ICE Ethane, OPIS Mt. Belvieu Non-TET
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.
| Ethane, OPIS Mt. Belvieu Non-TET Futures | |||
|---|---|---|---|
| Trading Screen Product Name | Ethane OPIS Futures | ||
| Trading Screen Hub Name | MT.B-ENT | ||
| Contract Symbol | ETE | ||
| Settlement Method | Cash settlement | ||
| Contract Size | 1,000 barrels | ||
| Currency | USD | ||
| Minimum Price Fluctuation | One thousandth of a 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 PURITY ETHANE-OPIS | ||
| a) Ref Price 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 U.S. 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) 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 5:10 PM ET; Closed on Saturday | |||
| Codes | Clearing Admin Name | NGL Master | |
| Physical | ETE | ||
| Logical | ETE | ||
| GMI (FC) | ET | ||
| ION A.C.N. | QJ67 | ||
| Ethane, OPIS Mt. Belvieu Non-TET Average Price Options | |||
|---|---|---|---|
| Trading Screen Product Name | Ethane OPIS Futures | ||
| Trading Screen Hub Name | MT.B-ENT | ||
| Contract Symbol | ETE | ||
| 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 | Last Trading Day of the contract month | ||
| 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 PURITY ETHANE-OPIS | ||
| a) Ref Price 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 U.S. 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) 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 5:40 PM ET; Closed on Saturday | |||
| Codes | Clearing Admin Name | NGL Master | |
| Physical | ETE | ||
| Logical | ETE | ||
| GMI (FC) | ET | ||
| ION A.C.N. | QJ67 | ||
Notes[edit]
References[edit]
Resources[edit]
ICE ERCOT North 345KV Real-Time Peak Daily Fixed Price Product Spec
ICE Ethane, OPIS Mt. Belvieu Non-TET Average Price Options Product Spec