Index Swap - Tennessee Gas Pipeline Co. - Zone L, 800 Leg Pool28687627

Description

A monthly cash settled swap based upon the mathematical result of subtracting the monthly price published by Inside FERC, as defined in Reference Price B, from the average of the daily prices published by Gas Daily, as defined in Reference Price A.

Market Specifications

Trading Screen Product Name
NG Fin Index Swap, IF for GDD
Trading Screen Hub Name
TGP-800L
Rule Number
1318
Settlement Method
Cash settlement
Contract Size
2500 MMBtus
Currency
USD
Minimum Price Fluctuation
0.0001
Listing Cycle
Up to 48 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
Average of the Reference Price A prices minus Reference Price B
REFERENCE PRICE A
NATURAL GAS-LOUISIANA (TENNESSEE, 800 LEG)-GAS DAILY
a) Ref Price A - Description
"NATURAL GAS-LOUISIANA (TENNESSEE, 800 LEG)-GAS DAILY" 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 "Daily price survey ($/MMBtu): Louisiana-Onshore South, Tennessee, 800 Leg" in the issue of Gas Daily that reports prices effective on that Pricing Date.
b) Ref Price A - Pricing Date
Each day that prices are reported for the Delivery Date
c) Ref Price A - Specified Price
Midpoint
d) Ref Price A - Pricing calendar
Gas Daily
e) Ref Price A - Delivery Date
Each calendar day in the Contract Period
REFERENCE PRICE B
NATURAL GAS-TENNESSEE GAS (LOUISIANA, 800 LEG)-INSIDE FERC
a) Ref Price B - Description
"NATURAL GAS-TENNESSEE GAS (LOUISIANA, 800 LEG)-INSIDE FERC" means that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery Date, stated in U.S. Dollars, published under the heading "Market Center Spot Gas Prices ($/MMBtu): Tennessee Gas Pipeline Co., Louisiana, 800 leg" in the issue of Inside FERC that reports prices effective on that Pricing Date.
b) Ref Price B - Pricing Date
First publication date of the Contract Period
c) Ref Price B - Specified Price
Index
d) Ref Price B - Pricing Calendar
Inside FERC
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
Index Swap
Physical
Logical
GMI(FC)
R&N A.C.N.