- Trading Screen Product Name
- Propane Argus/Naphtha Diff Futures
- Trading Screen Hub Name
- CIF ARA/Naphtha CIF NWE Cg
- Contract Symbol
APN
- Settlement Method
Cash settlement
- Contract Size
1,000 metric tonnes
- Currency
USD
- Minimum Price Fluctuation
The price quotation convention shall be One tenth of a cent ($0.001) per metric tonne; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
- Contract Series
Up to 72 consecutive monthly Contract Periods
- Last Trading Day
The last Business Day of the Contract Period
- Final Settlement
Average of the Reference Price A prices minus Average of the Reference Price B prices
- 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 Period
- 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 Europe 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
Average of high and low prices
- d) Ref Price B - Pricing Calendar
Platts European Marketscan
- e) Ref Price B - Delivery Date
Contract Period
- Final Payment Date
The second Clearing Organization business day following the Last Trading Day
- MIC Code
- IFED
- Clearing Venues
- ICEU