Basis Swap - Consumers Energy Citygate28687624

Description

A monthly cash settled swap based upon the mathematical result of subtracting the price of the NYMEX Henry Hub Natural Gas Futures Contract, as defined in Reference Price B, from the monthly price published by Inside FERC for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name
NG Fin BS, LD1 for IF
Trading Screen Hub Name
Consumers
Rule Number
1315
Settlement Method
Cash settlement
Contract Size
2500 MMBtus
Currency
USD
Minimum Price Fluctuation
0.0001
Listing Cycle
Up to 72 consecutive monthly Contract Periods, or as otherwise determined by the SEF
Last Trading Day
The last Business Day prior to the first calendar day of the Contract Period
Final Settlement
Reference Price A minus Reference Price B
REFERENCE PRICE A
NATURAL GAS-UPPER MIDWEST (CONSUMERS ENERGY CITY-GATES)-INSIDE FERC
a) Ref Price A - Description
"NATURAL GAS-UPPER MIDWEST (CONSUMERS ENERGY CITY-GATES)-INSIDE FERC" means that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery Date, stated in U.S. Dollars, published under the heading "Market Center Spot Gas Prices ($/MMBtu): Upper Midwest, Consumers Energy city-gate" in the issue of Inside FERC that reports prices effective on that Pricing Date.
b) Ref Price A - Pricing Date
First publication date of Contract Period
c) Ref Price A - Specified Price
Index
d) Ref Price A - Pricing calendar
Inside FERC
e) Ref Price A - Delivery Date
Contract Period
REFERENCE PRICE B
NATURAL GAS-NYMEX
a) Ref Price B - Description
"NATURAL GAS-NYMEX" means that the price for a Pricing Date will be that day's Specified Price per MMBtu of natural gas on the NYMEX of the Henry Hub Natural Gas Futures Contract for the Delivery Date, stated in U.S. Dollars, as made public by the NYMEX on that Pricing Date.
b) Ref Price B - Pricing Date
Last scheduled trading day of the NYMEX Henry Hub Natural Gas Futures Contract for the Delivery Date
c) Ref Price B - Specified Price
Settlement price
d) Ref Price B - Pricing Calendar
NYMEX
e) Ref Price B - Delivery Date
Contract Period
Final Payment Date
Five (5) New York Business Days after each settlement date via wire transfer of Federal Funds.
Other Terms
To be confirmed directly between the parties in their full form of contract. The terms reflected in such contracts shall be controlling.
MIC Code
ICES
Clearing Venues
IEPA
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:05 PM*
19:50 - 18:05
7:40 PM
19:40
London12:50 AM - 11:05 PM*
00:50 - 23:05
12:40 AM
00:40
Singapore8:50 AM - 7:05 AM*
08:50 - 07:05
8:40 AM
08:40

*Next Day

Codes

Clearing Admin Name
Basis Swap
Physical
Logical
GMI(FC)
R&N A.C.N.