ICE Normal Butane, OPIS Mt. Belvieu Non-TET

A monthly cash settled Exchange Futures Contract based upon the average of the daily prices published by OPIS for the location specified in Reference Price A.
Normal Butane, OPIS Mt. Belvieu Non-TET Future	Normal Butane, OPIS Mt. Belvieu Non-TET Future 	Normal Butane, OPIS Mt. Belvieu Non-TET Future 	Normal Butane, OPIS Mt. Belvieu Non-TET Future
Trading Screen Product Name 	Normal Butane OPIS Futures 	Normal Butane OPIS Futures 	Normal Butane OPIS Futures
Trading Screen Hub Name 	MT.B-ENT 	MT.B-ENT 	MT.B-ENT
Contract Symbol 	NBI 	NBI 	NBI
Settlement Method 	Cash settlement 	Cash settlement 	Cash settlement
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.
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 N. BUTANE (NON-TET)-OPIS 	NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS 	NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS
a) Ref Price 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 U.S. 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.	"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 U.S. 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.	"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 U.S. 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) 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 	NBI 	NBI
Codes 	Logical 	NBI 	NBI
Codes 	GMI (FC) 	ZD 	ZD
Codes 	ION A.C.N. 	QM94 	QM94
Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Options	Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Options 	Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Options 	Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Options
Trading Screen Product Name 	Normal Butane OPIS Futures 	Normal Butane OPIS Futures 	Normal Butane OPIS Futures
Trading Screen Hub Name 	MT.B-ENT 	MT.B-ENT 	MT.B-ENT
Contract Symbol 	NBI 	NBI 	NBI
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 	At the end of the Trading Session on the last Business Day of the Contract Period 	At the end of the Trading Session on the last Business Day of the Contract Period 	At the end of the Trading Session on the last Business Day of the Contract Period
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 N. BUTANE (NON-TET)-OPIS 	NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS 	NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS
a) Ref Price 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 U.S. 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	"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 U.S. 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	"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 U.S. 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) 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 5:10 PM ET; Closed on Saturday 	*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday 	*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes 	Clearing Admin Name 	NGL Master 	NGL Master
Codes 	Physical 	NBI 	NBI
Codes 	Logical 	NBI 	NBI
Codes 	GMI (FC) 	ZD 	ZD
Codes 	ION A.C.N. 	QM94 	QM94
== Notes ==
==References==
==Resources==
ICE Henry Penultimate Fixed Price Product Spec
ICE Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Options Product Spec
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