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Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) Future53168960
ICE Futures U.S.

Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) Future

Description

A monthly cash settled future based upon the mathematical result of subtracting the average of the daily prices published by Platts Asia-Pacific/Arab Gulf Marketscan for the location specified in Reference Price B from 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/Naphtha Diff Futures
Trading Screen Hub Name
Far East/Naphtha C&F Japan
Contract Symbol
ARR
Settlement Method
Cash settlement
Contract Size
1,000 metric tonnes
Currency
US Dollars and cents
Minimum Price Fluctuation
One tenth of one cent ($0.001) per metric tonne
Listing Cycle
Up to 72 consecutive monthly Contract Periods
Last Trading Day
Last Trading Day of the contract month
Final Settlement
The average of the Reference Price A prices minus the average of the Reference Price B prices. Non-common pricing applies.
REFERENCE PRICE A
NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG
a) Ref Price A - Description
"NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG " means that the price for a Pricing Date will be that day's Specified Price per tonne of propane, stated in U.S. Dollars, published under the heading "Asia-Pacific: Refrigerated cargoes: Argus Far East Index™ (AFEI™): Propane" in the issue of Argus International LPG that reports prices effective on that Pricing Date.
b) Ref Price A - Pricing Date
Each day that prices are reported for the Delivery Date
c) Ref Price A - Specified Price
Price
d) Ref Price A - Pricing calendar
Argus International LPG
e) Ref Price A - Delivery Date
Contract month
REFERENCE PRICE B
NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-PLATTS ASIA-PACIFIC/ARAB GULF MARKETSCAN
a) Ref Price B - Description
"NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-PLATTS ASIA-PACIFIC/ARAB GULF MARKETSCAN" means that the price for a Pricing Date will be that day's Specified Price per metric tonne of naphtha, stated in U.S. Dollars, published under the heading "Japan physical oil assessments: C+F Japan ($/mt): Naphtha" in the issue of Platts Asia-Pacific/Arab Gulf Marketscan that reports prices effective on that Pricing Date.
b) Ref Price B - Pricing Date
Each day that prices are reported for the Delivery Date
c) Ref Price B - Specified Price
Price
d) Ref Price B - Pricing Calendar
Platts Asia-Pacific/Arab Gulf Marketscan
e) Ref Price B - Delivery Date
Contract month
Final Payment Date
Two Clearing House Business Days 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
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

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

Codes

Clearing Admin Name
NGL Master
Physical
ARR
Logical
ARR
GMI (FC)
6T
Symbol Code
ARR