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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

Normal Butane OPIS Futures

Trading Screen Hub Name

MT.B-TAR

Contract Symbol

NBE

Contract Size

1,000 barrels (42,000 gallons)

Unit of Trading

Any multiple of 1,000 barrels (42,000 gallons)

Currency

US Dollars and cents

Trading Price Quotation

One thousandth of one cent ($0.00001) per gallon;

Settlement Price Quotation

One thousandth of one cent ($0.00001) per gallon;

Minimum Price Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Last Trading Day

Last Trading Day of the contract month

Final Settlement

Average of Reference Price A prices

Contract Series

Up to 72 consecutive monthly Contract Periods

REFERENCE PRICE A

NGL-MONT BELVIEU Normal Butane (Other NON-TET)-OPIS

a) Ref Price A - Description

"NGL-MONT BELVIEU Normal Butane (Other NON-TET)-OPIS" means that the price for a Pricing Date will be that day's Specified Price per gallon of Normal Butane for delivery on the Delivery Date, stated in U.S. cents, published under the heading "Mont Belvieu Spot Gas Liquids Prices: Other Non-TET N. Butane: 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 month

Final Payment Date

Two Clearing House Business Days following the Last Trading Day

Business Days

Publication days for OPIS

MIC Code

IFED

Clearing Venues

ICEU

Trading Hours

Codes