Trading Unit: 42,000 US gallons (1,000 barrels).

Trading Hours: 9:55 a.m. - 3:00 p.m. (New York Time).

Trading Months: 18 consecutive months commencing with the next calendar month (e.g., on October 1, 1993, the first trading month is November 1993).

Price Quotation: In dollars and cents per gallon (e.g., $0.2422 per gallon).

Min Price Fluct: $0.0001 per gallon ($4.20 per contract).

Max. Price Fluct: $0.40 per gallon ($16,800 per contract) for the first two contract months. Initial back month limits of $0.04 per gallon rise to $0.06 per gallon if the previous day's settlement price is at the $0.04 limit. In the event of $0.20 move in either of the first two contract months, back month limits are expanded to $0.20 per gallon from the limit in place in the direction of the move.

Last Trading Day: Trading terminates at the close of business on the last business day of the month preceding the delivery month.

Delivery: F.O.B. seller's pipeline, storage, or fractionation facility in Mont Belvieu, Texas, with direct pipeline access to the Texas Easter Transmission Pipeline in Mont Belvieu, Texas. Delivery may be made by in-line or in-well transfer, inter- facility transfer, or pump-over, or book transfer.

Delivery Period: All deliveries may only be initiated after fifth business day and must be completed before the last business day of the delivery month.

Grade and Quality: Generally conforms to industry standards for fungible liquid propane gas as determined by the Gas Processors Association (GPA-HD5).

Margin Requirements: Margins are required for open futures or short options positions.