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VOLUME 26 – BULLETIN #030
TO:
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ALL CLEARING PARTICIPANTS
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FROM:
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CLIENT SERVICES AND SUPPORT
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DATE:
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August 29, 2006
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SUBJECT:
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ChemConnect, Inc. Natural Gas Liquid Contracts
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ChemConnect, recently announced that it will trade the following contracts beginning on Wednesday August 30, 2006.
Key elements of the ChemConnect contracts are summarized below:
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DESCRIPTION: Propane Forward Conway- Williams
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Exchange Code:
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03
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Commodity Code:
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HE
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Trading Unit:
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1 Lot
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Contract Size:
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42,000 U.S. gallons (1,000 barrels)
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Clearing Price Format:
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U.S. Dollars and Cents per gallon
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Sample price:
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Actual = $0.75125 per gallon
7 digit = 0075125
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Minimum Price Fluctuation:
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$0.00001 = $0.42 per contract
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Tick Size:
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$0.00001 per gallon
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Last Trading Day
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Last business day of the month preceding the delivery month.
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Delivery Specifications:
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F.O.B. at Conway, Williams Storage facility in Conway, Kansas. Product shall conform to industry standards for fungible liquefied propane gas as determined by the Gas Processors Association (GPA-HD-5).
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Trading Hours (CT):
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7:15 a.m. to 3:15 p.m.
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Contract Months:
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Monthly beginning with the October 2006 contract month. Contracts will be eligible for clearing through March 2007. CCorp will notify Clearing Participants as it authorizes additional months.
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DESCRIPTION: Propane Swap Conway – Williams
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Exchange Code:
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03
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Commodity Code:
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HF
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Trading Unit:
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1 Lot
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Contract Size:
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42,000 U.S. gallons (1,000 barrels)
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Clearing Price Format:
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U.S. Dollars and Cents per gallon
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Sample Price:
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Actual = $0.75125
7 digit = 0075125
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Minimum Price Fluctuation:
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$0.00001 = $0.42 per contract
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Tick Size:
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$0.00001 per gallon
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Last Trading Day
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Last business day of the month preceding the Settlement Month.
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Final Settlement/Clearing Corporation
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Final Settlement Price for Last Trading Day
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Final ChemConnect Swap Settlement Price
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Arithmetic average of the daily market values for the underlying product as determined each Business Day during the swap settlement month in accordance with ChemConnect’s policies.
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Trading Hours (CT):
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7:15 a.m. to 3:15 p.m.
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Contract Months:
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Monthly beginning with the October 2006 contract month. Contracts will be eligible for clearing through March 2007. CCorp will notify Clearing Participants as it authorizes additional months.
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DESCRIPTION: Propane Swap Conway-Williams OPIS Index Settlement
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Exchange Code:
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03
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Commodity Code:
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HG
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Trading Unit:
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1 Lot
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Contract Size:
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42,000 U.S. gallons (1,000 barrels)
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Clearing Price Format:
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U.S. Dollars and Cents per gallon
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Sample Price:
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Actual = $0.75125
7 digit = 0075125
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Minimum Price Fluctuation:
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$0.00001 = $0.42 per contract
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Tick Size:
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$0.00001 per gallon
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Last Trading Day
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Last business day of the month preceding the Settlement Month
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Final Settlement/Clearing Corporation
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Final Settlement Price for Last Trading Day
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Final ChemConnect Swap Settlement Price
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Arithmetic average of the daily averages of the high and low prices for “any” Conway In-Well propane as published by the Oil Pricing Information Service (OPIS) in its LP Gas Fax for each business day during the settlement month.
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Trading Hours (CT):
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7:15 a.m. to 3:15 p.m.
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Contract Months:
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Monthly beginning with the October 2006 contract month. Contracts will be eligible for clearing through March 2007. CCorp will notify Clearing Participants as it authorizes additional months.
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DESCRIPTION: : Ethane Swap Enterprise – OPIS Index Settlement
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Exchange Code:
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03
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Commodity Code:
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HK
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Trading Unit:
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1 Lot
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Contract Size:
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42,000 U.S. gallons (1,000 barrels)
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Clearing Price Format:
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U.S. Dollars and Cents per gallon
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Sample Price:
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Actual = $0.50125
7 digit = 0050125
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Minimum Price Fluctuation:
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$0.00001 = $0.42 per contract
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Tick Size:
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$0.00001 per gallon
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Last Trading Day
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Last business day of the month preceding the Settlement Month
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Final Settlement/Clearing Corporation
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Final Settlement Price for Last Trading Day
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Final ChemConnect Swap Settlement Price
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Arithmetic average of the daily averages of the high and low prices for “any” Mt. Belvieu, non-TET ethane as published by the Oil Price Information Service (OPIS) in its LP Gas Fax for each business day during the settlement month.
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Trading Hours (CT):
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7:15 a.m. to 3:15 p.m.
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Contract Months:
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Monthly beginning with the October 2006 contract month. Contracts will be eligible for clearing through March 2007. CCorp will notify Clearing Participants as it authorizes additional months.
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DESCRIPTION: : : Propane Swap TET – OPIS Index Settlement
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Exchange Code:
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03
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Commodity Code:
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HL
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Trading Unit:
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1 Lot
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Contract Size:
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42,000 U.S. gallons (1,000 barrels)
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Clearing Price Format:
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U.S. Dollars and Cents per gallon
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Sample Price:
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Actual = $0.70125
7 digit = 0070125
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Minimum Price Fluctuation:
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$0.00001 = $0.42 per contract
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Tick Size:
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$0.00001 per gallon
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Last Trading Day
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Last business day of the month preceding the Settlement Month
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Final Settlement/Clearing Corporation
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Final Settlement Price for Last Trading Day
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Final ChemConnect Swap Settlement Price
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Arithmetic average of the daily averages of the high and low prices for Mt. Belvieu for “any” TET propane published by the Oil Pricing Information Service (OPIS) in its LP Gas Fax for each business day during the settlement month.
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Trading Hours (CT):
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7:15 a.m. to 3:15 p.m.
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Contract Months:
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Monthly out to 24 months.
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Should you have any questions, please call or e-mail one of the following Client Services and Support Representatives:
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