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ICE Futures U.S.

Propane, Argus Far East Index (AFEI) Future

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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
Cash settlement
Contract Size
1,000 metric tonnes
Currency
USD
Minimum Price Fluctuation
The price quotation convention shall be One tenth of a cent ($0.001) per metric tonne; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. 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-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, stated in U.S. 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
Price
d) Ref Price A - Pricing calendar
Argus International LPG
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

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00		7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00		12:40 AM
00:40
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00		7:40 AM
07:40

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
NGL Master
Physical
AFE
Logical
AFE
GMI (FC)
QS
ION A.C.N.
Symbol Code
AFE