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ICE Futures U.S.

Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo Future

Description

A balance of the month cash settled future based upon the mathematical result of subtracting the average of the daily prices published by Platts European 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 (balmo)
Trading Screen Hub Name
CIF ARA/Naphtha CIF NWE Cg
Contract Symbol
ABG
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 2 months of balance-of-month 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 (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 U.S. 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
Price
d) Ref Price A - Pricing calendar
Argus International LPG
e) Ref Price A - Delivery Date
Contract month
REFERENCE PRICE B
NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS EUROPEAN MARKETSCAN
a) Ref Price B - Description
"NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS EUROPEAN 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 "Northwest European cargoes: CIF NWE/Basis ARA: Naphtha" in the issue of Platts European 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
ABG
Logical
ABG
GMI (FC)
M1
ION A.C.N.
Symbol Code
ABG