- Trading Screen Product Name
- Belgian ZTP Natural Gas Futures
- Trading Screen Hub Name
- 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,
- 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
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
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 [email protected]
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
- MIC Code
- Clearing Venues