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Description

A monthly cash settled future based upon the average of the daily prices published by OPIS for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name

Propane OPIS Futures

Trading Screen Hub Name

MT.B-TAR

Contract Symbol

PBO

Settlement Method

Cash settlement

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 Periods

Last Trading Day

The last Business Day of the Contract Period

Final Settlement

Average of Reference Price A prices

REFERENCE PRICE A

NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS

a) Ref Price A - Description

"NGL-MONT BELVIEU PROPANE (Other NON-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: Other Non-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

c) Ref Price A - Specified Price

Average

d) Ref Price A - Pricing calendar

OPIS

e) Ref Price A - Delivery Date

Contract Period

Final Payment Date

The second Clearing Organization business day following the Last Trading Day

MIC Code

IFED

Clearing Venues

ICEU

Related Products

• Propane, OPIS Mt. Belvieu Other Non-TET Balmo Future

Trading Hours

Codes