Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future61989100
ICE Futures U.S.
Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future
Description
A monthly cash settled future based upon the mathematical result of
subtracting the average of the daily prices published by Argus
International LPG for the location specified in Reference Price B
from the average of the daily prices published by OPIS for the
location specified in Reference Price A.
For purposes of determining the Floating Price, the OPIS price
will be converted each day to US dollars and cents per metric
tonne, rounded to the nearest cent. The conversion factor will be
521 gallons per metric tonne.
Market Specifications
- Trading Screen Product Name
- Propane OPIS/Argus Diff Futures
- Trading Screen Hub Name
- MT.B-ETR/CIF ARA
- Contract Symbol
- CEK
- Settlement Method
- Cash settlement
- Contract Size
- 1,000 metric tonnes
- Currency
- US Dollars and cents
- Minimum Price Fluctuation
- One tenth of one cent ($0.001) per metric tonne
- Listing Cycle
- Up to 72 consecutive monthly Contract Periods
- Last Trading Day
- Last Trading Day of the contract month
- Final Settlement
- The average of the Reference Price A prices minus the average of the Reference Price B prices. Non-common pricing applies.
- REFERENCE PRICE A
- NGL-MONT BELVIEU PROPANE (TET)-OPIS
- a) Ref Price A - Description
- "NGL-MONT BELVIEU PROPANE (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 US cents, published under the heading "Mont Belvieu Spot Gas Liquids Prices: 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
- Price
- d) Ref Price A - Pricing calendar
- OPIS
- e) Ref Price A - Delivery Date
- Contract month
- REFERENCE PRICE B
- NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS INTERNATIONAL LPG
- a) Description
- "NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-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 "Northwest Europe and Mediterranean: cif ARA (large cargoes): Propane" in the issue of Argus International LPG that reports prices effective on that Pricing Date.
- b) Pricing Date
- Each day that prices are reported for the Delivery Date
- c) Specified Price
- Price
- d) Pricing Calendar
- Argus International LPG
- e) Delivery Date
- Contract month
- Final Payment Date
- Two Clearing House Business Days following the Last Trading Day
- MIC Code
- IFED
- Clearing Venues
- ICEU
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 8:50 AM - 7:00 AM* 08:50 - 07:00 | 8:40 AM 08:40 |
*Next Day
Sunday Pre-Open 5:40 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- NGL Master
- Physical
- CEK
- Logical
- CEK
- GMI (FC)
- HQ
- ION A.C.N.
- Symbol Code
- CEK