- Trading Screen Product Name
- UK Natural Gas 1st Line Financial Futures (USD/MMBtu)
- Trading Screen Hub Name
- Commodity Code
- Trading Period
78-83 consecutive month contracts.
11-13 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.
13-14 consecutive seasons. Seasons are strips of six individual and
consecutive contract months. Seasons always comprise a strip of
Apr-Sep or Oct-Mar.
6 consecutive years.
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 end of the designated settlement period
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 Futures Europe
contracts registered in the name of its Members up to and including
delivery, exercise and/or settlement.
- 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
Any multiple of 10,000 MMBTUs
- Contract Size
- Minimum Trading Size
1 lot = 10,000 MMBTU
- Minimum Block Order
5 lots = 50,000 MMBTU
United States dollars (USD)
The contract price is in United States dollar and cent per MMBTU
- Minimum Price Fluctuation
One tenth of one cent ($0.001) per MMBtu
- Maximum Price Fluctuation
There are no limits
- Tick Size
10 United States dollar
- Settlement Method
- Settlement Price
The Daily Settlement Price of the UK Natural Gas Futures Contract
(pence/therm) converted to USD using the Daily Spot Exchange Rate
as published by the Bank of England.
- Final Settlement
The cash settlement price for a UK NBP Gas 1st Line Financial
Futures (USD/MMBTU) contract is calculated as the arithmetic mean
of the settlement prices as published by the exchange for ICE UK
Natural Gas Futures on each Trading Day during the period that the
expiring month is the front month. Every settlement price is
converted from Pound Sterling (GBP) to United State dollar (USD)
using the Daily Spot Exchange Rate as published by the Bank of
England on the day after the settlement price was published by the
- Final Payment Date
Two Clearing House Business Days following the Last Trading Day
- Position Limit
Positions are reported to the Exchange on a daily basis. The
Exchange 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.
- MIC Code
- Clearing Venues