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Description

A monthly Average Price Option on the corresponding Contract month of the Ethane in E/P Mix, OPIS Conway In-Well, Fixed Price Future

Market Specifications

Trading Screen Product Name

EP OPIS Futures

Trading Screen Hub Name

Conway

Contract Symbol

ECC

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.

Listing Cycle

Up to 72 consecutive monthly contract months

Last Trading Day

Last Trading Day of the contract month

Option Style

Average Price

Exercise Procedure

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 the Second Business Day following the Last Trading Day

REFERENCE PRICE A

NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS

a) Ref Price 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 U.S. 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) Ref Price A - Pricing Date

Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price

Average

d) Ref Price A - Pricing calendar

OPIS

e) Ref Price A - Delivery Date

Contract Period

Strike Price Listing

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.

Final Payment Date

The second Clearing Organization business day following the Last Trading Day

MIC Code

IFED

Clearing Venues

ICEU

Trading Hours

Codes