- Trading Screen Product Name
- UK NBP Natural Gas Daily Futures
- Trading Screen Hub Name
- NBP
- Contract Symbol
NBD
- Contract Size
1,000 therms of natural gas per day per delivery period
- Unit of Trading
1,000 therms of natural gas per day per delivery period
Traded in multiples of 5 lots.
- Currency
pence Sterling per therm
- Trading Price Quotation
0.01 pence per therm
- Settlement Price Quotation
0.01 pence per therm
- Minimum Price Fluctuation
Futures/Blocks: 0.01 pence per therm. EFPs/EFSs: 0.001 pence/therm
- Daily Settlement
The daily settlement will be determined by ICE using price data
from a number of sources including spot, forward and derivative
markets for both physical and financial products.
- Delivery/Settlement Terms
Matching Acquiring and Disposing Trade Nominations (buyer from
ICEU, seller to ICEU) are input by buyer and seller to National
Grid via Gemini before 18:30 on each business day prior to the
commencement of the delivery period. Delivery takes place in
kWhs.
The EDSP will be the Settlement Price on the day the contract
expires. The Settlement Price is the weighted average price of
trades during a 15 minute period from 16:15 London Time
- Contract Series
Up to 92 consecutive daily contracts or as otherwise determined and
announced by the Exchange from time to time. All Daily Products are
strips of one or more daily contracts and are listed in
parallel.
1 Day-Ahead contract (DA)
1 Balance of Week contract (BOW)
1 Weekend contract (W/END)
1 Saturday contract (Saturday)
1 Sunday contract (Sunday)
1 Working Days Next Week contract (WK/DYNW)
1 Balance of Month contract (BOM)
Up to 2 Month Contracts
- Last Trading Day
Trading of Daily Contracts will cease at the close of business on
the business day prior to the start of the delivery period. For the
avoidance of doubt business days will have the meaning in ICE Rules
and Procedures i.e. following UK definition of business day.
- Final Payment Date
D+2: Two business days after good delivery. Buyers Security will be
taken on D-1. Buyers’ security will be full contract value
plus a percentage, estimated to be around 5%.
- Business Days
London Business Days
- Markers
TIC (Trade at Index Close) ICIS
- MIC Code
- IFEU
- Clearing Venues
- ICEU