ICE Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future

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 Floating 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.
== Contract Specs ==
Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future	Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future 	Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future 	Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future
Trading Screen Product Name 	Propane OPIS/Argus Diff Futures 	Propane OPIS/Argus Diff Futures 	Propane OPIS/Argus Diff Futures
Trading Screen Hub Name 	MT.B-LST/CIF ARA 	MT.B-LST/CIF ARA 	MT.B-LST/CIF ARA
Contract Symbol 	CEK 	CEK 	CEK
Settlement Method 	Cash settlement 	Cash settlement 	Cash settlement
Contract Size 	1,000 metric tonnes 	1,000 metric tonnes 	1,000 metric tonnes
Currency 	US Dollars and cents 	US Dollars and cents 	US Dollars and cents
Minimum Price Fluctuation 	One tenth of one cent ($0.001) per metric tonne 	One tenth of one cent ($0.001) per metric tonne 	One tenth of one cent ($0.001) per metric tonne
Listing Cycle 	Up to 72 consecutive monthly Contract Periods 	Up to 72 consecutive monthly Contract Periods 	Up to 72 consecutive monthly Contract Periods
Last Trading Day 	Last Trading Day of the contract month 	Last Trading Day of the contract month 	Last Trading Day of the contract month
Final Settlement 	The average of the Reference Price A prices minus the average of the Reference Price B prices. Non-common pricing applies. 	The average of the Reference Price A prices minus the average of the Reference Price B prices. Non-common pricing applies. 	The average of the Reference Price A prices minus the average of the Reference Price B prices. Non-common pricing applies.
REFERENCE PRICE A 	NGL-MONT BELVIEU PROPANE (TET)-OPIS 	NGL-MONT BELVIEU PROPANE (TET)-OPIS 	NGL-MONT BELVIEU PROPANE (TET)-OPIS
a) Ref Price 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: Non-TET Propane: Any Current Month" in the issue of OPIS that reports prices effective on that Pricing Date. 	"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: Non-TET Propane: Any Current Month" in the issue of OPIS that reports prices effective on that Pricing Date. 	"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: Non-TET Propane: Any Current Month" in the issue of OPIS that reports prices effective on that Pricing Date.
b) Ref Price A - Pricing Date 	Each day that prices are reported for the Delivery Date 	Each day that prices are reported for the Delivery Date 	Each day that prices are reported for the Delivery Date
c) Ref Price A - Specified Price 	Price 	Price 	Price
d) Ref Price A - Pricing calendar 	OPIS 	OPIS 	OPIS
e) Ref Price A - Delivery Date 	Contract month 	Contract month 	Contract month
REFERENCE PRICE B 	NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS INTERNATIONAL LPG 	NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS INTERNATIONAL LPG 	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.	"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.	"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 	Each day that prices are reported for the Delivery Date 	Each day that prices are reported for the Delivery Date
c) Specified Price 	Price 	Price 	Price
d) Pricing Calendar 	Argus International LPG 	Argus International LPG 	Argus International LPG
e) Delivery Date 	Contract month 	Contract month 	Contract month
Final Payment Date 	Two Clearing House Business Days following the Last Trading Day 	Two Clearing House Business Days following the Last Trading Day 	Two Clearing House Business Days following the Last Trading Day
MIC Code 	IFED 	IFED 	IFED
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	7:50 PM - 6:00 PM*
19:50 - 18:00 	7:40 PM
19:40
Trading Hours 	LONDON 	12:50 AM - 11:00 PM*
00:50 - 23:00 	12:40 AM
00:40
Trading Hours 	SINGAPORE 	7:50 AM - 6:00 AM*
07:50 - 06:00 	7:40 AM
07:40
Trading Hours 	*Next Day
Sunday Pre-Open 5:40 PM ET; Closed on Saturday 	*Next Day
Sunday Pre-Open 5:40 PM ET; Closed on Saturday 	*Next Day
Sunday Pre-Open 5:40 PM ET; Closed on Saturday
Codes 	Clearing Admin Name 	NGL Master 	NGL Master
Codes 	Physical 	CEK 	CEK
Codes 	Logical 	CEK 	CEK
Codes 	GMI (FC) 	HQ 	HQ
Codes 	ION A.C.N. 	None 	None
== Notes ==
== References ==
== Resources ==
Category:Sponsored Pages
Category:Sponsored Pages - ICE
Category:Reserved Pages
Category:Reserved Pages - ICE
Category:Futures Contracts Traded on ICE
Category:Futures Data in Template
Category:Interest Rates