 

day after the 25th calendar day two months prior to the contract month through 

the last business day that falls on or before the 25th calendar day of the month 

prior to the contract month. If the 25th calendar day is a weekend or holiday, 

the Trade month period shall end on the first business day prior to the 25th 

calendar day. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 41 

19.C.38 CRUDE DIFF – ARGUS SOUR CRUDE INDEX (ASCI) DIFF TRADE-MONTH FUTURE 

Product Name Crude Diff – Argus Sour Crude Index (ASCI) Diff Trade-Month Future 

Contract Description A monthly cash settled differential future based on the Argus daily assessment 

price for Sour Crude Index (ASCI) Diff Trade-Month Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the average of the daily price 

quotations appearing in the “Argus Crude” report under the heading “Argus 

Sour Crude Index” for “ASCI-Weighted Diff” for each day that it is determined 

during the trade month. 

The trade month begins with the first business day after the 25th calendar day 

two months prior to the contract month through the last day that falls on or 

before the 25th calendar day of the month prior to the contract month. If the 

25th calendar day is a weekend or a holiday, the trade month period shall end on 

the first business day prior to the 25th calendar day. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 42 

19.C.39 CRUDE DIFF – TMX SYN 1B INDEX FUTURE 

Product Name Crude Diff – TMX SYN 1B Index Future 

Contract Description A monthly cash settled future based on the TMX SYN (Light Sweet Synthetic 

Crude) Daily Weighted Average Price Index (TMX SYN 1b). The TMX SYN 

1b Index is expressed as a differential to the NYMEX WTI 1st Line Future 

(Calendar Month Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year 

Final Settlement Price A price in USD and cents per barrel based on the TMX SYN 1b Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same calendar month 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 43 

19.C.40 CRUDE DIFF – TMX SW 1A INDEX BALMO FUTURE 

Product Name Crude Diff – TMX SW 1A Index Balmo Future 

Contract Description A balance of the month cash settled future based on the TMX SW (Sweet) 

Monthly Volume Weighted Average Price Index (TMX SW 1a). The TMX SW 

1a Index is expressed as a differential to the NYMEX WTI 1st Line Future 

(Calendar Month Average). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year. 

Final Settlement Price A price in USD and cents per barrel based on the TMX SW 1a Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same calendar month. 

Contract Series Front Month Only 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 44 

19.C.41 CRUDE DIFF – TMX UHC 1B INDEX FUTURE 

Product Name Crude Diff – TMX UHC 1B Index Future 

Contract Description A monthly cash settled future based on the TMX UHC (Sweet at Clearbrook) 

Daily Weighted Average Price Index (TMX UHC 1b). The TMX UHC 1b 

Index is expressed as a differential to the NYMEX WTI 1st Line Future 

(Calendar Month Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year. 

Final Settlement Price A price in USD and cents per barrel based on the TMX UHC 1b Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same calendar month 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 45 

19.C.42 RESERVED 

19.C.43 CRUDE DIFF – WTI 1ST LINE VS BRENT 1ST LINE BALMO FUTURE 

Product Name Crude Diff – WTI 1st Line vs Brent 1st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the ICE daily settlement 

price for WTI 1st Line Future and the ICE daily settlement price for Brent 1st

Line Future 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last business day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the settlement prices as made public by ICE for the front month WTI 

1

st Line Future contract and the average of the settlement prices as made public 

by ICE for the front month ICE Futures Europe Brent 1st Line Future contract 

for each business day (as specified below) in the determination period 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Crude Futures will 

be used except for the expiration date of the commodity’s underlying delivery 

month’s futures contract. On such date, the applicable pricing quotation will be 

rolled to the following month’s futures contract. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 46 

19.C.44 CRUDE DIFF – WTI VS BRENT BULLET FUTURE 

Product Name Crude Diff – WTI vs Brent Bullet Future 

Contract Description A monthly cash settled future based on the difference between the ICE daily 

settlement price for WTI Futures contract and the ICE daily settlement price for 

Brent Futures contract 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall end one business day prior to the expiration date of the ICE 

Futures Europe Brent Crude Futures Contract. 

Final Settlement Price A price in USD and cents per barrel equal to the difference between the 

settlement prices as made public by ICE for the ICE Futures Europe WTI 

Futures contract and the same month of the ICE Futures Europe ICE Brent 

Futures contract on the expiry day. 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be used 

except for the expiration date of the commodity’s underlying delivery month’s 

futures contract. On such date, the applicable pricing quotation will be rolled to 

the following month’s futures contract. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 47 

19.C.45 CRUDE DIFF – WTI 1-MONTH CALENDAR SPREAD FUTURE 

Product Name Crude Diff – WTI 1-Month Calendar Spread Future 

Contract Description A WTI Crude Oil 1-Month Calendar Spread Future 

Contract Size per lot 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Close of business on the last trading day of the underlying ICE Futures Europe 

WTI Crude Futures Contract. In this case the close of business refers to the 

settlement time of the WTI Crude Futures Contract at 19:30 London time. 

Final Settlement Price A price in USD and cents per barrel equal to the difference of the nearby ICE 

Futures Europe WTI Crude Futures Contract and the next consecutive contract 

month of the ICE Futures Europe WTI Crude Futures Contract series. 

Contract Series Up to 48 consecutive 1-month calendar spreads 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 48 

19.C.46 CRUDE DIFF – WTI 12-MONTH CALENDAR SPREAD FUTURE 

Product Name Crude Diff – WTI 12-Month Calendar Spread Future 

Contract Description A WTI Crude Oil 12-Month Calendar Spread Future 

Contract Size per lot 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Close of business on the last trading day of the underlying ICE Futures Europe 

WTI Crude Futures Contract. In this case the close of business refers to the 

settlement time of the WTI Futures at 19:30 London time. 

Final Settlement Price A price in USD and cents per barrel equal to the difference of the nearby ICE 

Futures Europe WTI Crude Futures Contract and the contract month expiring 12 

calendar months later in the ICE Futures Europe WTI Crude Futures Contract 

series. 

Contract Series Up to 2 consecutive 12-month calendar spreads 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 49 

19.C.47 CONDENSATE DIFF – TMX C5 1B INDEX FUTURE 

Product Name Condensate Diff – TMX C5 1B Index Future 

Contract Description A monthly cash settled future based on the TMX C5 (Canadian Condensate) 

Daily Weighted Average Price Index (TMX C5 1b). The TMX C5 1b Index is 

expressed as a differential to the NYMEX WTI 1st Line Future (Calendar Month 

Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease for each contract one Canadian business day prior to the 

applicable Notice of Shipments (NOS) date on the Enbridge Pipeline. The NOS 

date occurs on or about the 20th calendar day of the month, subject to 

confirmation by Enbridge Pipeline. The official schedule for the NOS dates 

will be made publicly available by Enbridge Pipeline prior to the start of each 

year 

Final Settlement Price A price in USD and cents per barrel based on the TMX C5 1b Index, as 

published by NGX. The index pricing period for each contract month begins on 

the first Canadian business day of the calendar month prior to the contract 

month and ends on the Canadian business day prior to the NOS date (as 

published by Enbridge) in the same calendar month 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 50 

19.C.48 DIESEL DIFF – GULF COAST ULSD VS LOW SULPHUR GASOIL 1ST LINE FUTURE 

Product Name Diesel Diff – Gulf Coast ULSD vs Low Sulphur Gasoil 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for US Gulf Coast ULSD and the ICE daily settlement price 

for Low Sulphur Gasoil 1st Line Future. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Distillates and 

blendstocks” and “Pipeline” for “Ultra low sulfur diesel” and the average of the 

settlement prices as made public by ICE for the Low Sulphur Gasoil 1st Line 

Future for each business day (as specified below) in the determination period. 

conversion factor: 1 metric tonne = 312.9 gallons.

Non-Common Pricing Applies 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Low Sulphur Gasoil 

Futures will be used except for the expiration date of the commodity’s 

underlying delivery month’s futures contract. On such date, the applicable 

pricing quotation will be rolled to the following month’s futures contract. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 51 

19.C.49 FUEL OIL DIFF – NEW YORK 1% FUEL OIL VS 1% FOB NWE CARGOES FUEL OIL 

FUTURE 

Product Name Fuel Oil Diff – New York 1% Fuel Oil vs 1% FOB NEW Cargoes Fuel Oil 

Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for New York 1% Fuel Oil and the Platts daily assessment 

price for 1% FOB NWE Cargoes Fuel Oil. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts US 

Marketscan” under the heading “Atlantic Coast New York” subheading 

“Residual fuel ($/bbl)” and “Cargo” for “No. 6 1%” and the average of the mean 

of the high and low quotations appearing in the “Platts European Marketscan” 

under the heading “Northwest Europe cargoes” subheading “FOB NWE” for 

“Fuel oil 1.0%” for each business day (as specified below) in the determination 

period. 

conversion factor: 1 metric tonne = 6.35 barrels. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and Platts European Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 52 

19.C.50 FUEL OIL DIFF – NEW YORK 1% FUEL OIL VS 1% FOB NWE CARGOES FUEL OIL BALMO 

FUTURE 

Product Name Fuel Oil Diff – New York 1% Fuel Oil vs 1% FOB NEW Cargoes Fuel Oil 

Balmo Future

Contract Description A balance of the month cash settled future based on the difference between the 

Platts daily assessment price for New York 1% Fuel Oil and the Platts daily 

assessment price for 1% FOB NWE Cargoes Fuel Oil. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts US 

Marketscan” under the heading “Atlantic Coast New York” subheading 

“Residual fuel ($/bbl)” and “Cargo” for “No. 6 1%” and the average of the 

mean of the high and low quotations appearing in the “Platts European 

Marketscan” under the heading “Northwest Europe cargoes” subheading “FOB 

NWE” for “Fuel oil 1.0%” for each business day (as specified below) in the 

determination period. 

conversion factor: 1 metric tonne = 6.35 barrels. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and Platts European Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 53 

19.C.51 FUEL OIL DIFF – NEW YORK 1% FUEL OIL (PLATTS) VS USGC HSFO (PLATTS) FUTURE 

Product Name Fuel Oil Diff – New York 1% Fuel Oil (Platts) vs USGC HSFO (Platts) 

Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for New York 1% Fuel Oil and the Platts daily assessment 

price for US Gulf Coast High Sulphur Fuel Oil. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the “Mid” appearing in the “Platts US Marketscan” under the 

heading “Atlantic Coast” subheading “New York Harbor” and “Delivered cargo 

($/barrel)” for “No. 6 1%” and the average of the “Mid” quotations appearing in 

the “Platts US Marketscan” under the heading “Gulf Coast” subheading 

“Houston and “$/barrel” for “USGC HSFO” for each business day (as specified 

below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 54 

19.C.52 FUEL OIL DIFF – NEW YORK 1% FUEL OIL (PLATTS) VS USGC HSFO (PLATTS) BALMO 

FUTURE 

Product Name Fuel Oil Diff – New York 1% Fuel Oil (Platts) vs USGC HSFO (Platts) 

Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Platts daily assessment price for New York 1% Fuel Oil and the Platts daily 

assessment price for US Gulf Coast High Sulphur Fuel Oil. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the “Mid” appearing in the “Platts US Marketscan” under the 

heading “Atlantic Coast” subheading “New York Harbor” and “Delivered cargo 

($/barrel)” for “No. 6 1%” and the average of the “Mid” quotations appearing in 

the “Platts US Marketscan” under the heading “Gulf Coast” subheading 

“Houston and “$/barrel” for “USGC HSFO” for each business day (as specified 

below) in the determination period. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 55 

19.C.53 FUEL OIL DIFF – NEW YORK 3.0% FUEL OIL (PLATTS) VS USGC HSFO (PLATTS) FUTURE 

Product Name Fuel Oil Diff – New York 3.0% Fuel Oil (Platts) vs USGC HSFO (Platts) 

Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for New York 3.0% Fuel Oil and the Platts daily assessment 

price for US Gulf Coast High Sulphur Fuel Oil. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the average 

of the “Mid” quotations appearing in the “Platts US Marketscan” under the 

heading “Atlantic Coast” subheading “New York Harbor” and “Delivered cargo 

($/barrel)” for “No. 6 3.0%” and the average of the “Mid” quotations appearing 

in the “Platts US Marketscan” under the heading “Gulf Coast” subheading 

“Houston” and “$/barrel” for “USGC HSFO” for each business day (as specified 

below) in the determination period. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 56 

19.C.54 FUEL OIL DIFF – USGC HSFO (PLATTS) VS FUEL OIL 3.5% FOB ROTTERDAM BARGES 

(PLATTS) FUTURE (IN BBLS) 

Product Name Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam Barges 

(Platts) Future (in bbls)

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for US Gulf Coast High Sulphur Fuel Oil and the Platts daily 

assessment price for 3.5% FOB Rotterdam Barges Fuel Oil (in bbls). 

Contract Size 1,000 barrels (157.50 metric tonnes) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” under 

the heading “Gulf Coast” subheading “Houston and “$/barrel” for “USGC 

HSFO” and the average of the “Mid” quotations appearing in the “Platts 

European Marketscan” under the heading “Northwest Europe barges” 

subheading “FOB Rotterdam” for “Fuel oil 3.5%” for each business day (as 

specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 6.35 barrels. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and Platts European Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 57 

19.C.55 FUEL OIL DIFF – USGC HSFO (PLATTS) VS FUEL OIL 3.5% FOB ROTTERDAM BARGES 

(PLATTS) BALMO FUTURE (IN BBLS) 

Product Name Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam 

Barges (Platts) Balmo Future (in bbls) 

Contract Description A balance of the month cash settled future based on the difference between the 

Platts daily assessment price for US Gulf Coast High Sulphur Fuel Oil and the 

Platts daily assessment price for 3.5% FOB Rotterdam Barges Fuel Oil (in 

bbls). 

Contract Size 1,000 barrels (157.50 metric tonnes) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” under 

the heading “Gulf Coast” subheading “Houston and “$/barrel” for “USGC 

HSFO” and the average of the “Mid” quotations appearing in the “Platts 

European Marketscan” under the heading “Northwest Europe barges” 

subheading “FOB Rotterdam” for “Fuel oil 3.5%” for each business day (as 

specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 6.35 barrels. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and Platts European Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 58 

19.C.56 FUEL OIL DIFF – USGC HSFO (PLATTS) VS FUEL OIL 3.5% FOB ROTTERDAM BARGES 

(PLATTS) FUTURE (IN MTS) 

Product Name Fuel Oil Diff – USGC HSFO (Platts) vs Fuel Oil 3.5% FOB Rotterdam 

Barges (Platts) Future (in mts) 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for US Gulf Coast High Sulphur Fuel Oil and the Platts daily 

assessment price for 3.5% FOB Rotterdam Barges Fuel Oil (in mts). 

Contract Size 1,000 metric tonnes (6,350 barrels) 

Unit of Trading Any multiple of 1,000 metric tonnes 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per metric tonne 

Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne 

Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per metric tonne based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” under 

the heading “Gulf Coast” subheading “Houston and “$/barrel” for “USGC 

HSFO” and the average of the “Mid” quotations appearing in the “Platts 

European Marketscan” under the heading “Northwest Europe barges” 

subheading “FOB Rotterdam” for “Fuel oil 3.5%” for each business day (as 

specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 6.35 barrels. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and Platts European Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 59 

19.C.57 DIESEL DIFF – GULF COAST ULSD VS HEATING OIL 1ST LINE FUTURE 

Product Name Diesel Diff – Gulf Coast ULSD vs Heating Oil 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast ULSD and the ICE daily settlement price for 

Heating Oil 1st Line Future. 

Contract Size 42,000 gallons 

Unit of Trading Any multiple of 42,000 gallons 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the high and low quotations as appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Distillates and 

blendstocks” and “Pipeline” for “Ultra low sulfur diesel” and the average of the 

mean of the high and low settlement prices as made public by ICE for the 

Heating Oil 1st Line Future for each business day (as specified below) in the 

determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 60 

19.C.58 DIESEL DIFF – GULF COAST ULSD (PLATTS) VS HEATING OIL 1ST LINE BALMO FUTURE 

Product Name Diesel Diff – Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Balmo 

Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Platts daily assessment price for Gulf Coast ULSD and the ICE daily settlement 

price for Heating Oil 1st Line Future 

Contract Size 42,000 gallons 

Unit of Trading Any multiple of 42,000 gallons 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the high and low quotations as appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Distillates and 

blendstocks” and “Pipeline” for “Ultra low sulfur diesel” and the average of the 

mean of the high and low settlement prices as made public by ICE for the 

Heating Oil 1st Line Future for each business day (as specified below) in the 

determination period. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 61 

19.C.59 DIESEL DIFF – DAILY GULF COAST ULSD (PLATTS) VS HEATING OIL 1ST LINE FUTURE 

Product Name Diesel Diff – Daily Gulf Coast ULSD (Platts) vs Heating Oil 1st Line Future 

Contract Description A cash settled future based on the difference between the Platts daily assessment 

price for Gulf Coast ULSD and the ICE settlement price for Heating Oil 1st Line 

Future. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons) 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Second business day after the nominal contract date

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations as appearing in the “Platts US Marketscan” 

under the heading “Gulf Coast” subheading “Houston” and “Prompt Pipeline” 

for “Ultra low sulfur diesel” and the settlement prices as made public by 

NYMEX for the front month NY Harbor ULSD Future for each business day (as 

specified below) in the determination period. 

Common Pricing applies. 

Contract Series 130 days 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 62 

19.C.60 DIESEL DIFF – GULF COAST ULSD (PLATTS) VS GULF COAST JET FUEL (PLATTS) 

FUTURE 

Product Name Diesel Diff – Gulf Coast ULSD (Platts) vs Gulf Coast Jet Fuel (Platts) 

Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast Ultra Low Sulfur Diesel and the Platts daily 

assessment price for Gulf Coast Jet 54 Pipeline 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” under 

the heading “Gulf Coast” subheading “Houston” and “Prompt Pipeline” for 

“Ultra low sulfur diesel” and the average of the “Mid” quotations appearing in 

the “Platts US Marketscan” under the heading “Gulf Coast” subheading 

“Houston” and “Prompt Pipeline” for “Jet 54” for each business day (as 

specified below) in the determination period 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 63 

19.C.61 DIESEL DIFF – ARGUS ULSD NYH BUCKEYE PIPELINE VS HEATING OIL 1ST LINE 

FUTURE 

Product Name Diesel Diff – Argus ULSD NYH Buckeye Pipeline vs Heating Oil 1st Line 

Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for Argus ULSD NYH Buckeye Pipeline and the ICE 

settlement price for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus US 

Products” under the heading “Distillates” subheading “Atlantic Coast” and 

“Buckeye” for “ULSD” and the average of the settlement prices as made public 

by NYMEX for the front month NY Harbor ULSD Future for each business day 

(as specified below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus US Products and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 64 

19.C.62 DIESEL DIFF – ARGUS ULSD NYH COLONIAL OFFLINE VS HEATING OIL 1ST LINE 

FUTURE 

Product Name Diesel Diff – Argus ULSD NYH Colonial Offline vs Heating Oil 1st Line 

Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for ULSD NYH Colonial Offline and the ICE settlement price 

for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus US 

Products” under the heading “Distillates” subheading “Atlantic Coast” and 

“Colonial Linden” for “ULSD” and the average of the settlement prices as made 

public by NYMEX for the front month NY Harbor ULSD Future for each 

business day (as specified below) in the determination period. 

Common Pricing applies. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus US Products and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 65 

19.C.63 DIESEL DIFF – ULSD NYH COLONIAL OFFLINE (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE 

Product Name Diesel Diff – ULSD NYH Colonial Offline (Platts) vs Heating Oil 1st Line 

Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for ULSD NYH Colonial Offline and the ICE settlement price 

for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “Atlantic Coast” subheading “CPL Linden” for “ULSD” and the 

average of the settlement prices as made public by NYMEX for the front month 

NY Harbor ULSD Future for each business day (as specified below) in the 

determination period. 

Common Pricing applies. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan and NYMEX

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 66 

19.C.64 DIESEL DIFF – ARGUS 62-GRADE NYH ULSD VS HEATING OIL 1ST LINE FUTURE 

Product Name Diesel Diff – Argus 62-Grade NYH ULSD vs Heating Oil 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for NYH 62-Grade ULSD and the ICE daily settlement price 

for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus US 

Products” under the heading “Distillates” subheading “Atlantic Coast” and 

“New York barge” for “ULS diesel prompt” and the average of the settlement 

prices as made public by ICE for the Heating Oil 1st Line Future for each 

business day (as specified below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus US Products 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 67 

19.C.65 DIESEL DIFF – ARGUS 67-GRADE NYH ULSD VS HEATING OIL 1ST LINE FUTURE 

Product Name Diesel Diff – Argus 67-Grade NYH ULSD vs Heating Oil 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for NYH 67-Grade ULSD and the ICE daily settlement price 

for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus US 

Products” under the heading “Distillates” subheading “Atlantic Coast” and 

“New York barge” for “ULS heating oil” and the average of the settlement 

prices as made public by ICE for the Heating Oil 1st Line Future for each 

business day (as specified below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus US Products 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 68 

19.C.66 DIESEL DIFF – 67-GRADE USGC ULSD (PLATTS) VS HEATING OIL 1ST LINE FUTURE 

Product Name Diesel Diff – 67-Grade USGC ULSD (Platts) vs Heating Oil 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast 67-Grade ULSD and the ICE daily settlement 

price for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “Gulf Coast” subheading “Houston” and “Prompt Pipeline” for “ULS 

Heating Oil” and the average of the settlement prices as made public by ICE for 

the Heating Oil 1st Line Future for each business day (as specified below) in the 

determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 69 

19.C.67 DIESEL DIFF – GROUP 3 ULSD (PLATTS) VS HEATING OIL 1ST LINE FUTURE 

Product Name Diesel Diff – Group 3 ULSD (Platts) vs Heating Oil 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Midwest Group 3 ULSD and the ICE daily settlement price 

for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “Midwest (c/gal)” subheading “Group 3” for “ULSD” and the average 

of the settlement prices as made public by ICE for the Heating Oil 1st Line 

Future for each business day (as specified below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 70 

19.C.68 DIESEL DIFF – GROUP 3 ULSD (OPIS) VS HEATING OIL 1ST LINE FUTURE 

Product Name Diesel Diff – Group 3 ULSD (OPIS) vs Heating Oil 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the OPIS daily 

assessment price for Midwest Group 3 ULSD and the ICE daily settlement price 

for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mean” quotations appearing in the “OPIS Full-Day Refined 

Spots Report” under the heading “OPIS U.S. Midwest Spot Distillate Prices 

(cts/gal)” subheading “Group 3” and “Prompt Prices” for “ULSD” and the 

settlement prices as made public by ICE for the Heating Oil 1st Line Future for 

each business day (as specified below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for OPIS Full-Day Refined Spots Report 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 71 

19.C.69 HEATING OIL ARB – HEATING OIL 1ST LINE VS LOW SULPHUR GASOIL 1ST LINE FUTURE 

(IN BBLS) 

Product Name Heating Oil Arb – Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line 

Future (in bbls) 

Contract Description A monthly cash settled future based on the difference between the ICE 

settlement price for Heating Oil 1st Line Future and the ICE settlement price for 

Low Sulphur Gasoil 1st Line Future (in bbls). 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per gallon 

Settlement Price Quotation One hundredth of one cent ($ 0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($ 0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by NYMEX for the front month 

NY Harbor ULSD Future and the average of the settlement prices as made 

public by ICE for the front month ICE Futures Europe Low Sulphur Gasoil 

Future for each business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 312.9 gallons.

Roll Adjust Provision The nearby month quotation for ICE Low Sulphur Gasoil Futures will be used 

except for the expiration date of the commodity’s underlying delivery month’s 

futures contract. On such date, the applicable pricing quotation will be rolled to 

the following month’s futures contract. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 72 

19.C.70 HEATING OIL ARB – HEATING OIL 1ST LINE VS LOW SULPHUR GASOIL 1ST LINE BALMO 

FUTURE (IN BBLS) 

Product Name Heating Oil Arb – Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line 

Balmo Future (in bbls) 

Contract Description A balance of the month cash settled future based on the difference between the 

ICE settlement price for Heating Oil 1st Line Future and the ICE settlement 

price for Low Sulphur Gasoil 1st Line Future (in bbls). 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per gallon 

Settlement Price Quotation One hundredth of one cent ($ 0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($ 0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by NYMEX for the front month 

NY Harbor ULSD Future and the average of the settlement prices as made 

public by ICE for the front month ICE Futures Europe Low Sulphur Gasoil 

Future for each business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 312.9 gallons.

Roll Adjust Provision The nearby month quotation for ICE Low Sulphur Gasoil Futures will be used 

except for the expiration date of the commodity’s underlying delivery month’s 

futures contract. On such date, the applicable pricing quotation will be rolled to 

the following month’s futures contract. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 73 

19.C.71 JET FUEL DIFF – GULF COAST JET FUEL VS HEATING OIL 1ST LINE FUTURE 

Product Name Jet Fuel Diff – Gulf Coast Jet Fuel vs Heating Oil 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast Jet 54 Pipeline and the ICE daily settlement 

price for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Distillates and 

blendstocks” and “Pipeline” for “Jet 54” and the average of the settlement prices 

as made public by ICE for the Heating Oil 1st Line Future for each business day 

(as specified below) in the determination period. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 74 

19.C.72 JET FUEL DIFF – GULF COAST JET FUEL (PLATTS) VS HEATING OIL 1ST LINE BALMO 

FUTURE 

Product Name Jet Fuel Diff – Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line Balmo 

Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Platts daily assessment price for Gulf Coast Jet 54 Pipeline and the ICE daily 

settlement price for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” under 

the heading “Gulf Coast” subheading “Houston” and “Prompt Pipeline” for “Jet 

54” and the average of the settlement prices as made public by ICE for the 

Heating Oil 1st Line Future for each business day (as specified below) in the 

determination period. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 75 

19.C.73 JET FUEL DIFF – DAILY GULF COAST JET FUEL (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE 

Product Name Jet Fuel Diff – Daily Gulf Coast Jet Fuel (Platts) vs Heating Oil 1st Line 

Future 

Contract Description A cash settled future based on the difference between the Platts daily assessment 

price for Gulf Coast Jet 54 Pipeline and the ICE settlement price for Heating Oil 

1

st Line Future. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons) 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Second business day after the nominal contract date

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in the “Platts US Marketscan” under 

the heading “Gulf Coast” subheading “Houston” and “Prompt Pipeline” for “Jet 

54” and the settlement prices as made public by NYMEX for the front month 

NY Harbor ULSD Future for each business day (as specified below) in the 

determination period. 

Common Pricing applies. 

Contract Series 130 days 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 76 

19.C.74 JET FUEL DIFF – LA JET FUEL (PLATTS) VS HEATING OIL 1ST LINE FUTURE 

Product Name Jet Fuel Diff – LA Jet Fuel (Platts) vs Heating Oil 1st Line Future 

Contract Description A monthly cash settled future based on the Platts daily assessment price for LA 

Jet Fuel and the ICE daily settlement price for Heating Oil 1st Line Future 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “West Coast” subheading “Los Angeles” for “Jet” and the average of 

the settlement prices as made public by ICE for the Heating Oil 1st Line Future 

for each business day (as specified below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 77 

19.C.75 JET FUEL DIFF – LA JET FUEL (PLATTS) VS HEATING OIL 1ST LINE BALMO FUTURE 

Product Name Jet Fuel Diff – LA Jet Fuel (Platts) vs Heating Oil 1st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the Platts daily assessment 

price for LA Jet Fuel and the ICE daily settlement price for Heating Oil 1st Line 

Future 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “West Coast” subheading “Los Angeles” for “Jet” and the average of 

the settlement prices as made public by ICE for the Heating Oil 1st Line Future 

for each business day (as specified below) in the determination period. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 78 

19.C.76 JET FUEL DIFF – ARGUS NYH JET FUEL VS HEATING OIL 1ST LINE FUTURE 

Product Name Jet Fuel Diff – Argus NYH Jet Fuel vs Heating Oil 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for Jet 54 Buckeye and the ICE daily settlement price for 

Heating Oil 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus US 

Products” under the heading “Distillates” subheading “Atlantic Coast” and 

“Buckeye” for “Jet 54” and the average of the settlement prices as made public 

by ICE for the Heating Oil 1st Line Future for each business day (as specified 

below) in the determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus US Products 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 79 

19.C.77 JET FUEL DIFF – ARGUS NYH JET FUEL VS HEATING OIL 1ST LINE BALMO FUTURE 

Product Name Jet Fuel Diff – Argus NYH Jet Fuel vs Heating Oil 1st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Argus daily assessment price for Jet 54 Buckeye and the ICE daily settlement 

price for Heating Oil 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the mean of the high and low quotations appearing in “Argus US 

Products” under the heading “Distillates” subheading “Atlantic Coast” and 

“Buckeye” for “Jet54” and the average of the settlement prices as made public 

by ICE for the Heating Oil 1st Line Future for each business day (as specified 

below) in the determination period. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus US Products 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 80 

19.C.78 DIESEL DIFF – DIESEL 10PPM FOB ARA BARGES (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE 

Product Name Diesel Diff – Diesel 10PPM FOB ARA Barges (Platts) vs Heating Oil 1st

Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Diesel 10 ppm FOB ARA Barges and the ICE settlement 

price for Heating Oil 1st Line Future. 

Contract Size 1,000 metric tonnes 

Unit of Trading Any multiple of 1,000 metric tonnes 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per metric tonne 

Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne 

Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per metric tonne based on the difference between the 

average of the “Mid” quotations appearing in the “Platts European Marketscan” 

under the heading “Northwest Europe barges” subheading “FOB Rotterdam” for 

“Diesel 10 ppm” and the average of the settlement prices as made public by 

NYMEX for the front month NY Harbor ULSD Future for each business day (as 

specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 312.9 gallons.

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts European Marketscan and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 81 

19.C.79 DIESEL DIFF – ULSD 10PPM CIF MED CARGOES (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE 

Product Name Diesel Diff – ULSD 10PPM CIF MED Cargoes (Platts) vs Heating Oil 1st

Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for ULSD 10ppm CIF Med Cargoes and the ICE settlement 

price for Heating Oil 1st Line Future. 

Contract Size 1,000 metric tonnes 

Unit of Trading Any multiple of 1,000 metric tonnes 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per metric tonne 

Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne 

Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tone 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per metric tonne based on the difference between the 

average of the “Mid” quotations appearing in the “Platts European Marketscan” 

under the heading “Mediterranean cargoes” subheading “CIF Med 

(Genova/Lavera)” for “10ppm ULSD” and the average of the settlement prices 

as made public by NYMEX for the front month NY Harbor ULSD Future for 

each business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 312.9 gallons 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts European Marketscan and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 82 

19.C.80 DIESEL DIFF – ULSD 10PPM CIF NWE CARGOES (PLATTS) VS HEATING OIL 1ST LINE 

FUTURE 

Product Name Diesel Diff – ULSD 10PPM CIF NEW Cargoes (Platts) vs Heating Oil 1st

Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for the ULSD 10ppm CIF NWE Cargoes and the ICE 

settlement price for Heating Oil 1st Line Future. 

Contract Size 1,000 metric tonnes 

Unit of Trading Any multiple of 1,000 metric tonnes 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per metric tonne 

Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne 

Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per metric tonne based on the difference between the 

average of the “Mid” quotations appearing in the “Platts European Marketscan” 

under the heading “Northwest Europe cargoes” subheading “CIF NWE/Basis 

ARA” for “ULSD 10 ppm” and the average of the settlement prices as made 

public by NYMEX for the front month NY Harbor ULSD Future for each 

business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 312.9 gallons.

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts European Marketscan and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 83 

19.C.81 FUEL OIL DIFF – FUEL OIL 380 CST SINGAPORE (PLATTS) VS USGC HSFO (PLATTS) 

FUTURE (IN BBLS)

Product Name Future Oil Diff – Fuel Oil 380 CST Singapore (Platts) vs USGC HSFO 

(Platts) Future (in bbls) 

Contract Description A monthly cash settled future based on the difference between the Platts 

daily assessment price for Singapore 380 CST Fuel Oil and the Platts daily 

assessment price for US Gulf Coast High Sulphur Fuel Oil (in bbls). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the “Mid” quotations appearing in the “Platts Asia-Pacific/Arab 

Gulf Marketscan” under the heading “Asia Products” and “Singapore” 

subheading “FOB Singapore ($/barrel)” for “HSFO 380 CST ($/mt)” and 

the average of the “Mid” quotations appearing in the “Platts US 

Marketscan” under the heading “Gulf Coast” subheading “Houston and 

“$/barrel” for “USGC HSFO” for each business day (as specified below) in 

the determination period 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 6.35 barrels. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts Asia-Pacific/Arab Gulf Marketscan and Platts 

US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 84 

19.C.82 GASOLINE DIFF – RBOB GASOLINE 1ST LINE VS ARGUS EUROBOB OXY FOB 

ROTTERDAM BARGE FUTURE 

Product Name Gasoline Diff – RBOB Gasoline 1st Line vs Argus EUROBOB OXY FOB 

Rotterdam Barge Future 

Contract Description A monthly cash settled future based on the difference between the ICE daily 

settlement price for RBOB Gasoline 1st Line Future and the Argus daily 

assessment price for Eurobob Oxy FOB Rotterdam Barges. 

Contract Size 1,000 metric tonnes (349,860 gallons) 

Unit of Trading Any multiple of 1,000 metric tonnes 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent (¢0.01) per gallon 

Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon 

Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by the ICE for the RBOB 

Gasoline 1st Line Future and the average of the mean of the high and low 

quotations appearing in the “Argus European Products Report” under the 

heading “Northwest Europe light products” subheading “barge” for “Eurobob 

oxy” for each business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 349.86 gallons. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus European Products Report

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 85 

19.C.83 GASOLINE DIFF – RBOB GASOLINE 1ST LINE VS ARGUS EUROBOB OXY FOB 

ROTTERDAM BARGES BALMO FUTURE 

Product Name Gasoline Diff – RBOB Gasoline 1st Line vs Argus EUROBOB OXY FOB 

Rotterdam Barges Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

ICE daily settlement price for RBOB Gasoline 1st Line Future and the Argus 

daily assessment price for Eurobob Oxy FOB Rotterdam Barges. 

Contract Size 1,000 metric tonnes (349,860 gallons) 

Unit of Trading Any multiple of 1,000 metric tonnes 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent (¢0.01) per gallon 

Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon 

Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by ICE for the RBOB Gasoline 

1

st Line Future and the average of the mean of the high and low quotations 

appearing in the “Argus European Products Report” under the heading 

“Northwest Europe light products” subheading “barge” for “Eurobob oxy” for 

each business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 349.86 gallons. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus European Products Report and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 86 

19.C.84 GASOLINE DIFF – RBOB GASOLINE 1ST LINE VS ARGUS EUROBOB OXY FOB 

ROTTERDAM BARGES MINI FUTURE 

Product Name Gasoline Diff – RBOB Gasoline 1st Line vs Argus EUROBOB OXY FOB 

Rotterdam Barges Mini Future 

Contract Description A monthly cash settled mini future based on the difference between the ICE 

daily settlement price for RBOB Gasoline 1st Line Future and the Argus daily 

assessment price for Eurobob Oxy FOB Rotterdam Barges. 

Contract Size 100 metric tonnes (34,986 gallons) 

Unit of Trading Any multiple of 100 metric tonnes 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent (¢0.01) per gallon 

Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon 

Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by the ICE for the RBOB 

Gasoline 1st Line Future and the average of the mean of the high and low 

quotations appearing in the “Argus European Products Report” under the 

heading “Northwest Europe light products” subheading “barge” for “Eurobob 

oxy” for each business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 349.86 gallons

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus European Products Report

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 87 

19.C.85 GASOLINE DIFF – RBOB GASOLINE 1ST LINE VS ARGUS EUROBOB OXY FOB 

ROTTERDAM BARGES BALMO MINI FUTURE 

Product Name Gasoline Diff – RBOB Gasoline 1st Line vs Argus EUROBOB OXY FOB 

Rotterdam Barges Balmo Mini Future 

Contract Description A balance of the month cash settled mini future based on the difference between 

the ICE daily settlement price for RBOB Gasoline 1st Line Future and the Argus 

daily assessment price for Eurobob Oxy FOB Rotterdam Barges. 

Contract Size 100 metric tonnes (34,986 gallons) 

Unit of Trading Any multiple of 100 metric tonnes 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent (¢0.01) per gallon 

Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon 

Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by the ICE for the RBOB 

Gasoline 1st Line Future and the average of the mean of the high and low 

quotations appearing in the “Argus European Products Report” under the 

heading “Northwest Europe light products” subheading “barge” for “Eurobob 

oxy” for each business day (as specified below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 349.86 gallons

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus European Products Report

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 88 

19.C.86 GASOLINE DIFF – RBOB GASOLINE 1-MONTH CALENDAR SPREAD FUTURE 

Product Name Gasoline Diff – RBOB Gasoline 1-Month Calendar Spread Future 

Contract Description An RBOB Gasoline 1-Month Calendar Spread Future used for the purposes of 

settling the RBOB Gasoline 1-Month Calendar Spread Option. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons) 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Trading shall cease at the end of the designated settlement period on the last 

trading day of the nearby month ICE Futures Europe RBOB Gasoline Futures 

Contract. 

Final Settlement Price A price in USD and cents per gallon equal to the difference between the 

settlement price of the nearby ICE Futures Europe RBOB Gasoline Futures 

Contract and the settlement price of the next consecutive contract month of the 

ICE Futures Europe RBOB Gasoline Futures Contract series on the Last 

Trading Day. 

Contract Series Up to 48 consecutive 1-month calendar spreads 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
NYDOCS02/1141104.6 89 

19.C.87 GASOLINE DIFF – GULF COAST UNL 87 GASOLINE PROMPT PIPELINE (PLATTS) VS 

RBOB GASOLINE 1ST LINE FUTURE 

Product Name Gasoline Diff – Gulf Coast UNL 87 Gasoline Prompt Pipeline (Platts) vs 

RBOB Gasoline 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast Unleaded 87 Gasoline Prompt Pipeline and the 

ICE daily settlement price for RBOB Gasoline 1st Line Future 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “Gulf Coast” subheading “Houston” and “Prompt Pipeline” for 

“Unleaded 87” and the average of the settlement prices as made public by ICE 

for the RBOB Gasoline 1st Line Future for each business day (as specified 

below) in the determination period 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 90 

19.C.88 GASOLINE DIFF – GULF COAST UNL 87 GASOLINE PROMPT PIPELINE (PLATTS) VS 

RBOB GASOLINE 1ST LINE BALMO FUTURE 

Product Name Gasoline Diff – Gulf Coast UNL 87 Gasoline Prompt Pipeline (Platts) vs 

RBOB Gasoline 1st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Platts daily assessment price for Gulf Coast Unleaded 87 Gasoline Prompt 

Pipeline and the ICE daily settlement price for RBOB Gasoline 1st Line Future 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “Gulf Coast” subheading “Houston” and “Prompt Pipeline” for 

“Unleaded 87” and the average of the settlement prices as made public by ICE 

for the RBOB Gasoline 1st Line Future for each business day (as specified 

below) in the determination period 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 91 

19.C.89 GASOLINE DIFF – GULF COAST CBOB 87 GASOLINE PROMPT PIPELINE (PLATTS) VS 

RBOB GASOLINE 1ST LINE FUTURE 

Product Name Gasoline Diff – Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) vs 

RBOB Gasoline 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Gulf Coast CBOB 87 Gasoline Prompt Pipeline and the 

ICE daily settlement price for RBOB Gasoline 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “Gulf Coast” subheading “Houston” and “Prompt Pipeline” for “CBOB 

87” and the average of the settlement prices as made public by ICE for the 

RBOB Gasoline 1st Line Future for each business day (as specified below) in the 

determination period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 92 

19.C.90 GASOLINE DIFF – GULF COAST CBOB 87 GASOLINE PROMPT PIPELINE (PLATTS) VS 

RBOB GASOLINE 1ST LINE BALMO FUTURE 

Product Name Gasoline Diff – Gulf Coast CBOB 87 Gasoline Prompt Pipeline (Platts) vs 

RBOB Gasoline 1st Line Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Platts daily assessment price for Gulf Coast CBOB 87 Gasoline Prompt Pipeline 

and the ICE daily settlement price for RBOB Gasoline 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “Gulf Coast” subheading “Houston” and “Prompt Pipeline” for “CBOB 

87” and the average of the settlement prices as made public by ICE for the 

RBOB Gasoline 1st Line Future for each business day (as specified below) in the 

determination period. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 93 

19.C.91 GASOLINE DIFF – GROUP 3 SUB-OCTANE GASOLINE (PLATTS) VS RBOB GASOLINE 1ST

LINE FUTURE 

Product Name Gasoline Diff – Group 3 Sub-Octane Gasoline (Platts) vs RBOB Gasoline 1st

Line Future 

Contract Description A monthly cash settled future based on the difference between the Platts daily 

assessment price for Midwest Group 3 Sub-octane Gasoline and the ICE daily 

settlement price for RBOB Gasoline 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “Midwest (c/gal)” subheading “Group 3” for “Sub-octane” and the 

average of the settlement prices as made public by ICE for the RBOB Gasoline 

1

st Line Future for each business day (as specified below) in the determination 

period. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 94 

19.C.92 GASOLINE DIFF – GROUP 3 SUB-OCTANE GASOLINE (PLATTS) VS RBOB GASOLINE 1ST

LINE BALMO FUTURE 

Product Name Gasoline Diff – Group 3 Sub-Octane Gasoline (Platts) vs RBOB Gasoline 1st

Line Balmo Future 

Contract Description A balance of the month cash settled future based on the difference between the 

Platts daily assessment price for Midwest Group 3 Sub-octane Gasoline and the 

ICE settlement price for RBOB Gasoline 1st Line Future. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mid” quotations appearing in “Platts US Marketscan” under the 

heading “Midwest (c/gal)” subheading “Group 3” for “Sub-octane” and the 

average of the settlement prices as made public by NYMEX for the front month 

RBOB Gasoline Future for each business day (as specified below) in the 

determination period. 

Common Pricing applies. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 95 

19.C.93 GASOLINE DIFF – GROUP 3 V-GRADE SUB-OCTANE GASOLINE (OPIS) VS RBOB 

GASOLINE 1ST LINE FUTURE 

Product Name Gasoline Diff – Group 3 V-Grade Sub-Octane Gasoline (OPIS) vs RBOB 

Gasoline 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the OPIS daily 

assessment price for Midwest Group 3 Sub-Octane Regular Gasoline and the 

ICE settlement price for RBOB Gasoline 1st Line Future. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Mean” quotations appearing in the “OPIS Full-Day Refined 

Spots Report” under the heading “OPIS U.S. Midwest Spot Gasoline Prices 

(cts/gal)” subheading “Group 3” and “Prompt Prices” for “Sub-Oct Reg” and 

the average of the settlement prices as made public by NYMEX for the front 

month RBOB Gasoline Future for each business day (as specified below) in the 

determination period. 

Common Pricing applies. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for OPIS Full-Day Refined Spots Report 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 96 

19.C.94 HEATING OIL ARB – HEATING OIL 1ST LINE VS LOW SULPHUR GASOIL 1ST LINE FUTURE 

(IN MTS) 

Product Name Heating Oil Arb – Heating Oil 1st Line vs Low Sulphur Gasoil 1st Line 

Future (in mts) 

Contract Description A monthly cash settled future based on the difference between the ICE 

settlement price for Heating Oil 1st Line Future and the ICE settlement price for 

Low Sulphur Gasoil 1st Line Future (in MTs). 

Contract Size 1,000 metric tonnes 

Unit of Trading Any multiple of 1,000 metric tonnes 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per metric tonne 

Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne 

Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the settlement prices as made public by NYMEX for the front month 

NY Harbor ULSD Future and the average of the settlement prices as made 

public by ICE for the front month Low Sulphur Gasoil Future for each business 

day (as specified below) in the determination period. 

Non-Common Pricing applies 

conversion factor: 1 metric tonne = 312.9 gallons.

Roll Adjust Provision The nearby month quotation for ICE Low Sulphur Gasoil Futures will be used 

except for the expiration date of the commodity’s underlying delivery month’s 

futures contract. On such date, the applicable pricing quotation will be rolled to 

the following month’s futures contract. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE and NYMEX 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 97 

19.C.95 CRUDE DIFF – TMX WCS 1B INDEX BALMO FUTURE 

Product Name Crude Diff – TMX WCS 1B Index Balmo Future

Contract Description A balance of the month cash settled future based on the TMX WCS (Western 

Canadian Select) Daily Weighted Average Price Index (TMX WCS 1b). The 

TMX WCS 1b Index is expressed as a differential to the NYMEX WTI 1st Line 

Future (Calendar Month Average) 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year 

Final Settlement Price A price in USD and cents per barrel based on the TMX WCS 1b Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same calendar month 

Contract Series Front month only. 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 98 

19.C.96 CRUDE DIFF – TMX WCS 1A INDEX BALMO FUTURE 

Product Name Crude Diff – TMX WCS 1A Index Balmo Future 

Contract Description A balance of the month cash settled future based on the TMX WCS (Western 

Canadian Select) Monthly Volume Weighted Average Price Index (TMX WCS 

1a). The TMX WCS 1a Index is expressed as a differential to the NYMEX 

WTI 1st Line Future (Calendar Month Average). 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of Shipments 

(NOS) date on the Enbridge Pipeline. The NOS date occurs on or about the 

20th calendar day of the month, subject to confirmation by Enbridge Pipeline. 

The official schedule for the NOS dates will be made publicly available by 

Enbridge Pipeline prior to the start of each year. 

Final Settlement Price A price in USD and cents per barrel based on the TMX WCS 1a Index, as 

published by NGX. The index pricing period begins on the first Canadian 

business day of the calendar month prior to the contract month and ends on the 

Canadian business day prior to the NOS date (as published by Enbridge) in the 

same calendar month. 

Contract Series Front month only 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 99 

19.C.97 CRUDE DIFF – ARGUS ANS VS BRENT 1ST LINE FUTURE 

Product Name Crude Diff – Argus ANS vs Brent 1st Line Future 

Contract Description A monthly cash settled future based on the difference between the Argus daily 

assessment price for Alaskan North Slope Crude Oil (ANS) and the ICE daily 

settlement price for Brent 1st Line Future. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per barrel based on the difference between the 

average of the quotations appearing in the "Argus Crude" report under the 

heading "US west coast waterborne" subheading “Low/High” for "ANS del" 

and the average of the settlement prices as made public by ICE for the front 

month ICE Futures Europe Brent Crude Future for each business day (as 

specified below) in the determination period. 

Non-Common Pricing Applies. 

Roll Adjust Provision The nearby month quotation for ICE Futures Europe Brent Futures will be used 

except for the expiration date of the commodity’s underlying delivery month’s 

futures contract. On such date, the applicable pricing quotation will be rolled to 

the following month’s futures contract. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude and ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 100 

19.C.98 HEATING OIL DIFF – EU-STYLE HEATING OIL VS LOW SULPHUR GASOIL FUTURE 

Product Name Heating Oil Diff – EU-Style Heating Oil vs Low Sulphur Gasoil Future 

Contract Description A monthly cash settled future based on the difference between the ICE daily 

settlement price for Heating Oil Futures and the ICE daily settlement price for 

ICE Low Sulphur Gasoil Bullet Futures. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall end one business day prior to the expiration date of the ICE 

Futures Europe Heating Oil Futures Contract. 

Final Settlement Price A price in USD and cents per barrel equal to the difference between the 

settlement prices as made public by ICE for the ICE Futures Europe Heating Oil 

Futures Contract and the ICE Futures Europe Low Sulphur Gasoil Bullet 

Futures Contract on the Last Trading Day. 

Non-Common Pricing Applies. 

conversion factor: 1 metric tonne = 312.9 gallons 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 101 

19.C.99 NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET VS NAPHTHA CIF NWE CARGOES 

(PLATTS) FUTURE 

Product Name Natural Gasoline, Opis Mt. Belvieu Non-Tet Vs Naphtha CIF NEW 

Cargoes (Platts) Future 

Description A monthly cash settled future based on the difference between the OPIS daily 

assessment price for Mt. Belvieu Non-TET Natural Gasoline and the Platts 

daily assessment price for Naphtha CIF NWE Cargoes.

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent (¢0.01) per gallon 

Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon 

Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon 

Last Trading Day Last trading day of the contract month 

Final Settlement Price A price in USD and cents per gallon based on the difference between the 

average of the “Avg” quotations appearing in the “OPIS North America LPG 

Report” under the heading “OPIS Mont Belvieu Spot Gas Liquids Prices 

(cts/gal)” subheading “Any Current Month” for “Non-TET N. Gasoline” and 

the average of the “Mid” quotations appearing in the “Platts European 

Marketscan” under the heading “Northwest Europe cargoes” subheading “CIF 

NWE/Basis ARA” for “Naphtha” for each business day (as specified in Final 

Settlement Price below) in the determination period. 

Non-Common Pricing applies. 

conversion factor: 1 metric tonne = 373.8 gallons (for Naphtha) 

Contract Series Up to 48 consecutive months 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

business days Publication days for OPIS North America LPG Report and Platts European 

Marketscan 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 102 

19.C.100 DAILY WTI 1-MONTH CALENDAR SPREAD FUTURE 

Product Name Daily WTI 1-Month Calendar Spread Future

Contract Description A Daily WTI Crude Oil 1-Month Calendar Spread Future 

Contract Size per lot 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Close of business on the day of listing. In this case the close of business refers 

to the settlement time of the WTI Crude Futures Contract at 19:30 London 

time. 

Final Settlement Price A price in USD and cents per barrel equal to the difference of the nearby ICE 

Futures Europe WTI Crude Futures Contract and the next consecutive contract 

month of the ICE Futures Europe WTI Crude Futures Contract series on the 

Last Trading Day. 

Contract Series Up to 6 consecutive business days 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
NYDOCS02/1141104.6 103 

19.C.101 DIESEL DIFF – NEW YORK HARBOR ULSD 1-MONTH CALENDAR SPREAD FUTURE 

Product Name Diesel Diff – New York Harbor ULSD 1-Month Calendar Spread Future 

Contract Description A New York Harbor ULSD 1-Month Calendar Spread Future used for the 

purposes of settling the New York Harbor ULSD Gasoline 1-Month Calendar 

Spread Option. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons) 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Trading shall cease at the end of the designated settlement period on the last 

trading day of the nearby month ICE Futures Europe New York Harbor Heating 

Oil Futures Contract. 

Final Settlement Price A price in USD and cents per gallon equal to the difference between the 

settlement price of the nearby ICE Futures Europe New York Harbor Heating 

Oil Futures Contract and the settlement price of the next consecutive contract 

month of the ICE Futures Europe New York Harbor Heating Oil Futures 

Contract series on the Last Trading Day. 

Contract Series Up to 36 consecutive 1-month calendar spreads 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
1 

SUBCHAPTER 19D NATURAL GAS LIQUIDS 

 

19.D.1 Ethane in E/P Mix, OPIS Conway In-Well Future

19.D.2 Ethane in E/P Mix, OPIS Conway In-Well Balmo Future

19.D.3 Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Future 

19.D.4 Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Balmo Future

19.D.5 Ethane, OPIS Mt. Belvieu Non-TET Future 

19.D.6 Ethane, OPIS Mt. Belvieu Non-TET Balmo Future 

19.D.7 Ethane, OPIS Mt. Belvieu Other Non-TET Future

19.D.8 Isobutane, OPIS Conway In-Well Future

19.D.9 Isobutane, OPIS Conway In-Well Balmo Future

19.D.10 Iso butane, OPIS Mt. Belvieu Non-TET Future

19.D.11 Isobutane, OPIS Mt. Belvieu Non-TET Balmo Future

19.D.12 Isobutane, OPIS Mt. Belvieu TET Future

19.D.13 Isobutane, OPIS Mt. Belvieu TET Balmo Future

19.D.14 Natural Gasoline, OPIS Conway In-Well Future

19.D.15 Natural Gasoline, OPIS Conway In-Well Balmo Future

19.D.16 Natural Gasoline, OPIS Mt. Belvieu Non-TET Future

19.D.17 Natural Gasoline, OPIS Mt. Belvieu Non-TET Balmo Future

19.D.18 Natural Gasoline, OPIS Mt. Belvieu Other Non-TET Future

19.D.19 Natural Gasoline, OPIS Mt. Belvieu TET Future

19.D.20 Natural Gasoline, OPIS Mt. Belvieu TET Balmo Future

19.D.21 Normal Butane, OPIS Conway In-Well Future

19.D.22 Normal Butane, OPIS Conway In-Well Balmo Future

19.D.23 Normal Butane, OPIS Mt. Belvieu Non-TET Future

19.D.24 Normal Butane, OPIS Mt. Belvieu Non-TET Balmo Future

19.D.25 Normal Butane, OPIS Mt. Belvieu Other Non-TET Future

19.D.26 Normal Butane, OPIS Mt. Belvieu TET Future

19.D.27 Normal Butane, OPIS Mt. Belvieu TET Balmo Future

19.D.28 Butane, Argus Far East Index (AFEI) Future

19.D.29 Butane, Argus Far East Index (AFEI) Balmo Future

19.D.30 Butane, Argus Far East Index (AFEI) Mini Future

19.D.31 Butane, Argus CIF ARA Future

19.D.32 Butane, Argus CIF ARA Balmo Future
2 

19.D.33 Butane, Argus CIF ARA Mini Future

19.D.34 Butane, Argus Saudi CP Future

19.D.35 Butane, Argus Saudi CP Mini Future

19.D.36 Butane, Argus Sonatrach CP Future

19.D.37 Propane, Argus CIF ARA Future

19.D.38 Propane, Argus CIF ARA Balmo Future

19.D.39 Propane, Argus CIF ARA Mini Future

19.D.40 Propane, Argus Far East Index (AFEI) Future

19.D.41 Propane, Argus Far East Index (AFEI) Balmo Future

19.D.42 Propane, Argus Far East Index (AFEI) Mini Future

19.D.43 Propane, Argus Saudi CP Future

19.D.44 Propane, Argus Saudi CP Mini Future

19.D.45 Propane, Argus Sonatrach CP Future

19.D.46 Propane, OPIS CIF ARA ToT Cargoes Future

19.D.47 Propane, OPIS Conway In-Well Future

19.D.48 Propane, OPIS Conway In-Well Balmo Future

19.D.49 Propane, OPIS Hattiesburg Future

19.D.50 Propane, OPIS Mt. Belvieu Non-TET Future

19.D.51 Propane, OPIS Mt. Belvieu Non-TET Balmo Future

19.D.52 Propane, OPIS Mt. Belvieu Other Non-TET Future

19.D.53 Propane, OPIS Mt. Belvieu Other Non-TET Balmo Future

19.D.54 Propane, OPIS Mt. Belvieu TET Balmo Future

19.D.55 Propane, OPIS Mt. Belvieu TET Balmo Future

19.D.56 Propane, OPIS Mt. Belvieu TET Mini Future

19.D.57 Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) Future

19.D.58 Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index (AFEI) Future

19.D.59 Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future

19.D.60 Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future

19.D.61 Natural Gasoline, OPIS Mt. Belvieu Non-TET vs WTI 1st Line Future

19.D.62 [RESERVED] 

19.D.63 NGL Basket, OPIS Mt. Belvieu Non-TET Future

19.D.64 Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Future

19.D.65 Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo Future
3 

19.D.66 Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) Future

19.D.67 Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo Future

19.D.68 Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Future

19.D.69 Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Balmo Future

19.D.70 Ethane, OPIS Mt. Belvieu Non-TET Average Price Option

19.D.71 Natural Gasoline, OPIS Mt. Belvieu Non-TET Average Price Option

19.D.72 Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Option

19.D.73 Propane, OPIS Conway In-Well Average Price Option

19.D.74 Propane, OPIS Mt. Belvieu TET Average Price Option

19.D.75 Ethane in E/P Mix, OPIS Conway In-Well Average Price Option

19.D.76 Propane, Argus CIF ARA Average Price Option

19.D.77 Propane, Argus Far East Index (AFEI) Average Price Option

 
4 

SUBCHAPTER 19D. NATURAL GAS LIQUIDS 

19.D.1 ETHANE IN E/P MIX, OPIS CONWAY IN-WELL FUTURE 

Product Name Ethane in E/P Mix, OPIS Conway In-Well Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS prices 

a) Description “NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of ethane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: Ethane (in E-P): Any Current Month “ in the issue of OPIS that 

reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
5 

19.D.2 ETHANE IN E/P MIX, OPIS CONWAY IN-WELL BALMO FUTURE 

Product Name Ethane in E/P Mix, OPIS Conway In-Well Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS prices 

a) Description “NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of ethane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: Ethane (in E-P): Any Current Month “ in the issue of OPIS that 

reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
6 

19.D.3 ETHANE IN E/P MIX, OPIS MT. BELVIEU NON-TET FUTURE 

Product Name Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU EP MIX-OPIS prices 

a) Description “NGL-MONT BELVIEU EP MIX-OPIS” means that the price for a Pricing Date will 

be that day’s Specified Price per gallon of EP Mix for delivery on the Delivery Date, 

stated in US cents, published under the heading “Mont Belvieu Spot Gas Liquids Prices: 

EP Mix: Any Current Month” in the issue of OPIS that reports prices effective on that 

Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
7 

19.D.4 ETHANE IN E/P MIX, OPIS MT. BELVIEU NON-TET BALMO FUTURE 

Product Name Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU EP MIX-OPIS prices 

a) Description “NGL-MONT BELVIEU EP MIX-OPIS” means that the price for a Pricing Date will 

be that day’s Specified Price per gallon of EP Mix for delivery on the Delivery Date, 

stated in US cents, published under the heading “Mont Belvieu Spot Gas Liquids Prices: 

EP Mix: Any Current Month” in the issue of OPIS that reports prices effective on that 

Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
8 

19.D.5 ETHANE, OPIS MT. BELVIEU NON-TET FUTURE 

Product Name Ethane, OPIS Mt. Belvieu Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU PURITY ETHANE-OPIS prices 

a) Description “NGL-MONT BELVIEU PURITY ETHANE-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of ethane for delivery on the Delivery 

Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas Liquids 

Prices: Purity Ethane: Any Current Month” in the issue of OPIS that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
9 

19.D.6 ETHANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE 

Product Name Ethane, OPIS Mt. Belvieu Non-TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU PURITY ETHANE-OPIS prices 

a) Description “NGL-MONT BELVIEU PURITY ETHANE-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of ethane for delivery on the Delivery 

Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas Liquids 

Prices: Purity Ethane: Any Current Month” in the issue of OPIS that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
10 

19.D.7 ETHANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE 

Product Name Ethane, OPIS MT. Belvieu Other Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons) 

Currency US Dollars and cents 

Trading Price 

Quotation 

One thousandth of one cent ($0.00001) per gallon; 

Settlement Price 

Quotation 

One thousandth of one cent ($0.00001) per gallon; 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor 

for this contract is 42 

gallons = 1 barrel. 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU Purity Ethane (Other Non-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU Purity Ethane (Other Non-TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of ethane for delivery on 

the Delivery Date, stated in U.S. cents, published under the heading “Mont Belvieu Spot 

Gas Liquids Prices: Other Non-TET Purity Ethane: Any Current Month” in the issue 

of OPIS North America LPG Report that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Contract Series Up to 72 consecutive monthly contract periods 

business days Publication days for OPIS 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
11 

19.D.8 ISOBUTANE, OPIS CONWAY IN-WELL FUTURE 

Product Name Isobutane, OPIS Conway In-Well Future

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS prices 

a) Description “NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of isobutane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: Isobutane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
12 

19.D.9 ISOBUTANE, OPIS CONWAY IN-WELL BALMO FUTURE 

Product Name Isobutane, OPIS Conway In-Well Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS prices 

a) Description “NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of isobutane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: Isobutane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
13 

19.D.10 ISO BUTANE, OPIS MT. BELVIEU NON-TET FUTURE 

Product Name Isobutane, OPIS Mt. Belvieu Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of isobutane for delivery on 

the Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot 

Gas Liquids Prices: Non-TET Isobutane: Any Current Month” in the issue of OPIS 

that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
14 

19.D.11 ISOBUTANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE 

Product Name Isobutane, OPIS Mt. Belvieu Non-TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of isobutane for delivery on 

the Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot 

Gas Liquids Prices: Non-TET Isobutane: Any Current Month” in the issue of OPIS 

that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
15 

19.D.12 ISOBUTANE, OPIS MT. BELVIEU TET FUTURE 

Product Name Isobutane, OPIS Mt. Belvieu TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of isobutane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas 

Liquids Prices: TET Isobutane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
16 

19.D.13 ISOBUTANE, OPIS MT. BELVIEU TET BALMO FUTURE 

Product Name Isobutane, OPIS Mt. Belvieu TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of isobutane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas 

Liquids Prices: TET Isobutane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
17 

19.D.14 NATURAL GASOLINE, OPIS CONWAY IN-WELL FUTURE 

Product Name Natural Gasoline, OPIS Conway In-Well Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS prices 

a) Description “NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of natural gasoline for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: N. Gasoline: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
18 

19.D.15 NATURAL GASOLINE, OPIS CONWAY IN-WELL BALMO FUTURE 

Product Name Natural Gasoline, OPIS Conway In-Well Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS prices 

a) Description “NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of natural gasoline for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: N. Gasoline: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
19 

19.D.16 NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET FUTURE 

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of natural gasoline for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Non-TET N. Gasoline: Any Current Month” in the issue of 

OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
20 

19.D.17 NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET BALMO FUTURE 

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of natural gasoline for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Non-TET N. Gasoline: Any Current Month” in the issue of 

OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
21 

19.D.18 NATURAL GASOLINE, OPIS MT. BELVIEU OTHER NON-TET FUTURE 

Product Name Natural Gasoline, OPIS MT. Belvieu Other Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published 

by OPIS for the location specified in Final Settlement Price below. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons) 

Currency US Dollars and cents 

Trading Price Quotation One thousandth of one cent ($0.00001) per gallon; 

Settlement Price 

Quotation 

One thousandth of one cent ($0.00001) per gallon; 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU N. Gasoline (Other Non-TET)-OPIS prices

a) Description “NGL-MONT BELVIEU N. Gasoline (Other Non-TET)-OPIS” means that the 

price for a Pricing Date will be that day’s Specified Price per gallon of natural 

gasoline for delivery on the Delivery Date, stated in U.S. cents, published under 

the heading “Mont Belvieu Spot Gas Liquids Prices: Other N. Gasoline: Any 

Current Month” in the issue of OPIS North America LPG Report that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Contract Series Up to 72 consecutive monthly contract periods 

business days Publication days for OPIS 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
22 

19.D.19 NATURAL GASOLINE, OPIS MT. BELVIEU TET FUTURE

Product Name Natural Gasoline, OPIS Mt. Belvieu TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of natural gasoline for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: TET N. Gasoline: Any Current Month” or any successor 

heading, in the issue of OPIS LP Gas Report, or any successor publication, that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
23 

19.D.20 NATURAL GASOLINE, OPIS MT. BELVIEU TET BALMO FUTURE 

Product Name Natural Gasoline, OPIS Mt. Belvieu TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of natural gasoline for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: TET N. Gasoline: Any Current Month” or any successor 

heading, in the issue of OPIS LP Gas Report, or any successor publication, that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
24 

19.D.21 NORMAL BUTANE, OPIS CONWAY IN-WELL FUTURE 

Product Name Normal Butane, OPIS Conway In-Well Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-CONWAY N. BUTANE (IN-WELL)-OPIS prices 

a) Description “NGL-CONWAY N. BUTANE (IN-WELL)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of normal butane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: N. Butane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
25 

19.D.22 NORMAL BUTANE, OPIS CONWAY IN-WELL BALMO FUTURE 

Product Name Normal Butane, OPIS Conway In-Well Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-CONWAY N. BUTANE (IN-WELL)-OPIS prices 

a) Description “NGL-CONWAY N. BUTANE (IN-WELL)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of normal butane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: N. Butane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
26 

19.D.23 NORMAL BUTANE, OPIS MT. BELVIEU NON-TET FUTURE 

Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of normal butane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Non-TET N. Butane: Any Current Month” in the issue of 

OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
27 

19.D.24 NORMAL BUTANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE 

Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of normal butane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Non-TET N. Butane: Any Current Month” in the issue of 

OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
28 

19.D.25 NORMAL BUTANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE 

Product Name Normal Butane, OPIS MT. Belvieu Other Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons) 

Currency US Dollars and cents 

Trading Price 

Quotation 

One thousandth of one cent ($0.00001) per gallon; 

Settlement Price 

Quotation 

One thousandth of one cent ($0.00001) per gallon; 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU Normal Butane (Other NON-TET)-OPIS 

prices 

a) Description “NGL-MONT BELVIEU Normal Butane (Other NON-TET)-OPIS” means that the 

price for a Pricing Date will be that day’s Specified Price per gallon of Normal 

Butane for delivery on the Delivery Date, stated in U.S. cents, published under the 

heading “Mont Belvieu Spot Gas Liquids Prices: Other Non-TET N. Butane: Any 

Current Month” in the issue of OPIS that reports prices effective on that Pricing 

Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Contract Series Up to 72 consecutive monthly contract periods 

business days Publication days for OPIS 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
29 

19.D.26 NORMAL BUTANE, OPIS MT. BELVIEU TET FUTURE 

Product Name Normal Butane, OPIS Mt. Belvieu TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS 

prices 

a) Description “NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS” means that the 

price for a Pricing Date will be that day’s Specified Price per gallon of normal butane 

for delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: TET N. Butane: Any Current Month” in the 

issue of OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
30 

19.D.27 NORMAL BUTANE, OPIS MT. BELVIEU TET BALMO FUTURE 

Product Name Normal Butane, OPIS Mt. Belvieu TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS 

prices 

a) Description “NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS” means that the 

price for a Pricing Date will be that day’s Specified Price per gallon of normal butane 

for delivery on the Delivery Date, stated in US cents, published under the heading 

“Mont Belvieu Spot Gas Liquids Prices: TET N. Butane: Any Current Month” in the 

issue of OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
31 

19.D.28 BUTANE, ARGUS FAR EAST INDEX (AFEI) FUTURE 

Product Name Butane, Argus Far East Index (AFEI) Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

Argus International LPG for the location specified below. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tones 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per metric tone 

Settlement Price 

Quotation 

One tenth of one cent ($0.001) per metric tonne 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL 

LPG prices 

a) Description “NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” means that 

the price for a Pricing Date will be that day’s Specified Price per tonne of butane, stated 

in US Dollars, published under the heading “Asia-Pacific: Argus Far East IndexTM 

(AFEITM): Butane” in the issue of Argus International LPG that reports prices effective 

on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
32 

19.D.29 BUTANE, ARGUS FAR EAST INDEX (AFEI) BALMO FUTURE 

Product Name Butane, Argus Far East Index (AFEI) Balmo Future 

Contract Description A balance of month cash settled future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final Settlement 

Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL 

LPG prices 

a) Description “NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of butane, 

stated in US Dollars, published under the heading “Asia-Pacific: Argus Far East 

IndexTM (AFEITM): Butane” in the issue of Argus International LPG that reports 

prices effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
33 

19.D.30 BUTANE, ARGUS FAR EAST INDEX (AFEI) MINI FUTURE 

Product Name Butane, Argus Far East Index (AFEI) Mini Future 

Contract Description A monthly cash settled mini future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final Settlement 

Price below. 

Settlement Method Cash settlement 

Contract Size 100 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL 

LPG prices 

a) Description “NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of butane, 

stated in US Dollars, published under the heading “Asia-Pacific: Argus Far East 

IndexTM (AFEITM): Butane” in the issue of Argus International LPG that reports 

prices effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
34 

19.D.31 BUTANE, ARGUS CIF ARA FUTURE 

Product Name Butane, Argus CIF ARA Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

Argus International LPG for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Trading Price 

Quotation 

One cent ($0.01) per metric tonne 

Settlement Price 

Quotation 

One tenth of one cent ($0.001) per metric tonne 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG prices 

a) Description “NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of butane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Butane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
35 

19.D.32 BUTANE, ARGUS CIF ARA BALMO FUTURE 

Product Name Butane, Argus CIF ARA Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final Settlement 

Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG prices 

a) Description “NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of butane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Butane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
36 

19.D.33 BUTANE, ARGUS CIF ARA MINI FUTURE 

Product Name Butane, Argus CIF ARA Mini Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

Argus International LPG for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 100 metric tonnes 

Currency US Dollars and cents 

Trading Price 

Quotation 

One cent ($0.01) per metric tonne 

Settlement Price 

Quotation 

One tenth of one cent ($0.001) per metric tonne 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG prices 

a) Description “NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of butane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Butane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
37 

19.D.34 BUTANE, ARGUS SAUDI CP FUTURE 

Product Name Butane, Argus Saudi CP Future 

Contract Description A cash settled future equal to the price published by Argus International LPG for the 

location specified in Final Settlement Price below.

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per metric tonne 

Settlement Price 

Quotation 

One tenth of one cent ($0.001) per metric tonne 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day prior to the contract month 

Final Settlement Price The NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG price for 

the Pricing Date 

a) Description “NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG” means that 

the price for a Pricing Date will be that day’s Specified Price per tonne of butane for 

delivery on the Delivery Date, stated in US Dollars, published under the heading 

“International comparisons: Saudi Aramco: Butane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date 

b) Pricing Date First business day of the contract month 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
38 

19.D.35 BUTANE, ARGUS SAUDI CP MINI FUTURE 

Product Name Butane, Argus Saudi CP Mini Future 

Contract Description A cash settled mini future equal to the price published by Argus International LPG for 

the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 100 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day prior to the contract month 

Final Settlement Price The NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG price 

for the Pricing Date 

a) Description “NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of butane 

for delivery on the Delivery Date, stated in US Dollars, published under the heading 

“International comparisons: Saudi Aramco: Butane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date 

b) Pricing Date First business day of the contract month 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
39 

19.D.36 BUTANE, ARGUS SONATRACH CP FUTURE 

Product Name Butane, Argus Sonatrach CP Future 

Contract Description A cash settled future equal to the price published by Argus International LPG for the 

location specified in Final Settlement Price below.

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Trading Price 

Quotation 

One cent ($0.01) per metric tonne 

Settlement Price 

Quotation 

One tenth of one cent ($0.001) per metric tonne 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne; 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day prior to the contract month 

Final Settlement Price The NGL-BUTANE (SONATRACH FOB BETHIOUA)-ARGUS 

INTERNATIONAL LPG price for the Pricing Date 

a) Description “NGL-BUTANE (SONATRACH FOB BETHIOUA)-ARGUS INTERNATIONAL 

LPG “ means that the price for a Pricing Date will be that day’s Specified Price per 

tonne of butane for delivery on the Delivery Date, stated in US Dollars, published 

under the heading “International comparisons: Sonatrach fob Bethioua: Butane” in 

the issue of Argus International LPG that reports prices effective on that Pricing Date. 

b) Pricing Date First business day of the contract month 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
40 

19.D.37 PROPANE, ARGUS CIF ARA FUTURE 

Product Name Propane, Argus CIF ARA Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

Argus International LPG for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG prices 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG “ means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
41 

19.D.38 PROPANE, ARGUS CIF ARA BALMO FUTURE 

Product Name Propane, Argus CIF ARA Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final Settlement 

Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG prices 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
42 

19.D.39 PROPANE, ARGUS CIF ARA MINI FUTURE 

Product Name Propane, Argus CIF ARA Mini Future 

Contract Description A monthly cash settled mini future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final Settlement 

Price below. 

Settlement Method Cash settlement 

Contract Size 100 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG prices 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG “ means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
43 

19.D.40 PROPANE, ARGUS FAR EAST INDEX (AFEI) FUTURE 

Product Name Propane, Argus Far East Index (AFEI) Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

Argus International LPG for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL 

prices 

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG “ means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of propane, 

stated in US Dollars, published under the heading “Asia-Pacific: Argus Far East Index 

TM (AFEI TM): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
44 

19.D.41 PROPANE, ARGUS FAR EAST INDEX (AFEI) BALMO FUTURE 

Product Name Propane, Argus Far East Index (AFEI) Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by Argus International LPG for the location specified in Final Settlement 

Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL 

LPG prices. 

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of propane, 

stated in US Dollars, published under the heading “Asia-Pacific: Argus Far East Index 

TM (AFEI TM): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
45 

19.D.42 PROPANE, ARGUS FAR EAST INDEX (AFEI) MINI FUTURE 

Product Name Propane, Argus Far East Index (AFEI) Mini Future 

Contract Description A monthly cash settled mini future based upon the average of the daily prices published 

by Argus International LPG for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 100 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement The average of NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL 

LPG prices 

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG “ means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of propane, 

stated in US Dollars, published under the heading “Asia-Pacific: Argus Far East 

IndexTM (AFEITM): Propane” in the issue of Argus International LPG that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
46 

19.D.43 PROPANE, ARGUS SAUDI CP FUTURE 

Product Name Propane, Argus Saudi CP Future 

Contract Description A cash settled future equal to the price published by Argus International LPG for the 

location specified in Final Settlement Price below.

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne; 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day prior to the contract month 

Final Settlement Price The NGL-PROPANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG price for 

the Pricing Date 

a) Description “NGL-PROPANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG “ means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of propane 

for delivery on the Delivery Date, stated in US Dollars, published under the heading 

“International comparisons: Saudi Aramco: Propane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date. 

b) Pricing Date First business day of the contract month 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
47 

19.D.44 PROPANE, ARGUS SAUDI CP MINI FUTURE 

Product Name Butane, Argus Saudi CP Mini Future 

Contract Description A cash settled mini future equal to the price published by Argus International LPG for 

the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 100 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day prior to the contract month 

Final Settlement Price The NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG price for 

the Pricing Date 

a) Description “NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG” means that 

the price for a Pricing Date will be that day’s Specified Price per tonne of butane for 

delivery on the Delivery Date, stated in US Dollars, published under the heading 

“International comparisons: Saudi Aramco: Butane” in the issue of Argus 

International LPG that reports prices effective on that Pricing Date 

b) Pricing Date First business day of the contract month 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
48 

19.D.45 PROPANE, ARGUS SONATRACH CP FUTURE 

Product Name Propane, Argus Sonatrach CP Future 

Contract Description A cash settled future equal to the price published by Argus International LPG for the 

location specified in Final Settlement Price below.

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day prior to the contract month 

Final Settlement Price The NGL-PROPANE (SONATRACH FOB BETHIOUA)-ARGUS 

INTERNATIONAL LPG price for the Pricing Date 

a) Description “NGL-PROPANE (SONATRACH FOB BETHIOUA)-ARGUS INTERNATIONAL 

LPG “ means that the price for a Pricing Date will be that day’s Specified Price per 

tonne of propane for delivery on the Delivery Date, stated in US Dollars, published 

under the heading “International comparisons: Sonatrach fob Bethioua: Propane” in 

the issue of Argus International LPG that reports prices effective on that Pricing Date. 

b) Pricing Date First business day of the contract month 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
49 

19.D.46 PROPANE, OPIS CIF ARA TOT CARGOES FUTURE 

Product Name Propane, OPIS CIF ARA ToT Cargoes Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of Propane cif ARA (ToT Cargoes) prices

a) Description “Propane cif ARA (ToT Cargoes)” means that the price for a Pricing Date will be that 

day’s Specified Price per tonne of propane for delivery on the Delivery Date, stated in 

US Dollars, published under the heading “OPIS LPG Settle Prices ($/mt)”, subheading 

“Propane cif ARA (ToT Cargoes)” in the issue of OPIS Europe LPG & Naphtha Report 

that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
50 

19.D.47 PROPANE, OPIS CONWAY IN-WELL FUTURE 

Product Name Propane, OPIS Conway In-Well Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-CONWAY PROPANE (IN-WELL) prices 

a) Description “NGL-CONWAY PROPANE (IN-WELL)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: Propane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
51 

19.D.48 PROPANE, OPIS CONWAY IN-WELL BALMO FUTURE 

Product Name Propane, OPIS Conway In-Well Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-CONWAY PROPANE (IN-WELL)-OPIS prices 

a) Description “NGL-CONWAY PROPANE (IN-WELL)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: Propane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
52 

19.D.49 PROPANE, OPIS HATTIESBURG FUTURE 

Product Name Propane, OPIS Hattiesburg Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-HATTIESBURG PROPANE (IN-LINE)-OPIS prices 

a) Description “NGL-HATTIESBURG PROPANE (IN-LINE)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Hattiesburg Spot Gas 

Liquids Prices: Propane-In-Line: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
53 

19.D.50 PROPANE, OPIS MT. BELVIEU NON-TET FUTURE 

Product Name Propane, OPIS Mt. Belvieu Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas 

Liquids Prices: Non-TET Propane: Any Current Month” in the issue of OPIS that 

reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
54 

19.D.51 PROPANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE 

Product Name Propane, OPIS Mt. Belvieu Non-TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas 

Liquids Prices: Non-TET Propane: Any Current Month” in the issue of OPIS that 

reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
55 

19.D.52 PROPANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE 

Product Name Propane, OPIS Mt. Belvieu Other Non-TET Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon. 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in U.S. cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Other Non-TET Propane: Any Current Month” in the issue of 

OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
56 

19.D.53 PROPANE, OPIS MT. BELVIEU OTHER NON-TET BALMO FUTURE 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon. 

The conversion factor for this contract is 42 gallons = 1 barrel 

Contract Series Up to 2 months of balance-of-month contract periods

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS” means that the price 

for a Pricing Date will be that day’s Specified Price per gallon of propane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Other Non-TET Propane: Any Current Month” in the issue 

of OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
57 

19.D.54 PROPANE, OPIS MT. BELVIEU TET BALMO FUTURE 

Product Name Propane, OPIS Mt. Belvieu TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas 

Liquids Prices: TET Propane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
58 

19.D.55 PROPANE, OPIS MT. BELVIEU TET BALMO FUTURE 

Product Name Propane, OPIS Mt. Belvieu TET Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily prices 

published by OPIS for the location specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas 

Liquids Prices: TET Propane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
59 

19.D.56 PROPANE, OPIS MT. BELVIEU TET MINI FUTURE 

Product Name Propane, OPIS Mt. Belvieu TET Mini Future 

Contract Description A monthly cash settled future based upon the average of the daily prices published by 

OPIS for the location specified in below. 

Settlement Method Cash settlement 

Contract Size 100 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of NGL-MONT BELVIEU PROPANE (TET)-OPIS prices 

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas 

Liquids Prices: TET Propane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
60 

19.D.57 PROPANE, OPIS MT. BELVIEU TET VS PROPANE, ARGUS FAR EAST INDEX (AFEI) 

FUTURE 

Product Name Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) Future 

Contract Description A monthly cash settled future based upon the mathematical result of subtracting the 

average of the daily prices published by Argus International LPG for the location 

specified in Reference Price B from the average of the daily prices published by OPIS 

for the location specified in Reference Price A. 

For purposes of determining the Final Settlement Price, the OPIS price will be 

converted each day to US Dollars and cents per metric tonne, rounded to the nearest 

cent. The conversion factor will be 521 gallons per metric tonne. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price B 

prices 

Reference Price A NGL-MONT BELVIEU PROPANE (TET)-OPIS 

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in U.S. cents, published under the heading “Mont Belvieu Spot 

Gas Liquids Prices: TET Propane: Any Current Month” in the issue of OPIS that 

reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Reference Price B NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG 

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of propane, 

stated in U.S. Dollars, published under the heading “Asia-Pacific: Refrigerated cargoes: 

Argus Far East IndexTM (AFEITM): Propane” in the issue of Argus International LPG 

that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date 
61 

Product Name Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) Future 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
62 

19.D.58 PROPANE, OPIS MT. BELVIEU NON-TET VS PROPANE, ARGUS FAR EAST INDEX (AFEI) 

FUTURE 

Product Name Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index (AFEI) 

Future 

Contract Description A monthly cash settled future based upon the mathematical result of subtracting the 

average of the daily prices published by Argus International LPG for the location 

specified in Reference Price B from the average of the daily prices published by OPIS 

for the location specified in Reference Price A. 

For purposes of determining the Final Settlement Price, the OPIS price will be 

converted each day to US Dollars and cents per metric tonne, rounded to the nearest 

cent. The conversion factor will be 521 gallons per metric tonne. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price B 

prices 

Reference Price A NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS 

a) Description “NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in U.S. cents, published under the heading “Mont Belvieu Spot 

Gas Liquids Prices: Non-TET Propane: Any Current Month” in the issue of OPIS that 

reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Reference Price B NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG 

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of propane, 

stated in U.S. Dollars, published under the heading “Asia-Pacific: Refrigerated cargoes: 

Argus Far East IndexTM (AFEITM): Propane” in the issue of Argus International LPG 

that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date 
63 

Product Name Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index (AFEI) 

Future 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
64 

19.D.59 PROPANE, OPIS MT. BELVIEU TET VS PROPANE, ARGUS CIF ARA FUTURE 

Product Name Propane, OPIS MT. Belvieu Tet vs Propane, Argus CIF ARA Future 

Contract Description A monthly cash settled future based upon the mathematical result of subtracting the 

average of the daily prices published by Argus International LPG for the location 

specified in Reference Price B from the average of the daily prices published by OPIS 

for the location specified in Reference Price A. 

For purposes of determining the Final Settlement Price, the OPIS price will be 

converted each day to US dollars and cents per metric tonne, rounded to the nearest 

cent. The conversion factor will be 521 gallons per metric tonne. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price 

B prices 

Reference Price A NGL-MONT BELVIEU PROPANE (TET)-OPIS 

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot 

Gas Liquids Prices: TET Propane: Any Current Month” in the issue of OPIS that 

reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 
65 

Product Name Propane, OPIS MT. Belvieu Tet vs Propane, Argus CIF ARA Future 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
66 

19.D.60 PROPANE, OPIS MT. BELVIEU TET VS PROPANE, ARGUS CIF ARA FUTURE 

Product Name Propane, OPIS MT. Belvieu Tet vs Propane, Argus CIF ARA Future 

Contract Description A monthly cash settled future based upon the mathematical result of subtracting the 

average of the daily prices published by Argus International LPG for the location 

specified in Reference Price B from the average of the daily prices published by OPIS 

for the location specified in Reference Price A. 

For purposes of determining the Final Settlement Price, the OPIS price will be 

converted each day to US dollars and cents per metric tonne, rounded to the nearest 

cent. The conversion factor will be 521 gallons per metric tonne. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price 

B prices 

Reference Price A NGL-MONT BELVIEU PROPANE (TET)-OPIS 

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot 

Gas Liquids Prices: TET Propane: Any Current Month” in the issue of OPIS that 

reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 
67 

Product Name Propane, OPIS MT. Belvieu Tet vs Propane, Argus CIF ARA Future 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
68 

19.D.61 NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET VS WTI 1ST LINE FUTURE 

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET vs WTI 1st Line Future 

Contract Description A monthly cash settled future based upon the mathematical result of subtracting the 

average of the daily prices published by NYMEX for the location specified in Reference 

Price B below from the average of the daily prices published by OPIS for the location 

specified in Reference Price A below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per barrel; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price B 

prices 

Reference Price A NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS 

a) Description “NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of natural gasoline for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Non-TET N. Gasoline: Any Current Month” in the issue of 

OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Reference Price B OIL-WTI-NYMEX 

a) Description “OIL-WTI-NYMEX” means that the price for a Pricing Date will be that day’s 

Specified Price per barrel of the NYMEX Light Sweet Crude Oil Futures for the 

Delivery Date, stated in US Dollars, as made public by the NYMEX on that Pricing 

Date. 

b) Pricing Date Each trading day of the NYMEX Light Sweet Crude Oil Futures Contract during the 

Contract month 

c) Specified Price Settlement price 

d) Pricing calendar NYMEX 
69 

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET vs WTI 1st Line Future 

e) Delivery Date First Nearby Month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
70 

19.D.62 [RESERVED] 
71 

19.D.63 NGL BASKET, OPIS MT. BELVIEU NON-TET FUTURE 

Product Name NGL Basket, OPIS Mt. Belvieu Non-TET Future 

Contract Description A monthly cash settled future based upon the barrel components average of the daily 

prices published by OPIS for the locations specified in Final Settlement Price below. 

Settlement Method Cash settlement 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Trading Price 

Quotation 

One cent ($0.01) per barrel 

Settlement Price 

Quotation 

One tenth of one cent ($0.001) per barrel 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per barrel 

The conversion factor for this contract is 42 gallons = 1 barrel 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of 42% NGL-MONT BELVIEU Ethane (NON-TET)-OPIS; 28% NGLMONT BELVIEU Propane (NON-TET)-OPIS; 11% NGL-MONT BELVIEU 

Normal Butane (NON-TET)-OPIS; 6% NGL MONT BELVIEU Isobutane (NONTET)-OPIS; 13% MONT BELVIEU Natural Gasoline (NON-TET)-OPIS prices 

a) Description “42% NGL-MONT BELVIEU Ethane (NON-TET )-OPIS; 28% NGL-MONT 

BELVIEU Propane (NON-TET)-OPIS; 11% NGL-MONT BELVIEU Normal Butane 

(NON-TET)-OPIS; 6% NGL MONT BELVIEU Isobutane (NON-TET)-OPIS; 13% 

MONT BELVIEU Natural Gasoline (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of each listed component 

multiplied by the percentage of the barrel for delivery on the Delivery Date, stated in 

US cents, published under the heading “Mont Belvieu Spot Gas Liquids Prices: NonTET Ethane/Propane/Normal Butane/Isobutane/Natural Gasoline: Any Current 

Month” in the issue of OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
72 

19.D.64 PROPANE, ARGUS CIF ARA VS NAPHTHA CIF NWE CARGOES (PLATTS) FUTURE 

Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Future 

Contract Description A monthly cash settled future based upon the mathematical result of subtracting the 

average of the daily prices published by Platts European Marketscan for the location 

specified in Reference Price B from the average of the daily prices published by Argus 

International LPG for the location specified in Reference Price A. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price B 

prices 

Reference Price A NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Reference Price B NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS EUROPEAN 

MARKETSCAN 

a) Description “NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS EUROPEAN 

MARKETSCAN” means that the price for a Pricing Date will be that day’s Specified 

Price per metric tonne of naphtha, stated in US Dollars, published under the heading 

“Northwest Europe cargoes: CIF NWE/Basis ARA: Naphtha” in the issue of Platts 

European Marketscan that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 
73 

Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Future 

d) Pricing calendar Platts European Marketscan 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
74 

19.D.65 PROPANE, ARGUS CIF ARA VS NAPHTHA CIF NWE CARGOES (PLATTS) BALMO FUTURE 

Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo Future 

Contract Description A balance of the month cash settled future based upon the mathematical result of 

subtracting the average of the daily prices published by Platts European Marketscan for 

the location specified in Reference Price B from the average of the daily prices 

published by Argus International LPG for the location specified in Reference Price A. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 2 months of balance-of-month contract periods

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price B 

prices 

Reference Price A NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in U.S. 

Dollars, published under the heading “Europe: cif ARA (large cargoes): Propane” in 

the issue of Argus International LPG that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Reference Price B NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS EUROPEAN 

MARKETSCAN 

a) Description “NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS EUROPEAN 

MARKETSCAN” means that the price for a Pricing Date will be that day’s Specified 

Price per metric tonne of naphtha, stated in U.S. Dollars, published under the heading 

“Northwest European cargoes: CIF NWE/Basis ARA: Naphtha” in the issue of Platts 

European Marketscan that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 
75 

Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo Future 

d) Pricing calendar Platts European Marketscan 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
76 

19.D.66 PROPANE, ARGUS FAR EAST INDEX (AFEI) VS NAPHTHA C+F JAPAN CARGOES (PLATTS) 

FUTURE 

Product Name Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) 

Future 

Contract Description A monthly cash settled future based upon the mathematical result of subtracting the 

average of the daily prices published by Platts Asia-Pacific/Arab Gulf Marketscan for 

the location specified in Reference Price B from the average of the daily prices 

published by Argus International LPG for the location specified in Reference Price A. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price B 

prices 

Reference Price A NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG 

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of propane, 

stated in U.S. Dollars, published under the heading “Asia-Pacific: Refrigerated cargoes: 

Argus Far East IndexTM (AFEITM): Propane” in the issue of Argus International LPG 

that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Reference Price B NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-PLATTS ASIAPACIFIC/ARAB GULF MARKETSCAN 

a) Description “NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-PLATTS ASIAPACIFIC/ARAB GULF MARKETSCAN” means that the price for a Pricing Date will 

be that day’s Specified Price per metric tonne of naphtha, stated in U.S. Dollars, 

published under the heading “Japan physical oil assessments: C+F Japan ($/mt): 

Naphtha” in the issue of Platts Asia-Pacific/Arab Gulf Marketscan that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 
77 

Product Name Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) 

Future 

c) Specified Price Price 

d) Pricing calendar Platts Asia-Pacific/Arab Gulf Marketscan 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
78 

19.D.67 PROPANE, ARGUS CIF ARA VS NAPHTHA CIF NWE CARGOES (PLATTS) BALMO FUTURE 

Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo Future 

Contract Description A balance of the month cash settled future based upon the mathematical result of 

subtracting the average of the daily prices published by Platts European Marketscan for 

the location specified in Reference Price B from the average of the daily prices 

published by Argus International LPG for the location specified in Reference Price A. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 2 months of balance-of-month contract periods

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price B 

prices 

Reference Price A NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in U.S. 

Dollars, published under the heading “Europe: cif ARA (large cargoes): Propane” in 

the issue of Argus International LPG that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Reference Price B NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS EUROPEAN 

MARKETSCAN 

a) Description “NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS EUROPEAN 

MARKETSCAN” means that the price for a Pricing Date will be that day’s Specified 

Price per metric tonne of naphtha, stated in U.S. Dollars, published under the heading 

“Northwest European cargoes: CIF NWE/Basis ARA: Naphtha” in the issue of Platts 

European Marketscan that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 
79 

Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo Future 

d) Pricing calendar Platts European Marketscan 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
80 

19.D.68 PROPANE, ARGUS FAR EAST INDEX (AFEI) VS PROPANE, ARGUS CIF ARA FUTURE 

Product Name Propane, Argus Far East Index (AFEI) vs. Propane, Argus CIF ARA Future 

Contract Description A monthly cash settled future based upon the mathematical result of subtracting the 

average of the daily prices published by Argus International LPG for the location 

specified in Reference Price B from the average of the daily prices published by Argus 

International LPG for the location specified in Reference Price A. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price B 

prices 

Reference Price A NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG 

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of propane, 

stated in US Dollars, published under the heading “Asia-Pacific: Argus Far East Index 

TM (AFEI TM): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 
81 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
82 

19.D.69 PROPANE, ARGUS FAR EAST INDEX (AFEI) VS PROPANE, ARGUS CIF ARA BALMO 

FUTURE 

Product Name Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Balmo Future 

Contract Description A balance of the month cash settled future based upon the mathematical result of 

subtracting the average of the daily prices published by Argus International LPG for the 

location specified in Reference Price B from the average of the daily prices published 

by Argus International LPG for the location specified in Reference Price A. 

Settlement Method Cash settlement 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne. 

Contract Series Up to 2 months of balance-of-month contract months 

Last Trading Day Last trading day of the contract month 

Final Settlement Price The average of the Reference Price A prices minus the average of the Reference Price B 

prices 

Reference Price A NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG 

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of propane, 

stated in US Dollars, published under the heading “Asia-Pacific: Argus Far East Index 

TM (AFEI TM): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG” means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif ARA 

(large cargoes): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 
83 

Product Name Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Balmo Future 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
84 

19.D.70 ETHANE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION 

Product Name Ethane, OPIS Mt. Belvieu Non-TET Average Price Option 

Contract Description A monthly Average Price Option on the corresponding contract month of the Ethane, 

OPIS Mt. Belvieu Non-TET Future. 

Settlement Method Exercise into Underlying Futures Contract 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Option Style Average Price 

Exercise Method Automatic only 

Exercise Procedure Manual exercise or abandon is not permitted 

Exercise Day The second Clearing House Business Day following the Last Trading Day 

Automatic Exercise 

Provisions 

Options which are “in the money”, with respect to the average of the Reference Price 

prices, exercise automatically into the Underlying Futures Contract with a contract price 

equal to the Strike Price. 

Options which are “out of the money” expire automatically. 

Reference Price NGL-MONT BELVIEU PURITY ETHANE-OPIS 

a) Description “NGL-MONT BELVIEU PURITY ETHANE-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of ethane for delivery on the Delivery 

Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas Liquids 

Prices: Purity Ethane: Any Current Month” in the issue of OPIS that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10 per gallon above and below the 

at-the-money Strike Price. Strike Price boundaries are adjusted according to futures 

price movements. User-defined Strike Prices are allowed in $0.0001 increments. 
85 

Product Name Ethane, OPIS Mt. Belvieu Non-TET Average Price Option 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
86 

19.D.71 NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION 

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Average Price Option 

Contract Description A monthly Average Price Option on the corresponding contract month of the Natural 

Gasoline, OPIS Mt. Belvieu Non-TET Future. 

Settlement Method Exercise into Underlying Futures Contract 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Option Style Average Price 

Exercise Method Automatic only 

Exercise Procedure Manual exercise or abandon is not permitted 

Exercise Day The second Clearing House Business Day following the Last Trading Day 

Automatic Exercise 

Provisions 

Options which are “in the money”, with respect to the average of the Reference Price 

prices, exercise automatically into the Underlying Futures Contract with a contract price 

equal to the Strike Price. 

Options which are “out of the money” expire automatically. 

Reference Price NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS 

a) Description “NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of natural gasoline for 

delivery on the Delivery Date, stated in US cents, published under the heading “Mont 

Belvieu Spot Gas Liquids Prices: Non-TET N. Gasoline: Any Current Month” in the 

issue of OPIS that reports prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10 per gallon above and below the 

at-the-money Strike Price. Strike Price boundaries are adjusted according to futures 

price movements. User-defined Strike Prices are allowed in $0.0001 increments. 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
87 
88 

19.D.72 NORMAL BUTANE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION 

Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Option 

Contract Description A monthly Average Price Option on the corresponding contract month of the Normal 

Butane, OPIS Mt. Belvieu Non-TET Future. 

Settlement Method Exercise into Underlying Futures Contract 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Option Style Average Price 

Exercise Method Automatic only 

Exercise Procedure Manual exercise or abandon is not permitted 

Exercise Day The second Clearing House Business Day following the Last Trading Day 

Automatic Exercise 

Provisions 

Options which are “in the money”, with respect to the average of the Reference Price 

prices, exercise automatically into the Underlying Futures Contract with a contract price 

equal to the Strike Price. 

Options which are “out of the money” expire automatically. 

Reference Price NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS 

a) Description “NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of normal butane for delivery 

on the Delivery Date, stated in US cents, published under the heading “Mont Belvieu 

Spot Gas Liquids Prices: Non-TET N. Butane: Any Current Month” in the issue of 

OPIS that reports prices effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10 per gallon above and below the 

at-the-money Strike Price. Strike Price boundaries are adjusted according to futures 

price movements. User-defined Strike Prices are allowed in $0.0001 increments. 
89 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
90 

19.D.73 PROPANE, OPIS CONWAY IN-WELL AVERAGE PRICE OPTION 

Product Name Propane, OPIS Conway In-Well Average Price Option 

Contract Description A monthly Average Price Option on the corresponding contract month of the Propane, 

OPIS Conway In-Well Future. 

Settlement Method Exercise into Underlying Futures Contract 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Option Style Average Price 

Exercise Method Automatic only 

Exercise Procedure Manual exercise or abandon is not permitted 

Exercise Day The second Clearing House Business Day following the Last Trading Day 

Automatic Exercise 

Provisions 

Options which are “in the money”, with respect to the average of the Reference Price 

prices, exercise automatically into the Underlying Futures Contract with a contract price 

equal to the Strike Price. 

Options which are “out of the money” expire automatically. 

Reference Price NGL-CONWAY PROPANE (IN-WELL)-OPIS 

a) Description “NGL-CONWAY PROPANE (IN-WELL)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: Propane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10 per gallon above and below the 

at-the-money Strike Price. Strike Price boundaries are adjusted according to futures 

price movements. User-defined Strike Prices are allowed in $0.0001 increments. 
91 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
92 

19.D.74 PROPANE, OPIS MT. BELVIEU TET AVERAGE PRICE OPTION 

Product Name Propane, OPIS Mt. Belvieu TET Average Price Option 

Contract Description A monthly Average Price Option on the corresponding contract month of the Propane, 

OPIS Mt. Belvieu TET Future. 

Settlement Method Exercise into Underlying Futures Contract 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Option Style Average Price 

Exercise Method Automatic only 

Exercise Procedure Manual exercise or abandon is not permitted 

Exercise Day The second Clearing House Business Day following the Last Trading Day 

Automatic Exercise 

Provisions 

Options which are “in the money”, with respect to the average of the Reference Price 

prices, exercise automatically into the Underlying Futures Contract with a contract price 

equal to the Strike Price. 

Options which are “out of the money” expire automatically. 

Reference Price NGL-MONT BELVIEU PROPANE (TET)-OPIS 

a) Description “NGL-MONT BELVIEU PROPANE (TET)-OPIS” means that the price for a Pricing 

Date will be that day’s Specified Price per gallon of propane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Mont Belvieu Spot Gas 

Liquids Prices: TET Propane: Any Current Month” in the issue of OPIS that reports 

prices effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10 per gallon above and below the 

at-the-money Strike Price. Strike Price boundaries are adjusted according to futures 

price movements. User-defined Strike Prices are allowed in $0.0001 increments. 
93 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
94 

19.D.75 ETHANE IN E/P MIX, OPIS CONWAY IN-WELL AVERAGE PRICE OPTION 

Product Name Ethane in E/P Mix, OPIS Conway In-Well Average Price Option 

Contract Description A monthly Average Price Option on the corresponding contract month of the Ethane in 

E/P Mix, OPIS Conway In-Well Future 

Settlement Method Exercise into Underlying Futures Contract 

Contract Size 1,000 barrels 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per gallon; 

The conversion factor for this contract is 42 gallons = 1 barrel. 

Contract Series Up to 72 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month 

Option Style Average Price 

Exercise Method Automatic only 

Exercise Procedure Manual exercise or abandon is not permitted 

Exercise Day The second Clearing House Business Day following the Last Trading Day 

Automatic Exercise 

Provisions 

Options which are “in the money”, with respect to the average of the Reference Price 

prices, exercise automatically into the Underlying Futures Contract with a contract price 

equal to the Strike Price. 

Options which are “out of the money” expire automatically 

Reference Price NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS 

a) Description “NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS” means that the price for a 

Pricing Date will be that day’s Specified Price per gallon of ethane for delivery on the 

Delivery Date, stated in US cents, published under the heading “Conway In-Well Spot 

Gas Liquids Prices: Ethane (in E-P): Any Current Month “ in the issue of OPIS that 

reports prices effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Average 

d) Pricing calendar OPIS 

e) Delivery Date Contract month 

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.10 per gallon above and below the 

at-the-money Strike Price. Strike Price boundaries are adjusted according to futures 

price movements. User-defined Strike Prices are allowed in $0.0001 increments 
95 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
96 

19.D.76 PROPANE, ARGUS CIF ARA AVERAGE PRICE OPTION 

Product Name Propane, Argus CIF ARA Average Price Option 

Contract Description A monthly Average Price Option on the corresponding contract month of the 

Propane, Argus CIF ARA Future 

Settlement Method Exercise into Underlying Futures Contract 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Option Style Average Price 

Exercise Method Automatic only 

Exercise Procedure Manual exercise or abandon is not permitted 

Exercise Day The second Clearing House Business Day following the Last Trading Day 

Automatic Exercise 

Provisions 

Options which are “in the money”, with respect to the average of the Reference Price 

prices, exercise automatically into the Underlying Futures Contract with a contract 

price equal to the Strike Price. 

Options which are “out of the money” expire automatically. 

Reference Price NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS 

INTERNATIONAL LPG 

a) Description “NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG “ means that the price for a Pricing Date will be that day’s 

Specified Price per tonne of propane for delivery on the Delivery Date, stated in US 

Dollars, published under the heading “Northwest Europe and Mediterranean: cif 

ARA (large cargoes): Propane” in the issue of Argus International LPG that reports 

prices effective on that Pricing Date 

b) -Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Strike Pricing Listing 

Provisions 

A minimum of a ten Strike Prices in increments of $0.50 per metric tonne above and 

below the at-the-money Strike Price. Strike Price boundaries are adjusted according 

to futures price movements. User-defined Strike Prices are allowed in $0.01 
97 

increments. 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website

 
98 

19.D.77 PROPANE, ARGUS FAR EAST INDEX (AFEI) AVERAGE PRICE OPTION 

Product Name Propane, Argus Far East Index (AFEI) Average Price Option 

Contract Description A monthly Average Price Option on the corresponding contract month of the Propane, 

Argus Far East Index (AFEI) Future. 

Settlement Method Exercise into Underlying Futures Contract 

Contract Size 1,000 metric tonnes 

Currency US Dollars and cents 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per metric tonne 

Contract Series Up to 72 consecutive monthly contract periods 

Last Trading Day Last trading day of the contract month 

Option Style Average Price 

Exercise Method Automatic only 

Exercise Procedure Manual exercise or abandon is not permitted 

Exercise Day The second Clearing House Business Day following the Last Trading Day 

Automatic Exercise 

Provisions 

Options which are “in the money”, with respect to the average of the Reference Price 

prices, exercise automatically into the Underlying Futures Contract with a contract price 

equal to the Strike Price. Options which are “out of the money” expire automatically. 

Reference Price NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG 

a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG” means 

that the price for a Pricing Date will be that day’s Specified Price per tonne of propane, 

stated in US Dollars, published under the heading “Asia-Pacific: Argus Far East 

IndexTM (AFEITM): Propane” in the issue of Argus International LPG that reports prices 

effective on that Pricing Date. 

b) Pricing Date Each day that prices are reported for the Delivery Date 

c) Specified Price Price 

d) Pricing calendar Argus International LPG 

e) Delivery Date Contract month 

Strike Pricing Listing 

Provisions 

A minimum of ten Strike Prices in increments of $0.50 per metric tonne above and 

below the at-the-money Strike Price. Strike Price boundaries are adjusted according to 

futures price movements. User-defined Strike Prices are allowed in $0.01 increments. 

Position Limits Specified in Table 2 to Chapter 19—see IFUS website
Subchapter 19F Options 

19.F.01 Crude Diff – WTI 1-Month Calendar Spread Option

19.F.02 Crude Diff – WTI vs Brent Spread Option

19.F.03 Crude Outright – WTI Average Price Option

19.F.04 Crude Outright – Argus LLS Average Price Option

19.F.05 Crude Diff – Argus LLS vs WTI 1st Line Average Price Option

19.F.06 Crude Diff - Argus LLS vs WTI Trade Month Average Price Option

19.F.07 Crude Diff - Argus WTI Midland vs WTI 1st Line Average Price Option

19.F.08 Crude Diff - Argus Mars vs WTI 1st Line Average Price Option

19.F.09 Crude Diff - Argus Mars vs WTI Trade Month Average Price Option

19.F.10 Crude Diff - Argus WTI Houston vs WTI 1st Line Average Price Option

19.F.11 Crude Diff - Argus WTS vs WTI 1st Line Average Price Option

19.F.12 Crude Diff - TMX WCS 1a INdex Average Price Option

19.F.13 Crude Diff – WTI 12-Month Calendar Spread Option

19.F.14 Daily EU-Style WTI Option

19.F.15 Crude Outright – WTI Average Price Balmo Option

19.F.16 Crude Outright – EU-Style WTI Option

19.F.17 RESERVED

19.F.18 Gasoline Outright – RBOB Gasoline Average Price Option

19.F.19 Heating Oil Outright – Heating Oil Average Price Option

19.F.20 Heating Oil Diff – EU-Style Heating Oil vs Low Sulphur Gasoil Option

19.F.21 Fuel Oil Outright - USGC HSFO (Platts) Average Price Option

19.F.22 Jet Fuel Outright – Gulf Coast Jet Fuel (Platts) Average Price Option

19.F.23 Crude Diff – Daily WTI 1-Month Calendar Spread Option

19.F.24 Diesel Diff – New York Harbor ULSD 1-Month Calendar Spread Option

19.F.25 Gasoline Diff - RBOB Gasoline 1-Month Calendar Spread Option

\ 
19.F.01 CRUDE DIFF – WTI 1-MONTH CALENDAR SPREAD OPTION 

Product Name Crude Diff – WTI 1-Month Calendar Spread Option 

Contract Description A WTI Crude Oil 1-Month Calendar Spread Option, which will 

automatically exercise into the WTI 1-month Calendar Spread 

Future on the day of expiry of the options contract. 

Contract Size per lot 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels. 

For Call Options the first underlying ICE WTI Crude Futures 

contract month settlement less the second ICE WTI Crude Futures 

contract month settlement less the strike price, or zero, whichever is 

greater. 

For Put Options, the strike price less the first ICE WTI Crude 

Futures contract month Settlement Price less the second ICE WTI 

Crude Futures contract month settlement, or zero, whichever is 

greater. 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Close of business on the last trading day of the underlying ICE 

Futures Europe WTI Crude Futures Contract 

Option Type Options are European style and will be automatically exercised on 

the expiry day if they are “in the money”. If an Option is “out of 

the money” it will expire automatically. It is not permitted to 

exercise the Option on any other day or in any other circumstances. 

No manual exercise is permitted. 

Expiry 14:30 EPT (19:30 London Time)

Automatic exercise settings are pre-set to exercise contracts which 

are one minimum price fluctuation or more ‘in the money’ with 

reference to the relevant reference price. Clearing Members cannot 

override automatic exercise settings or manually enter exercise 

instructions for this contract. 

The reference price will be a price in USD and cents per barrel 

equal to the difference of the nearby ICE Futures Europe WTI 

Crude Futures contract and the next consecutive contract month of 

the ICE Futures Europe WTI Crude Futures contract series. 

Strike Price Intervals Standard $0.05 strikes from 20 strikes above and below the at-themoney strike. Additional strikes added as appropriate. The “at-themoney” strike price is the closest interval nearest to the previous 

Business Day’s Settlement Price of the corresponding underlying 1-

month calendar spread contract. 
Contract Series Up to 48 consecutive 1-month calendar spreads

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
19.F.02 CRUDE DIFF – WTI VS BRENT SPREAD OPTION 

Product Name Crude Diff – WTI vs Brent Spread Option

Contract Description The WTI vs Brent Spread Option is based on the difference 

between the ICE Futures Europe daily settlement price for WTI 

Futures and the ICE Futures Europe daily settlement price for 

Brent Futures, and will automatically exercise into the ICE 

WTI vs Brent Bullet Futures Contract on the day of expiry of 

the options contract. 

Contract Size 1,000 barrels

Unit of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price Quotation One cent ($0.01) per barrel

Settlement Price Quotation One tenth of one cent ($0.001) per barrel

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel

Last Trading Day Trading shall end one Business Day prior to the expiration day of 

the ICE Futures Europe Brent Crude Futures Contract. 

Option Type Options are European-style and will be automatically exercised 

on the expiry day if they are “in-the-money”. The Futures 

Contract resulting from exercise immediately goes to cash 

settlement. If an Option is “out-of-the-money” it will expire 

automatically. It is not permitted to exercise the Option on any 

other day or in any other circumstances than the Last Trading 

Day. No manual exercise is permitted. 

Expiry 14:30 EPT (19:30 London Time)

Automatic exercise settings are pre-set to exercise contracts 

which are one minimum price fluctuation or more 'in the 

money' with reference to the relevant reference price. Clearing 

Members cannot override automatic exercise settings or manually 

enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel 

based on the difference of the applicable ICE WTI Crude Futures 

contract and the ICE Brent Crude Futures contract series. , 

Strike Price Intervals This contract will support custom Option strikes with 

strikes in increments of $0.01 within a range of -$100 to +$100. 

This range may be revised from time to time according to 

futures price movements. The “at-the-money” strike price 

is the closest interval nearest to the previous business day's 

Settlement Price of the underlying contract. 

Contract Series Up to 36 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading 

Day 
business days Publication days for ICE

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.03 CRUDE OUTRIGHT – WTI AVERAGE PRICE OPTION 

Product Name Crude Outright – WTI Average Price Option

Contract Description The WTI Average Price Option is based on the underlying ICE 

WTI 1st Line Future and will automatically exercise into the 

Settlement Price of the WTI 1st Line Future on the day of 

expiry of the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last Trading Day of the contract month 

Option Type Options are Asian-style and will be automatically exercised on 

the expiry day if they are in-the-money. The Futures 

Contract resulting from exercise immediately goes to cash 

settlement. If an Option is out-of-the-money it will expire 

automatically. It is not permitted to exercise the Option on any 

other day or in any other circumstances than the Last Trading 

Day. No manual exercise is permitted. 

Expiry 14:30 EPT (19:30 London Time).

Automatic exercise settings are pre-set to exercise contracts 

which are one minimum price fluctuation or more 'in the 

money' with reference to the relevant reference price. Clearing 

Members cannot override automatic exercise settings or 

manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel 

equal to the average of the Settlement Prices as made public 

by ICE for the WTI 1st Line Future for the contract month. 

Strike Prices Minimum $0.50 increment strike prices. $1.00 Strikes from 

$20 to $240. $0.50 strikes 20 strikes above and below ATM. 

The “at-the-money” strike price is the closes interval nearest to 

the previous Business Day’s Settlement Price of the underlying 

contract. 

Contract Series Up to 72 consecutive months

Final Payment Dates Two Clearing House Business Days following the Last Trading 

Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.04 CRUDE OUTRIGHT – ARGUS LLS AVERAGE PRICE OPTION 

Product Name Crude Outright – Argus LLS Average Price Option 

Contract Description The Argus LLS Average Price Option is based on the underlying ICE Argus 

LLS Future and will automatically exercise into the Argus LLS Future on 

the day of expiry of the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last Trading Day of the contract month 

Option Type Options are average priced and will be automatically exercised into the 

Argus LLS Future on the expiry day if they are “in the money”. The Futures 

Contract resulting from exercise immediately goes to cash settlement. If an 

Option is “out of the money” it will expire automatically. It is not permitted 

to exercise the Option on any other day or in any other circumstances than 

the Last Trading Day. No manual exercise is permitted 

Expiry 14:30 EPT (19:30 London Time) 

Automatic exercise settings are pre-set to exercise contracts which are one 

minimum price fluctuation or more “in the money” with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel equal to the 

average of the Settlement Prices of the Argus LLS Future for the contract 

month. 

Strike Price Intervals This contract will support custom Option strikes with strikes in increments 

of $0.01 within a range of $20 to $240. This range may be revised from time 

to time according to future price movements. The at-the-money strike price 

is the closest interval nearest to the previous Business Day's Settlement 

Price of the Underlying Futures Contract 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.05 CRUDE DIFF – ARGUS LLS VS WTI 1ST LINE AVERAGE PRICE OPTION 

Product Name Crude Diff – Argus LLS vs WTI 1st Line Average Price Option 

Contract Description The Argus LLS vs WTI 1st Line Average Price Option is based on the 

underlying Argus LLS vs WTI 1st Line Future (ARK) and will 

automatically exercise into the Argus LLS vs WTI 1st Line Future (ARK) 

on the day of expiry of the options contract 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last Trading Day of the contract month 

Option Type Options are average priced and will be automatically exercised into the 

Argus LLS vs WTI 1st Line Future on the expiry day if they are "in the 

money". The Future Contract resulting from exercise immediately goes to 

cash settlement. If an Option is "out of the money" it will expire 

automatically. It is not permitted to exercise the Option on any other day 

or in any other circumstances than the Last Trading Day. No manual 

exercise is permitted 

Expiry 14:30 EPT (19:30 London Time) 

Automatic exercise settings are pre-set to exercise contracts which are one 

minimum price fluctuation or more “in the money” with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel equal to the 

average of the Settlement Prices of the Argus LLS vs WTI 1st Line Future 

for the contract month. 

Strike Price Intervals This contract will support custom Option strikes with strikes in increments 

of $0.01 within a range of -$10 to $25. This range may be revised from 

time to time according to future price movements. The at-the-money strike 

price is the closest interval nearest to the previous business day's 

Settlement Price of the underlying contract 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
19.F.06 CRUDE DIFF - ARGUS LLS VS WTI TRADE MONTH AVERAGE PRICE OPTION 

Product Name Crude Diff - Argus LLS vs WTI Trade Month Average Price Option 

Contract Description The Argus LLS vs WTI Trade Month Average Price Option is based on 

the underlying Argus LLS vs WTI Trade Month Future and will 

automatically exercise into the Argus LLS vs WTI Trade Month Future on 

the day of expiry of the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business bay that 

falls on or before the 25th calendar day of the month prior to the contract 

month. If the 25th calendar day is a weekend or holiday, trading shall 

cease on the first business day prior to the 25th calendar day. 

Option Type Options are average priced and will be automatically exercised into the 

Argus LLS vs WTI Trade Month Future on the expiry day if they are "in 

the money". The Futures Contract resulting from exercise immediately 

goes to cash settlement. If an Option is "out of the money" it will expire 

automatically. It is not permitted to exercise the Option on any other day 

or in any other circumstances than the Last Trading Day. No manual 

exercise is permitted. 

Expiry 14:30 EPT (19:30 London Time) 

Automatic exercise settings are pre-set to exercise contracts which are 

one minimum price fluctuation or more “in the money” with reference to 

the relevant reference price. Clearing Members cannot override 

automatic exercise settings or manually enter exercise instructions for 

this contract. 

The reference price will be a price in USD and cents per barrel equal to 

the average of the Settlement Prices of the Argus LLS vs WTI Trade 

Month Future for the contract month. 

Strike Price Intervals This contract will support Custom Option Strikes with a minimum of 10 

Strike Prices in increments of $0.01 per bbl above and below the at-themoney Strike Price. Strike Price boundaries are adjusted according to 

futures price movements. User-defined Strike Prices are allowed in $0.01 

increments. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
19.F.07 CRUDE DIFF - ARGUS WTI MIDLAND VS WTI 1ST LINE AVERAGE PRICE OPTION 

Product Name Crude Diff - Argus WTI Midland vs WTI 1st Line Average Price Option 

Contract Description The Argus WTI Midland vs WTI 1st Line Average Price Option is based on 

the underlying Argus WTI Midland vs WTI 1st Line Future and will 

automatically exercise into the Argus WTI Midland vs WTI 1st Line Future 

on the day of expiry of the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Option Type Options are average priced and will be automatically exercised into the Argus 

WTI Midland vs WTI 1st Line Future on the expiry day if they are “in the 

money". The Futures Contract resulting from exercise immediately goes to 

cash settlement. If an Option is "out of the money" it will expire 

automatically. It is not permitted to exercise the Option on any other day or in 

any other circumstances than the Last Trading Day. No manual exercise is 

permitted. 

Expiry 14:30 EPT (19:30 London Time) 

Automatic exercise settings are pre-set to exercise contracts which are one 

minimum price fluctuation or more “in the money” with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel equal to the 

average of the Settlement Prices of the Argus WTI Midland vs WTI 1st Line 

Future for the contract month. 

Strike Prices This contract will support custom Option strikes with strikes in increments of 

$0.01 within a range of -$10 to $25. This range may be revised from time to 

time according to future price movements. The at-the-money strike price is 

the closest interval nearest to the previous business day's Settlement Price of 

the underlying contract. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.08 CRUDE DIFF - ARGUS MARS VS WTI 1ST LINE AVERAGE PRICE OPTION 

Product Name Crude Diff - Argus Mars vs WTI 1st Line Average Price Option 

Contract Description The Argus Mars vs WTI 1st Line Average Price Option is based on the 

underlying Argus Mars vs WTI 1st Line Future and will automatically 

exercise into the Argus Mars vs WTI 1st Line Future on the day of expiry of 

the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last Trading Day of the contract month 

Option Type Options are average priced and will be automatically exercised into the Argus 

Mars vs WTI 1st Line Future on the expiry day if they are “in the money". 

The Futures Contract resulting from exercise immediately goes to cash 

settlement. If an Option is "out of the money" it will expire automatically. It 

is not permitted to exercise the Option on any other day or in any other 

circumstances than the Last Trading Day. No manual exercise is permitted. 

Expiry 14:30 EPT (19:30 London Time) 

Automatic exercise settings are pre-set to exercise contracts which are one 

minimum price fluctuation or more “in the money” with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel equal to the 

average of the Settlement Prices of the Argus Mars vs WTI 1st Line Future 

for the contract month. 

Strike Prices This contract will support Custom Option Strikes with strikes in increments 

of $0.01 within a range of -$10 to $25. This range may be revised from time 

to time according to future price movements. The at-the-money strike price is 

the closest interval nearest to the previous business day's Settlement Price of 

the underlying contract. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.09 CRUDE DIFF - ARGUS MARS VS WTI TRADE MONTH AVERAGE PRICE OPTION 

Product Name Crude Diff - Argus Mars vs WTI Trade Month Average Price Option 

Contract Description The Argus Mars vs WTI Trade Month Average Price Option is based on the 

underlying Argus Mars vs WTI Trade Month Future and will automatically 

exercise into the Argus Mars vs WTI Trade Month Future on the day of 

expiry of the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the close of trading on the last business day that falls 

on or before the 25th calendar day of the month prior to the contract month. 

If the 25th calendar day is a weekend or holiday, trading shall cease on the 

first Business Day prior to the 25th calendar day. 

Option Type Options are average priced and will be automatically exercised into the 

Argus Mars vs WTI Trade Month Future on the expiry day if they are “in 

the money". The Futures Contract resulting from exercise immediately goes 

to cash settlement. If an Option is "out of the money" it will expire 

automatically. It is not permitted to exercise the Option on any other day or 

in any other circumstances than the Last Trading Day. No manual exercise 

is permitted. 

Expiry 14:30 EPT (19:30 London Time) 

Automatic exercise settings are pre-set to exercise Options which are one 

minimum price fluctuation or more “in the money” with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel equal to the 

average of the Settlement Prices of the Argus Mars vs WTI Trade Month 

Future for the contract month. 

Strike Prices This contract supports custom Option strikes with strikes in increments of 

$0.01 within a range of -$10 to $25. This range may be revised from time to 

time according to future price movements. The at-the-money strike price is 

the closest interval nearest to the previous Business Day's Settlement Price 

of the Underlying Futures Contract. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
19.F.10 CRUDE DIFF - ARGUS WTI HOUSTON VS WTI 1ST LINE AVERAGE PRICE OPTION 

Product Name Crude Diff - Argus WTI Houston vs WTI 1st Line Average Price Option 

Contract Description The Argus WTI Houston vs WTI 1st Line Average Price Option is based on 

the underlying Argus WTI Houston vs WTI 1st Line Future and will 

automatically exercise into the Argus WTI Houston vs WTI 1st Line Future 

on the day of expiry of the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last trading day of the contract month 

Option Type Options are average priced and will be automatically exercised into the Argus 

WTI Houston vs WTI 1st Line Future on the expiry day if they are “in the 

money". The Futures Contract resulting from exercise immediately goes to 

cash settlement. If an Option is "out of the money" it will expire 

automatically. It is not permitted to exercise the Option on any other day or in 

any other circumstances than the Last Trading Day. No manual exercise is 

permitted. 

Expiry 14:30 EPT (19:30 London Time) 

Automatic exercise settings are pre-set to exercise contracts which are one 

minimum price fluctuation or more “in the money” with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel equal to the 

average of the Settlement Prices of the Argus WTI Houston vs WTI 1st Line 

Future for the contract month. 

Strike Prices This contract will support custom Option strikes with strikes in increments of 

$0.01 within a range of -$10 to $25. This range may be revised from time to 

time according to future price movements. The at-the-money strike price is 

the closest interval nearest to the previous business day's Settlement Price of 

the underlying contract. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.11 CRUDE DIFF - ARGUS WTS VS WTI 1ST LINE AVERAGE PRICE OPTION 

Contract Description The Argus WTS vs WTI 1st Line Average Price Option is based on the 

underlying Argus WTS vs WTI 1st Line Future and will automatically 

exercise into the Argus WTS vs WTI 1st Line Future on the day of expiry of 

the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last Trading Day of the contract month 

Option Type Options are average priced and will be automatically exercised into the Argus 

WTS vs WTI 1st Line Future on the expiry day if they are "in the money". 

The Futures Contract resulting from exercise immediately goes to cash 

settlement. If an Option is "out of the money" it will expire automatically. It 

is not permitted to exercise the Option on any other day or in any other 

circumstances than the Last Trading Day. No manual exercise is permitted. 

Expiry 14:30 EPT (19:30 London Time) 

Automatic exercise settings are pre-set to exercise contracts which are one 

minimum price fluctuation or more “in the money” with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel equal to the 

average of the Settlement Prices of the Argus WTS vs WTI 1st Line Future 

for the contract month. 

Strike Prices This contract will support Custom Option Strikes with strikes in increments 

of $0.01 within a range of -$10 to $25. This range may be revised from time 

to time according to future price movements. The at-the-money strike price is 

the closest interval nearest to the previous business day's Settlement Price of 

the underlying contract. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Argus Crude 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
19.F.12 CRUDE DIFF - TMX WCS 1A INDEX AVERAGE PRICE OPTION 

Contract Description The TMX WCS 1a Index Average Price Option is based on the underlying 

TMX WCS 1a Index Future and will automatically exercise into the TMX 

WCS 1a Future on the day of expiry of the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One hundredth of one cent ($0.0001) per barrel 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per barrel 

Last Trading Day Trading shall cease one Canadian business day prior to the Notice of 

Shipments (NOS) date on the Enbridge Pipeline. The NOS date occurs on or 

about the 20th calendar day of the month, subject to confirmation by Enbridge 

Pipeline. The official schedule for the NOS dates will be made publicly 

available by Enbridge Pipeline prior to the start of each year. 

Option Type Options are average priced and will be automatically exercised into the TMX 

WCS 1a Future on the expiry day if they are "in the money". The Futures 

Contract resulting from exercise immediately goes to cash settlement. If an 

Option is "out of the money" it will expire automatically. It is not permitted 

to exercise the Option on any other day or in any other circumstances than 

the Last Trading Day. No manual exercise is permitted. 

Expiry 14:30 EPT (19:30 London Time). 

Automatic exercise settings are pre-set to exercise contracts which are one 

minimum price fluctuation or more “in the money” with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel based on the 

TMX WCS 1a Index, as published by NGX for the contract month 

Strike Prices A minimum of 20 Strike Prices in increments of $0.01 per bbl above and 

below the at-the-money Strike Price. Strike Price boundaries are adjusted 

according to futures price movements. User-defined Strike Prices are allowed 

in $0.01 increments. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NGX Crude Oil Markets 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.13 CRUDE DIFF – WTI 12-MONTH CALENDAR SPREAD OPTION 

Product Name Crude Diff – WTI 12-Month Calendar Spread Option

Description The WTI Crude Oil 12-Month Calendar Spread Option is based on 

the difference between two ICE Futures Europe WTI Crude Futures 

Contract months expiring twelve calendar months apart, and will 

automatically exercise into the ICE WTI 12-Month Calendar Spread 

Future on the day of expiry of the options contract. 

Contract Size per lot 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels. 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall cease at the end of the designated settlement period on 

the Last Trading Day of the nearby month ICE Futures Europe WTI 

Crude Futures Contract. 

Option Type Options are European style and will be automatically exercised on 

the expiry day if they are “in the money”. The Futures Contract 

resulting from exercise immediately goes to cash settlement. If an 

option is “out of the money” it will expire automatically. It is not 

permitted to exercise the option on any other day or in any other 

circumstances. No manual exercise is permitted. 

Expiry 14:30 EPT (19:30 London Time). 

Automatic exercise settings are pre-set to exercise contracts which 

are one minimum price fluctuation or more ‘in the money’ with 

reference to the relevant reference price. Clearing Members cannot 

override automatic exercise settings or manually enter exercise 

instructions for this contract. 

The reference price will be a price in USD and cents per barrel 

equal to the difference between the settlement price of the nearby 

ICE Futures Europe WTI Crude Futures Contract and the settlement 

price of the contract month expiring 12 calendar months later in the 

ICE Futures Europe WTI Crude Futures Contract series on the Last 

Trading Day. 

Strike Price Intervals A minimum of 10 Strike Prices in increments of $0.05 per bbl 

above and below the at-the-money Strike Price. Strike Price 

boundaries are adjusted according to futures price movements. 

User-defined Strike Prices are allowed in $0.01 increments. 
Contract Series Up to two 12-month calendar spreads 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for NYMEX 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
19.F.14 DAILY EU-STYLE WTI OPTION 

Product Name Daily EU-Style WTI Option

Description The Daily EU-Style WTI Option contract is based on the underlying 

ICE WTI Crude Futures Contract and will automatically exercise into 

the Daily EU-Style WTI Future on the day of expiry of the options 

contract. The Daily Options are short-life, EU-style options that will 

immediately settle into the cash value of the Underlying Futures 

Contract’s daily Settlement Price. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One cent ($0.01) per barrel 

Minimum Price Fluctuation One cent ($0.01) per barrel 

Last Trading Day Trading shall cease at the end of the designated settlement period of 

the ICE WTI Crude Futures Contract on the business day that it was 

listed on. 

Option Type Options are European-style and will be automatically exercised on the 

expiry day if they are “in-the-money”. The Futures Contract resulting 

from exercise immediately goes to cash settlement. If an option is “outof-the-money” it will expire automatically. 

Expiry Automatic exercise settings are pre-set to exercise contracts which are 

one minimum price fluctuation or more in-the-money with reference to 

the corresponding daily Settlement Price at the designated settlement 

time as determined by the Exchange. Clearing Members cannot 

override automatic exercise settings or manually enter exercise 

instructions for this contract. 

Strike Prices A minimum of 10 Strike Prices in increments of $0.50 per bbl above 

and below the at-the-money Strike Price. Strike Price boundaries are 

adjusted according to futures price movements. User-defined Strike 

Prices are allowed in $0.01 increments. 

Contract Series Daily contract listed for 1 day 

Final Payment Dates One Clearing House Business Day following the Last Trading Day 

business days Publication days for NYMEX 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.15 CRUDE OUTRIGHT – WTI AVERAGE PRICE BALMO OPTION 

Product Name Crude Outright – WTI Average Price Balmo Option

Description The WTI Average Price Balmo Option is based on the underlying 

WTI 1st Line Balmo Future and will automatically exercise into the 

1st Line Balmo Future on the day of expiry of the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last Trading Day of the contract month 

Option Type Options are Asian-style and will be automatically exercised on the 

expiry day if they are in-the-money. The Futures Contract 

resulting from exercise immediately goes to cash settlement . If an 

option is out-of-the-money it will expire automatically. It is not 

permitted to exercise the option on any other day or in any other 

circumstances than the Last Trading Day. No manual exercise is 

permitted. 

Expiry 14:30 EPT (19:30 London Time). 

Automatic exercise settings are pre-set to exercise contracts which 

are one minimum price fluctuation or more 'in the money' with 

reference to the relevant reference price. Clearing Members cannot 

override automatic exercise settings or manually enter exercise 

instructions for this contract. 

The reference price will be a price in USD and cents per barrel equal 

to the average of the Settlement Prices as made public by ICE for the 

WTI 1st Line Future for the contract month. 

Strike Prices A minimum of 20 Strike Prices in increments of $0.50 per bbl above 

and below the at-the-money Strike Price. Strike Price boundaries are 

adjusted according to futures price movements. User-defined Strike 

Prices are allowed in $0.50 increments. 

Contract Series Up to 2 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 
Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.16 CRUDE OUTRIGHT – EU-STYLE WTI OPTION 

Product Name Crude Outright – EU-Style WTI Option

Description The EU-Style WTI Option is based on the underlying EU-Style 

WTI Futures Contract and will automatically exercise into 

the EU-Style WTI Futures Contract on the day of expiry of 

the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price 

Fluctuation 

One tenth of one cent ($0.001) per barrel 

Last Trading Day Trading shall end two NYMEX Business Days prior to the 

expiration date of the ICE Futures Europe WTI Crude Futures 

Contract. (A NYMEX Business Day is a day on which NYMEX 

is open for business.) 

Option Type Options are European-style and will be automatically exercised 

on the expiry day if they are “in-the-money”. The Futures 

Contract resulting from exercise immediately goes to cash 

settlement . If an option is “out-of-the-money” it will expire 

automatically. It is not permitted to exercise the option on any 

other day or in any other circumstances than the Last Trading 

Day. No manual exercise is permitted. 

Expiry 14:30 EPT (19:30 London time) 

Automatic exercise settings are pre-set to exercise contracts 

which are one minimum price fluctuation or more in-themoney with reference to the relevant reference price. Clearing 

Members cannot override automatic exercise settings or manually 

enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel 

equal to the Settlement Price of the ICE EU-Style WTI Future, 

which is based on the Settlement Price of the ICE WTI Bullet 

Future for the contract month on the 3rd business day prior to 

the last trading day of the ICE Futures Europe WTI Futures 

Contract for the contract month. 

Strike Prices Minimum $0.50 increment strike prices. $1.00 Strikes from $20 to 

$240. $0.50 strikes 20 strikes above and below ATM. The 

at-the-money strike price is the closes interval nearest to the 

previous business day’s settlement price of the underlying 
contract. 

Contract Series Up to 36 consecutive months

Final Payment Dates Two Clearing House Business Days following the Last Trading 

Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website

 
19.F. 17 RESERVED 

 
19.F.18 GASOLINE OUTRIGHT – RBOB GASOLINE AVERAGE PRICE OPTION 

Product Name Gasoline Outright – RBOB Gasoline Average Price Option

Description The RBOB Gasoline Average Price Option is based on the 

underlying RBOB Gasoline 1st Line Futures Contract and will 

automatically exercise into the RBOB Gasoline 1st Line Futures 

Contract on the day of expiry of the options contract. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last Trading Day of the contract month 

Option Type Options are Asian-style and will be automatically exercised on the 

expiry day if they are "in the money". The Futures Contract 

resulting from exercise immediately goes to cash settlement. If an 

option is "out of the money" it will expire automatically. It is not 

permitted to exercise the option on any other day or in any other 

circumstances than the Last Trading Day. No manual exercise is 

permitted. 

Expiry 14:30 EPT (19:30 London Time). 

Automatic exercise settings are pre-set to exercise contracts which 

are one minimum price fluctuation or more "in the money" with 

reference to the relevant reference price. Members cannot override 

automatic exercise settings or manually enter exercise instructions 

for this contract. 

The reference price will be a price in USD and cents per gallon 

based on the average of the Settlement Prices as made public by 

ICE for the RBOB Gasoline 1st Line Futures Contract for the 

contract month. 

Strike Price Intervals A minimum of 10 strikes above and below at the money in $0.01 

increments will be listed at launch. This contract will support 

Custom Option Strikes with strikes in increments of $0.001 within a 

range of $0.500 to $10.000. This range may be revised from time 

to time according to future price movements. The at-the-money 

strike price is the closest interval nearest to the previous business 

day's settlement price of the underlying contract. 

Contract Series Up to 48 consecutive months 
Final Payment Dates Two Clearing House Business Days following the Last Trading 

Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
19.F.19 HEATING OIL OUTRIGHT – HEATING OIL AVERAGE PRICE OPTION 

Product Name Heating Oil Outright – Heating Oil Average Price Option

Description The Heating Oil Average Price Option is based on the underlying 

Heating Oil 1st Line Futures Contract and will automatically 

exercise into the Heating Oil 1st Line Futures Contract on the day 

of expiry of the options contract. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last Trading Day of the contract month 

Option Type Options are Asian-style and will be automatically exercised on the 

expiry day if they are "in the money". The Futures Contract 

resulting from exercise immediately goes to cash settlement. If an 

option is "out of the money" it will expire automatically. It is not 

permitted to exercise the option on any other day or in any other 

circumstances than the Last Trading Day. No manual exercise is 

permitted. 

Expiry 14:30 EPT (19:30 London Time). 

Automatic exercise settings are pre-set to exercise contracts which 

are one minimum price fluctuation or more "in the money" with 

reference to the relevant reference price. Clearing Members cannot 

override automatic exercise settings or manually enter exercise 

instructions for this contract. 

The reference price will be a price in USD and cents per gallon 

based on the average of the Settlement Prices as made public by 

ICE for the Heating Oil 1st Line Futures Contract for the contract 

month. 

Strike Price Intervals A minimum of 10 strikes above and below at the money in $0.01 

increments will be listed at launch. This contract will support 

Custom Option Strikes with strikes in increments of $0.001 within a 

range of $0.500 to $10.000. These ranges may be revised from 

time to time according to future price movements. The at-themoney strike price is the closest interval nearest to the previous 

business day's settlement price of the underlying contract. 

Contract Series Up to 48 consecutive months 
Final Payment Dates Two Clearing House Business Days following the Last Trading 

Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
19.F.20 HEATING OIL DIFF – EU-STYLE HEATING OIL VS LOW SULPHUR GASOIL OPTION 

Product Name Heating Oil Diff – EU-Style Heating Oil vs Low Sulphur Gasoil 

Option

Description The EU-Style Heating Oil vs Low Sulphur Gasoil Option is based on 

the difference between the ICE daily Settlement Price for the Heating 

Oil Futures Contract and the ICE daily settlement price for the ICE 

Low Sulphur Gasoil Bullet Futures Contract, and will automatically 

exercise into the EU-Style Heating Oil vs Low Sulphur Gasoil 

Futures Contract on the day of expiry of the options contract. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Trading shall end one business day prior to the expiration date of the 

ICE Heating Oil Futures contract 

Option Type Options are European-style and will be automatically exercised on 

the expiry day if they are “in-the-money”. The Futures Contract 

resulting from exercise immediately goes to cash settlement. If an 

option is “out-of-the-money” it will expire automatically. It is not 

permitted to exercise the option on any other day or in any other 

circumstances than the Last Trading Day. No manual exercise is 

permitted.

Expiry 14:30 EPT (19:30 London Time) 

Automatic exercise settings are pre-set to exercise contracts which 

are one minimum price fluctuation or more 'in the money' with 

reference to the relevant reference price. Clearing Members cannot 

override automatic exercise settings or manually enter exercise 

instructions for this contract. 

The reference price will be a price in USD and cents per gallon equal 

to the difference between the settlement prices as made public by 

ICE for the ICE Futures Europe Heating Oil Futures Contract and the 

ICE Futures Europe Low Sulphur Gasoil Bullet Futures Contract on 

the Last Trading Day. 

conversion factor: 1 metric tonne = 312.9 gallons 

Strike Price Intervals A minimum of 10 strikes above and below at the money in $0.01 

increments will be listed at launch. This contract will support Custom 

Option Strikes with strikes in increments of $0.001 within a range of 

-$1.00 to $1.00. These ranges may be revised from time to time 

according to future price movements. The at-the-money strike price 
is the closest interval nearest to the previous business day's 

settlement price of the underlying contract. 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
19.F.21 FUEL OIL OUTRIGHT - USGC HSFO (PLATTS) AVERAGE PRICE OPTION 

Product Name Fuel Oil Outright - USGC HSFO (Platts) Average Price Option

Description The USGC HSFO (Platts) Average Price Option is based on the 

underlying USGC HSFO (Platts) Futures Contract and will automatically 

exercise into the USGC HSFO (Platts) Futures Contract on the day of 

expiry of the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day Last Trading Day of the contract month 

Option Type Options are average priced and will be automatically exercised into the 

USGC HSFO (Platts) Future on the expiry day if they are “in the 

money”. The Futures Contract resulting from exercise immediately goes 

to cash settlement . If an option is “out of the money” it will expire 

automatically. It is not permitted to exercise the option on any other day 

or in any other circumstances than the Last Trading Day. No manual 

exercise is permitted 

Expiry 14:30 EPT (19:30 London Time). 

Automatic exercise settings are pre-set to exercise contracts which are 

one minimum price fluctuation or more “in the money” with reference to 

the relevant reference price. Clearing Members cannot override 

automatic exercise settings or manually enter exercise instructions for 

this contract. 

The reference price will be a price in USD and cents per barrel equal to 

the average of the Settlement Prices of the USGC HSFO (Platts) Futures 

Contract for the contract month. 

Strike Price Intervals A minimum of 10 Strike Prices in increments of $0.01 per bbl above and 

below the at-the-money Strike Price. Strike Price boundaries are adjusted 

according to futures price movements. User-defined Strike Prices are 

allowed in $0.01 increments. 

Contract Series Up to 60 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.22 JET FUEL OUTRIGHT – GULF COAST JET FUEL (PLATTS) AVERAGE PRICE OPTION 

Product Name Jet Fuel Outright – Gulf Coast Jet Fuel (Platts) Average Price 

Option

Description The Gulf Coast Jet Fuel (Platts) Average Price Option is based on the 

underlying Gulf Coast Jet Fuel Futures Contract and will 

automatically exercise into the Gulf Coast Jet Fuel Futures Contract 

on the day of expiry of the options contract 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Last Trading Day of the contract month 

Option Type Options are average priced and will be automatically exercised on the 

expiry day if they are "in the money". The Futures Contract resulting 

from exercise immediately goes to cash settlement. If an option is 

"out of the money" it will expire automatically. It is not permitted to 

exercise the option on any other day or in any other circumstances 

than the Last Trading Day. No manual exercise is permitted 

Expiry 14:30 EPT (19:30 London Time). 

Automatic exercise settings are pre-set to exercise contracts which 

are one minimum price fluctuation or more "in the money" with 

reference to the relevant reference price. Clearing Members cannot 

override automatic exercise settings or manually enter exercise 

instructions for this contract. 

The reference price will be a price in USD and cents per gallon equal 

to the final Settlement Price of the Platts Gulf Coast Jet Fuel Futures 

Contract for the contract month. 

Strike Price Intervals A minimum of 10 strikes above and below at the money in $0.01 

increments will be listed at launch. This contract will support 

Custom Option Strikes with strikes in increments of $0.001 within a 

range of $0.500 to $10.000. This range may be revised from time to 

time according to future price movements. The at-the-money strike 

price is the closest interval nearest to the previous business day's 

settlement price of the underlying contract 

Contract Series Up to 48 consecutive months 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for Platts US Marketscan 
Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 

 
19.F.23 CRUDE DIFF – DAILY WTI 1-MONTH CALENDAR SPREAD OPTION 

Product Name Crude Diff – Daily WTI 1-Month Calendar Spread Option

Description The Daily WTI Crude Oil 1-Month Calendar Spread Option is based on the 

difference between two consecutive WTI Crude Futures months, and will 

automatically exercise into the Daily WTI 1-Month Calendar Spread Futures 

Contract on the day of expiry of the options contract. 

Contract Size 1,000 barrels 

Unit of Trading Any multiple of 1,000 barrels. 

Currency US Dollars and cents 

Trading Price Quotation One cent ($0.01) per barrel 

Settlement Price Quotation One tenth of one cent ($0.001) per barrel 

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel 

Last Trading Day The contract expires at 14:30 EPT of the business day equal to the contract 

period. 

Option Type Options are European style and will be automatically exercised on the expiry 

day if they are “in the money”. The Futures Contract resulting from exercise 

immediately goes to cash settlement. If an option is “out of the money” it 

will expire automatically. It is not permitted to exercise the option on any 

other day or in any other circumstances. No manual exercise is permitted 

Expiry 14:30 EPT (19:30 London Time). 

Automatic exercise settings are pre-set to exercise contracts which are one 

minimum price fluctuation or more ‘in the money’ with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per barrel equal to the 

difference between the settlement price of the nearby ICE Futures Europe 

WTI Crude Futures Contract and the settlement price of the next consecutive 

contract month of the ICE Futures Europe WTI Crude Futures Contract 

series on the Last Trading Day. For these purposes “settlement price” means 

the official settlement value of the ICE Futures Europe WTI Crude Futures 

contract month for the active day of the option. ICE Futures Europe WTI 

Crude Futures are penultimate dated to the corresponding NYMEX Light 

Sweet Crude Contract. 

Strike Price Intervals A minimum of 10 Strike Prices in increments of $0.05 per bbl above and 

below the at-the-money Strike Price. Strike Price boundaries are adjusted 

according to futures price movements. User-defined Strike Prices are 

allowed in $0.01 increments.

Contract Series Up to 6 consecutive business days 
Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
 19.F.24 DIESEL DIFF – NEW YORK HARBOR ULSD 1-MONTH CALENDAR SPREAD OPTION 

Product Name Diesel Diff – New York Harbor ULSD 1-Month Calendar Spread 

Option

Description The New York Harbor ULSD 1-Month Calendar Spread Option is based on 

the difference between two consecutive New York Harbor ULSD Futures 

Contract months, and will automatically exercise into the New York Harbor 

ULSD 1-month Calendar Spread Futures Contract. on the day of expiry of 

the options contract. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels. 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Trading shall end at the end of the designated settlement period on the 

expiration date of the nearby month of the ICE Futures Europe New York 

Harbor Heating Oil Futures Contract. 

Option Type Options are European style and will be automatically exercised on the expiry 

day if they are “in the money”. The Futures Contract resulting from exercise 

immediately goes to cash settlement. If an option is “out of the money” it 

will expire automatically. It is not permitted to exercise the option on any 

other day or in any other circumstances. No manual exercise is permitted. 

Expiry 14:30 EPT (19:30 London Time). 

Automatic exercise settings are pre-set to exercise contracts which are one 

minimum price fluctuation or more ‘in the money’ with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per gallon equal to the 

difference between the settlement price of the nearby ICE Futures Europe 

New York Harbor Heating Oil Futures Contract and the Settlement Price of 

the next consecutive contract month of the ICE Futures Europe New York 

Harbor Heating Oil Futures Contract series on the Last Trading Day. 

Strike Price Intervals A minimum of 10 Strike Prices in increments of $0.01 per gal above and 

below the at-the-money Strike Price. Strike Price boundaries are adjusted 

according to futures price movements. User-defined Strike Prices are 

allowed in $0.001 increments. 

Contract Series Up to 36 consecutive 1-month calendar spreads 
Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
19.F.25 GASOLINE DIFF - RBOB GASOLINE 1-MONTH CALENDAR SPREAD OPTION 

Product Name Gasoline Diff - RBOB Gasoline 1-Month Calendar Spread Option

Description The RBOB Gasoline 1-Month Calendar Spread Option is based on the 

difference between two consecutive RBOB Gasoline Futures months and 

automatically exercises into the ICE RBOB Gasoline 1-Month Calendar 

Spread Future on the day of expiry of the options contract. 

Contract Size 1,000 barrels (42,000 gallons) 

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons). 

Currency US Dollars and cents 

Trading Price Quotation One hundredth of one cent ($0.0001) per gallon 

Settlement Price Quotation One hundredth of one cent ($0.0001) per gallon 

Minimum Price Fluctuation One hundredth of one cent ($0.0001) per gallon 

Last Trading Day Trading shall end at the end of the designated settlement period on the 

expiration date of the nearby month ICE Futures Europe RBOB Gasoline 

Futures Contract. 

Option Type Options are European style and will be automatically exercised on the expiry 

day if they are “in the money”. The Futures Contract resulting from exercise 

immediately goes to cash settlement. If an option is “out of the money” it 

will expire automatically. It is not permitted to exercise the option on any 

other day or in any other circumstances. No manual exercise is permitted. 

Expiry 14:30 EPT (19:30 London Time). 

Automatic exercise settings are pre-set to exercise contracts which are one 

minimum price fluctuation or more ‘in the money’ with reference to the 

relevant reference price. Clearing Members cannot override automatic 

exercise settings or manually enter exercise instructions for this contract. 

The reference price will be a price in USD and cents per gallon equal to the 

difference between the settlement price of the nearby ICE Futures Europe 

RBOB Gasoline Futures Contract and the settlement price of the next 

consecutive contract month of the ICE Futures Europe RBOB Gasoline 

Futures Contract series on the Last Trading Day. 

Strike Price Intervals A minimum of 10 Strike Prices in increments of $0.01 per gal above and 

below the at-the-money Strike Price. Strike Price boundaries are adjusted 

according to futures price movements. User-defined Strike Prices are 

allowed in $0.001 increments. 

Contract Series Up to 48 consecutive 1-month calendar spreads 

Final Payment Dates Two Clearing House Business Days following the Last Trading Day 

business days Publication days for ICE 

Position Limits Specified in Table 2 to Chapter 19 --see IFUS website 
SUBCHAPTER 19 G. PETROCHEMICALS 

19.G.1 Ethylene, PCW Mont Belvieu Future 

19.G.2 Ethylene, PCW Mont Belvieu Balmo Future 

19.G.3 Polymer Grade Propylene (PGP), PCW Mont Belvieu Future 

19.G.4 Polymer Grade Propylene (PGP), PCW Mont Belvieu Balmo Future 

19.G.5 Benzene, PCW US Contract Price Future 

19.G.6 Benzene, PCW US Index Fixed Price Future

 
1. ETHYLENE, PCW MONT BELVIEU FUTURE 

Product Name Ethylene, PCW Mont Belvieu Future 

Contract Description A monthly cash settled future based upon the average of the daily prices 

published by PetroChem Wire for the location specified in Reference Price A 

Settlement Method Cash settlement

Contract Size 100,000 pounds 

Currency US dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per pound

Listing Cycle Up to 36 consecutive monthly contract months

Last Trading Day Last trading day of the contract month 

Final Settlement Average of Reference Price A prices 

REFERENCE 

PRICE A 

MONOMERS–ETHYLENE FOB MT B WMS–PETROCHEM WIRE

a) Description "MONOMERS–ETHYLENE FOB MT B WMS–PETROCHEM WIRE" 

means that the price for a Pricing Date will be that day's Specified Price per 

pound of ethylene, stated in US Dollars, published under the heading "Closing 

Markets – Monomers – Ethylene MT B FOB" in the issue of Petrochem Wire 

that reports prices effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price 

d) Pricing calendar PetroChem Wire 

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website

 
2. ETHYLENE, PCW MONT BELVIEU BALMO FUTURE 

Product Name Ethylene, PCW Mont Belvieu Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by PetroChem Wire for the location specified in Reference 

Price A 

Settlement Method Cash settlement

Contract Size 100,000 pounds

Currency US dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per pound 

Listing Cycle Up to 2 consecutive monthly contract months

Last Trading Day Last trading day of the contract month

Final Settlement Average of Reference Price A prices 

REFERENCE 

PRICE A 

MONOMERS–ETHYLENE FOB MT B WMS–PETROCHEM WIRE 

a) Description "MONOMERS–ETHYLENE FOB MT B WMS–PETROCHEM WIRE" 

means that the price for a Pricing Date will be that day's Specified Price per 

pound of ethylene, stated in US Dollars, published under the heading "Closing 

Markets – Monomers – Ethylene MT B FOB" in the issue of Petrochem Wire 

that reports prices effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price 

d) Pricing calendar PetroChem Wire 

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website

 
3. POLYMER GRADE PROPYLENE (PGP), PCW MONT BELVIEU FUTURE 

Product Name Polymer Grade Propylene (PGP), PCW Mont Belvieu Future 

Contract Description A monthly cash settled future based upon the average of the daily prices 

published by PetroChem Wire for the location specified in Reference Price A 

Settlement Method Cash settlement 

Contract Size 100,000 pounds

Currency US dollars and cents

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per pound 

Listing Cycle Up to 36 consecutive monthly contract months 

Last Trading Day Last trading day of the contract month

Final Settlement Average of Reference Price A prices

REFERENCE 

PRICE A 

MONOMERS–PGP FOB MT B EPC–PETROCHEM WIRE 

a) Description "MONOMERS–PGP FOB MT B EPC–PETROCHEM WIRE" means that the 

price for a Pricing Date will be that day's Specified Price per pound of 

polymer grade propylene, stated in US Dollars, published under the heading 

"Closing Markets – Monomers – PGP MT B FOB" in the issue of Petrochem 

Wire that reports prices effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price

d) Pricing calendar PetroChem Wire 

e) Delivery Date Contract month 

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website

 
4. POLYMER GRADE PROPYLENE (PGP), PCW MONT BELVIEU BALMO FUTURE 

Product Name Polymer Grade Propylene (PGP), PCW Mont Belvieu Balmo Future 

Contract Description A balance of the month cash settled future based upon the average of the daily 

prices published by PetroChem Wire for the location specified in Reference 

Price A 

Settlement Method Cash settlement

Contract Size 100,000 pounds 

Currency US dollars and cents 

Minimum Price 

Fluctuation 

One thousandth of one cent ($0.00001) per pound

Listing Cycle Up to 2 consecutive monthly contract months

Last Trading Day Last trading day of the contract month

Final Settlement Average of Reference Price A prices 

REFERENCE 

PRICE A 

MONOMERS–PGP FOB MT B EPC–PETROCHEM WIRE 

a) Description "MONOMERS–PGP FOB MT B EPC–PETROCHEM WIRE" means that the 

price for a Pricing Date will be that day's Specified Price per pound of 

polymer grade propylene, stated in US Dollars, published under the heading 

"Closing Markets – Monomers – PGP MT B FOB" in the issue of Petrochem 

Wire that reports prices effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price 

d) Pricing calendar PetroChem Wire 

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website
5. BENZENE, PCW US CONTRACT PRICE FUTURE 

Product Name Benzene, PCW US Contract Price Future

Contract Description A cash settled future equal to the price published by PetroChem Wire for the 

location specified in Reference Price A 

Settlement Method Cash settlement 

Contract Size 1,000 bbl

Currency US Dollars and cents

Trading Price 

Quotation 

One cent ($0.01) per gallon 

Settlement Price 

Quotation 

One cent ($0.01) per gallon 

Minimum Price 

Fluctuation 

One cent ($0.01) per gallon

Listing Cycle Up to 36 consecutive monthly contract months

Last Trading Day Last trading day prior to the contract month 

Final Settlement Reference Price A 

REFERENCE 

PRICE A 

MONOMERS - BENZENE US CP – PETROCHEM WIRE

a) Description "MONOMERS - BENZENE US CP – PETROCHEM WIRE" means that the 

price for a Pricing Date will be that day's Specified Price per gallon of 

benzene for delivery on the Delivery Date, stated in US Dollars, published by 

PetroChem Wire under the heading "Prices/Deal History - Posted Contract 

Prices - Benzene” on the PetroChem Wire website that reports prices effective 

on that Pricing Date 

b) Pricing Date First business day of the contract month

c) Specified Price Price 

d) Pricing calendar PetroChem Wire 

e) Delivery Date Contract month

Final Payment Date Three Clearing House Business Days following the Last Trading Day

Position Limits Specified in Table 2 to Chapter 19-see IFUS website

 
6. BENZENE, PCW US INDEX FIXED PRICE FUTURE 

Product Name Benzene, PCW US Index Fixed Price Future 

Contract Description A monthly cash settled future based upon the average of the daily prices 

published by PetroChem Wire for the location specified in Reference Price A 

Settlement Method Cash settlement 

Contract Size 1,000 bbl

Currency US Dollars and cents

Trading Price 

Quotation 

One cent ($0.01) per gallon 

Settlement Price 

Quotation 

One cent ($0.01) per gallon

Minimum Price 

Fluctuation 

One cent ($0.01) per gallon

Listing Cycle Up to 36 consecutive monthly contract months

Last Trading Day Last trading day prior to the contract month 

Final Settlement Average of Reference Price A prices 

REFERENCE 

PRICE A 

MONOMERS - BENZENE US Index – PETROCHEM WIRE

a) Description "MONOMERS - BENZENE US Index – PETROCHEM WIRE" means that 

the price for a Pricing Date will be that day's Specified Price per gallon of 

benzene for delivery on the Delivery Date, stated in US Dollars, published 

under the heading "Closing Markets – Monomers – Benzene DDP HTC" in 

the issue of PetroChem Wire that reports prices effective on that Pricing Date 

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Price 

d) Pricing calendar PetroChem Wire 

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day 

Position Limits Specified in Table 2 to Chapter 19-see IFUS website