ICE Endex

Belgian ZTP Gas Futures

Belgian ZTP Gas Futures38672604

Description

Contracts are for delivery or purchase through the transfer of rights in respect of natural gas (H-Gas) at the Zeebrugge Trading Point (ZTP) managed by Fluxys Belgium S.A. and Huberator. Delivery is made equally each hour throughout the delivery period from 06:00 (CET) on the first day of the month until 06:00 (CET) on the first day of the next month. The delivery days are all the calendar days in the delivery month.

Market Specifications

Trading Screen Product Name
Belgian ZTP Natural Gas Futures
Trading Screen Hub Name
ZTP
Trading Period
Up to 26 consecutive month contracts

Up to 2 consecutive quarters. Quarters are strips of three individual and consecutive contract months. Quarters always comprise a strip of Jan-Mar, Apr-Jun, Jul- Sep or Oct-Dec.

Up to 2 consecutive seasons. Seasons are strips of six individual and consecutive contract months. Seasons always comprise a strip of Apr-Sep (Summer Season) or Oct-Mar (Winter Season).

Up to 1 calendar year. Years are strips of twelve individual and consecutive contract months comprising Jan - Dec.

Months, quarters, seasons and years are listed in parallel
Expiration Date
Trading will cease at the close of business two Business Days prior to the first calendar day of the delivery month, quarter, season, or calendar.
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 MWh of natural gas per hour per day
Contract Size
1 MW per day in the contract period (i.e. month, quarter, season, or year) x 23, 24 or 25 hours (summer or winter time).
Delivery Months
Feb (non leap year): 28 days x 24 hrs = 672 MWh
Feb (leap year): 29 days = 696 MWh
Jan, May, Jul, Aug, Dec: 31 days = 744 MWh
Oct (1 extra hour clock change) 31 days plus extra hour = 745 MWh
Apr, Jun, Sep, Nov: 30 days = 720 MWh
March (1 less hour clock change) 31 days minus one hour = 743 MWh
Minimum Trading Size
Electronic Futures: 5 lots = 5 MW
Exchange for Physical (EFP): 1 lot = 1 MW
Exchange for Swap (EFS): 1 lot = 1 MW
Minimum Block Order
1 lot = 1 MW
Quotation
The contract price is in Euros and Euro cents per MWh
Minimum Price Fluctuation
Futures – 0.5 Euro Cent per MWh (€0.005/MWh)
EFPs/EFSs/Blocks - 0.5 Euro Cent per MWh (€0.005/MWh)
Maximum Price Fluctuation
There are no limits.
Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
Settlement Price
Fixing each Business Day as set out in the applicable Operating Time Schedule, Appendix B.1, end of day at approximately 17:00 hours. Timings are CET.
Position Limit
Positions are reported to ICE Endex on a daily basis. ICE Endex 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.
Initial Margin
Calculated on all open contracts, Initial Margin, as defined in the ICE Clear Europe Clearing Rules, is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest.
Daily Margin
All open contracts are 'marked-to-market' daily, with Variation Margin, as defined in the ICE Clear Europe Clearing Rules, being called for as appropriate.
Delivery/Settlement Terms
Matching Acquiring and Disposing Trade Nominations (buyer from ICEU, seller to ICEU) are input by ICEU to Fluxys Belgium S.A. and/or Huberator via EDIg@s before 13:45 (CET), on each business day prior to the commencement of the delivery period. Delivery takes place in kilowatt-hours per hour.

The EDSP will be the end of day Settlement Price on the day the contract expires.
MIC Code
NDEX
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

Codes

Clearing Admin Name
Belgian ZTP BL
Physical
ZTP
Logical
ZTP
GMI(FC)
R&N A.C.N.