AB NIT Basis Future6590123

Description

A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting the price of the NYMEX Henry Hub Natural Gas Futures Contract, as defined in Reference Price B, from the monthly price published by Canadian Gas Price Reporter for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name
NG Basis LD1 for NGX 7a Futures
Trading Screen Hub Name
AB-NIT
Commodity Code
AEC
Settlement Method
Cash settlement
Contract Size
2500 MMBtus
Currency
USD
Minimum Price Fluctuation
The price quotation convention shall be One hundredth of a cent ($0.0001) per MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
Listing Cycle
Up to 120 consecutive monthly Contract Periods, or as otherwise determined by the Exchange.
Last Trading Day
The last Business Day prior to the first calendar day of the Contract Period
Final Settlement
Reference Price A minus Reference Price B
REFERENCE PRICE A
NATURAL GAS-NGX AB-NIT MONTH AHEAD INDEX 7A (US$/MMBTU)-CANADIAN GAS PRICE REPORTER
a) Ref Price A - Description
"NATURAL GAS-NGX AB-NIT MONTH AHEAD INDEX 7A (US$/MMBTU)-CANADIAN GAS PRICE REPORTER" means that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery Date, stated in U.S. Dollars, published under the heading "Monthly Canadian and U.S. natural gas price summary: Canadian Domestic Gas Prices: NGX AB-NIT Month Ahead Index (7A): US$/MMBtu" in the issue of Canadian Gas Price Reporter that reports prices effective for that Pricing Date.
b) Ref Price A - Pricing Date
First publication date of Contract Period
c) Ref Price A - Specified Price
Index
d) Ref Price A - Pricing calendar
Canadian Gas Price Reporter
e) Ref Price A - Delivery Date
Contract Period
REFERENCE PRICE B
NATURAL GAS-NYMEX
a) Ref Price B - Description
"NATURAL GAS-NYMEX" means that the price for a Pricing Date will be that day's Specified Price per MMBtu of natural gas on the NYMEX of the Henry Hub Natural Gas Futures Contract for the Delivery Date, stated in U.S. Dollars, as made public by the NYMEX on that Pricing Date.
b) Ref Price B - Pricing Date
Last scheduled trading day of the NYMEX Henry Hub Natural Gas Futures Contract for the Delivery Date
c) Ref Price B - Specified Price
Settlement price
d) Ref Price B - Pricing Calendar
NYMEX
e) Ref Price B - Delivery Date
Contract Period
Final Payment Date
The Clearing Organization business day following the first Canadian business day following the Last Trading Day
MIC Code
IFED
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 AM - 7:00 AM*
08:50 - 07:00
8:40 AM
08:40

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Basis Master
Physical
AEC
Logical
AEC
GMI(FC)
NB
R&N A.C.N.
NA83