ICE Title Transfer Facility (TTF)
The global benchmark for natural gas
ICE’s TTF futures and options market sits at the center of ICE’s natural gas markets, acting as a leading benchmark for global natural gas pricing. Used by the market in a similar manner to Brent crude in oil, TTF influences global LNG contract pricing with market participants using TTF's deep liquidity and price transparency to hedge exposure, manage volatility, and optimize gas flows across regions making TTF a central reference price in the risk management of international gas markets with TTF relied upon as a price reference point for natural gas in Asia (ICE JKM).
Natural Gas Futures & Options
Natural gas open interest data
TTF futures OI
TTF options OI
Explore more about ICE TTF
ICE’s TTF market offers highly liquid futures contracts for managing long-term exposure to natural gas prices with TTF acting as the pricing reference point for the wider European THE (German), PEG (French) and PSV (Italian) natural gas hubs. ICE TTF is supported by ICE’s TTF Options market which is widely quoted and traded on-screen alongside OTC cleared execution.
Key benefits
Deep liquidity and transparency
ICE TTF attracts a diverse range of physical and financial market participants which drives deep liquidity and provides transparent, reliable price signals across the curve.
Risk management
ICE TTF enables market participants to effectively manage risk, with the ability to hedge out to 2034, while also offering a range of products, including both physical-financial swaps, location spreads with other European gas hubs and various options contracts to mitigate exposure to price volatility.
Cost-efficiency
Trading on ICE TTF is supported by margin offsets across the ICE energy portfolio, enabling market participants to implement sophisticated trading strategies more efficiently.
Flexibility and precision
ICE TTF offers a range of products that enable market participants to tailor their strategies to specific time frames and market conditions, helping them navigate seasonal patterns and fluctuations in natural gas prices. This flexibility allows them to respond to changing market dynamics, manage risk, and optimize their trading activities.
Related insights
ICE TTF products
ICE’s TTF offers futures contracts for managing long-term exposure to European natural gas prices, available through December 2034.
TTF rising to a global gas benchmark
TTF has evolved from a regional benchmark to a global reference price, used for pricing spot LNG cargoes and forming the basis for Platts’ LNG DES Northwest Europe marker.
The globalization of natural gas gains momentum
ICE’s TTF plays a central role as a benchmark for EU spot contracts and is being used more frequently for long-term hedging needs, influencing price discovery.