Propane, OPIS Mt. Belvieu TET vs WTI 1st Line Future83049092
ICE Futures U.S.
Propane, OPIS Mt. Belvieu TET vs WTI 1st Line Future
Description
A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting the average of the daily prices published by NYMEX for the location specified in Reference Price B from the average of the daily prices published by OPIS for the location specified in Reference Price A.
Market Specifications
- Trading Screen Product Name
- Propane OPIS/Crude Diff Futures
- Trading Screen Hub Name
- Mt. B-TET/WTI 1st Line
- Contract Symbol
- PRW
- Settlement Method
- Cash Settlement
- Contract Size
- 1,000 barrels
- Currency
- USD
- Unit of Trading
- Any multiple of 1,000 barrels
- Contract Series
- Up to 72 consecutive months, or as otherwise determined by the Exchange
- Last Trading Day
- Last Trading Day of the contract month
- Final Settlement
- The average of the Reference Price A prices minus the average of the Reference Price B prices.
- a) Ref Price A - Description
- "NGL-MONT BELVIEU PROPANE (TET)-OPIS" means that the price for a Pricing Date will be that day's Specified Price per gallon of propane for delivery on the Delivery Date, stated in U.S. cents, published under the heading "Mont Belvieu Spot Gas Liquids Prices: TET Propane: 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
- a) Ref Price B - Description
- "OIL-WTI-NYMEX" means that the price for a Pricing Date will be that day's Specified Price per barrel of the NYMEX Light Sweet Crude Oil Futures for the Delivery Date, stated in U.S. Dollars, as made public by the NYMEX on that Pricing Date.
- c) Ref Price B - Specified Price
- Settlement Price
- e) Ref Price B - Delivery Date
- First Nearby Month
- Final Payment Date
- The second Clearing Organization business Days 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 | 7:50 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
- PRW
- Logical
- PRW
- GMI (FC)
- ION A.C.N.
- Symbol Code
- PRW