CME NYMEX: A9N Argus Propane (Saudi Aramco) Futures prices chart

Argus Propane (Saudi Aramco) Futures (CME NYMEX: A9N) Contract Specifications

Product Code: CME Globex: A9N, CME ClearPort: 9N, Clearing: 9N

Contract Unit: 1,000 metric tons
Price Quotation: U.S. dollars and cents per metric ton
Minimum Price Fluctuation: 0.001 per metric ton = $1.00
Settlement Method: Financially Settled

Listed Contracts: Monthly contracts listed for 48 consecutive months

Floating Price: The Floating Price for each contract month is equal to the final assessment from the Argus Media for Propane (Saudi Arabia) contract price for the contract month.

Termination of Trading: Trading terminates 4 business days prior to the 25th calendar day of the month prior to the contract month (1 business day prior to the termination of trading in Light Sweet Crude Oil Futures).

Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)

[Meaning] Floating Price : In a swap contract, the floating price is the leg that depends on the level of a variable, such as an interest rate, currency exchange rate, or price of an asset. Most swaps involve a floating and a fixed leg, although it is possible for both legs to be floating. The party paying the floating rate expects that rate to decline over the life of the swap. A swap is an agreement between two parties to exchange sequences of cash flows for a set period of time. Usually, at the time of contract initiation, at least one of these series of cash flows is determined by a random or uncertain variable, such as an interest rate, foreign exchange rate, equity price or commodity price.