Nominations, Scheduling and Backstopping

Market Operations handles the scheduling of physically settled natural gas, power and environmental commodities and confirms delivery on ICE NGX hubs. To ensure firm delivery for all ICE NGX transactions, unique backstopping procedures are used in the event of a delivery failure. For Canadian natural gas delivery points, failures are corrected the same gas day to ensure ICE NGX trades are the most risk-free transactions available.

Index Verification and Publication

ICE NGX publishes a variety of natural gas, environmental and electricity indices, derived from trading done on multiple trading platforms. Market Ops performs daily processes to ensure all ICE NGX gas and environmental indices are accurate and verified for use by ICE NGX's client base. Monthly publications based around the ICE NGX primary gas indices are constructed by the operations team and are available for all ICE NGX customers.

Price Settlements

Market Operations calculates and publishes daily closing marks (settlements) for over 20,000 natural gas, power and environmental trading products. Used in mark-to-market and variation margin calculations these settlement marks are applied daily to all ICE NGX position held by ICE NGX clients.

Operation of Secondary Markets

Independent of the main WebICE platform ICE NGX Market Operations operates a number of secondary markets. The Alberta Watt-Exchange acts as a platform for the Alberta Electric System Operator to procure reserve power for the Alberta Market. The ICE NGX Power Auction System is another independent system operated by the Market Operations group which allows for the auction of customized electricity products.

The Market Price Band is used to handle trades in error, pursuant to the ICE NGX Contracting Party Agreement.