CME Group Mont Belvieu Normal Butane (OPIS) vs European Butane CIF ARA (Argus)

Mont Belvieu Normal Butane (OPIS) vs European Butane CIF ARA (Argus) was first listed on CME on March 23rd, 2020 along with 2 other European Butane futures: CME Group European Butane CIF ARA (Argus) and CME Group European Butane CIF ARA (Argus) BALMO.
Mont Belvieu Normal Butane (OPIS) vs European Butane CIF ARA (Argus) Futures	Mont Belvieu Normal Butane (OPIS) vs European Butane CIF ARA (Argus) Futures 	Mont Belvieu Normal Butane (OPIS) vs European Butane CIF ARA (Argus) Futures
Contract Unit 	1000 metric tons 	1000 metric tons
Price Quotation 	U.S. dollars and cents per metric ton 	U.S. dollars and cents per metric ton
Trading Hours 	Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) 	Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation 	0.001 per metric ton = $1.00 	0.001 per metric ton = $1.00
Product Code 	CME Globex: TEF
CME ClearPort: TEF
Clearing: TEF 	CME Globex: TEF
CME ClearPort: TEF
Clearing: TEF
Listed Contracts 	Monthly contracts listed for the current year and the next 3 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year. 	Monthly contracts listed for the current year and the next 3 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Settlement Method 	Financially Settled 	Financially Settled
Floating Price 	The Floating Price for each contract month is equal to the arithmetic average of the OPIS Mt. Belvieu Butane (non-LDH) minus the aithmetic average of the high and low quotations from Argus Media for Butane CIF ARA Large Cargo for each business day that is determined during the contract month (using Non-common pricing). For the purposes of determining the Floating Price, the OPIS Mt. Belvieu Butane (non-LDH) price will be converted each day to a U.S. dollars and cents per metric ton, rounded to the nearest cent. The conversion factror will be 452.8 gallons per metric ton.	The Floating Price for each contract month is equal to the arithmetic average of the OPIS Mt. Belvieu Butane (non-LDH) minus the aithmetic average of the high and low quotations from Argus Media for Butane CIF ARA Large Cargo for each business day that is determined during the contract month (using Non-common pricing). For the purposes of determining the Floating Price, the OPIS Mt. Belvieu Butane (non-LDH) price will be converted each day to a U.S. dollars and cents per metric ton, rounded to the nearest cent. The conversion factror will be 452.8 gallons per metric ton.
Termination of Trading 	Trading terminates on the last U.S. and London business day of the month. 	Trading terminates on the last U.S. and London business day of the month.
Position Limits 	NYMEX Position Limits 	NYMEX Position Limits
Exchange Rulebook 	NYMEX 1428 	NYMEX 1428
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing
== Notes ==
== References ==
== Resources ==
*CME Group Mont Belvieu Normal Butane (OPIS) vs European Butane CIF ARA (Argus) Contract Specifications
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