ICE NGX
ICE NGX, headquartered in Calgary, Alberta, Canada, provides electronic trading, central counterparty clearing and data services to the North American natural gas and electricity markets. Since beginning operations in February 1994, ICE NGX has developed the AB-NIT ("AECO") hub into one of the most liquid spot and forward energy markets in North America. In 2008, ICE NGX and Intercontinental Exchange (ICE) launched an operational alliance where by ICE NGX uses ICE's front end trading technology and provides clearing services for ICE's US physical gas products.
Quick Facts
Contracting Parties (CPs)
More than 275 CPs in North America
Launch Date
February 10, 1994
Trading/Clearing Locations
Providing trading and/or clearing services at 95 natural gas (20 Canadian, 75 US) and 3 power regions
Physical Delivery
End to end anonymous delivery with physical backstopping
Benchmark Indices
Providing the benchmark price indices for physical natural gas, crude oil and financial power markets in Canada
Regulatory Recognition
Recognized exchange and clearinghouse in Canada and US with third country European clearinghouse recognition
Non-Mutualized Clearinghouse
All Contracting Parties direct clear with no mutualized clearinghouse obligations
Volumes Cleared
2019 average per month: Over 1,035 Petajoules energy equivalent of natural gas and electricity
Value Proposition
Transaction Technology
ICE NGX products and clearing services are available through ICE‘s global leading WebICE trading platform.
Liquidity
ICE NGX provides the most liquid electronic marketplace for physical natural gas and financial power products in Canada.
Clearing and Settlement
ICE NGX is the largest clearinghouse of physical natural gas and financial power in Canada. In the U.S., ICE NGX is the exclusive clearinghouse for ICE’s leading OTC physical natural gas markets, and the largest volume clearinghouse for physical power in the ERCOT (Texas) market.
Clearinghouse Benefits
ICE NGX provides portfolio margining methodology with multilateral and cross-commodity netting features which allow Contracting Parties to margin their exposures in a highly efficient manner, while mitigating counterparty risk through a regulated clearinghouse. ICE NGX is a Qualifying Central Counterparty (QCCP) as jointly recognized by the Bank of Canada and the Alberta Securities Commission.
Price Indices
ICE NGX generates price indices from fixed price contracts traded in ICE NGX markets. These are available in realtime and are widely used by the industry to settle both ICE NGX traded and OTC contracts.