Propane, Argus CIF ARA vs Naphtha, Platts CIF NWE Cargoes (Platts) Future6590318
ICE Futures U.S.
Propane, Argus CIF ARA vs Naphtha, Platts CIF NWE Cargoes (Platts) Future
Description
A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting the average of the daily prices published by Platts European Marketscan for the location specified in Reference Price B from 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/Naphtha Diff Futures
- Trading Screen Hub Name
- CIF ARA/Naphtha CIF NWE Cg
- Contract Symbol
- APN
- 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.
- Contract Series
- Up to 72 consecutive monthly Contract Periods
- Last Trading Day
- The last Business Day of the Contract Period
- Final Settlement
- Average of the Reference Price A prices minus Average of the Reference Price B prices
- REFERENCE PRICE A
- NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS INTERNATIONAL LPG
- a) Ref Price 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 U.S. Dollars, published under the heading "Europe: cif ARA (large cargoes): 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
- REFERENCE PRICE B
- NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS EUROPEAN MARKETSCAN
- a) Ref Price B - Description
- "NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS EUROPEAN MARKETSCAN" means that the price for a Pricing Date will be that day's Specified Price per metric tonne of naphtha, stated in U.S. Dollars, published under the heading "Northwest Europe cargoes: CIF NWE/Basis ARA: Naphtha" in the issue of Platts European Marketscan that reports prices effective on that Pricing Date.
- b) Ref Price B - Pricing Date
- Each day that prices are reported for the Delivery Date
- c) Ref Price B - Specified Price
- Average of high and low prices
- d) Ref Price B - Pricing Calendar
- Platts European Marketscan
- e) Ref Price B - 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
| 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
- APN
- Logical
- APN
- GMI (FC)
- U<
- ION A.C.N.
- Symbol Code
- APN