ICE Futures U.S.

Ethane in E/P Mix, OPIS Conway in-Well Average Price Option

Ethane in E/P Mix, OPIS Conway in-Well Average Price Option31687039

Description

A monthly Average Price Option on the corresponding Contract month of the Ethane in E/P Mix, OPIS Conway In-Well, Fixed Price Future

Market Specifications

Trading Screen Product Name
EP OPIS Futures
Trading Screen Hub Name
Conway
Commodity Code
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.
Listing Cycle
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) Ref Price 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 U.S. 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) 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

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 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
ECC
Logical
ECC
GMI(FC)
R&N A.C.N.