ICE Normal Butane, OPIS Mt. Belvieu Non-TET

From MarketsWiki
Jump to navigation Jump to search


RSM Banner 400x90.gif


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

Normal Butane, OPIS Mt. Belvieu Non-TET Future
Trading Screen Product Name Normal Butane OPIS Futures
Trading Screen Hub Name MT.B-ENT
Contract Symbol NBI
Settlement Method Cash settlement
Contract Size 1,000 barrels
Currency USD
Minimum Price Fluctuation The price quotation convention shall be One thousandth of a cent ($0.00001) per gallon; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. The conversion factor for this contract is 42 gallons = 1 barrel.
Listing Cycle Up to 72 consecutive monthly Contract Periods
Last Trading Day The last Business Day of the Contract Period
Final Settlement Average of Reference Price A Prices
REFERENCE PRICE A NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS
a) Ref Price 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 U.S. 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) Ref Price A - Pricing Date Each day that prices are reported for the Delivery Date
c) Ref Price A - Specified Price Average
d) Ref Price A - Pricing calendar OPIS
e) Ref Price A - Delivery Date Contract Period
Final Payment Date The second Clearing Organization business day following the Last Trading Day
MIC Code IFED
Clearing Venues ICEU
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 7:50 PM - 6:00 PM*

19:50 - 18:00

7:40 PM

19:40

LONDON 12:50 AM - 11:00 PM*

00:50 - 23:00

12:40 AM

00:40

SINGAPORE 8:50 AM - 7:00 AM*

08:50 - 07:00

8:40 AM

08:40

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes Clearing Admin Name NGL Master
Physical NBI
Logical NBI
GMI (FC) ZD
ION A.C.N. QM94
Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Options
Trading Screen Product Name Normal Butane OPIS Futures
Trading Screen Hub Name MT.B-ENT
Contract Symbol NBI
Settlement Method Exercise into Underlying Futures Contract
Contract Size 1,000 barrels
Currency USD
Minimum Price Fluctuation The price quotation convention shall be One thousandth of a cent ($0.00001) per gallon; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. The conversion factor for this contract is 42 gallons = 1 barrel.
Contract Series Up to 72 consecutive monthly Contract Periods
Last Trading Day At the end of the Trading Session on the last Business Day of the Contract Period
Option Style Average Price
Exercise Automatic Only

Manual exercise or abandon is not permitted

Options which are "in the money", with respect to the average of the Reference Price A prices, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike Price. Options which are "out of the money"" expire automatically.

Exercise Day is the Second Business Day following the Last Trading Day

REFERENCE PRICE A NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS
a) Ref Price 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 U.S. 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) Ref Price A - Pricing Date Each day that prices are reported for the Delivery Date
c) Ref Price A - Specified Price Average
d) Ref Price A - Pricing calendar OPIS
e) Ref Price A - Delivery Date Contract Period
Strike Price Listing Provisions A minimum of a ten Strike Prices in increments of $0.10 per gallon above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in a $0.0001 increments.
MIC Code IFED
Clearing Venues ICEU
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 7:50 PM - 6:00 PM*

19:50 - 18:00

7:40 PM

19:40

LONDON 12:50 AM - 11:00 PM*

00:50 - 23:00

12:40 AM

00:40

SINGAPORE 8:50 AM - 7:00 AM*

08:50 - 07:00

8:40 AM

08:40

*Next Day

Sunday Pre-Open 5:10 PM ET; Closed on Saturday

Codes Clearing Admin Name NGL Master
Physical NBI
Logical NBI
GMI (FC) ZD
ION A.C.N. QM94

Notes[edit]

References[edit]

Resources[edit]

ICE Henry Penultimate Fixed Price Product Spec

ICE Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Options Product Spec