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Natural Gasoline, OPIS Mt. Belvieu Non-TET vs Naphtha CIF NWE Cargoes (Platts) Future59293833

ICE Futures U.S.

Natural Gasoline, OPIS Mt. Belvieu Non-TET vs Naphtha CIF NWE Cargoes (Platts) Future

Description

A monthly cash settled future based on the difference between the OPIS daily assessment price for Mt. Belvieu Non-TET Natural Gasoline and the Platts daily assessment price for Naphtha CIF NWE Cargoes.

Market Specifications

Trading Screen Product Name
Natgaso OPIS/Naphtha Diff Futures
Trading Screen Hub Name
MT.B-ENT/Naphtha CIF NWE Cg (Platts)
Contract Symbol
GCY
Contract Size
1,000 barrels (42,000 gallons)
Unit of Trading
Any multiple of 1,000 barrels
Currency
US Dollars and cents
Trading Price Quotation
One hundredth of one cent (¢0.01) per gallon
Settlement Price Quotation
One thousandth of one cent (¢0.001) per gallon
Minimum Price Fluctuation
One thousandth of one cent (¢0.001) per gallon
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per gallon based on the difference between the average of the “Avg” quotations appearing in the “OPIS North America LPG Report” under the heading “OPIS Mont Belvieu Spot Gas Liquids Prices (cts/gal)” subheading “Any Current Month” for “Non-TET N. Gasoline” and the average of the “Mid” quotations appearing in the “Platts European Marketscan” under the heading “Northwest Europe cargoes” subheading “CIF NWE/Basis ARA” for “Naphtha” for each business day (as specified below) in the determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 373.8 gallons (for Naphtha)
Contract Series
Up to 48 consecutive months
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for OPIS North America LPG Report and Platts European Marketscan
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

Sunday Pre-Open 5:10 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Am Ref Diff bbl
Physical
GCY
Logical
GCY
GMI (FC)
BI
Symbol Code
GCY