- Trading Screen Product Name
- Ethane OPIS Futures
- Trading Screen Hub Name
- MT.B-ENT
- Contract Symbol
ETE
- Settlement Method
Exercise into Underlying Futures Contract
- Contract Size
1,000 barrels
- Currency
USD
- Minimum Price Fluctuation
The price quotation convention shall be One thousandth of a cent ($0.00001) per gallon; 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.
- 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 the average of
the Reference Price A prices, 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-MONT BELVIEU PURITY ETHANE-OPIS
- a) Ref Price A - Description
"NGL-MONT BELVIEU PURITY ETHANE-OPIS" means that the price for a Pricing Date will be that day's Specified Price per gallon of ethane for delivery on the Delivery Date, stated in U.S. cents, published under the heading "Mont Belvieu Spot Gas Liquids Prices: Purity Ethane: 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 Period
- Strike Price Listing
A minimum of a ten Strike Prices in increments of $0.10 per
gallon 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 a $0.00001
increments.
- MIC Code
- IFED
- Clearing Venues
- ICEU