SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 1
TTT PART II: SPECIFIC STANDARD TERMS FOR FUTURES AND OPTIONS CONTRACTS:
D. NATURAL GAS LIQUIDS
1. Ethane in E/P Mix, OPIS Conway In-Well Future .................................................................................... 3
2. Ethane in E/P Mix, OPIS Conway In-Well Balmo Future ........................................................................ 4
3. Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Future ........................................................................... 5
4. Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Balmo Future................................................................ 6
5. Ethane, OPIS Mt. Belvieu Non-TET Future.............................................................................................. 7
6. Ethane, OPIS Mt. Belvieu Non-TET Balmo Future .................................................................................. 8
7. Ethane, OPIS Mt. Belvieu Other Non-TET Future ................................................................................... 9
8. Isobutane, OPIS Conway In-Well Future ................................................................................................ 10
9. Isobutane, OPIS Conway In-Well Balmo Future .................................................................................... 11
10. Isobutane, OPIS Mt. Belvieu Non-TET Future ....................................................................................... 12
11. Isobutane, OPIS Mt. Belvieu Non-TET Balmo Future ............................................................................ 13
12. Isobutane, OPIS Mt. Belvieu TET Future ............................................................................................... 14
13. Isobutane, OPIS Mt. Belvieu TET Balmo Future .................................................................................... 15
14. Natural Gasoline, OPIS Conway In-Well Future .................................................................................... 16
15. Natural Gasoline, OPIS Conway In-Well Balmo Future ......................................................................... 17
16. Natural Gasoline, OPIS Mt. Belvieu Non-TET Future............................................................................ 18
17. Natural Gasoline, OPIS Mt. Belvieu Non-TET Balmo Future ................................................................ 19
18. Natural Gasoline, OPIS Mt. Belvieu Other Non-TET Future.................................................................. 20
19. Natural Gasoline, OPIS Mt. Belvieu TET Future .................................................................................... 21
20. Natural Gasoline, OPIS Mt. Belvieu TET Balmo Future ........................................................................ 22
21. Normal Butane, OPIS Conway In-Well Future ....................................................................................... 23
22. Normal Butane, OPIS Conway In-Well Balmo Future ........................................................................... 24
23. Normal Butane, OPIS Mt. Belvieu Non-TET Future .............................................................................. 25
24. Normal Butane, OPIS Mt. Belvieu Non-TET Balmo Future ................................................................... 26
25. Normal Butane, OPIS Mt. Belvieu Other Non-TET Future .................................................................... 27
26. Normal Butane, OPIS Mt. Belvieu TET Future ...................................................................................... 28
27. Normal Butane, OPIS Mt. Belvieu TET Balmo Future ........................................................................... 29
28. Butane, Argus Far East Index (AFEI) Future .......................................................................................... 30
29. Butane, Argus Far East Index (AFEI) Balmo Future .............................................................................. 31
30. Butane, Argus Far East Index (AFEI) Mini Future ................................................................................. 32
31. Butane, Argus CIF ARA Future .............................................................................................................. 33
32. Butane, Argus CIF ARA Balmo Future .................................................................................................. 34
33. Butane, Argus CIF ARA Mini Future ..................................................................................................... 35
34. Butane, Argus Saudi CP Future ............................................................................................................... 36
35. Butane, Argus Saudi CP Mini Future ...................................................................................................... 37
36. Butane, Argus Sonatrach CP Future ........................................................................................................ 38
37. Propane, Argus CIF ARA Future ............................................................................................................ 39
38. Propane, Argus CIF ARA Balmo Future ................................................................................................. 40
SECTION TTT PART II D: NATURAL GAS LIQUIDS
2 © ICE Futures Europe 2017
TTT 39. Propane, Argus CIF ARA Mini Future .................................................................................................... 41
40. Propane, Argus Far East Index (AFEI) Future ........................................................................................ 42
41. Propane, Argus Far East Index (AFEI) Balmo Future ............................................................................. 43
42. Propane, Argus Far East Index (AFEI) Mini Future ............................................................................... 44
43. Propane, Argus Saudi CP Future ............................................................................................................. 45
44. Propane, Argus Saudi CP Mini Future .................................................................................................... 46
45. Propane, Argus Sonatrach CP Future ...................................................................................................... 47
46. Propane, OPIS CIF ARA ToT Cargoes Future ........................................................................................ 48
47. Propane, OPIS Conway In-Well Future .................................................................................................. 49
48. Propane, OPIS Conway In-Well Balmo Future ....................................................................................... 50
49. Propane, OPIS Hattiesburg Future .......................................................................................................... 51
50. Propane, OPIS Mt. Belvieu Non-TET Future .......................................................................................... 52
51. Propane, OPIS Mt. Belvieu Non-TET Balmo Future .............................................................................. 53
52. Propane, OPIS Mt. Belvieu Other Non-TET Future ............................................................................... 54
53. Propane, OPIS Mt. Belvieu Other Non-TET Balmo Future .................................................................... 55
54. Propane, OPIS Mt. Belvieu TET Future .................................................................................................. 56
55. Propane, OPIS Mt. Belvieu TET Balmo Future ...................................................................................... 57
56. Propane, OPIS Mt. Belvieu TET Mini Future ......................................................................................... 58
57. Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) Future ............................... 59
58. Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index (AFEI) Future ....................... 61
59. Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future ................................................... 63
60. Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus CIF ARA Future ........................................... 65
61. Natural Gasoline, OPIS Mt. Belvieu Non-TET vs WTI 1st Line Future ................................................. 67
62. Natural Gasoline, OPIS Mt. Belvieu Non-TET vs Naphtha CIF NWE Cargoes (Platts) Future ............. 68
63. NGL Basket, OPIS Mt. Belvieu Non-TET Future ................................................................................... 69
64. Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Future .............................................. 70
65. Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo Future .................................. 71
66. Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) Future ......................... 73
67. Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) Balmo Future ............. 75
68. Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Future ......................................... 77
69. Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Balmo Future .............................. 78
70. Ethane, OPIS Mt. Belvieu Non-TET Average Price Option ................................................................... 79
71. Natural Gasoline, OPIS Mt. Belvieu Non-TET Average Price Option ................................................... 80
72. Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Option ...................................................... 81
73. Propane, OPIS Conway In-Well Average Price Option .......................................................................... 82
74. Propane, OPIS Mt. Belvieu TET Average Price Option ......................................................................... 83
75. Ethane in E/P Mix, OPIS Conway In-Well Average Price Option .......................................................... 84
76. Propane, Argus CIF ARA Average Price Option .................................................................................... 85
77. Propane, Argus Far East Index (AFEI) Average Price Option ................................................................ 86
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 3
TTT 1. ETHANE IN E/P MIX, OPIS CONWAY IN-WELL FUTURE
1
1 Amended 02 January 2014, 1 December 2015
Product Name Ethane in E/P Mix, OPIS Conway In-Well Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol ECC
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE
A
NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS
a) Description "NGL-CONWAY ETHANE IN E-P (IN-WELL)-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 US cents, published under the heading "Conway In-Well
Spot Gas Liquids Prices: Ethane (in E-P): Any Current Month " in the issue of OPIS
that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
SECTION TTT PART II D: NATURAL GAS LIQUIDS
4 © ICE Futures Europe 2017
TTT 2. ETHANE IN E/P MIX, OPIS CONWAY IN-WELL BALMO FUTURE
2
Product Name Ethane in E/P Mix, OPIS Conway In-Well Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LPE-LQI
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS
a) Description "NGL-CONWAY ETHANE IN E-P (IN-WELL)-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 US cents, published under the heading "Conway In-
Well Spot Gas Liquids Prices: Ethane (in E-P): Any Current Month " in the issue
of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
2 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 5
TTT 3. ETHANE IN E/P MIX, OPIS MT. BELVIEU NON-TET FUTURE
3
Product Name Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol ECB
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU EP MIX-OPIS
a) Description "NGL-MONT BELVIEU EP MIX-OPIS" means that the price for a Pricing Date
will be that day's Specified Price per gallon of EP Mix for delivery on the
Delivery Date, stated in US cents, published under the heading "Mont Belvieu
Spot Gas Liquids Prices: EP Mix: Any Current Month" in the issue of OPIS that
reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
3 Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
6 © ICE Futures Europe 2017
TTT 4. ETHANE IN E/P MIX, OPIS MT. BELVIEU NON-TET BALMO FUTURE
4
Product Name Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LNZ-LPD
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU EP MIX-OPIS
a) Description "NGL-MONT BELVIEU EP MIX-OPIS" means that the price for a Pricing Date
will be that day's Specified Price per gallon of EP Mix for delivery on the
Delivery Date, stated in US cents, published under the heading "Mont Belvieu
Spot Gas Liquids Prices: EP Mix: Any Current Month" in the issue of OPIS that
reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
4 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 7
TTT 5. ETHANE, OPIS MT. BELVIEU NON-TET FUTURE
5
Product Name Ethane, OPIS Mt. Belvieu Non-TET Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol ETE
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU PURITY ETHANE-OPIS
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 US 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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
5 Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
8 © ICE Futures Europe 2017
TTT 6. ETHANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE
6
Product Name Ethane, OPIS Mt. Belvieu Non-TET Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol EEA-EEZ; EFA-EFE
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU PURITY ETHANE-OPIS
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 US 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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
6 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 9
TTT 7. ETHANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE
7
Description A monthly cash settled future based upon the average of the daily prices
published by OPIS for the location specified in Reference Price A.
Contract Symbol ETD
Contract Size 1,000 barrels (42,000 gallons)
Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)
Currency US Dollars and cents
Trading Price Quotation One thousandth of one cent ($0.00001) per gallon;
Settlement Price Quotation One thousandth of one cent ($0.00001) per gallon;
Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE A NGL-MONT BELVIEU Purity Ethane (Other Non-TET)-OPIS
a) Description "NGL-MONT BELVIEU Purity Ethane (Other Non-TET)-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: Other Non-TET
Purity Ethane: Any Current Month" in the issue of OPIS North America
LPG Report that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
Contract Series Up to 72 consecutive monthly Contract Periods
Final Payment Dates Two Clearing House Business Days following the Last Trading Day
business days Publication days for OPIS
MIC Code IFEU
Clearing Venue ICEU
7 Inserted 18 September 2017
SECTION TTT PART II D: NATURAL GAS LIQUIDS
10 © ICE Futures Europe 2017
TTT 8. ISOBUTANE, OPIS CONWAY IN-WELL FUTURE
8
Product Name Isobutane, OPIS Conway In-Well Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol ISC
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS
a) Description "NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS" means that the price for a
Pricing Date will be that day's Specified Price per gallon of isobutane for delivery
on the Delivery Date, stated in US cents, published under the heading "Conway
In-Well Spot Gas Liquids Prices: Isobutane: Any Current Month" in the issue of
OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
8 Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 11
TTT 9. ISOBUTANE, OPIS CONWAY IN-WELL BALMO FUTURE
9
Product Name Isobutane, OPIS Conway In-Well Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LWH-LXL
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS
a) Description "NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS" means that the price for a
Pricing Date will be that day's Specified Price per gallon of isobutane for delivery
on the Delivery Date, stated in US cents, published under the heading "Conway
In-Well Spot Gas Liquids Prices: Isobutane: Any Current Month" in the issue of
OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
9 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
12 © ICE Futures Europe 2017
TTT 10. ISOBUTANE, OPIS MT. BELVIEU NON-TET FUTURE
10
Product Name Isobutane, OPIS Mt. Belvieu Non-TET Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol ISO
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS" means that the price
for a Pricing Date will be that day's Specified Price per gallon of isobutane for
delivery on the Delivery Date, stated in US cents, published under the heading
"Mont Belvieu Spot Gas Liquids Prices: Non-TET Isobutane: Any Current
Month" in the issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
10 Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 13
TTT 11. ISOBUTANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE
11
Product Name Isobutane, OPIS Mt. Belvieu Non-TET Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LVC-LWG
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS" means that the price
for a Pricing Date will be that day's Specified Price per gallon of isobutane for
delivery on the Delivery Date, stated in US cents, published under the heading
"Mont Belvieu Spot Gas Liquids Prices: Non-TET Isobutane: Any Current
Month" in the issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
11 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
14 © ICE Futures Europe 2017
TTT 12. ISOBUTANE, OPIS MT. BELVIEU TET FUTURE
12
Product Name Isobutane, OPIS Mt. Belvieu TET Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol ISL
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS
a) Description "NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS" means that the price for a
Pricing Date will be that day's Specified Price per gallon of isobutane for delivery
on the Delivery Date, stated in US cents, published under the heading "Mont
Belvieu Spot Gas Liquids Prices: TET Isobutane: Any Current Month" in the
issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
12 Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 15
TTT 13. ISOBUTANE, OPIS MT. BELVIEU TET BALMO FUTURE
13
Product Name Isobutane, OPIS Mt. Belvieu TET Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol ZHF-ZIJ
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS
a) Description "NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS" means that the price for a
Pricing Date will be that day's Specified Price per gallon of isobutane for delivery
on the Delivery Date, stated in US cents, published under the heading "Mont
Belvieu Spot Gas Liquids Prices: TET Isobutane: Any Current Month" in the
issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
13 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
16 © ICE Futures Europe 2017
TTT 14. NATURAL GASOLINE, OPIS CONWAY IN-WELL FUTURE
14
Product Name Natural Gasoline, OPIS Conway In-Well Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol NGC
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS
a) Description "NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS" means that the price for a
Pricing Date will be that day's Specified Price per gallon of natural gas for
delivery on the Delivery Date, stated in US cents, published under the heading
"Conway In-Well Spot Gas Liquids Prices: N. Gasoline: Any Current Month" in
the issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
14 Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 17
TTT 15. NATURAL GASOLINE, OPIS CONWAY IN-WELL BALMO FUTURE
15
Product Name Natural Gasoline, OPIS Conway In-Well Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LJF-LKJ
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS
a) Description "NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS" means that the price for a
Pricing Date will be that day's Specified Price per gallon of natural gas for
delivery on the Delivery Date, stated in US cents, published under the heading
"Conway In-Well Spot Gas Liquids Prices: N. Gasoline: Any Current Month" in
the issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
15 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
18 © ICE Futures Europe 2017
TTT 16. NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET FUTURE
16
Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol NGE
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS" means that the
price for a Pricing Date will be that day's Specified Price per gallon of natural
gasoline for delivery on the Delivery Date, stated in US cents, published under the
heading "Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Gasoline: Any
Current Month" in the issue of OPIS that reports prices effective on that Pricing
Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
16
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 19
TTT 17. NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET BALMO FUTURE
17
Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LGA-LGZ; LHA-LHE
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS" means that the
price for a Pricing Date will be that day's Specified Price per gallon of natural
gasoline for delivery on the Delivery Date, stated in US cents, published under the
heading "Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Gasoline: Any
Current Month" in the issue of OPIS that reports prices effective on that Pricing
Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
17 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
20 © ICE Futures Europe 2017
TTT 18. NATURAL GASOLINE, OPIS MT. BELVIEU OTHER NON-TET FUTURE
18
Description A monthly cash settled future based upon the average of the daily prices
published by OPIS for the location specified in Reference Price A.
Contract Symbol NBC
Contract Size 1,000 barrels (42,000 gallons)
Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)
Currency US Dollars and cents
Trading Price Quotation One thousandth of one cent ($0.00001) per gallon;
Settlement Price Quotation One thousandth of one cent ($0.00001) per gallon;
Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE A NGL-MONT BELVIEU N. Gasoline (Other Non-TET)-OPIS
a) Description "NGL-MONT BELVIEU N. Gasoline (Other Non-TET)-OPIS" means that the
price for a Pricing Date will be that day's Specified Price per gallon of natural
gasoline for delivery on the Delivery Date, stated in U.S. cents, published
under the heading "Mont Belvieu Spot Gas Liquids Prices: Other N. Gasoline:
Any Current Month" in the issue of OPIS North America LPG Report that
reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
Contract Series Up to 72 consecutive monthly Contract Periods
Final Payment Dates Two Clearing House Business Days following the Last Trading Day
business days Publication days for OPIS
MIC Code IFEU
Clearing Venue ICEU
18 Inserted 12 June 2017
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 21
TTT 19. NATURAL GASOLINE, OPIS MT. BELVIEU TET FUTURE
19
Product Name Natural Gasoline, OPIS Mt. Belvieu TET Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol NGL
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS
a) Description "NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS" means that the price for a
Pricing Date will be that day's Specified Price per gallon of natural gasoline for
delivery on the Delivery Date, stated in US cents, published under the heading
"Mont Belvieu Spot Gas Liquids Prices: TET N. Gasoline: Any Current Month"
or any successor heading, in the issue of OPIS LP Gas Report, or any successor
publication, that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
19
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
22 © ICE Futures Europe 2017
TTT 20. NATURAL GASOLINE, OPIS MT. BELVIEU TET BALMO FUTURE
20
Product Name Natural Gasoline, OPIS Mt. Belvieu TET Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LSS-LTW
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS
a) Description "NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS" means that the price for a
Pricing Date will be that day's Specified Price per gallon of natural gasoline for
delivery on the Delivery Date, stated in US cents, published under the heading
"Mont Belvieu Spot Gas Liquids Prices: TET N. Gasoline: Any Current Month"
or any successor heading, in the issue of OPIS LP Gas Report, or any successor
publication, that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
20 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 23
TTT 21. NORMAL BUTANE, OPIS CONWAY IN-WELL FUTURE
21
Product Name Normal Butane, OPIS Conway In-Well Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol IBC
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-CONWAY N. BUTANE (IN-WELL)-OPIS
a) Description "NGL-CONWAY N. BUTANE (IN-WELL)-OPIS" means that the price for a
Pricing Date will be that day's Specified Price per gallon of normal butane for
delivery on the Delivery Date, stated in US cents, published under the heading
"Conway In-Well Spot Gas Liquids Prices: N. Butane: Any Current Month" in the
issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
21
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
24 © ICE Futures Europe 2017
TTT 22. NORMAL BUTANE, OPIS CONWAY IN-WELL BALMO FUTURE
22
Product Name Normal Butane, OPIS Conway In-Well Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LKK-LLO
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-CONWAY N. BUTANE (IN-WELL)-OPIS
a) Description "NGL-CONWAY N. BUTANE (IN-WELL)-OPIS" means that the price for a
Pricing Date will be that day's Specified Price per gallon of normal butane for
delivery on the Delivery Date, stated in US cents, published under the heading
"Conway In-Well Spot Gas Liquids Prices: N. Butane: Any Current Month" in the
issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
22 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 25
TTT 23. NORMAL BUTANE, OPIS MT. BELVIEU NON-TET FUTURE
23
Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol NBI
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS" means that the price
for a Pricing Date will be that day's Specified Price per gallon of normal butane
for delivery on the Delivery Date, stated in US cents, published under the heading
"Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Butane: Any Current
Month" in the issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
23
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
26 © ICE Futures Europe 2017
TTT 24. NORMAL BUTANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE
24
Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LEA-LEZ; LFA-LFE
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS" means that the price
for a Pricing Date will be that day's Specified Price per gallon of normal butane
for delivery on the Delivery Date, stated in US cents, published under the heading
"Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Butane: Any Current
Month" in the issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
24 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 27
TTT 25. NORMAL BUTANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE
25
Description A monthly cash settled future based upon the average of the daily prices
published by OPIS for the location specified in Reference Price A.
Contract Symbol NBE
Contract Size 1,000 barrels (42,000 gallons)
Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)
Currency US Dollars and cents
Trading Price Quotation One thousandth of one cent ($0.00001) per gallon;
Settlement Price Quotation One thousandth of one cent ($0.00001) per gallon;
Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE A NGL-MONT BELVIEU Normal Butane (Other NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU Normal Butane (Other NON-TET)-OPIS"
means that the price for a Pricing Date will be that day's Specified Price
per gallon of Normal Butane for delivery on the Delivery Date, stated in
U.S. cents, published under the heading "Mont Belvieu Spot Gas Liquids
Prices: Other Non-TET N. Butane: Any Current Month" in the issue of
OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
Contract Series Up to 72 consecutive monthly Contract Periods
Final Payment Dates Two Clearing House Business Days following the Last Trading Day
business days Publication days for OPIS
MIC Code IFEU
Clearing Venue ICEU
25 Inserted 18 September 2017
SECTION TTT PART II D: NATURAL GAS LIQUIDS
28 © ICE Futures Europe 2017
TTT 26. NORMAL BUTANE, OPIS MT. BELVIEU TET FUTURE
26
Product Name Normal Butane, OPIS Mt. Belvieu TET Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol NBR
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS
a) Description "NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS" means
that the price for a Pricing Date will be that day's Specified Price per gallon of
normal butane for delivery on the Delivery Date, stated in US cents, published
under the heading "Mont Belvieu Spot Gas Liquids Prices: TET N. Butane: Any
Current Month" in the issue of OPIS that reports prices effective on that Pricing
Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
26
Amended 02 January 2014, 01 October 2014, 13 October 2014
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 29
TTT 27. NORMAL BUTANE, OPIS MT. BELVIEU TET BALMO FUTURE
27
Product Name Normal Butane, OPIS Mt. Belvieu TET Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LRN-LSR
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS
a) Description "NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS" means
that the price for a Pricing Date will be that day's Specified Price per gallon of
normal butane for delivery on the Delivery Date, stated in US cents, published
under the heading "Mont Belvieu Spot Gas Liquids Prices: TET N. Butane: Any
Current Month" in the issue of OPIS that reports prices effective on that Pricing
Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
27 Amended 01 October 2014, 13 October 2014
SECTION TTT PART II D: NATURAL GAS LIQUIDS
30 © ICE Futures Europe 2017
TTT 28. BUTANE, ARGUS FAR EAST INDEX (AFEI) FUTURE
28
Product Name Butane, Argus Far East Index (AFEI) Future
Contract Description A monthly cash settled future based upon the average of the daily prices
published by Argus International LPG for the location specified in Reference
Price A
Contract Symbol ABF
Settlement Method Cash settlement
Contract Size 1,000 metric tones
Currency US Dollars and cents
Trading Price
Quotation
One cent ($0.01) per metric tone
Settlement Price
Quotation
One tenth of one cent ($0.001) per metric tonne
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG
a) Description "NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG"
means that the price for a Pricing Date will be that day's Specified Price per
tonne of butane, stated in US Dollars, published under the heading "Asia-
Pacific: Argus Far East Index™ (AFEI™): Butane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
28 Inserted 18 November 2013, Amended 02 January 2014 , 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 31
TTT 29. BUTANE, ARGUS FAR EAST INDEX (AFEI) BALMO FUTURE
29
Product Name Butane, Argus Far East Index (AFEI) Balmo Future
Contract Description A balance of month cash settled future based upon the average of the
daily prices published by Argus International LPG for the location
specified in Reference Price A.
Contract Symbol 1PI-1QC
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE A NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL
LPG
a) Description "NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL
LPG" means that the price for a Pricing Date will be that day's Specified
Price per tonne of butane, stated in US Dollars, published under the
heading "Asia-Pacific: Argus Far East Index™ (AFEI™): Butane" in the
issue of Argus International LPG that reports prices effective on that
Pricing Date
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
29
Inserted 6 June 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
32 © ICE Futures Europe 2017
TTT 30. BUTANE, ARGUS FAR EAST INDEX (AFEI) MINI FUTURE
30
Product Name Butane, Argus Far East Index (AFEI) Mini Future
Contract Description A monthly cash settled mini future based upon the average of the daily
prices published by Argus International LPG for the location specified in
Reference Price A.
Contract Symbol BUQ
Settlement Method Cash settlement
Contract Size 100 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
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-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL
LPG
a) Description "NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL
LPG" means that the price for a Pricing Date will be that day's Specified
Price per tonne of butane, stated in US Dollars, published under the
heading "Asia-Pacific: Argus Far East Index™ (AFEI™): Butane" in the
issue of Argus International LPG that reports prices effective on that
Pricing Date
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
30
Inserted 6 June 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 33
TTT 31. BUTANE, ARGUS CIF ARA FUTURE
31
Product Name Butane, Argus CIF ARA Future
Contract Description A monthly cash settled future based upon the average of the daily prices
published by Argus International LPG for the location specified in Reference
Price A
Contract Symbol ABR
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Trading Price
Quotation
One cent ($0.01) per metric tonne
Settlement Price
Quotation
One tenth of one cent ($0.001) per metric tonne
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
a) Description "NGL-BUTANE (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 butane for delivery on the Delivery Date, stated
in US Dollars, published under the heading "Northwest Europe and
Mediterranean: cif ARA (large cargoes): Butane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
31 Inserted 18 November 2013, Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
34 © ICE Futures Europe 2017
TTT 32. BUTANE, ARGUS CIF ARA BALMO FUTURE
32
Product Name Butane, Argus CIF ARA Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the
daily prices published by Argus International LPG for the location
specified in Reference Price A.
Contract Symbol 1ON-1PH
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE A NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
a) Description "NGL-BUTANE (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 butane for delivery on the Delivery
Date, stated in US Dollars, published under the heading "Northwest
Europe and Mediterranean: cif ARA (large cargoes): Butane" in the issue
of Argus International LPG that reports prices effective on that Pricing
Date
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
32
Inserted 6 June 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 35
TTT 33. BUTANE, ARGUS CIF ARA MINI FUTURE
33
Contract Description A monthly cash settled future based upon the average of the daily prices
published by Argus International LPG for the location specified in Reference
Price A.
Contract Symbol ABM
Settlement Method Cash settlement
Contract Size 100 metric tonnes
Currency US Dollars and cents
Trading Price Quotation One cent ($0.01) per metric tonne
Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
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-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
a) Description "NGL-BUTANE (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 butane for delivery on the Delivery Date,
stated in US Dollars, published under the heading "Northwest Europe and
Mediterranean: cif ARA (large cargoes): Butane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
33
Inserted 6 February 2017
SECTION TTT PART II D: NATURAL GAS LIQUIDS
36 © ICE Futures Europe 2017
TTT 34. BUTANE, ARGUS SAUDI CP FUTURE
34
Product Name Butane, Argus Saudi CP Future
Contract Description A cash settled future equal to the price published by Argus International LPG
for the location specified in Reference Price A.
Contract Symbol ABS
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Trading Price
Quotation
One cent ($0.01) per metric tonne
Settlement Price
Quotation
One tenth of one cent ($0.001) per metric tonne
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day prior to the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG
a) Description "NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG"
means that the price for a Pricing Date will be that day's Specified Price per
tonne of butane for delivery on the Delivery Date, stated in US Dollars,
published under the heading "International comparisons: Saudi Aramco:
Butane" in the issue of Argus International LPG that reports prices effective on
that Pricing Date
b) Pricing Date First business day of the contract month
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
34 Inserted 18 November 2013, Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 37
TTT 35. BUTANE, ARGUS SAUDI CP MINI FUTURE
35
Product Name Butane, Argus Saudi CP Mini Future
Contract Description A cash settled mini future equal to the price published by Argus
International LPG for the location specified in Reference Price A.
Contract Symbol BUS
Settlement Method Cash settlement
Contract Size 100 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly Contract Periods
Last Trading Day Last Trading Day prior to the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE A NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG
a) Description "NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL
LPG" means that the price for a Pricing Date will be that day's Specified
Price per tonne of butane for delivery on the Delivery Date, stated in US
Dollars, published under the heading "International comparisons: Saudi
Aramco: Butane" in the issue of Argus International LPG that reports
prices effective on that Pricing Date
b) Pricing Date First business day of the contract month
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
35
Inserted 6 June 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
38 © ICE Futures Europe 2017
TTT 36. BUTANE, ARGUS SONATRACH CP FUTURE
36
Contract Description A cash settled future equal to the price published by Argus International LPG
for the location specified in Reference Price A.
Contract Symbol ABO
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Trading Price Quotation One cent ($0.01) per metric tonne
Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne;
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day prior to the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE A NGL-BUTANE (SONATRACH FOB BETHIOUA)-ARGUS
INTERNATIONAL LPG
a) Description "NGL-BUTANE (SONATRACH FOB BETHIOUA)-ARGUS
INTERNATIONAL LPG " means that the price for a Pricing Date will be
that day's Specified Price per tonne of butane for delivery on the Delivery
Date, stated in US Dollars, published under the heading "International
comparisons: Sonatrach fob Bethioua: Butane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date.
b) Pricing Date First business day of the contract month
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
36 Inserted 6 February 2017
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 39
TTT 37. PROPANE, ARGUS CIF ARA FUTURE
37
Product Name Propane, Argus CIF ARA Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by Argus International LPG for the location specified in Reference Price A.
Contract Symbol APC
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
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 US Dollars, published under the heading "Northwest Europe and
Mediterranean: cif ARA (large cargoes): Propane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
37
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
40 © ICE Futures Europe 2017
TTT 38. PROPANE, ARGUS CIF ARA BALMO FUTURE
38
Product Name Propane, Argus CIF ARA Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by Argus International LPG for the location specified in
Reference Price A.
Contract Symbol LMU-LNY
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
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 US Dollars, published under the heading "Northwest Europe and
Mediterranean: cif ARA (large cargoes): Propane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
38 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 41
TTT 39. PROPANE, ARGUS CIF ARA MINI FUTURE
39
Product Name Propane, Argus CIF ARA Mini Future
Contract Description A monthly cash settled mini future based upon the average of the daily
prices published by Argus International LPG for the location specified in
Reference Price A.
Contract Symbol AFM
Settlement Method Cash settlement
Contract Size 100 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
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-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
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 US Dollars, published under the heading
"Northwest Europe and Mediterranean: cif ARA (large cargoes):
Propane" in the issue of Argus International LPG that reports prices
effective on that Pricing Date
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
39
Inserted 6 June 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
42 © ICE Futures Europe 2017
TTT 40. PROPANE, ARGUS FAR EAST INDEX (AFEI) FUTURE
40
Product Name Propane, Argus Far East Index (AFEI) Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by Argus International LPG for the location specified in Reference Price A.
Contract Symbol AFE
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG
a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG ”
means that the price for a Pricing Date will be that day's Specified Price per tonne
of propane, stated in US Dollars, published under the heading "Asia-Pacific:
Argus Far East Index ™ (AFEI ™): Propane" in the issue of Argus International
LPG that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
40
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 43
TTT 41. PROPANE, ARGUS FAR EAST INDEX (AFEI) BALMO FUTURE
41
Product Name Propane, Argus Far East Index (AFEI) Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by Argus International LPG for the location specified in
Reference Price A.
Contract Symbol LLP-LMT
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG
a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG”
means that the price for a Pricing Date will be that day's Specified Price per tonne
of propane, stated in US Dollars, published under the heading "Asia-Pacific:
Argus Far East Index ™ (AFEI ™): Propane" in the issue of Argus International
LPG that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
41 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
44 © ICE Futures Europe 2017
TTT 42. PROPANE, ARGUS FAR EAST INDEX (AFEI) MINI FUTURE
42
Product Name Propane, Argus Far East Index (AFEI) Mini Future
Contract Description A monthly cash settled mini future based upon the average of the daily
prices published by Argus International LPG for the location specified in
Reference Price A.
Contract Symbol AFL
Settlement Method Cash settlement
Contract Size 100 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
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-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL
LPG
a) Description "NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL
LPG " means that the price for a Pricing Date will be that day's Specified
Price per tonne of propane, stated in US Dollars, published under the
heading "Asia-Pacific: Argus Far East Index™ (AFEI™): Propane" in
the issue of Argus International LPG that reports prices effective on that
Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
42
Inserted 6 June 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 45
TTT 43. PROPANE, ARGUS SAUDI CP FUTURE
43
Product Name Propane, Argus Saudi CP Future
Contract Description A cash settled future equal to the price published by Argus International LPG for
the location specified in Reference Price A.
Contract Symbol SCP
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne;
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day prior to the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-PROPANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG
a) Description "NGL-PROPANE (SAUDI ARAMCO)-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 US Dollars, published
under the heading "International comparisons: Saudi Aramco: Propane" in the
issue of Argus International LPG that reports prices effective on that Pricing Date.
b) Pricing Date First business day of the contract month
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
43 Amended 1 March 2013, Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
46 © ICE Futures Europe 2017
TTT 44. PROPANE, ARGUS SAUDI CP MINI FUTURE
44
Product Name Butane, Argus Saudi CP Mini Future
Contract Description A cash settled mini future equal to the price published by Argus
International LPG for the location specified in Reference Price A.
Contract Symbol AFK
Settlement Method Cash settlement
Contract Size 100 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly Contract Periods
Last Trading Day Last Trading Day prior to the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE A NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG
a) Description "NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL
LPG" means that the price for a Pricing Date will be that day's Specified
Price per tonne of butane for delivery on the Delivery Date, stated in US
Dollars, published under the heading "International comparisons: Saudi
Aramco: Butane" in the issue of Argus International LPG that reports
prices effective on that Pricing Date
b) Pricing Date First business day of the contract month
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
44
Inserted 6 June 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 47
TTT 45. PROPANE, ARGUS SONATRACH CP FUTURE
45
Product Name Propane, Argus Sonatrach CP Future
Contract Description A cash settled future equal to the price published by Argus International
LPG for the location specified in Reference Price A.
Contract Symbol AFS
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day prior to the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE A NGL-PROPANE (SONATRACH FOB BETHIOUA)-ARGUS
INTERNATIONAL LPG
a) Description "NGL-PROPANE (SONATRACH FOB BETHIOUA)-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 US Dollars, published under the heading
"International comparisons: Sonatrach fob Bethioua: Propane" in the
issue of Argus International LPG that reports prices effective on that
Pricing Date.
b) Pricing Date First business day of the contract month
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
45
Inserted 6 June 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
48 © ICE Futures Europe 2017
TTT 46. PROPANE, OPIS CIF ARA TOT CARGOES FUTURE
46
Product Name Propane, OPIS CIF ARA ToT Cargoes Future
Contract Description A monthly cash settled future based upon the average of the daily prices
published by OPIS for the location specified in Reference Price A
Contract Symbol TOT
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
Propane cif ARA (ToT Cargoes)
a) Description "Propane cif ARA (ToT Cargoes)" means that the price for a Pricing Date will be
that day's Specified Price per tonne of propane for delivery on the Delivery Date,
stated in US Dollars, published under the heading "OPIS LPG Settle Prices
($/mt)", subheading "Propane cif ARA (ToT Cargoes)" in the issue of OPIS
Europe LPG & Naphtha Report that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
46 Inserted 29 April 2013, Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 49
TTT 47. PROPANE, OPIS CONWAY IN-WELL FUTURE
47
Product Name Propane, OPIS Conway In-Well Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol PRC
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-CONWAY PROPANE (IN-WELL)-OPIS
a) Description "NGL-CONWAY PROPANE (IN-WELL)-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 US cents, published under the heading "Conway
In-Well Spot Gas Liquids Prices: Propane: Any Current Month" in the issue of
OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
47
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
50 © ICE Futures Europe 2017
TTT 48. PROPANE, OPIS CONWAY IN-WELL BALMO FUTURE
48
Product Name Propane, OPIS Conway In-Well Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LIA-LIZ; LJA-LJE
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-CONWAY PROPANE (IN-WELL)-OPIS
a) Description "NGL-CONWAY PROPANE (IN-WELL)-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 US cents, published under the heading "Conway
In-Well Spot Gas Liquids Prices: Propane: Any Current Month" in the issue of
OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
48 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 51
TTT 49. PROPANE, OPIS HATTIESBURG FUTURE
49
Product Name Propane, OPIS Hattiesburg Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol PRH
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-HATTIESBURG PROPANE (IN-LINE)-OPIS
a) Description "NGL-HATTIESBURG PROPANE (IN-LINE)-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 US cents, published under the heading
"Hattiesburg Spot Gas Liquids Prices: Propane-In-Line: Any Current Month" in
the issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
49
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
52 © ICE Futures Europe 2017
TTT 50. PROPANE, OPIS MT. BELVIEU NON-TET FUTURE
50
Product Name Propane, OPIS Mt. Belvieu Non-TET Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol PRN
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU PROPANE (NON-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 US cents, published under the heading "Mont
Belvieu Spot Gas Liquids Prices: Non-TET Propane: Any Current Month" in the
issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
50
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 53
TTT 51. PROPANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE
51
Product Name Propane, OPIS Mt. Belvieu Non-TET Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LAA-LAZ; LBA-LBE
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU PROPANE (NON-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 US cents, published under the heading "Mont
Belvieu Spot Gas Liquids Prices: Non-TET Propane: Any Current Month" in the
issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
51 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
54 © ICE Futures Europe 2017
TTT 52. PROPANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE
52
Product Name Propane, OPIS Mt. Belvieu Other Non-TET Future
Contract Description A monthly cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference
Price A.
Contract Symbol PBO
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon.
The conversion factor for this contract is 42 gallons = 1 barrel.
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-MONT BELVIEU PROPANE (Other NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU PROPANE (Other NON-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: Other Non-TET Propane: Any Current Month" in the
issue of OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
52 Inserted 14 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 55
TTT 53. PROPANE, OPIS MT. BELVIEU OTHER NON-TET BALMO FUTURE
53
Contract Description A balance of the month cash settled future based upon the average of the
daily prices published by OPIS for the location specified in Reference Price
A.
Contract Symbol 1YZ-1ZT
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon.
The conversion factor for this contract is 42 gallons = 1 barrel
Listing Cycle Up to 2 months of balance-of-month Contract Periods
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU PROPANE (Other NON-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 US cents, published
under the heading "Mont Belvieu Spot Gas Liquids Prices: Other Non-TET
Propane: Any Current Month" in the issue of OPIS that reports prices
effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
53
Inserted 6 February 2017
SECTION TTT PART II D: NATURAL GAS LIQUIDS
56 © ICE Futures Europe 2017
TTT
54. PROPANE, OPIS MT. BELVIEU TET FUTURE54
Product Name Propane, OPIS Mt. Belvieu TET Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol PRL
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU PROPANE (TET)-OPIS
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 US 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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
54
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 57
TTT 55. PROPANE, OPIS MT. BELVIEU TET BALMO FUTURE
55
Product Name Propane, OPIS Mt. Belvieu TET Balmo Future
Contract Description A balance of the month cash settled future based upon the average of the daily
prices published by OPIS for the location specified in Reference Price A.
Contract Symbol LCA-LCZ; LDA-LDE
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU PROPANE (TET)-OPIS
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 US 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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
55 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
58 © ICE Futures Europe 2017
TTT 56. PROPANE, OPIS MT. BELVIEU TET MINI FUTURE
56
Product Name Propane, OPIS Mt. Belvieu TET Mini Future
Contract Description A monthly cash settled future based upon the average of the daily prices published
by OPIS for the location specified in Reference Price A.
Contract Symbol PLM
Settlement Method Cash settlement
Contract Size 100 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of Reference Price A prices
REFERENCE
PRICE A
NGL-MONT BELVIEU PROPANE (TET)-OPIS
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 US 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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
56
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 59
TTT 57. PROPANE, OPIS MT. BELVIEU TET VS PROPANE, ARGUS FAR EAST INDEX (AFEI)
FUTURE57
Product Name Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index
(AFEI) Future
Contract Description A monthly cash settled future based upon the mathematical result of
subtracting the average of the daily prices published by Argus
International LPG 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.
For purposes of determining the Floating Price, the OPIS price will
be converted each day to US Dollars and cents per metric tonne,
rounded to the nearest cent. The conversion factor will be 521 gallons
per metric tonne.
Contract Symbol CEY
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly Contract Periods
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of the Reference Price A prices minus Average of the
Reference Price B prices
REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (TET)-OPIS
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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
REFERENCE PRICE B NGL-PROPANE (FAR EAST INDEX)-ARGUS
INTERNATIONAL LPG
a) Description "NGL-PROPANE (FAR EAST INDEX)-ARGUS
INTERNATIONAL LPG " means that the price for a Pricing Date
will be that day's Specified Price per tonne of propane, stated in U.S.
57 Inserted 14 December 2015, Amended 28 November 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
60 © ICE Futures Europe 2017
TTT Dollars, published under the heading "Asia-Pacific: Refrigerated
cargoes: Argus Far East Index™ (AFEI™): Propane" in the issue of
Argus International LPG that reports prices effective on that Pricing
Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 61
TTT 58. PROPANE, OPIS MT. BELVIEU NON-TET VS PROPANE, ARGUS FAR EAST INDEX
(AFEI) FUTURE58
Product Name Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East
Index (AFEI) Future
Contract Description A monthly cash settled future based upon the mathematical result of
subtracting the average of the daily prices published by Argus
International LPG 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.
For purposes of determining the Floating Price, the OPIS price will
be converted each day to US Dollars and cents per metric tonne,
rounded to the nearest cent. The conversion factor will be 521 gallons
per metric tonne.
Contract Symbol CEZ
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly Contract Periods
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of the Reference Price A prices minus Average of the
Reference Price B prices
REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU PROPANE (NON-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: Non-TET Propane: Any Current Month" in the issue of OPIS
that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
REFERENCE PRICE B NGL-PROPANE (FAR EAST INDEX)-ARGUS
INTERNATIONAL LPG
a) Description "NGL-PROPANE (FAR EAST INDEX)-ARGUS
INTERNATIONAL LPG " means that the price for a Pricing Date
will be that day's Specified Price per tonne of propane, stated in U.S.
Dollars, published under the heading "Asia-Pacific: Refrigerated
58
Inserted 14 December 2015, Amended 28 November 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
62 © ICE Futures Europe 2017
TTT cargoes: Argus Far East Index™ (AFEI™): Propane" in the issue of
Argus International LPG that reports prices effective on that Pricing
Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 63
TTT 59. PROPANE, OPIS MT. BELVIEU TET VS PROPANE, ARGUS CIF ARA FUTURE
59
Contract Description A monthly cash settled future based upon the mathematical result of
subtracting the average of the daily prices published by Argus International
LPG 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.
For purposes of determining the Floating Price, the OPIS price will be
converted each day to US dollars and cents per metric tonne, rounded to the
nearest cent. The conversion factor will be 521 gallons per metric tonne.
Contract Symbol CEK
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly Contract Periods
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of the Reference Price A prices minus Average of the Reference
Price B prices
REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (TET)-OPIS
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 US 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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar OPIS
e) Delivery Date Contract month
REFERENCE PRICE B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
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 US Dollars, published under the heading "Northwest Europe and
Mediterranean: cif ARA (large cargoes): Propane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
59
Inserted 6 February 2017
SECTION TTT PART II D: NATURAL GAS LIQUIDS
64 © ICE Futures Europe 2017
TTT d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
MIC Code IFEU
Clearing Venue ICEU
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 65
TTT 60. PROPANE, OPIS MT. BELVIEU NON-TET VS PROPANE, ARGUS CIF ARA FUTURE
60
Contract Description A monthly cash settled future based upon the mathematical result of
subtracting the average of the daily prices published by Argus International
LPG 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.
For purposes of determining the Floating Price, the OPIS price will be
converted each day to US Dollars and cents per metric tonne, rounded to the
nearest cent. The conversion factor will be 521 gallons per metric tonne.
Contract Symbol CEJ
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly Contract Periods
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of the Reference Price A prices minus Average of the Reference
Price B prices
REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU PROPANE (NON-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 US cents, published
under the heading "Mont Belvieu Spot Gas Liquids Prices: Non-TET
Propane: Any Current Month" in the issue of OPIS that reports prices
effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar OPIS
e) Delivery Date Contract month
REFERENCE PRICE B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
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 US Dollars, published under the heading "Northwest Europe and
Mediterranean: cif ARA (large cargoes): Propane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
60
Inserted 6 February 2017
SECTION TTT PART II D: NATURAL GAS LIQUIDS
66 © ICE Futures Europe 2017
TTT d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 67
TTT 61. NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET VS WTI 1ST LINE FUTURE
61
Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET vs WTI 1st Line Future
Contract Description A monthly cash settled future 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.
Contract Symbol NGW
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per barrel;
The conversion factor for this contract is 42 gallons = 1 barrel.
Contract Series Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of the Reference Price A prices minus Average of the Reference Price B
prices
REFERENCE
PRICE A
NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS" means that the
price for a Pricing Date will be that day's Specified Price per gallon of natural
gasoline for delivery on the Delivery Date, stated in US cents, published under the
heading "Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Gasoline: Any
Current Month" in the issue of OPIS that reports prices effective on that Pricing
Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Reference Price B OIL-WTI-NYMEX
a) 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 US Dollars, as made public by the NYMEX on that
Pricing Date.
b) Pricing Date Each trading day of the NYMEX Light Sweet Crude Oil Futures Contract during
the Contract month
c) Specified Price Settlement price
d) Pricing calendar NYMEX
e) Delivery Date First Nearby Month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
61
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
68 © ICE Futures Europe 2017
TTT 62. NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET VS NAPHTHA CIF NWE
CARGOES (PLATTS) FUTURE62
Description A monthly cash settled future based on the difference between the OPIS
daily assessment price for Mt. Belvieu Non-TET Natural Gasoline and the
Platts daily assessment price for Naphtha CIF NWE Cargoes.
Contract Symbol GCY
Contract Size 1,000 barrels (42,000 gallons)
Unit of Trading Any multiple of 1,000 barrels
Currency US Dollars and cents
Trading Price Quotation One hundredth of one cent (¢0.01) per gallon
Settlement Price Quotation One thousandth of one cent (¢0.001) per gallon
Minimum Price Fluctuation One thousandth of one cent (¢0.001) per gallon
Last Trading Day Last Trading Day of the contract month
Floating Price In respect of daily settlement, the Floating Price will be determined by
ICE using price data from a number of sources including spot, forward
and derivative markets for both physical and financial products.
Final Settlement Price In respect of final settlement, the Floating Price will be a price in USD
and cents per gallon based on the difference between the average of the
“Avg” quotations appearing in the “OPIS North America LPG Report”
under the heading “OPIS Mont Belvieu Spot Gas Liquids Prices (cts/gal)”
subheading “Any Current Month” for “Non-TET N. Gasoline” and the
average of the “Mid” quotations appearing in the “Platts European
Marketscan” under the heading “Northwest Europe cargoes” subheading
“CIF NWE/Basis ARA” for “Naphtha” for each business day (as
specified below) in the determination period.
Non-Common Pricing applies.
conversion factor: 1 metric tonne = 373.8 gallons (for Naphtha)
Contract Series Up to 48 consecutive months
Final Payment Dates Two Clearing House Business Days following the Last Trading Day
business days Publication days for OPIS North America LPG Report and Platts
European Marketscan
MIC Code IFEU
Clearing Venue ICEU
62
Inserted 22 August 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 69
TTT 63. NGL BASKET, OPIS MT. BELVIEU NON-TET FUTURE
63
Contract Description A monthly cash settled future based upon the barrel components average of
the daily prices published by OPIS for the locations specified in Reference
Price A.
Contract Symbol NGB
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency US Dollars and cents
Trading Price Quotation One cent ($0.01) per barrel
Settlement Price Quotation One tenth of one cent ($0.001) per barrel
Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel
The conversion factor for this contract is 42 gallons = 1 barrel
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 42% NGL-MONT BELVIEU Ethane (NON-TET)-OPIS; 28% NGL-MONT
BELVIEU Propane (NON-TET)-OPIS; 11% NGL-MONT BELVIEU
Normal Butane (NON-TET)-OPIS; 6% NGL MONT BELVIEU Isobutane
(NON-TET)-OPIS; 13% MONT BELVIEU Natural Gasoline (NON-TET)-
OPIS
a) Description "42% NGL-MONT BELVIEU Ethane (NON-TET )-OPIS; 28% NGL-
MONT BELVIEU Propane (NON-TET)-OPIS; 11% NGL-MONT
BELVIEU Normal Butane (NON-TET)-OPIS; 6% NGL MONT BELVIEU
Isobutane (NON-TET)-OPIS; 13% MONT BELVIEU Natural Gasoline
(NON-TET)-OPIS” means that the price for a Pricing Date will be that day's
Specified Price per gallon of each listed component multiplied by the
percentage of the barrel for delivery on the Delivery Date, stated in US
cents, published under the heading "Mont Belvieu Spot Gas Liquids Prices:
Non-TET Ethane/Propane/Normal Butane/Isobutane/Natural Gasoline: Any
Current Month" in the issue of OPIS that reports prices effective on that
Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar OPIS
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
63
Inserted 13 March 2017
SECTION TTT PART II D: NATURAL GAS LIQUIDS
70 © ICE Futures Europe 2017
TTT 64. PROPANE, ARGUS CIF ARA VS NAPHTHA CIF NWE CARGOES (PLATTS) FUTURE
64
Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Future
Contract Description A monthly cash settled future 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.
Contract Symbol APN
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne.
Contract Series Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
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) 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 US Dollars, published under the heading "Northwest Europe and
Mediterranean: cif ARA (large cargoes): Propane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Reference Price B NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS
EUROPEAN MARKETSCAN
a) 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 US 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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Platts European Marketscan
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
64 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 71
TTT 65. PROPANE, ARGUS CIF ARA VS NAPHTHA CIF NWE CARGOES (PLATTS) BALMO
FUTURE65
Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts)
Balmo Future
Contract Description A balance of the month cash settled future 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.
Contract Symbol 1HR-1IL
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 2 months of balance-of-month Contract Periods
Last Trading Day Last Trading Day of the contract month
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) 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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
REFERENCE PRICE B NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-
PLATTS EUROPEAN MARKETSCAN
a) 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 European cargoes: CIF NWE/Basis ARA: Naphtha" in
65 Inserted 14 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
72 © ICE Futures Europe 2017
TTT the issue of Platts European Marketscan that reports prices effective
on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Platts European Marketscan
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 73
TTT 66. PROPANE, ARGUS FAR EAST INDEX (AFEI) VS NAPHTHA C+F JAPAN CARGOES
(PLATTS) FUTURE66
Product Name Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan
Cargoes (Platts) Future
Contract Description A monthly cash settled future based upon the mathematical result of
subtracting the average of the daily prices published by Platts Asia-
Pacific/Arab Gulf 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.
Contract Symbol ARR
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 72 consecutive monthly Contract Periods
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of the Reference Price A prices minus Average of the
Reference Price B prices
REFERENCE PRICE A NGL-PROPANE (FAR EAST INDEX)-ARGUS
INTERNATIONAL LPG
a) Description "NGL-PROPANE (FAR EAST INDEX)-ARGUS
INTERNATIONAL LPG " means that the price for a Pricing Date
will be that day's Specified Price per tonne of propane, stated in U.S.
Dollars, published under the heading "Asia-Pacific: Refrigerated
cargoes: Argus Far East Index™ (AFEI™): Propane" in the issue of
Argus International LPG that reports prices effective on that Pricing
Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
REFERENCE PRICE B NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-
PLATTS ASIA-PACIFIC/ARAB GULF MARKETSCAN
a) Description "NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-
PLATTS ASIA-PACIFIC/ARAB GULF MARKETSCAN" means
that the price for a Pricing Date will be that day's Specified Price per
metric tonne of naphtha, stated in U.S. Dollars, published under the
heading "Japan physical oil assessments: C+F Japan ($/mt):
Naphtha" in the issue of Platts Asia-Pacific/Arab Gulf Marketscan
66 Inserted 14 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
74 © ICE Futures Europe 2017
TTT that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Platts Asia-Pacific/Arab Gulf Marketscan
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 75
TTT 67. PROPANE, ARGUS FAR EAST INDEX (AFEI) VS NAPHTHA C+F JAPAN CARGOES
(PLATTS) BALMO FUTURE67
Product Name Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan
Cargoes (Platts) Balmo Future
Contract Description A balance of the month cash settled future based upon the
mathematical result of subtracting the average of the daily prices
published by Platts Asia-Pacific/Arab Gulf 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.
Contract Symbol 1GW-1HQ
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Listing Cycle Up to 2 months of balance-of-month Contract Periods
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of the Reference Price A prices minus Average of the
Reference Price B prices
REFERENCE PRICE A NGL-PROPANE (FAR EAST INDEX)-ARGUS
INTERNATIONAL LPG
a) Description "NGL-PROPANE (FAR EAST INDEX)-ARGUS
INTERNATIONAL LPG " means that the price for a Pricing Date
will be that day's Specified Price per tonne of propane, stated in U.S.
Dollars, published under the heading "Asia-Pacific: Refrigerated
cargoes: Argus Far East Index™ (AFEI™): Propane" in the issue of
Argus International LPG that reports prices effective on that Pricing
Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
REFERENCE PRICE B NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-
PLATTS ASIA-PACIFIC/ARAB GULF MARKETSCAN
a) Description "NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-
PLATTS ASIA-PACIFIC/ARAB GULF MARKETSCAN" means
that the price for a Pricing Date will be that day's Specified Price per
metric tonne of naphtha, stated in U.S. Dollars, published under the
heading " Japan physical oil assessments: C+F Japan ($/mt):
67
Inserted 14 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
76 © ICE Futures Europe 2017
TTT Naphtha" in the issue of Platts Asia-Pacific/Arab Gulf Marketscan
that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Platts Asia-Pacific/Arab Gulf Marketscan
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
MIC Code IFEU
Clearing Venue ICEU
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 77
TTT 68. PROPANE, ARGUS FAR EAST INDEX (AFEI) VS PROPANE, ARGUS CIF ARA FUTURE
68
Product Name Propane, Argus Far East Index (AFEI) vs. Propane, Argus CIF ARA Future
Contract Description A monthly cash settled future based upon the mathematical result of subtracting
the average of the daily prices published by Argus International LPG 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.
Contract Symbol EGD
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne.
Contract Series Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of the Reference Price A prices minus Average of the Reference Price B
prices
REFERENCE
PRICE A
NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG
a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG”
means that the price for a Pricing Date will be that day's Specified Price per tonne
of propane, stated in US Dollars, published under the heading "Asia-Pacific:
Argus Far East Index ™ (AFEI ™): Propane" in the issue of Argus International
LPG that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
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 US Dollars, published under the heading "Northwest Europe and
Mediterranean: cif ARA (large cargoes): Propane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
68
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
78 © ICE Futures Europe 2017
TTT 69. PROPANE, ARGUS FAR EAST INDEX (AFEI) VS PROPANE, ARGUS CIF ARA BALMO
FUTURE69
Product Name Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Balmo
Future
Contract Description A balance of the month cash settled future based upon the mathematical result of
subtracting the average of the daily prices published by Argus International LPG
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.
Contract Symbol VRD-VSH
Settlement Method Cash settlement
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne.
Contract Series Up to 2 months of balance-of-month contract months
Last Trading Day Last Trading Day of the contract month
Final Settlement Average of the Reference Price A prices minus Average of the Reference Price B
prices
REFERENCE
PRICE A
NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG
a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG”
means that the price for a Pricing Date will be that day's Specified Price per tonne
of propane, stated in US Dollars, published under the heading "Asia-Pacific:
Argus Far East Index ™ (AFEI ™): Propane" in the issue of Argus International
LPG that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
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 US Dollars, published under the heading "Northwest Europe and
Mediterranean: cif ARA (large cargoes): Propane" in the issue of Argus
International LPG that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Final Payment Date Two Clearing House Business Days following the Last Trading Day
69 Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 79
TTT 70. ETHANE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION
70
Product Name Ethane, OPIS Mt. Belvieu Non-TET Average Price Option
Contract Description A monthly Average Price Option on the corresponding Contract month of the
Ethane, OPIS Mt. Belvieu Non-TET Future.
Contract Symbol ETE
Settlement Method Exercise into Underlying Futures Contract
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Contract Series Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Option Style Average Price
Exercise Method Automatic Only
Exercise Procedure Manual exercise or abandon is not permitted
Exercise Day The Second Business Day following the Last Trading Day
Automatic Exercise
Provisions
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.
REFERENCE PRICE
A
NGL-MONT BELVIEU PURITY ETHANE-OPIS
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 US 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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Strike Pricing Listing
Provisions
A minimum of 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 $0.0001 increments.
70
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
80 © ICE Futures Europe 2017
TTT 71. NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION
71
Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Average Price Option
Contract Description A monthly Average Price Option on the corresponding Contract month of the
Natural Gasoline, OPIS Mt. Belvieu Non-TET Future.
Contract Symbol NGE
Settlement Method Exercise into Underlying Futures Contract
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Contract Series Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Option Style Average Price
Exercise Method Automatic Only
Exercise Procedure Manual exercise or abandon is not permitted
Exercise Day The Second Business Day following the Last Trading Day
Automatic Exercise
Provisions
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.
REFERENCE PRICE
A
NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS" means that the
price for a Pricing Date will be that day's Specified Price per gallon of natural
gasoline for delivery on the Delivery Date, stated in US cents, published under
the heading "Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Gasoline: Any
Current Month" in the issue of OPIS that reports prices effective on that Pricing
Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Strike Pricing Listing
Provisions
A minimum of 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 $0.0001 increments.
71
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 81
TTT 72. NORMAL BUTANE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION
72
Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Option
Contract Description A monthly Average Price Option on the corresponding Contract month of the
Normal Butane, OPIS Mt. Belvieu Non-TET Future.
Contract Symbol NBI
Settlement Method Exercise into Underlying Futures Contract
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Contract Series Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Option Style Average Price
Exercise Method Automatic Only
Exercise Procedure Manual exercise or abandon is not permitted
Exercise Day The Second Business Day following the Last Trading Day
Automatic Exercise
Provisions
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.
REFERENCE PRICE
A
NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS
a) Description "NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS" means that the price
for a Pricing Date will be that day's Specified Price per gallon of normal butane
for delivery on the Delivery Date, stated in US cents, published under the heading
"Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Butane: Any Current
Month" in the issue of OPIS that reports prices effective on that Pricing Date
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Strike Pricing Listing
Provisions
A minimum of 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 $0.0001 increments.
72
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
82 © ICE Futures Europe 2017
TTT 73. PROPANE, OPIS CONWAY IN-WELL AVERAGE PRICE OPTION
73
Product Name Propane, OPIS Conway In-Well Average Price Option
Contract Description A monthly Average Price Option on the corresponding Contract month of the
Propane, OPIS Conway In-Well Future.
Contract Symbol PRC
Settlement Method Exercise into Underlying Futures Contract
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Contract Series Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Option Style Average Price
Exercise Method Automatic Only
Exercise Procedure Manual exercise or abandon is not permitted
Exercise Day The Second Business Day following the Last Trading Day
Automatic Exercise
Provisions
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.
REFERENCE PRICE
A
NGL-CONWAY PROPANE (IN-WELL)-OPIS
a) Description "NGL-CONWAY PROPANE (IN-WELL)-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 US cents, published under the heading "Conway
In-Well Spot Gas Liquids Prices: Propane: Any Current Month" in the issue of
OPIS that reports prices effective on that Pricing Date.
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Strike Pricing Listing
Provisions
A minimum of 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 $0.0001 increments.
73
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 83
TTT 74. PROPANE, OPIS MT. BELVIEU TET AVERAGE PRICE OPTION
74
Product Name Propane, OPIS Mt. Belvieu TET Average Price Option
Contract Description A monthly Average Price Option on the corresponding Contract month of the
Propane, OPIS Mt. Belvieu TET Future.
Contract Symbol PRL
Settlement Method Exercise into Underlying Futures Contract
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Contract Series Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Option Style Average Price
Exercise Method Automatic Only
Exercise Procedure Manual exercise or abandon is not permitted
Exercise Day The Second Business Day following the Last Trading Day
Automatic Exercise
Provisions
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.
REFERENCE PRICE
A
NGL-MONT BELVIEU PROPANE (TET)-OPIS
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 US 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) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Strike Pricing Listing
Provisions
A minimum of 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 $0.0001 increments.
74
Amended 02 January 2014, 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
84 © ICE Futures Europe 2017
TTT 75. ETHANE IN E/P MIX, OPIS CONWAY IN-WELL AVERAGE PRICE OPTION
75
Product Name Ethane in E/P Mix, OPIS Conway In-Well Average Price Option
Contract
Description
A monthly Average Price Option on the corresponding Contract month of the
Ethane in E/P Mix, OPIS Conway In-Well Future
Contract Symbol ECC
Settlement Method Exercise into Underlying Futures Contract
Contract Size 1,000 barrels
Currency US Dollars and cents
Minimum Price
Fluctuation
One thousandth of one cent ($0.00001) per gallon;
The conversion factor for this contract is 42 gallons = 1 barrel.
Contract Series Up to 72 consecutive monthly contract months
Last Trading Day Last Trading Day of the contract month
Option Style Average Price
Exercise Method Automatic Only
Exercise Procedure Manual exercise or abandon is not permitted
Exercise Day The Second Business Day following the Last Trading Day
Automatic Exercise
Provisions
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
REFERENCE
PRICE A
NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS
a) Description "NGL-CONWAY ETHANE IN E-P (IN-WELL)-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 US cents, published under the heading "Conway
In-Well Spot Gas Liquids Prices: Ethane (in E-P): Any Current Month " in the
issue of OPIS that reports prices effective on that Pricing Date
b) Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Average
d) Pricing calendar OPIS
e) Delivery Date Contract month
Strike Pricing
Listing Provisions
A minimum of 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 $0.0001 increments
75 Inserted 12 May 2014, Amended 1 December 2015
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 85
TTT 76. PROPANE, ARGUS CIF ARA AVERAGE PRICE OPTION
76
Contract Description A monthly Average Price Option on the corresponding Contract month
of the Propane, Argus CIF ARA Future
Contract Symbol APC
Settlement Method Exercise into Underlying Futures Contract
Contract Size 1,000 metric tonnes
Currency US Dollars and cents
Minimum Price
Fluctuation
One tenth of one cent ($0.001) per metric tonne
Contract Series Up to 72 consecutive monthly Contract Periods
Last Trading Day Last Trading Day of the contract month
Option Style Average Price
Exercise Method Automatic Only
Exercise Procedure Manual exercise or abandon is not permitted
Exercise Day The Second Business Day following the Last Trading Day
Automatic Exercise
Provisions
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.
REFERENCE PRICE
A
NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS
INTERNATIONAL LPG
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 US Dollars, published under the heading
"Northwest Europe and Mediterranean: cif ARA (large cargoes):
Propane" in the issue of Argus International LPG that reports prices
effective on that Pricing Date
b) -Pricing Date Each day that prices are reported for the Delivery Date
c) Specified Price Price
d) Pricing calendar Argus International LPG
e) Delivery Date Contract month
Strike Pricing Listing
Provisions
A minimum of a ten Strike Prices in increments of $0.50 per metric
tonne 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 $0.01 increments.
76 Inserted 22 September 2014
SECTION TTT PART II D: NATURAL GAS LIQUIDS
86 © ICE Futures Europe 2017
TTT 77. PROPANE, ARGUS FAR EAST INDEX (AFEI) AVERAGE PRICE OPTION
77
Product Name Propane, Argus Far East Index (AFEI) Average Price Option
Contract Description A monthly Average Price Option on the corresponding Contract month
of the Propane, Argus Far East Index (AFEI) Future.
Contract Symbol AFE
Settlement Method Exercise into Underlying Futures Contract
Contract Size 1,000 mt
Currency US Dollars and cents
Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne
Contract Series Up to 72 consecutive monthly Contract Periods
Last Trading Day Last Trading Day of the contract month
Option Style Average Price
Exercise Method Automatic Only
Exercise Procedure Manual exercise or abandon is not permitted
Exercise Day The Second Business Day following the Last Trading Day
Automatic Exercise
Provisions
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.
REFERENCE PRICE A NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL
LPG
a) Ref Price A -Description "NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL
LPG " means that the price for a Pricing Date will be that day's
Specified Price per tonne of propane, stated in US Dollars, published
under the heading "Asia-Pacific: Argus Far East Index™ (AFEI™):
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 month
Strike Pricing Listing
Provisions
A minimum of ten Strike Prices in increments of $0.50 per metric
tonne 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 $0.01 increments.
MIC Code IFEU
Clearing Venue ICEU
77
Inserted 04 April 2016
SECTION TTT PART II D: NATURAL GAS LIQUIDS
© ICE Futures Europe 2017 87
TTT
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