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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

Codes