- Trading Screen Product Name
- Dutch TTF Natural Gas Futures
- Trading Screen Hub Name
- TTF (Futures-style)
- Contract Symbol
TFO
- Hedge Instrument
Dutch TTF Gas Futures contract
- Trading Period
Up to 156 consecutive month contracts, or as otherwise determined
by the Exchange. Quarterly, seasonal, calendar, and any period of
consecutive monthly contracts can be registered as a strip.
- Expiration Date
Trading will cease when the intraday reference price of the
underlying futures contract is set, five calendar days before the
start of the contract month, at approximately 14:00 CET (as
specified in the Operating Schedule - Appendix B.1). If that day is
a non-business day or non-UK busines 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
1 MW
- Contract Size
1 MW per day in contract period (i.e. month, quarter, season or
year) x 23, 24 or 25 hours (summer or winter time).
- Minimum Trading Size
5 lots = 5 MW
- Minimum Block Order
1 lot = 1 MW
- Quotation
The contract price is in Euros and Euro cents per MWh
- Strike Price Increments
A minimum of 5 strike prices in increments of €0.50 above and
below the at-the-money Strike Price. Strike Price boundaries are
adjusted according to futures price movements. ICE Endex may add
one or more strike prices nearest to the last price listed as
necessary.
- Minimum Price Fluctuation
0.5 Euro Cent per MWh
- Maximum Price Fluctuation
There are no limits.
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
- Position Limit
Positions are reported to the ICE Endex 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.
- Option Premium
Futures Style
- Exercise Procedure
Expires into a corresponding ICE Endex Dutch TTF Natural 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 after cessation of trading on the
option expiry day to manually abandon or exercise an option.
- MIC Code
- NDEX
- Clearing Venues
- ICEU