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Energy
Energy/Natural gas liquids

Natural gas liquids

Access one of the most liquid markets in the world, with tools built for both physical and financial Natural Gas Liquid (NGL) trading. ICE's NGL marketplace covers futures based on Argus and OPIS price assessments for propane, butane, ethane and natural gasoline; components that underpin industrial, heating, petrochemical and vehicle fuel markets globally.

Unlock opportunity across markets

Our electronic platform spans physical and futures trading, giving customers access to a broad product range with clearing and margin efficiencies of a central counterparty. As the primary source for NGL index providers, we also offer real-time pricing and dedicated sales support to help you trade with confidence.

Access the physical market

Spot month buying and selling across hundreds of counterparties. ICE offers:

  • Fixed price and index trading out the curve
  • Flexible trading terms through a bilateral credit matrix
  • A broad range of physical NGL strips

Trade cash settled NGL futures

ICE's futures markets include contracts based on Argus and OPIS price assessments across the key NGL products:

  • Open market access to clearing counterparties through screen trading, regardless of size or position
  • Clearing for both broker and direct futures trades via ICE Block
  • Daily settlement reports

Key benefits

Primary data source

ICE is the primary data source for NGL index providers, offering real-time pricing across the NGL complex.

Margin offsets

NGL futures cleared at ICE benefit from margin offsets across ICE's broader energy complex, including natural gas, oil and refined products, improving capital efficiency for participants with diversified portfolios.

Physical and financial in one place

ICE offers both physical NGL trading and cash settled futures on the same platform, giving participants seamless access from spot to forward curve, in both fixed price and index.

ICE Connect

Stay ahead of the evolving dynamics in global natural gas markets with ICE Connect.