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Normal Butane, OPIS LST ISOM Grade Future79234889
ICE Futures U.S.

Normal Butane, OPIS LST ISOM Grade Future

Description

A monthly cash settled Exchange Futures Contract based upon the average of the daily prices published by OPIS for the location specified in Reference Price A.

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

Market Specifications

Trading Screen Product Name
Normal Butane OPIS Futures
Trading Screen Hub Name
ETR ISOM
Contract Symbol
BUE
Settlement Method
Cash settlement
Contract Size
1,000 barrels
Currency
US Dollars and cents
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.
Listing Cycle
Up to 72 consecutive monthly Contract Periods
Last Trading Day
Last Trading Day of the contract month
Final Settlement
Average of Reference Price A prices
REFERENCE PRICE A
NGL-TET Isom N. Butane-OPIS
a) Ref Price A - Description
“NGL-TET Isom N. Butane-OPIS " means that the price for a Pricing Date will be that day's Specified Price per gallon of butane for delivery on the Delivery Date, stated in U.S. cents, published under the heading "OPIS Mont Belvieu Spot Gas Liquids Prices: TET Isom 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
Price
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
MIC Code
IFED
Clearing Venues
ICEU

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
BUE
Logical
BUE
Symbol Code
BUE