- Trading Screen Product Name
- NBP Spot
- Trading Screen Hub Name
- NBP
- Gas Quality
Natural Gas as determined by National Grid in the Uniform Network
Code, as amended from time to time. In the Uniform Network Code Gas
means any hydrocarbons or mixture of hydrocarbons and other gases
consisting primarily of methane which at a temperature of 15 °C
and an absolute pressure of 1.01325 bar are or is predominantly in
the gaseous state.
- Hub Rules
Uniform Network Code
- Product
All products are represented by the code of ENB:
OCM TITLE DAY
OCM PHYSICAL DAY
OCM LOCATIONAL DAY
OCM LOCATIONAL TWO DAY
OCM LOCATIONAL THREE DAY
OCM LOCATIONAL FOUR DAY
OCM LOCATIONAL FIVE DAY
OCM LOCATIONAL SIX DAY
OCM LOCATIONAL SEVEN DAY
OCM DSR LOCATIONAL DAY
OCM DSR LOCATIONAL TWO DAY
OCM DSR LOCATIONAL THREE DAY
OCM DSR LOCATIONAL FOUR DAY
OCM DSR LOCATIONAL FIVE DAY
OCM DSR LOCATIONAL SIX DAY
OCM DSR LOCATIONAL SEVEN DAY
- Contract Security
ICE Clear Europe acts as central counterparty to all trades thereby
guaranteeing the financial performance of ICE Endex gas spot market
contracts registered in the name of its Members up to and including
delivery and/or settlement.
- Trading Hours
08:00 (D-1) - 02:35 (D+1)
The OCM is open for trading twenty-four (24) hours a day, seven
days a week, with the exception of a daily maintenance window
between 03:40 and 04:00 during which the markets are not available
- Holidays
The OCM is not adjusted for Bank Holidays
- Clock Changes
Owing to the fact that the Quantity of an OCM Order ordinarily
reflects a fixed quantity for delivery during the Gas Day in
question, Orders are broadly unaffected by the March and October
clock changes. The sole exception arises in respect of Physical and
Locational Orders whose volumetric component is expresses as a Day
Rate (as opposed to an Order Quantity). Day Rates in respect of
Products affected by a clock change are adjusted to take account of
clock change in question.
- Trading Model
Continuous trading throughout trading hours
- Unit of Trading
thm/day
kWh/day (alternative)
- Contract Size
For complete Contract Size Matrix click
here.- Minimum Trading Size
1 lot = 1,000 thm/day
minimum order quantity = 4,000 thm/day
- Quotation
The contract price is in GBp/thm
- Price Range
Any X, where -99,999 GBp/thm ≤ X ≤ 99,999 GBp/thm
- Quantity Range
For all Products any Y, where 4,000 thm/day ≤ Y ≤ 99,999,000
thm/day
- Minimum Price Fluctuation
0.01 GBp/thm
- Maximum Price Fluctuation
There are no limits
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
- Day Rate (Physical and DSR Locational Orders only)
Unrestricted, subject to the minimum trading size/minimum order
quantity indicated above
- Lead Time (Physical and DSR Locational Orders only)
Any integer Y, where 1h ≤ Y ≤ 23h
- Location (Locational and DSR Orders only)
For valid inputs for the Location of an OCM Locational Order click
here.- Additional Information
Pursuant to article D.5.1, section D, of the Transportation
Principal Document of the Network Code, National Grid is the only
party that can buy in the OCM DSR Locational markets. All other
parties are only allowed to submit offers. All trades where
National Grid is not the buyer will be cancelled.
Pursuant to article D.5.1, section D, of the Transportation
Principal Document of the Network Code the OCM DSR Locational
markets are only open during a DSR Period, as notified by National
Grid. Only during a DSR Period live offers can be submitted.
Outside a DSR Period non-live order can be submitted. All orders or
trades in the OCM DSR Locational markets outside a DSR Period will
be cancelled.
- Delivery/Settlement Terms
Settlement takes place daily
- MIC Code
- NDCM
- Clearing Venues
- ICEU