Oil Price Information Service (OPIS), a leading provider of gasoline, diesel and LPG spot pricing information, today announces the introduction of four new futures contracts at ICE Futures Europe, subject to the completion of applicable regulatory processes.

Starting December 14, 2015, ICE Futures Europe will list the following contracts for trading. All four contracts will be cleared at ICE Clear Europe:

  • Diesel Diff – Group 3 ULSD (OPIS) vs Heating Oil 1st Line Future
  • Propane, OPIS Mt. Belvieu Other Non-TET Future
  • Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) Future
  • Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index (AFEI) Future

“We are honored to be chosen by ICE as a pricing option in the oil and natural gas liquids markets,” said Brian Crotty, OPIS President, in announcing the selection.

The OPIS Group 3 numbers cited by ICE are made transparent on a daily basis via the “OPIS Full-Day Refined Spots Report” but can also be tracked through the trading day with the OPIS Spot Ticker, a real-time interactive price display. This pricing option will be instrumental for Midwest oil refiners, traders, wholesalers, and end-users who want to buy, sell, trade or hedge based off OPIS Group 3 spot prices.

ICE’s addition of the new propane benchmarks into the international arena recognizes the global reach of the OPIS Mont Belvieu benchmark and its relevance to global markets both in Asia and in Europe.

“OPIS has long been the propane and NGL benchmark of choice in the United States, and the availability of these contracts on ICE Futures Europe now recognizes the importance of this benchmark to the international propane market,” said Diane Miller, OPIS Global Director of NGLs.

In 2015 OPIS was recognized by the International Organization of Securities Commissions (IOSCO) for its high standards of market price reporting that include daily market price assessments that are “fair, efficient, and transparent.”

“Through a series of individual audits testing OPIS’ price methodology, approach to market coverage, communications with customers, and price authentication process, OPIS has fully met the high standards set by IOSCO,” said Robert Gough, Director of Content, OPIS.