ICE Propane, OPIS Mt. Belvieu TET

This contract is a monthly cash settled exchange futures Contract based on the average of the daily spot prices (published by OPIS) for products traded out of the TET facility in Mont Belvieu, Texas, USA.
Propane OPIS Futures 	Propane OPIS Futures 	Propane OPIS Futures 	Propane OPIS Futures
Trading Screen Product Name 	Propane Saudi CP Futures 	Propane Saudi CP Futures 	Propane Saudi CP Futures
Trading Screen Hub Name 	MT.B-LST 	MT.B-LST 	MT.B-LST
Contract Symbol 	PRL 	PRL 	PRL
Settlement Method 	Cash settlement 	Cash settlement 	Cash settlement
Contract Size 	1,000 metric tonnes 	1,000 metric tonnes 	1,000 metric tonnes
Currency 	USD 	USD 	USD
Minimum Price Fluctuation 	The price quotation convention shall be One thousandth of a cent ($0.00001) per gallon; The conversion factor for this contract is 42 gallons = 1 barrel. 	The price quotation convention shall be One thousandth of a cent ($0.00001) per gallon; The conversion factor for this contract is 42 gallons = 1 barrel. 	The price quotation convention shall be One thousandth of a cent ($0.00001) per gallon; The conversion factor for this contract is 42 gallons = 1 barrel.
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 	The last Business Day of the Contract Period 	The last Business Day of the Contract Period 	The last Business Day of the Contract Period
Final Settlement 	Average of Reference Price A prices 	Average of Reference Price A prices 	Average of Reference Price A prices
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 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.	"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.	"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) 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 	Average 	Average 	Average
d) Ref Price A - Pricing calendar	OPIS 	OPIS 	OPIS
e) Ref Price A - Delivery Date 	Contract Period 	Contract Period 	Contract Period
Final Payment Date 	The second Clearing Organization business day following the Last Trading Day 	The second Clearing Organization business day following the Last Trading Day 	The second Clearing Organization business day 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 	8:50 AM - 7:00 AM*
08:50 - 07:00 	8:40 AM
08:40
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 	PRL 	PRL
Codes 	Logical 	PRL 	PRL
Codes 	GMI (FC) 	RL 	RL
Codes 	ION A.C.N. 	QJ66 	QJ66
Propane, OPIS Mt. Belvieu TET Average Price Options	Propane, OPIS Mt. Belvieu TET Average Price Options 	Propane, OPIS Mt. Belvieu TET Average Price Options 	Propane, OPIS Mt. Belvieu TET Average Price Options
Trading Screen Product Name 	Propane OPIS Futures 	Propane OPIS Futures 	Propane OPIS Futures
Trading Screen Hub Name 	MT.B-LST 	MT.B-LST 	MT.B-LST
Contract Symbol 	PRL 	PRL 	PRL
Settlement Method 	Exercise into Underlying Futures Contract 	Exercise into Underlying Futures Contract 	Exercise into Underlying Futures Contract
Contract Size 	1,000 barrels 	1,000 barrels 	1,000 barrels
Currency 	USD 	USD 	USD
Minimum Price Fluctuation 	The price quotation convention shall be One thousandth of a cent ($0.00001) per gallon; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. The conversion factor for this contract is 42 gallons = 1 barrel. 	The price quotation convention shall be One thousandth of a cent ($0.00001) per gallon; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. The conversion factor for this contract is 42 gallons = 1 barrel. 	The price quotation convention shall be One thousandth of a cent ($0.00001) per gallon; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. The conversion factor for this contract is 42 gallons = 1 barrel.
Contract Series 	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
Option Style 	Average Price 	Average Price 	Average Price
Exercise 	Automatic Only
Manual exercise or abandon is not permitted
Options which are "in the money", with respect to the average of the Reference Price A 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.
Exercise Day is the Second Business Day following the Last Trading Day	Automatic Only
Manual exercise or abandon is not permitted
Options which are "in the money", with respect to the average of the Reference Price A 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.
Exercise Day is the Second Business Day following the Last Trading Day	Automatic Only
Manual exercise or abandon is not permitted
Options which are "in the money", with respect to the average of the Reference Price A 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.
Exercise Day is the Second Business Day following the Last Trading Day
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 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.	"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.	"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) 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 	Average 	Average 	Average
d) Ref Price A - Pricing calendar 	OPIS 	OPIS 	OPIS
e) Ref Price A - Delivery Date 	Contract Period 	Contract Period 	Contract Period
Strike Price Listing Provisions 	A minimum of a 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 a $0.0001 increments. 	A minimum of a 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 a $0.0001 increments. 	A minimum of a 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 a $0.0001 increments.
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 	8:50 AM - 7:00 AM*
08:50 - 07:00 	8:40 AM
08:40
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 	PRL 	PRL
Codes 	Logical 	PRL 	PRL
Codes 	GMI (FC) 	RL 	RL
Codes 	ION A.C.N. 	QJ66 	QJ66
== Notes ==
==References==
==Resources==
ICE Propane, OPIS Mt. Belvieu TET Product Spec
ICE Propane, OPIS Mt. Belvieu TET Average Price Options Product Spec
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