ICE Futures Europe

UK Natural Gas Daily Financial Future

UK Natural Gas Daily Financial Future37042693

Description

Daily contracts, cash settled against the System Average Price for UK Natural Gas as determined daily by ICE Endex.

Market Specifications

Trading Screen Product Name
UK Natural Gas Daily Financial Futures
Trading Screen Hub Name
NBP
Commodity Code
NDG
Contract Size
1,000 therms of natural gas per day per delivery period
Unit of Trading
1,000 therms of natural gas per day per delivery period

Traded in multiples of 5 lots.
Currency
pence Sterling per therm
Trading Price Quotation
0.01 pence per therm
Settlement Price Quotation
0.01 pence per therm
Minimum Price Fluctuation
Futures/Blocks: 0.01 pence per therm. EFPs/EFSs: 0.001 pence/therm
Daily Settlement
The daily settlement will be the System Average Price for UK Natural Gas as determined by ICE Endex.
Delivery/Settlement Basis
Daily cash settlement against the System Average Price (SAP) for UK Natural Gas.

The EDSP will be the SAP for the expired contract.
Contract Series
All trading periods are strips of daily contracts.

Up to 42 Daily Contracts (from day ahead)

1 Balance of Week – BOW (a strip of Daily contracts from day ahead to the end of the working week, business days only)

3 Weekends - W/E. (Weekends always comprise a strip of Saturday and Sunday contracts plus any UK bank holidays running sequentially either before or after the Saturday and Sunday.

5 Working Days Next Week contracts – WDNW. WDNWs are strips of individual and consecutive contract days and will typically consist of Mon-Fri. UK Bank Holidays are not included in the WDNW contracts).

1 Balance of Month – BOM (The BOM contract is a strip of two or more days from two business days forward to the end of the contract month, where the first day of any period of non-trading days is considered to be a business day. N.B. On certain days at the end of a contract month there will not be a BOM listed).
Last Trading Day
Trading of Daily Contracts will cease at the close of business on the business day prior to the commencement of the Daily Contractstart of the delivery period. For the avoidance of doubt business days will have the meaning in ICE Rules and Procedures i.e. following UK definition of business day.
Final Payment Date
D+2: Two business days after good delivery. Buyers Security will be taken on D-1. Buyers’ security will be full contract value plus a percentage, estimated to be around 5%.
Business Days
UK business days
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York2:00 AM - 12:00 PM
02:00 - 12:00
1:45 AM
01:45
London7:00 AM - 5:00 PM
07:00 - 17:00
6:45 AM
06:45
Singapore2:00 PM - 12:00 AM
14:00 - 00:00
1:45 PM
13:45

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 Fin NG Daily
Physical
NDG
Logical
NDG
GMI(FC)
R&N A.C.N.