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Description

A monthly cash settled Exchange Futures Contract based upon the average of the daily prices published by Argus International LPG for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name

Propane Argus Futures

Trading Screen Hub Name

Far East

Contract Symbol

AFE

Settlement Method

Exercise into Underlying Futures Contract

Contract Size

1,000 metric tonnes

Currency

US Dollars and cents

Minimum Price Fluctuation

One tenth of one cent ($0.001) per metric tonne

Contract Series

Up to 72 consecutive monthly Contract Periods

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 Reference Price A minus Reference Price B, 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-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG

a) Ref Price A - Description

"NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG" means that the price for a Pricing Date will be that day's Specified Price per tonne of propane for delivery on the Delivery Date, stated in US Dollars, published under the heading "Asia-Pacific: Argus Far East Index (AFEI): Propane" in the issue of Argus International LPG 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 Price

d) Ref Price A - Pricing calendar

Argus International LPG

e) Ref Price A - Delivery Date

Contract month

Strike Price Listing

A minimum of a ten Strike Prices in increments of $0.50 per metric tonne 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 $0.01 increments.

MIC Code

IFED

Clearing Venues

ICEU

Trading Hours

Codes