- Trading Screen Product Name
- German NCG Futures
- Trading Screen Hub Name
- Commodity Code
- Hedge Instrument
ICE Endex NCG Gas Futures contract
- Trading Period
Up to 36 consecutive months.
Quarterly, seasonal, calendar, and any period of consecutive
monthly contracts can be registered as a strip. For example, a Q1
option is an option on Jan, an option on Feb, and an option on Mar,
with each option expiring five calendar days before the start of
the relevant contract month
- Expiration Date
Trading will cease at the end of the designated settlement period,
approximately 17:15 CET, of the underlying futures contract five
calendar days before the start of the contract month. If that day
is a non-business day, expiry will occur on the nearest prior
business day, except where that day is also the expiry date of the
underlying futures contract, in which case expiry will occur on the
preceding business day.
- 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
- Contract Size
1 MW x days in the contract period x 23, 24 or 25 hours (summer /
- Minimum Trading Size
5 lots = 5 MW
- Minimum Block Order
1 lot = 1 MW
The contract price is in Euros and Euro cents per MWh
- Strike Price Increments
Strike Range is 5.00 – 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh
- Minimum Price Fluctuation
0.5 Euro Cent per MWh
- Maximum Price Fluctuation
There are no limits.
- Position Limit
Positions are reported to the 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.
- Option Premium
Equity-style such that premiums are paid at the time the
transaction is executed.
- Exercise and Automatic Exercise
Expires into a corresponding ICE Endex NCG Gas Futures contract
with European-style exercise. If the option is not abandoned,
automatic exercise will occur for options which are one or more
ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless.
Members will have up to one hour 15 minutes after the designated
settlement period on the option expiry day to manually abandon or
exercise an option.
- MIC Code
- Clearing Venues