- Trading Screen Product Name
- Propane Argus/Crude Diff Futures (mt)
- Trading Screen Hub Name
- CIF ARA/Brent 1st Line
- Contract Symbol
PRR
- Settlement Method
Cash settlement
- Contract Size
1,000 Metric Tonnes (12,404.762 barrels)
- Unit of Trading
Any multiple of 1,000 Metric Tonnes
- Currency
US Dollars and cents
- Trading Price Quotation
One hundredth of one cent ($0.0001) per barrel
- Settlement Price Quotation
One hundredth of one cent ($0.0001) per barrel
- Minimum Price Fluctuation
One hundredth of one cent ($0.0001) per barrel
The conversion factor for this contract is 1 metric ton = 12.404762
bbls
- Last Trading Day
Last trading day of the contract month
- Floating Price
In respect of daily settlement, the Floating Price for daily
settlement will be determined by ICE based on volume weighted
average of all trades in settlement period plus consideration of
other cash and derivative markets, where necessary.
- Contract Series
Up to 72 consecutive calendar months, or as otherwise determined by
the Exchange
- 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 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.
- b) Ref Price A - Pricing Date
Each day that prices are reported for the Delivery Date
- c) Ref Price A - Specified Price
Price
The conversion factor for this contract is 1 metric ton = 12.404762
bbls
- d) Ref Price A - Pricing calendar
Argus International LPG
- e) Ref Price A - Delivery Date
Contract month
- REFERENCE PRICE B
OIL-BRENT-ICE
- a) Ref Price B - Description
“OIL-BRENT-ICE” means that the price for a Pricing Date
will be that day’s settlement price as made public by ICE for
the front month Brent Crude Future for each Business Day in the
determination period.
- b) Ref Price B - Pricing Date
Each trading day of the ICE Brent Crude Future Contract during the
Contract month
Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby
month quotation for ICE Brent Futures specified in the Floating
Price terms above will be used except for the expiration date of
the commodity's underlying delivery month's futures contract. On
such date, the applicable pricing quotation will be rolled to the
following month's futures contract.
- c) Ref Price B - Specified Price
Settlement Price
- d) Ref Price B - Pricing Calendar
ICE
- e) Ref Price B - Delivery Date
First Nearby Month
- MIC Code
- IFED
- Clearing Venues
- ICEU