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ICE Futures Europe

UK NBP Natural Gas Daily Future

Description

Contracts are for physical delivery through the transfer of rights in respect of Natural Gas at the National Balancing Point (NBP) Virtual Trading Point, operated by National Grid. Delivery is made equally each day throughout the delivery period.

Market Specifications

Trading Screen Product Name
UK NBP Natural Gas Daily Futures
Trading Screen Hub Name
NBP
Contract Symbol
NBD
Contract Series
Up to 92 consecutive daily contracts or as otherwise determined and announced by the Exchange from time to time. All Daily Products are strips of one or more daily contracts and are listed in parallel.

1 Day-Ahead contract (DA)
1 Balance of Week contract (BOW)
1 Weekend contract (W/END)
1 Saturday contract (Saturday)
1 Sunday contract (Sunday)
1 Working Days Next Week contract (WK/DYNW)
1 Balance of Month contract (BOM)
Up to 2 Month Contracts.
Contract Size
1,000 therms per day per delivery period (ie month, quarter, season or year).
Unit of Trading
1,000 therms of natural gas per day (1 therm = 29.3071 kilowatt hours)
Minimum Trading Size
Futures: 5 lots = 5,000 therms per day
Markers
TIC (Trade at Index Close) ICIS
Price Quotation
The contract price is in Sterling and pence per therm
Minimum Price Fluctuation
0.01 pence per therm (£0.001/therm)
Tick Value
Contract Size x Minimum Trade Size x Minimum Price Fluctuation
Last Trading Day
Trading of will cease at the close of business on the business day prior to the start of the delivery period.
Settlement Method
Physical Delivery
Final Payment Date
Matching Acquiring and Disposing Trade Nominations (buyer from ICEU, seller to ICEU) are input by buyer and seller to National Grid via Gemini before 18:30 on each business day prior to the commencement of the delivery period. Delivery takes place in kWhs.
Exchange Rulebook
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York3:00 AM - 1:00 PM
03:00 - 13:00
2:45 AM
02:45
London7:00 AM - 5:00 PM
07:00 - 17:00
6:45 AM
06:45
Singapore3:00 PM - 1:00 AM
15:00 - 01:00
2:45 PM
14:45

The times represent the trading hours on the last trading day. All other contracts for which it is not the last trading day shall continue trading until 5 PM London time.

Codes

Clearing Admin Name
UK Nat Gas Day
Physical
NBD
Logical
NBD
GMI (FC)
Z2
ION A.C.N.
Symbol Code
NBD