- 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