- Trading Screen Product Name
- Propane Argus Futures
- Trading Screen Hub Name
- CIF ARA
- 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 Procedure
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-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
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
- IFED
- Clearing Venues
- ICEU