News Release

ICE Selects OPIS Canada Propane and US Butane Benchmarks for Listing

ICE Selects OPIS Canada Propane and US Butane Benchmarks for Listing

December 10, 2020

New products join long list of OPIS-referenced pricing on Intercontinental Exchange


The Intercontinental Exchange (ICE) has selected two benchmarks from OPIS, an IHS Markit (NYSE: INFO) company—Edmonton propane and Mont Belvieu Isom grade normal butane—as the basis for two new NGL Futures contracts, effective December 7.

OPIS is the preferred benchmark provider in U.S. natural gas liquids (NGLs), with the flagship Mont Belvieu Propane widely used in global supply contracts and financial derivatives.

“Based on market demand, ICE is pleased to launch two new futures contracts against the OPIS TET Isom Grade Butane and Edmonton Propane indexes. These new futures contracts will provide traders with additional optionality when hedging their Isom grade butane and Edmonton propane exposure,” said Kim Hurst, Senior Director, NGL and Chemicals Markets for ICE.

“Canada’s propane exports to Asia are set to increase in the coming years and the listing of the Edmonton Propane contract provides a timely addition and accurate hedging opportunity,” said Steve Tan, Vice President, Strategic Content for OPIS.

ICE’s futures and options contracts allow for hedging NGLs and other products, simplifying exposure to the NGL markets and providing ease-of-entry for market participants.

The new ICE futures and options contracts based on OPIS numbers are:

  • Normal Butane, OPIS LST ISOM Grade Future
  • Propane, OPIS Edmonton Future

OPIS Propane and Normal Butane prices are published daily in the OPIS North America LPG Report.

For further information about the Edmonton and Mont Belvieu markets, please contact:

Diane Miller, +1 908 675 2777 or

Ben Scriber, +1 832 679 7224 or

About OPIS (

Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO) provides accurate pricing, real-time news and expert analysis across the global fuel supply chain. Leveraging data from its spot, rack and retail market sources, OPIS enables its customers to buy and sell oil, gas, and petrochemical products with confidence across the globe.

About IHS Markit (

IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2020 IHS Markit Ltd. All rights reserved.

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