SECTION TTT PART II D: NATURAL GAS LIQUIDS › publicdocs › contractregs › 85... · SECTION TTT...

SECTION TTT PART II D: NATURAL GAS LIQUIDS

© ICE Futures Europe 2017 1

TTT PART II: SPECIFIC STANDARD TERMS FOR FUTURES AND OPTIONS CONTRACTS:

D. NATURAL GAS LIQUIDS

1. Ethane in E/P Mix, OPIS Conway In-Well Future .................................................................................... 3

2. Ethane in E/P Mix, OPIS Conway In-Well Balmo Future ........................................................................ 4

3. Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Future ........................................................................... 5

4. Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Balmo Future................................................................ 6

5. Ethane, OPIS Mt. Belvieu Non-TET Future.............................................................................................. 7

6. Ethane, OPIS Mt. Belvieu Non-TET Balmo Future .................................................................................. 8

7. Ethane, OPIS Mt. Belvieu Other Non-TET Future ................................................................................... 9

8. Isobutane, OPIS Conway In-Well Future ................................................................................................ 10

9. Isobutane, OPIS Conway In-Well Balmo Future .................................................................................... 11

10. Isobutane, OPIS Mt. Belvieu Non-TET Future ....................................................................................... 12

11. Isobutane, OPIS Mt. Belvieu Non-TET Balmo Future ............................................................................ 13

12. Isobutane, OPIS Mt. Belvieu TET Future ............................................................................................... 14

13. Isobutane, OPIS Mt. Belvieu TET Balmo Future .................................................................................... 15

14. Natural Gasoline, OPIS Conway In-Well Future .................................................................................... 16

15. Natural Gasoline, OPIS Conway In-Well Balmo Future ......................................................................... 17

16. Natural Gasoline, OPIS Mt. Belvieu Non-TET Future............................................................................ 18

17. Natural Gasoline, OPIS Mt. Belvieu Non-TET Balmo Future ................................................................ 19

18. Natural Gasoline, OPIS Mt. Belvieu Other Non-TET Future.................................................................. 20

19. Natural Gasoline, OPIS Mt. Belvieu TET Future .................................................................................... 21

20. Natural Gasoline, OPIS Mt. Belvieu TET Balmo Future ........................................................................ 22

21. Normal Butane, OPIS Conway In-Well Future ....................................................................................... 23

22. Normal Butane, OPIS Conway In-Well Balmo Future ........................................................................... 24

23. Normal Butane, OPIS Mt. Belvieu Non-TET Future .............................................................................. 25

24. Normal Butane, OPIS Mt. Belvieu Non-TET Balmo Future ................................................................... 26

25. Normal Butane, OPIS Mt. Belvieu Other Non-TET Future .................................................................... 27

26. Normal Butane, OPIS Mt. Belvieu TET Future ...................................................................................... 28

27. Normal Butane, OPIS Mt. Belvieu TET Balmo Future ........................................................................... 29

28. Butane, Argus Far East Index (AFEI) Future .......................................................................................... 30

29. Butane, Argus Far East Index (AFEI) Balmo Future .............................................................................. 31

30. Butane, Argus Far East Index (AFEI) Mini Future ................................................................................. 32

31. Butane, Argus CIF ARA Future .............................................................................................................. 33

32. Butane, Argus CIF ARA Balmo Future .................................................................................................. 34

33. Butane, Argus CIF ARA Mini Future ..................................................................................................... 35

34. Butane, Argus Saudi CP Future ............................................................................................................... 36

35. Butane, Argus Saudi CP Mini Future ...................................................................................................... 37

36. Butane, Argus Sonatrach CP Future ........................................................................................................ 38

37. Propane, Argus CIF ARA Future ............................................................................................................ 39

38. Propane, Argus CIF ARA Balmo Future ................................................................................................. 40


2 © ICE Futures Europe 2017

TTT 39. Propane, Argus CIF ARA Mini Future .................................................................................................... 41

40. Propane, Argus Far East Index (AFEI) Future ........................................................................................ 42

41. Propane, Argus Far East Index (AFEI) Balmo Future ............................................................................. 43

42. Propane, Argus Far East Index (AFEI) Mini Future ............................................................................... 44

43. Propane, Argus Saudi CP Future ............................................................................................................. 45

44. Propane, Argus Saudi CP Mini Future .................................................................................................... 46

45. Propane, Argus Sonatrach CP Future ...................................................................................................... 47

46. Propane, OPIS CIF ARA ToT Cargoes Future ........................................................................................ 48

47. Propane, OPIS Conway In-Well Future .................................................................................................. 49

48. Propane, OPIS Conway In-Well Balmo Future ....................................................................................... 50

49. Propane, OPIS Hattiesburg Future .......................................................................................................... 51

50. Propane, OPIS Mt. Belvieu Non-TET Future .......................................................................................... 52

51. Propane, OPIS Mt. Belvieu Non-TET Balmo Future .............................................................................. 53

52. Propane, OPIS Mt. Belvieu Other Non-TET Future ............................................................................... 54

53. Propane, OPIS Mt. Belvieu Other Non-TET Balmo Future .................................................................... 55

54. Propane, OPIS Mt. Belvieu TET Future .................................................................................................. 56

55. Propane, OPIS Mt. Belvieu TET Balmo Future ...................................................................................... 57

56. Propane, OPIS Mt. Belvieu TET Mini Future ......................................................................................... 58

57. Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) Future ............................... 59

58. Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index (AFEI) Future ....................... 61

59. Propane, OPIS Mt. Belvieu TET vs Propane, Argus CIF ARA Future ................................................... 63

60. Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus CIF ARA Future ........................................... 65

61. Natural Gasoline, OPIS Mt. Belvieu Non-TET vs WTI 1st Line Future ................................................. 67

62. Natural Gasoline, OPIS Mt. Belvieu Non-TET vs Naphtha CIF NWE Cargoes (Platts) Future ............. 68

63. NGL Basket, OPIS Mt. Belvieu Non-TET Future ................................................................................... 69

64. Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Future .............................................. 70

65. Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts) Balmo Future .................................. 71

66. Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) Future ......................... 73

67. Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan Cargoes (Platts) Balmo Future ............. 75

68. Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Future ......................................... 77

69. Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Balmo Future .............................. 78

70. Ethane, OPIS Mt. Belvieu Non-TET Average Price Option ................................................................... 79

71. Natural Gasoline, OPIS Mt. Belvieu Non-TET Average Price Option ................................................... 80

72. Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Option ...................................................... 81

73. Propane, OPIS Conway In-Well Average Price Option .......................................................................... 82

74. Propane, OPIS Mt. Belvieu TET Average Price Option ......................................................................... 83

75. Ethane in E/P Mix, OPIS Conway In-Well Average Price Option .......................................................... 84

76. Propane, Argus CIF ARA Average Price Option .................................................................................... 85

77. Propane, Argus Far East Index (AFEI) Average Price Option ................................................................ 86



TTT 1. ETHANE IN E/P MIX, OPIS CONWAY IN-WELL FUTURE

1

1 Amended 02 January 2014, 1 December 2015

Product Name Ethane in E/P Mix, OPIS Conway In-Well Future

Contract Description A monthly cash settled future based upon the average of the daily prices published

by OPIS for the location specified in Reference Price A.

Contract Symbol ECC

Settlement Method Cash settlement

Contract Size 1,000 barrels

Currency US Dollars and cents

Minimum Price

Fluctuation

One thousandth of one cent ($0.00001) per gallon;

The conversion factor for this contract is 42 gallons = 1 barrel.

Listing Cycle Up to 72 consecutive monthly contract months

Last Trading Day Last Trading Day of the contract month

Final Settlement Average of Reference Price A prices

REFERENCE PRICE

A

NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS

a) Description "NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS" means that the price for a

Pricing Date will be that day's Specified Price per gallon of ethane for delivery on

the Delivery Date, stated in US cents, published under the heading "Conway In-Well

Spot Gas Liquids Prices: Ethane (in E-P): Any Current Month " in the issue of OPIS

that reports prices effective on that Pricing Date.

b) Pricing Date Each day that prices are reported for the Delivery Date

c) Specified Price Average

d) Pricing calendar OPIS

e) Delivery Date Contract month

Final Payment Date Two Clearing House Business Days following the Last Trading Day



TTT 2. ETHANE IN E/P MIX, OPIS CONWAY IN-WELL BALMO FUTURE

2

Product Name Ethane in E/P Mix, OPIS Conway In-Well Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the daily

prices published by OPIS for the location specified in Reference Price A.

Contract Symbol LPE-LQI




Minimum Price

Fluctuation



Listing Cycle Up to 2 months of balance-of-month contract months



REFERENCE

PRICE A


a) Description "NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS" means that the price for a


the Delivery Date, stated in US cents, published under the heading "Conway In-

Well Spot Gas Liquids Prices: Ethane (in E-P): Any Current Month " in the issue

of OPIS that reports prices effective on that Pricing Date.






2 Amended 1 December 2015



TTT 3. ETHANE IN E/P MIX, OPIS MT. BELVIEU NON-TET FUTURE

3

Product Name Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Future



Contract Symbol ECB




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU EP MIX-OPIS

a) Description "NGL-MONT BELVIEU EP MIX-OPIS" means that the price for a Pricing Date

will be that day's Specified Price per gallon of EP Mix for delivery on the

Delivery Date, stated in US cents, published under the heading "Mont Belvieu

Spot Gas Liquids Prices: EP Mix: Any Current Month" in the issue of OPIS that

reports prices effective on that Pricing Date.









TTT 4. ETHANE IN E/P MIX, OPIS MT. BELVIEU NON-TET BALMO FUTURE

4

Product Name Ethane in E/P Mix, OPIS Mt. Belvieu Non-TET Balmo Future



Contract Symbol LNZ-LPD




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU EP MIX-OPIS

a) Description "NGL-MONT BELVIEU EP MIX-OPIS" means that the price for a Pricing Date

will be that day's Specified Price per gallon of EP Mix for delivery on the

Delivery Date, stated in US cents, published under the heading "Mont Belvieu

Spot Gas Liquids Prices: EP Mix: Any Current Month" in the issue of OPIS that










TTT 5. ETHANE, OPIS MT. BELVIEU NON-TET FUTURE

5

Product Name Ethane, OPIS Mt. Belvieu Non-TET Future



Contract Symbol ETE




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU PURITY ETHANE-OPIS

a) Description "NGL-MONT BELVIEU PURITY ETHANE-OPIS" means that the price for a


the Delivery Date, stated in US cents, published under the heading "Mont Belvieu

Spot Gas Liquids Prices: Purity Ethane: Any Current Month" in the issue of OPIS










TTT 6. ETHANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE

6

Product Name Ethane, OPIS Mt. Belvieu Non-TET Balmo Future



Contract Symbol EEA-EEZ; EFA-EFE




Minimum Price

Fluctuation






REFERENCE

PRICE A















TTT 7. ETHANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE

7

Description A monthly cash settled future based upon the average of the daily prices

published by OPIS for the location specified in Reference Price A.

Contract Symbol ETD

Contract Size 1,000 barrels (42,000 gallons)

Unit of Trading Any multiple of 1,000 barrels (42,000 gallons)


Trading Price Quotation One thousandth of one cent ($0.00001) per gallon;

Settlement Price Quotation One thousandth of one cent ($0.00001) per gallon;

Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon;




REFERENCE PRICE A NGL-MONT BELVIEU Purity Ethane (Other Non-TET)-OPIS

a) Description "NGL-MONT BELVIEU Purity Ethane (Other Non-TET)-OPIS" means

that the price for a Pricing Date will be that day's Specified Price per gallon

of ethane for delivery on the Delivery Date, stated in U.S. cents, published

under the heading "Mont Belvieu Spot Gas Liquids Prices: Other Non-TET

Purity Ethane: Any Current Month" in the issue of OPIS North America

LPG Report that reports prices effective on that Pricing Date.






Contract Series Up to 72 consecutive monthly Contract Periods

Final Payment Dates Two Clearing House Business Days following the Last Trading Day

business days Publication days for OPIS

MIC Code IFEU

Clearing Venue ICEU

7 Inserted 18 September 2017



TTT 8. ISOBUTANE, OPIS CONWAY IN-WELL FUTURE

8

Product Name Isobutane, OPIS Conway In-Well Future



Contract Symbol ISC




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS

a) Description "NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS" means that the price for a

Pricing Date will be that day's Specified Price per gallon of isobutane for delivery

on the Delivery Date, stated in US cents, published under the heading "Conway

In-Well Spot Gas Liquids Prices: Isobutane: Any Current Month" in the issue of

OPIS that reports prices effective on that Pricing Date.









TTT 9. ISOBUTANE, OPIS CONWAY IN-WELL BALMO FUTURE

9

Product Name Isobutane, OPIS Conway In-Well Balmo Future



Contract Symbol LWH-LXL




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS

a) Description "NGL-CONWAY ISOBUTANE (IN-WELL)-OPIS" means that the price for a



In-Well Spot Gas Liquids Prices: Isobutane: Any Current Month" in the issue of










TTT 10. ISOBUTANE, OPIS MT. BELVIEU NON-TET FUTURE

10

Product Name Isobutane, OPIS Mt. Belvieu Non-TET Future



Contract Symbol ISO




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS" means that the price

for a Pricing Date will be that day's Specified Price per gallon of isobutane for

delivery on the Delivery Date, stated in US cents, published under the heading

"Mont Belvieu Spot Gas Liquids Prices: Non-TET Isobutane: Any Current

Month" in the issue of OPIS that reports prices effective on that Pricing Date.









TTT 11. ISOBUTANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE

11

Product Name Isobutane, OPIS Mt. Belvieu Non-TET Balmo Future



Contract Symbol LVC-LWG




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU ISOBUTANE (NON-TET)-OPIS" means that the price

for a Pricing Date will be that day's Specified Price per gallon of isobutane for


"Mont Belvieu Spot Gas Liquids Prices: Non-TET Isobutane: Any Current










TTT 12. ISOBUTANE, OPIS MT. BELVIEU TET FUTURE

12

Product Name Isobutane, OPIS Mt. Belvieu TET Future



Contract Symbol ISL




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS

a) Description "NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS" means that the price for a


on the Delivery Date, stated in US cents, published under the heading "Mont

Belvieu Spot Gas Liquids Prices: TET Isobutane: Any Current Month" in the

issue of OPIS that reports prices effective on that Pricing Date.









TTT 13. ISOBUTANE, OPIS MT. BELVIEU TET BALMO FUTURE

13

Product Name Isobutane, OPIS Mt. Belvieu TET Balmo Future



Contract Symbol ZHF-ZIJ




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS

a) Description "NGL-MONT BELVIEU ISOBUTANE (TET)-OPIS" means that the price for a



Belvieu Spot Gas Liquids Prices: TET Isobutane: Any Current Month" in the










TTT 14. NATURAL GASOLINE, OPIS CONWAY IN-WELL FUTURE

14

Product Name Natural Gasoline, OPIS Conway In-Well Future



Contract Symbol NGC




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS

a) Description "NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS" means that the price for a

Pricing Date will be that day's Specified Price per gallon of natural gas for


"Conway In-Well Spot Gas Liquids Prices: N. Gasoline: Any Current Month" in

the issue of OPIS that reports prices effective on that Pricing Date.









TTT 15. NATURAL GASOLINE, OPIS CONWAY IN-WELL BALMO FUTURE

15

Product Name Natural Gasoline, OPIS Conway In-Well Balmo Future



Contract Symbol LJF-LKJ




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS

a) Description "NGL-CONWAY N. GASOLINE (IN-WELL)-OPIS" means that the price for a

Pricing Date will be that day's Specified Price per gallon of natural gas for


"Conway In-Well Spot Gas Liquids Prices: N. Gasoline: Any Current Month" in










TTT 16. NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET FUTURE

16

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Future



Contract Symbol NGE




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU N. GASOLINE (NON-TET)-OPIS" means that the

price for a Pricing Date will be that day's Specified Price per gallon of natural

gasoline for delivery on the Delivery Date, stated in US cents, published under the

heading "Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Gasoline: Any

Current Month" in the issue of OPIS that reports prices effective on that Pricing

Date.






16

Amended 02 January 2014, 1 December 2015



TTT 17. NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET BALMO FUTURE

17

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Balmo Future



Contract Symbol LGA-LGZ; LHA-LHE




Minimum Price

Fluctuation






REFERENCE

PRICE A







Date.









TTT 18. NATURAL GASOLINE, OPIS MT. BELVIEU OTHER NON-TET FUTURE

18



Contract Symbol NBC










REFERENCE PRICE A NGL-MONT BELVIEU N. Gasoline (Other Non-TET)-OPIS

a) Description "NGL-MONT BELVIEU N. Gasoline (Other Non-TET)-OPIS" means that the


gasoline for delivery on the Delivery Date, stated in U.S. cents, published

under the heading "Mont Belvieu Spot Gas Liquids Prices: Other N. Gasoline:

Any Current Month" in the issue of OPIS North America LPG Report that










MIC Code IFEU

Clearing Venue ICEU

18 Inserted 12 June 2017



TTT 19. NATURAL GASOLINE, OPIS MT. BELVIEU TET FUTURE

19

Product Name Natural Gasoline, OPIS Mt. Belvieu TET Future



Contract Symbol NGL




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS

a) Description "NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS" means that the price for a

Pricing Date will be that day's Specified Price per gallon of natural gasoline for


"Mont Belvieu Spot Gas Liquids Prices: TET N. Gasoline: Any Current Month"

or any successor heading, in the issue of OPIS LP Gas Report, or any successor

publication, that reports prices effective on that Pricing Date.






19




TTT 20. NATURAL GASOLINE, OPIS MT. BELVIEU TET BALMO FUTURE

20

Product Name Natural Gasoline, OPIS Mt. Belvieu TET Balmo Future



Contract Symbol LSS-LTW




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS

a) Description "NGL-MONT BELVIEU N. GASOLINE (TET)-OPIS" means that the price for a

Pricing Date will be that day's Specified Price per gallon of natural gasoline for


"Mont Belvieu Spot Gas Liquids Prices: TET N. Gasoline: Any Current Month"

or any successor heading, in the issue of OPIS LP Gas Report, or any successor

publication, that reports prices effective on that Pricing Date.









TTT 21. NORMAL BUTANE, OPIS CONWAY IN-WELL FUTURE

21

Product Name Normal Butane, OPIS Conway In-Well Future



Contract Symbol IBC




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-CONWAY N. BUTANE (IN-WELL)-OPIS

a) Description "NGL-CONWAY N. BUTANE (IN-WELL)-OPIS" means that the price for a

Pricing Date will be that day's Specified Price per gallon of normal butane for


"Conway In-Well Spot Gas Liquids Prices: N. Butane: Any Current Month" in the







21




TTT 22. NORMAL BUTANE, OPIS CONWAY IN-WELL BALMO FUTURE

22

Product Name Normal Butane, OPIS Conway In-Well Balmo Future



Contract Symbol LKK-LLO




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-CONWAY N. BUTANE (IN-WELL)-OPIS

a) Description "NGL-CONWAY N. BUTANE (IN-WELL)-OPIS" means that the price for a

Pricing Date will be that day's Specified Price per gallon of normal butane for


"Conway In-Well Spot Gas Liquids Prices: N. Butane: Any Current Month" in the










TTT 23. NORMAL BUTANE, OPIS MT. BELVIEU NON-TET FUTURE

23

Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Future



Contract Symbol NBI




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU N. BUTANE (NON-TET)-OPIS" means that the price

for a Pricing Date will be that day's Specified Price per gallon of normal butane

for delivery on the Delivery Date, stated in US cents, published under the heading

"Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Butane: Any Current







23




TTT 24. NORMAL BUTANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE

24

Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Balmo Future



Contract Symbol LEA-LEZ; LFA-LFE




Minimum Price

Fluctuation






REFERENCE

PRICE A















TTT 25. NORMAL BUTANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE

25



Contract Symbol NBE










REFERENCE PRICE A NGL-MONT BELVIEU Normal Butane (Other NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU Normal Butane (Other NON-TET)-OPIS"

means that the price for a Pricing Date will be that day's Specified Price

per gallon of Normal Butane for delivery on the Delivery Date, stated in

U.S. cents, published under the heading "Mont Belvieu Spot Gas Liquids

Prices: Other Non-TET N. Butane: Any Current Month" in the issue of










MIC Code IFEU

Clearing Venue ICEU




TTT 26. NORMAL BUTANE, OPIS MT. BELVIEU TET FUTURE

26

Product Name Normal Butane, OPIS Mt. Belvieu TET Future



Contract Symbol NBR




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS

a) Description "NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS" means

that the price for a Pricing Date will be that day's Specified Price per gallon of

normal butane for delivery on the Delivery Date, stated in US cents, published

under the heading "Mont Belvieu Spot Gas Liquids Prices: TET N. Butane: Any


Date.






26

Amended 02 January 2014, 01 October 2014, 13 October 2014



TTT 27. NORMAL BUTANE, OPIS MT. BELVIEU TET BALMO FUTURE

27

Product Name Normal Butane, OPIS Mt. Belvieu TET Balmo Future



Contract Symbol LRN-LSR




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS

a) Description "NGL-MONT BELVIEU REFINERY GRADE BUTANE (TET)-OPIS" means

that the price for a Pricing Date will be that day's Specified Price per gallon of

normal butane for delivery on the Delivery Date, stated in US cents, published

under the heading "Mont Belvieu Spot Gas Liquids Prices: TET N. Butane: Any


Date.






27 Amended 01 October 2014, 13 October 2014



TTT 28. BUTANE, ARGUS FAR EAST INDEX (AFEI) FUTURE

28

Product Name Butane, Argus Far East Index (AFEI) Future

Contract Description A monthly cash settled future based upon the average of the daily prices

published by Argus International LPG for the location specified in Reference

Price A

Contract Symbol ABF


Contract Size 1,000 metric tones


Trading Price

Quotation

One cent ($0.01) per metric tone

Settlement Price

Quotation

One tenth of one cent ($0.001) per metric tonne

Minimum Price

Fluctuation





REFERENCE

PRICE A

NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG

a) Description "NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG"

means that the price for a Pricing Date will be that day's Specified Price per

tonne of butane, stated in US Dollars, published under the heading "Asia-

Pacific: Argus Far East Index™ (AFEI™): Butane" in the issue of Argus

International LPG that reports prices effective on that Pricing Date


c) Specified Price Price

d) Pricing calendar Argus International LPG



MIC Code IFEU

Clearing Venue ICEU

28 Inserted 18 November 2013, Amended 02 January 2014 , 1 December 2015



TTT 29. BUTANE, ARGUS FAR EAST INDEX (AFEI) BALMO FUTURE

29

Product Name Butane, Argus Far East Index (AFEI) Balmo Future

Contract Description A balance of month cash settled future based upon the average of the

daily prices published by Argus International LPG for the location

specified in Reference Price A.

Contract Symbol 1PI-1QC


Contract Size 1,000 metric tonnes


Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne




REFERENCE PRICE A NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL

LPG

a) Description "NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL

LPG" means that the price for a Pricing Date will be that day's Specified

Price per tonne of butane, stated in US Dollars, published under the

heading "Asia-Pacific: Argus Far East Index™ (AFEI™): Butane" in the

issue of Argus International LPG that reports prices effective on that

Pricing Date






MIC Code IFEU

Clearing Venue ICEU

29

Inserted 6 June 2016



TTT 30. BUTANE, ARGUS FAR EAST INDEX (AFEI) MINI FUTURE

30

Product Name Butane, Argus Far East Index (AFEI) Mini Future

Contract Description A monthly cash settled mini future based upon the average of the daily

prices published by Argus International LPG for the location specified in

Reference Price A.

Contract Symbol BUQ


Contract Size 100 metric tonnes



Listing Cycle Up to 72 consecutive monthly Contract Periods



REFERENCE PRICE A NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL

LPG

a) Description "NGL-BUTANE (FAR EAST INDEX)-ARGUS INTERNATIONAL


Price per tonne of butane, stated in US Dollars, published under the

heading "Asia-Pacific: Argus Far East Index™ (AFEI™): Butane" in the


Pricing Date






MIC Code IFEU

Clearing Venue ICEU

30




TTT 31. BUTANE, ARGUS CIF ARA FUTURE

31

Product Name Butane, Argus CIF ARA Future



Price A

Contract Symbol ABR




Trading Price

Quotation

One cent ($0.01) per metric tonne

Settlement Price

Quotation


Minimum Price

Fluctuation





REFERENCE

PRICE A

NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG

a) Description "NGL-BUTANE (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 butane for delivery on the Delivery Date, stated

in US Dollars, published under the heading "Northwest Europe and

Mediterranean: cif ARA (large cargoes): Butane" in the issue of Argus







MIC Code IFEU

Clearing Venue ICEU

31 Inserted 18 November 2013, Amended 02 January 2014, 1 December 2015



TTT 32. BUTANE, ARGUS CIF ARA BALMO FUTURE

32

Product Name Butane, Argus CIF ARA Balmo Future

Contract Description A balance of the month cash settled future based upon the average of the

daily prices published by Argus International LPG for the location


Contract Symbol 1ON-1PH








REFERENCE PRICE A NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG


INTERNATIONAL LPG" means that the price for a Pricing Date will be

that day's Specified Price per tonne of butane for delivery on the Delivery

Date, stated in US Dollars, published under the heading "Northwest

Europe and Mediterranean: cif ARA (large cargoes): Butane" in the issue

of Argus International LPG that reports prices effective on that Pricing

Date






MIC Code IFEU

Clearing Venue ICEU

32




TTT 33. BUTANE, ARGUS CIF ARA MINI FUTURE

33



Price A.

Contract Symbol ABM




Trading Price Quotation One cent ($0.01) per metric tonne

Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne





REFERENCE PRICE A NGL-BUTANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG



day's Specified Price per tonne of butane for delivery on the Delivery Date,

stated in US Dollars, published under the heading "Northwest Europe and

Mediterranean: cif ARA (large cargoes): Butane" in the issue of Argus







MIC Code IFEU

Clearing Venue ICEU

33

Inserted 6 February 2017



TTT 34. BUTANE, ARGUS SAUDI CP FUTURE

34

Product Name Butane, Argus Saudi CP Future

Contract Description A cash settled future equal to the price published by Argus International LPG

for the location specified in Reference Price A.

Contract Symbol ABS




Trading Price

Quotation

One cent ($0.01) per metric tonne

Settlement Price

Quotation


Minimum Price

Fluctuation



Last Trading Day Last Trading Day prior to the contract month


REFERENCE

PRICE A

NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG

a) Description "NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG"

means that the price for a Pricing Date will be that day's Specified Price per

tonne of butane for delivery on the Delivery Date, stated in US Dollars,

published under the heading "International comparisons: Saudi Aramco:

Butane" in the issue of Argus International LPG that reports prices effective on

that Pricing Date

b) Pricing Date First business day of the contract month





MIC Code IFEU

Clearing Venue ICEU

34 Inserted 18 November 2013, Amended 02 January 2014, 1 December 2015



TTT 35. BUTANE, ARGUS SAUDI CP MINI FUTURE

35

Product Name Butane, Argus Saudi CP Mini Future

Contract Description A cash settled mini future equal to the price published by Argus

International LPG for the location specified in Reference Price A.

Contract Symbol BUS








REFERENCE PRICE A NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG

a) Description "NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL


Price per tonne of butane for delivery on the Delivery Date, stated in US

Dollars, published under the heading "International comparisons: Saudi

Aramco: Butane" in the issue of Argus International LPG that reports

prices effective on that Pricing Date






MIC Code IFEU

Clearing Venue ICEU

35




TTT 36. BUTANE, ARGUS SONATRACH CP FUTURE

36

Contract Description A cash settled future equal to the price published by Argus International LPG

for the location specified in Reference Price A.

Contract Symbol ABO




Trading Price Quotation One cent ($0.01) per metric tonne

Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne

Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne;




REFERENCE PRICE A NGL-BUTANE (SONATRACH FOB BETHIOUA)-ARGUS

INTERNATIONAL LPG

a) Description "NGL-BUTANE (SONATRACH FOB BETHIOUA)-ARGUS

INTERNATIONAL LPG " means that the price for a Pricing Date will be

that day's Specified Price per tonne of butane for delivery on the Delivery

Date, stated in US Dollars, published under the heading "International

comparisons: Sonatrach fob Bethioua: Butane" in the issue of Argus

International LPG that reports prices effective on that Pricing Date.






MIC Code IFEU

Clearing Venue ICEU

36 Inserted 6 February 2017



TTT 37. PROPANE, ARGUS CIF ARA FUTURE

37

Product Name Propane, Argus CIF ARA Future


by Argus International LPG for the location specified in Reference Price A.

Contract Symbol APC




Minimum Price

Fluctuation





REFERENCE

PRICE A

NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG

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,


Mediterranean: cif ARA (large cargoes): Propane" in the issue of Argus







37




TTT 38. PROPANE, ARGUS CIF ARA BALMO FUTURE

38

Product Name Propane, Argus CIF ARA Balmo Future



Reference Price A.

Contract Symbol LMU-LNY




Minimum Price

Fluctuation





REFERENCE

PRICE A


INTERNATIONAL LPG















TTT 39. PROPANE, ARGUS CIF ARA MINI FUTURE

39

Product Name Propane, Argus CIF ARA Mini Future



Reference Price A.

Contract Symbol AFM








REFERENCE PRICE A NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG


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

"Northwest Europe and Mediterranean: cif ARA (large cargoes):

Propane" in the issue of Argus International LPG that reports prices

effective on that Pricing Date






MIC Code IFEU

Clearing Venue ICEU

39




TTT 40. PROPANE, ARGUS FAR EAST INDEX (AFEI) FUTURE

40

Product Name Propane, Argus Far East Index (AFEI) Future


by Argus International LPG for the location specified in Reference Price A.

Contract Symbol AFE




Minimum Price

Fluctuation





REFERENCE

PRICE A

NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG

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 US Dollars, published under the heading "Asia-Pacific:

Argus Far East Index ™ (AFEI ™): Propane" in the issue of Argus International

LPG that reports prices effective on that Pricing Date.






40




TTT 41. PROPANE, ARGUS FAR EAST INDEX (AFEI) BALMO FUTURE

41

Product Name Propane, Argus Far East Index (AFEI) Balmo Future



Reference Price A.

Contract Symbol LLP-LMT




Minimum Price

Fluctuation





REFERENCE

PRICE A


a) Description “NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL LPG”













TTT 42. PROPANE, ARGUS FAR EAST INDEX (AFEI) MINI FUTURE

42

Product Name Propane, Argus Far East Index (AFEI) Mini Future



Reference Price A.

Contract Symbol AFL








REFERENCE PRICE A NGL-PROPANE (FAR EAST INDEX)-ARGUS INTERNATIONAL

LPG

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 US Dollars, published under the

heading "Asia-Pacific: Argus Far East Index™ (AFEI™): Propane" in

the issue of Argus International LPG that reports prices effective on that

Pricing Date.






MIC Code IFEU

Clearing Venue ICEU

42




TTT 43. PROPANE, ARGUS SAUDI CP FUTURE

43

Product Name Propane, Argus Saudi CP Future

Contract Description A cash settled future equal to the price published by Argus International LPG for

the location specified in Reference Price A.

Contract Symbol SCP




Minimum Price

Fluctuation

One tenth of one cent ($0.001) per metric tonne;




REFERENCE

PRICE A

NGL-PROPANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG

a) Description "NGL-PROPANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG "


of propane for delivery on the Delivery Date, stated in US Dollars, published

under the heading "International comparisons: Saudi Aramco: Propane" in the

issue of Argus International LPG that reports prices effective on that Pricing Date.






43 Amended 1 March 2013, Amended 02 January 2014, 1 December 2015



TTT 44. PROPANE, ARGUS SAUDI CP MINI FUTURE

44

Product Name Butane, Argus Saudi CP Mini Future

Contract Description A cash settled mini future equal to the price published by Argus


Contract Symbol AFK








REFERENCE PRICE A NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL LPG

a) Description "NGL-BUTANE (SAUDI ARAMCO)-ARGUS INTERNATIONAL


Price per tonne of butane for delivery on the Delivery Date, stated in US

Dollars, published under the heading "International comparisons: Saudi

Aramco: Butane" in the issue of Argus International LPG that reports

prices effective on that Pricing Date






MIC Code IFEU

Clearing Venue ICEU

44




TTT 45. PROPANE, ARGUS SONATRACH CP FUTURE

45

Product Name Propane, Argus Sonatrach CP Future

Contract Description A cash settled future equal to the price published by Argus International

LPG for the location specified in Reference Price A.

Contract Symbol AFS








REFERENCE PRICE A NGL-PROPANE (SONATRACH FOB BETHIOUA)-ARGUS

INTERNATIONAL LPG

a) Description "NGL-PROPANE (SONATRACH FOB BETHIOUA)-ARGUS




"International comparisons: Sonatrach fob Bethioua: Propane" in the


Pricing Date.






MIC Code IFEU

Clearing Venue ICEU

45




TTT 46. PROPANE, OPIS CIF ARA TOT CARGOES FUTURE

46

Product Name Propane, OPIS CIF ARA ToT Cargoes Future


published by OPIS for the location specified in Reference Price A

Contract Symbol TOT




Minimum Price

Fluctuation





REFERENCE

PRICE A

Propane cif ARA (ToT Cargoes)

a) Description "Propane cif ARA (ToT Cargoes)" 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 "OPIS LPG Settle Prices

($/mt)", subheading "Propane cif ARA (ToT Cargoes)" in the issue of OPIS

Europe LPG & Naphtha Report that reports prices effective on that Pricing Date.






46 Inserted 29 April 2013, Amended 02 January 2014, 1 December 2015



TTT 47. PROPANE, OPIS CONWAY IN-WELL FUTURE

47

Product Name Propane, OPIS Conway In-Well Future



Contract Symbol PRC




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-CONWAY PROPANE (IN-WELL)-OPIS

a) Description "NGL-CONWAY PROPANE (IN-WELL)-OPIS" means that the price for a

Pricing Date will be that day's Specified Price per gallon of propane for delivery


In-Well Spot Gas Liquids Prices: Propane: Any Current Month" in the issue of







47




TTT 48. PROPANE, OPIS CONWAY IN-WELL BALMO FUTURE

48

Product Name Propane, OPIS Conway In-Well Balmo Future



Contract Symbol LIA-LIZ; LJA-LJE




Minimum Price

Fluctuation






REFERENCE

PRICE A















TTT 49. PROPANE, OPIS HATTIESBURG FUTURE

49

Product Name Propane, OPIS Hattiesburg Future



Contract Symbol PRH




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-HATTIESBURG PROPANE (IN-LINE)-OPIS

a) Description "NGL-HATTIESBURG PROPANE (IN-LINE)-OPIS" means that the price for a


on the Delivery Date, stated in US cents, published under the heading

"Hattiesburg Spot Gas Liquids Prices: Propane-In-Line: Any Current Month" in







49




TTT 50. PROPANE, OPIS MT. BELVIEU NON-TET FUTURE

50

Product Name Propane, OPIS Mt. Belvieu Non-TET Future



Contract Symbol PRN




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS" means that the price for

a Pricing Date will be that day's Specified Price per gallon of propane for delivery


Belvieu Spot Gas Liquids Prices: Non-TET Propane: Any Current Month" in the







50




TTT 51. PROPANE, OPIS MT. BELVIEU NON-TET BALMO FUTURE

51

Product Name Propane, OPIS Mt. Belvieu Non-TET Balmo Future



Contract Symbol LAA-LAZ; LBA-LBE




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS" means that the price for

a Pricing Date will be that day's Specified Price per gallon of propane for delivery


Belvieu Spot Gas Liquids Prices: Non-TET Propane: Any Current Month" in the










TTT 52. PROPANE, OPIS MT. BELVIEU OTHER NON-TET FUTURE

52

Product Name Propane, OPIS Mt. Belvieu Other Non-TET Future

Contract Description A monthly cash settled future based upon the average of the daily

prices published by OPIS for the location specified in Reference

Price A.

Contract Symbol PBO




Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon.





REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS"

means that the price for a Pricing Date will be that day's Specified

Price per gallon of propane for delivery on the Delivery Date, stated

in U.S. cents, published under the heading "Mont Belvieu Spot Gas

Liquids Prices: Other Non-TET Propane: Any Current Month" in the







MIC Code IFEU

Clearing Venue ICEU

52 Inserted 14 December 2015



TTT 53. PROPANE, OPIS MT. BELVIEU OTHER NON-TET BALMO FUTURE

53

Contract Description A balance of the month cash settled future based upon the average of the

daily prices published by OPIS for the location specified in Reference Price

A.

Contract Symbol 1YZ-1ZT




Minimum Price Fluctuation One thousandth of one cent ($0.00001) per gallon.

The conversion factor for this contract is 42 gallons = 1 barrel

Listing Cycle Up to 2 months of balance-of-month Contract Periods



REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU PROPANE (Other NON-TET)-OPIS" means that

the price for a Pricing Date will be that day's Specified Price per gallon of

propane for delivery on the Delivery Date, stated in US cents, published

under the heading "Mont Belvieu Spot Gas Liquids Prices: Other Non-TET

Propane: Any Current Month" in the issue of OPIS that reports prices

effective on that Pricing Date.






MIC Code IFEU

Clearing Venue ICEU

53




TTT

54. PROPANE, OPIS MT. BELVIEU TET FUTURE54

Product Name Propane, OPIS Mt. Belvieu TET Future



Contract Symbol PRL




Minimum Price

Fluctuation






REFERENCE

PRICE A

NGL-MONT BELVIEU PROPANE (TET)-OPIS

a) Description "NGL-MONT BELVIEU PROPANE (TET)-OPIS" means that the price for a



Belvieu Spot Gas Liquids Prices: TET Propane: Any Current Month" in the issue







54




TTT 55. PROPANE, OPIS MT. BELVIEU TET BALMO FUTURE

55

Product Name Propane, OPIS Mt. Belvieu TET Balmo Future



Contract Symbol LCA-LCZ; LDA-LDE




Minimum Price

Fluctuation






REFERENCE

PRICE A















TTT 56. PROPANE, OPIS MT. BELVIEU TET MINI FUTURE

56

Product Name Propane, OPIS Mt. Belvieu TET Mini Future



Contract Symbol PLM


Contract Size 100 barrels


Minimum Price

Fluctuation






REFERENCE

PRICE A












56




TTT 57. PROPANE, OPIS MT. BELVIEU TET VS PROPANE, ARGUS FAR EAST INDEX (AFEI)

FUTURE57

Product Name Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index

(AFEI) Future

Contract Description A monthly cash settled future based upon the mathematical result of

subtracting the average of the daily prices published by Argus

International LPG for the location specified in Reference Price B

from the average of the daily prices published by OPIS for the

location specified in Reference Price A.

For purposes of determining the Floating Price, the OPIS price will

be converted each day to US Dollars and cents per metric tonne,

rounded to the nearest cent. The conversion factor will be 521 gallons

per metric tonne.

Contract Symbol CEY







Final Settlement Average of the Reference Price A prices minus Average of the

Reference Price B prices

REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (TET)-OPIS

a) Description "NGL-MONT BELVIEU PROPANE (TET)-OPIS" means that the

price for a Pricing Date will be that day's Specified Price per gallon

of propane for delivery on the Delivery Date, stated in U.S. cents,

published under the heading "Mont Belvieu Spot Gas Liquids Prices:

TET Propane: Any Current Month" in the issue of OPIS that reports

prices effective on that Pricing Date.





REFERENCE PRICE B NGL-PROPANE (FAR EAST INDEX)-ARGUS

INTERNATIONAL LPG

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.

57 Inserted 14 December 2015, Amended 28 November 2016



TTT 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.






MIC Code IFEU

Clearing Venue ICEU



TTT 58. PROPANE, OPIS MT. BELVIEU NON-TET VS PROPANE, ARGUS FAR EAST INDEX

(AFEI) FUTURE58

Product Name Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East

Index (AFEI) Future


subtracting the average of the daily prices published by Argus

International LPG for the location specified in Reference Price B

from the average of the daily prices published by OPIS for the


For purposes of determining the Floating Price, the OPIS price will

be converted each day to US Dollars and cents per metric tonne,

rounded to the nearest cent. The conversion factor will be 521 gallons

per metric tonne.

Contract Symbol CEZ









REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS" means that

the price for a Pricing Date will be that day's Specified Price per

gallon of propane for delivery on the Delivery Date, stated in U.S.

cents, published under the heading "Mont Belvieu Spot Gas Liquids

Prices: Non-TET Propane: Any Current Month" in the issue of OPIS






REFERENCE PRICE B NGL-PROPANE (FAR EAST INDEX)-ARGUS

INTERNATIONAL LPG




Dollars, published under the heading "Asia-Pacific: Refrigerated

58

Inserted 14 December 2015, Amended 28 November 2016



TTT cargoes: Argus Far East Index™ (AFEI™): Propane" in the issue of


Date.






MIC Code IFEU

Clearing Venue ICEU



TTT 59. PROPANE, OPIS MT. BELVIEU TET VS PROPANE, ARGUS CIF ARA FUTURE

59


subtracting the average of the daily prices published by Argus International

LPG for the location specified in Reference Price B from the average of the


A.

For purposes of determining the Floating Price, the OPIS price will be

converted each day to US dollars and cents per metric tonne, rounded to the

nearest cent. The conversion factor will be 521 gallons per metric tonne.

Contract Symbol CEK







Final Settlement Average of the Reference Price A prices minus Average of the Reference

Price B prices

REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (TET)-OPIS


Pricing Date will be that day's Specified Price per gallon of propane for

delivery on the Delivery Date, stated in US cents, published under the

heading "Mont Belvieu Spot Gas Liquids Prices: TET Propane: Any Current






REFERENCE PRICE B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG









59




TTT d) Pricing calendar Argus International LPG


MIC Code IFEU

Clearing Venue ICEU



TTT 60. PROPANE, OPIS MT. BELVIEU NON-TET VS PROPANE, ARGUS CIF ARA FUTURE

60


subtracting the average of the daily prices published by Argus International

LPG for the location specified in Reference Price B from the average of the


A.

For purposes of determining the Floating Price, the OPIS price will be

converted each day to US Dollars and cents per metric tonne, rounded to the

nearest cent. The conversion factor will be 521 gallons per metric tonne.

Contract Symbol CEJ







Final Settlement Average of the Reference Price A prices minus Average of the Reference

Price B prices

REFERENCE PRICE A NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS

a) Description "NGL-MONT BELVIEU PROPANE (NON-TET)-OPIS" means that the

price for a Pricing Date will be that day's Specified Price per gallon of

propane for delivery on the Delivery Date, stated in US cents, published

under the heading "Mont Belvieu Spot Gas Liquids Prices: Non-TET

Propane: Any Current Month" in the issue of OPIS that reports prices






REFERENCE PRICE B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG









60




TTT d) Pricing calendar Argus International LPG



MIC Code IFEU

Clearing Venue ICEU



TTT 61. NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET VS WTI 1ST LINE FUTURE

61

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET vs WTI 1st Line Future

Contract Description A monthly cash settled future based upon the mathematical result of subtracting

the average of the daily prices published by NYMEX for the location specified in

Reference Price B from the average of the daily prices published by OPIS for the


Contract Symbol NGW




Minimum Price

Fluctuation

One tenth of one cent ($0.001) per barrel;


Contract Series Up to 72 consecutive monthly contract months


Final Settlement Average of the Reference Price A prices minus Average of the Reference Price B

prices

REFERENCE

PRICE A







Date.





Reference Price B OIL-WTI-NYMEX

a) Description "OIL-WTI-NYMEX" means that the price for a Pricing Date will be that day's

Specified Price per barrel of the NYMEX Light Sweet Crude Oil Futures for the

Delivery Date, stated in US Dollars, as made public by the NYMEX on that

Pricing Date.

b) Pricing Date Each trading day of the NYMEX Light Sweet Crude Oil Futures Contract during

the Contract month

c) Specified Price Settlement price

d) Pricing calendar NYMEX

e) Delivery Date First Nearby Month


61




TTT 62. NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET VS NAPHTHA CIF NWE

CARGOES (PLATTS) FUTURE62

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.

Contract Symbol GCY


Unit of Trading Any multiple of 1,000 barrels


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


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 Price 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


business days Publication days for OPIS North America LPG Report and Platts

European Marketscan

MIC Code IFEU

Clearing Venue ICEU

62

Inserted 22 August 2016



TTT 63. NGL BASKET, OPIS MT. BELVIEU NON-TET FUTURE

63

Contract Description A monthly cash settled future based upon the barrel components average of

the daily prices published by OPIS for the locations specified in Reference

Price A.

Contract Symbol NGB




Trading Price Quotation One cent ($0.01) per barrel

Settlement Price Quotation One tenth of one cent ($0.001) per barrel

Minimum Price Fluctuation One tenth of one cent ($0.001) per barrel

The conversion factor for this contract is 42 gallons = 1 barrel




REFERENCE PRICE A 42% NGL-MONT BELVIEU Ethane (NON-TET)-OPIS; 28% NGL-MONT

BELVIEU Propane (NON-TET)-OPIS; 11% NGL-MONT BELVIEU

Normal Butane (NON-TET)-OPIS; 6% NGL MONT BELVIEU Isobutane

(NON-TET)-OPIS; 13% MONT BELVIEU Natural Gasoline (NON-TET)-

OPIS

a) Description "42% NGL-MONT BELVIEU Ethane (NON-TET )-OPIS; 28% NGL-

MONT BELVIEU Propane (NON-TET)-OPIS; 11% NGL-MONT

BELVIEU Normal Butane (NON-TET)-OPIS; 6% NGL MONT BELVIEU

Isobutane (NON-TET)-OPIS; 13% MONT BELVIEU Natural Gasoline

(NON-TET)-OPIS” means that the price for a Pricing Date will be that day's

Specified Price per gallon of each listed component multiplied by the

percentage of the barrel for delivery on the Delivery Date, stated in US

cents, published under the heading "Mont Belvieu Spot Gas Liquids Prices:

Non-TET Ethane/Propane/Normal Butane/Isobutane/Natural Gasoline: Any

Current Month" in the issue of OPIS that reports prices effective on that

Pricing Date.






MIC Code IFEU

Clearing Venue ICEU

63

Inserted 13 March 2017



TTT 64. PROPANE, ARGUS CIF ARA VS NAPHTHA CIF NWE CARGOES (PLATTS) FUTURE

64

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


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


Price A.

Contract Symbol APN




Minimum Price

Fluctuation

One tenth of one cent ($0.001) per metric tonne.




prices

REFERENCE

PRICE A


INTERNATIONAL LPG











Reference Price B NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-PLATTS

EUROPEAN MARKETSCAN

a) 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 US 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.



d) Pricing calendar Platts European Marketscan






TTT 65. PROPANE, ARGUS CIF ARA VS NAPHTHA CIF NWE CARGOES (PLATTS) BALMO

FUTURE65

Product Name Propane, Argus CIF ARA vs Naphtha CIF NWE Cargoes (Platts)

Balmo Future

Contract 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.

Contract Symbol 1HR-1IL









REFERENCE PRICE A NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-

ARGUS INTERNATIONAL LPG

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.





REFERENCE PRICE B NAPHTHA-PHYSICAL-CARGOES CIF NWE/BASIS ARA-

PLATTS EUROPEAN MARKETSCAN

a) 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




TTT the issue of Platts European Marketscan that reports prices effective

on that Pricing Date.



d) Pricing calendar Platts European Marketscan



MIC Code IFEU

Clearing Venue ICEU



TTT 66. PROPANE, ARGUS FAR EAST INDEX (AFEI) VS NAPHTHA C+F JAPAN CARGOES

(PLATTS) FUTURE66

Product Name Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan

Cargoes (Platts) Future


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


Contract Symbol ARR









REFERENCE PRICE A NGL-PROPANE (FAR EAST INDEX)-ARGUS

INTERNATIONAL LPG







Date.





REFERENCE PRICE B NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-

PLATTS ASIA-PACIFIC/ARAB GULF MARKETSCAN

a) 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




TTT that reports prices effective on that Pricing Date.



d) Pricing calendar Platts Asia-Pacific/Arab Gulf Marketscan



MIC Code IFEU

Clearing Venue ICEU



TTT 67. PROPANE, ARGUS FAR EAST INDEX (AFEI) VS NAPHTHA C+F JAPAN CARGOES

(PLATTS) BALMO FUTURE67

Product Name Propane, Argus Far East Index (AFEI) vs Naphtha C+F Japan

Cargoes (Platts) Balmo Future

Contract 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 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


Contract Symbol 1GW-1HQ









REFERENCE PRICE A NGL-PROPANE (FAR EAST INDEX)-ARGUS

INTERNATIONAL LPG







Date.





REFERENCE PRICE B NAPHTHA-PHYSICAL-OIL ASSESSMENTS C+F JAPAN-

PLATTS ASIA-PACIFIC/ARAB GULF MARKETSCAN

a) 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):

67

Inserted 14 December 2015



TTT Naphtha" in the issue of Platts Asia-Pacific/Arab Gulf Marketscan




d) Pricing calendar Platts Asia-Pacific/Arab Gulf Marketscan



MIC Code IFEU

Clearing Venue ICEU



TTT 68. PROPANE, ARGUS FAR EAST INDEX (AFEI) VS PROPANE, ARGUS CIF ARA FUTURE

68

Product Name Propane, Argus Far East Index (AFEI) vs. Propane, Argus CIF ARA Future


the average of the daily prices published by Argus International LPG for the

location specified in Reference Price B from the average of the daily prices


Price A.

Contract Symbol EGD




Minimum Price

Fluctuation





prices

REFERENCE

PRICE A











Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG












68




TTT 69. PROPANE, ARGUS FAR EAST INDEX (AFEI) VS PROPANE, ARGUS CIF ARA BALMO

FUTURE69

Product Name Propane, Argus Far East Index (AFEI) vs Propane, Argus CIF ARA Balmo

Future

Contract Description A balance of the month cash settled future based upon the mathematical result of

subtracting the average of the daily prices published by Argus International LPG

for the location specified in Reference Price B from the average of the daily prices


Price A.

Contract Symbol VRD-VSH




Minimum Price

Fluctuation


Contract Series Up to 2 months of balance-of-month contract months



prices

REFERENCE

PRICE A











Reference Price B NGL-PROPANE (EUROPE: CIF ARA LARGE CARGOES)-ARGUS

INTERNATIONAL LPG















TTT 70. ETHANE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION

70

Product Name Ethane, OPIS Mt. Belvieu Non-TET Average Price Option

Contract Description A monthly Average Price Option on the corresponding Contract month of the

Ethane, OPIS Mt. Belvieu Non-TET Future.

Contract Symbol ETE

Settlement Method Exercise into Underlying Futures Contract



Minimum Price

Fluctuation





Option Style Average Price

Exercise Method Automatic Only

Exercise Procedure Manual exercise or abandon is not permitted

Exercise Day The Second Business Day following the Last Trading Day

Automatic Exercise

Provisions

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.

REFERENCE PRICE

A











Strike Pricing Listing

Provisions

A minimum of ten Strike Prices in increments of $0.10 per gallon 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 $0.0001 increments.

70




TTT 71. NATURAL GASOLINE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION

71

Product Name Natural Gasoline, OPIS Mt. Belvieu Non-TET Average Price Option


Natural Gasoline, OPIS Mt. Belvieu Non-TET Future.

Contract Symbol NGE




Minimum Price

Fluctuation









Automatic Exercise

Provisions





REFERENCE PRICE

A




gasoline for delivery on the Delivery Date, stated in US cents, published under

the heading "Mont Belvieu Spot Gas Liquids Prices: Non-TET N. Gasoline: Any


Date.






Provisions





71




TTT 72. NORMAL BUTANE, OPIS MT. BELVIEU NON-TET AVERAGE PRICE OPTION

72

Product Name Normal Butane, OPIS Mt. Belvieu Non-TET Average Price Option


Normal Butane, OPIS Mt. Belvieu Non-TET Future.

Contract Symbol NBI




Minimum Price

Fluctuation









Automatic Exercise

Provisions





REFERENCE PRICE

A






Month" in the issue of OPIS that reports prices effective on that Pricing Date






Provisions





72




TTT 73. PROPANE, OPIS CONWAY IN-WELL AVERAGE PRICE OPTION

73

Product Name Propane, OPIS Conway In-Well Average Price Option


Propane, OPIS Conway In-Well Future.

Contract Symbol PRC




Minimum Price

Fluctuation









Automatic Exercise

Provisions





REFERENCE PRICE

A












Provisions





73




TTT 74. PROPANE, OPIS MT. BELVIEU TET AVERAGE PRICE OPTION

74

Product Name Propane, OPIS Mt. Belvieu TET Average Price Option


Propane, OPIS Mt. Belvieu TET Future.

Contract Symbol PRL




Minimum Price

Fluctuation









Automatic Exercise

Provisions





REFERENCE PRICE

A












Provisions





74




TTT 75. ETHANE IN E/P MIX, OPIS CONWAY IN-WELL AVERAGE PRICE OPTION

75

Product Name Ethane in E/P Mix, OPIS Conway In-Well Average Price Option

Contract

Description

A monthly Average Price Option on the corresponding Contract month of the

Ethane in E/P Mix, OPIS Conway In-Well Future

Contract Symbol ECC




Minimum Price

Fluctuation









Automatic Exercise

Provisions




Options which are "out of the money" expire automatically

REFERENCE

PRICE A


a) Description "NGL-CONWAY ETHANE IN E-P (IN-WELL)-OPIS" means that the price for

a Pricing Date will be that day's Specified Price per gallon of ethane for delivery


In-Well Spot Gas Liquids Prices: Ethane (in E-P): Any Current Month " in the

issue of OPIS that reports prices effective on that Pricing Date





Strike Pricing

Listing Provisions




in $0.0001 increments

75 Inserted 12 May 2014, Amended 1 December 2015



TTT 76. PROPANE, ARGUS CIF ARA AVERAGE PRICE OPTION

76

Contract Description A monthly Average Price Option on the corresponding Contract month

of the Propane, Argus CIF ARA Future

Contract Symbol APC




Minimum Price

Fluctuation








Automatic Exercise

Provisions

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.

REFERENCE PRICE

A


INTERNATIONAL LPG





"Northwest Europe and Mediterranean: cif ARA (large cargoes):


effective on that Pricing Date

b) -Pricing Date Each day that prices are reported for the Delivery Date





Provisions

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.




TTT 77. PROPANE, ARGUS FAR EAST INDEX (AFEI) AVERAGE PRICE OPTION

77

Product Name Propane, Argus Far East Index (AFEI) Average Price Option

Contract Description A monthly Average Price Option on the corresponding Contract month

of the Propane, Argus Far East Index (AFEI) Future.

Contract Symbol AFE


Contract Size 1,000 mt









Automatic Exercise

Provisions

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.

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 US Dollars, published

under the heading "Asia-Pacific: Argus Far East Index™ (AFEI™):



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


Provisions

A minimum of 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 IFEU

Clearing Venue ICEU

77

Inserted 04 April 2016



TTT

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