Propane, Argus CIF ARA Average Price Option37042690

Description

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

Market Specifications

Trading Screen Product Name
Propane Argus Futures
Trading Screen Hub Name
CIF ARA
Commodity Code
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) Ref Price 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 "Europe: cif ARA (large cargoes): 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
Average Price
d) Ref Price A - Pricing calendar
Argus International LPG
e) Ref Price A - Delivery Date
Contract month
Strike Price 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.
MIC Code
IFEU
Clearing Venues
ICEU
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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

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

Codes

Clearing Admin Name
NGL Master
Physical
APC
Logical
APC
GMI(FC)
A6
R&N A.C.N.
SN16