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ICE Futures Europe

UK NBP Natural Gas Daily Future


Daily contracts for physical delivery through the transfer of rights in respect of Natural Gas at the National Balancing Point, operated by National Grid, the transmission system operator in Great Britain. Delivery is made equally each day throughout the delivery period.

Market Specifications

Trading Screen Product Name
UK NBP Natural Gas Daily Futures
Trading Screen Hub Name
Contract Symbol
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.
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
TIC (Trade at Index Close) ICIS
MIC Code
Clearing Venues

Trading Hours

New York2:00 AM - 12:00 PM
02:00 - 12:00
1:45 AM
London7:00 AM - 5:00 PM
07:00 - 17:00
6:45 AM
Singapore3:00 PM - 1:00 AM
15:00 - 01:00
2:45 PM

The times represent the trading hours on the last trading day. All other contracts for which it is not the last trading day shall continue trading until 5 PM London time.


Clearing Admin Name
UK Nat Gas Day
Symbol Code