- Trading Screen Product Name
- UK Natural Gas Futures
- Trading Screen Hub Name
- Hedge Instrument
ICE UK Natural Gas Futures contract.
- Trading Period
Up to 36 consecutive months.
Quarterly, seasonal, calendar, and any period of consecutive
monthly contracts can be registered as a strip. For example, a Q1
option is an option on Jan, an option on Feb, and an option on Mar,
with each option expiring five calendar days before the start of
the relevant contract month.
- Expiration Date
Trading will cease at the end of the designated Settlement Period,
16:00 - 16:15 LLT, of the underlying futures contract five calendar
days before the start of the contract month. If that day is a
non-business day, expiry will occur on the nearest prior business
day, except where that day is also the expiry date of the
underlying futures contract, in which case expiry will be occur on
the preceding business day.
- Contract Security
ICE Clear Europe acts as central counterparty to all trades thereby
guaranteeing the financial performance of ICE Futures Europe
contracts registered in the name of its Members up to and including
delivery, exercise and/or settlement.
- Trading Hours
07:00 - 17:00, Local London Time (LLT), Monday - Friday.
- Trading Model
Continuous trading throughout trading hours
- Trading Methods
Electronic futures, Exchange for Physical (EFP), Exchange for Swap
(EFS) and Block Trades are available for this contract.
- Unit of Trading
1,000 therms of natural gas per day (1 therm = 29.3071 kilowatt
- Minimum Trading Size
5 lots = 5,000 therms per day
- Minimum Block Order
50 lots = 50,000 therms per day
The contract price is in Sterling and in pence per therm
- Strike Price Increments
Strike range of 5.00-120.00 pence/therm.
Multiples of 0.01 pence per therm.
- Minimum Price Fluctuation
Futures Screen - 0.01 pence/therm
EFPs/EFSs/Blocks - 0.001 pence/therm
- Maximum Price Fluctuation
There are no limits.
- Position Limit
Positions are reported to the Exchange on a daily basis. The
Exchange has powers to prevent the development of excessive
positions or unwarranted speculation or any other undesirable
situation and may take steps to resolve such situations including
the ability to mandate members to limit the size of such positions
or to reduce positions where appropriate.
- Option Premium
Equity-style such that premiums are paid at the time the
transaction is executed.
- Exercise and Automatic Exercise
Expires into the ICE UK Natural Gas Futures contract with
European-style exercise. If the option is not abandoned, automatic
exercise will occur for options which are one or more ticks in the
money. At-The-Money and Out-of-The-Money options will expire
worthless. Members will have up to one and a quarter hours after
the designated Settlement Period on the option expiry day to
manually abandon or exercise an option.
- MIC Code
- Clearing Venues