Dutch TTF Gas Options27998669

Description

The ICE Endex Dutch TTF Natural Gas Options contract is an option on the ICE Endex Dutch TTF Natural Gas TTF Futures contract. At expiry, one lot of Dutch TTF Natural Gas Options will exercise into one lot of Dutch TTF Natural Gas Futures. Dutch TTF Natural Gas Options are European-style, such that In-TheMoney options, unless abandoned, are automatically exercised at expiry. At-The-Money and Out-of-The-Money options will expire un-exercised unless the Member has elected to exercise them

Market Specifications

Trading Screen Product Name
Dutch TTF Gas Base Load Futures
Trading Screen Hub Name
TTF
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 Window, approximately 17:15 CET, 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 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 Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Hours
Open 08:00, Close 18:00 (CET), 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 MW
Contract Size
1 MW per day in contract period (i.e. month, quarter, season or year) x 23, 24 or 25 hours (summer or winter time).
Minimum Trading Size
5 lots = 5 MW
Minimum Block Order
1 lot = 1 MW
Quotation
The contract price is in Euros and Euro cents per MWh
Strike Price Increments
Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh
Minimum Price Fluctuation
0.5 Euro Cent per MWh
Maximum Price Fluctuation
There are no limits.
Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
Position Limit
Positions are reported to the ICE Endex 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 a corresponding ICE Endex Dutch TTF 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 hour 15 minutes after the designated Settlement Period on the option expiry day to manually abandon or exercise an option.
MIC Code
NDEX
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York2:00 AM - 12:00 PM
02:00 - 12:00

London7:00 AM - 5:00 PM
07:00 - 17:00

Singapore3:00 PM - 1:00 AM
15:00 - 01:00

Codes

Clearing Admin Name
Dutch TTF BL
Physical
TFM
Logical
TFM
GMI(FC)
R&N A.C.N.