Your browser is unsupported

Please visit this URL to review a list of supported browsers.

ICE Futures Europe

UK NBP Natural Gas 1st Line Financial Futures (USD/MMBTU)

Description

A financially settled futures contract based upon the average of the daily settlement prices as published by the Exchange for ICE UK NBP Natural Gas Futures contract (M) during the period that the expiring month is the front month, converted to USD using the WM/Refinitiv Closing GBPUSD Spot Rates as published by Refinitiv.

Market Specifications

Trading Screen Product Name
UK NBP Natural Gas 1st Line Financial Futures (USD/MMBtu)
Trading Screen Hub Name
NBP
Contract Symbol
UKD
Contract Series
Up to 156 consecutive monthly Contract Periods, or as otherwise determined by the Exchange. Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip.
Contract Size
10,000 MMBtu
Unit of Trading
10,000 MMBtus
Minimum Trading Size
"Futures: 1 lot = 10,000 MMBtu
Exchange for Physical (EFP): 1 lot = 10,000 MMBtu
Exchange for Swap (EFS): 1 lot = 10,000 MMBtu
Block Order : 5 lots = 50,000 MMBtu"
Price Quotation
The contract price is in United States dollar and cent per MMBTU
Minimum Price Fluctuation
One tenth of one cent per MMBtu ($0.001/MMBtu).
Tick Value
Contract Size x Minimum Trade Size x Minimum Price Fluctuation
Last Trading Day
Trading will cease at the end of the designated settlement period two Business Days prior to the first calendar day of the delivery period.
Settlement Method
Financially Settled
Final Settlement
"The final settlement price for a UK NBP Natural Gas 1st Line Financial Futures (USD/MMBTU) contract is calculated as the arithmetic mean of the settlement prices as published by the exchange for ICE UK Natural Gas Futures on each Trading Day during the period that the expiring month is the front month.

Every settlement price is converted from Pound Sterling (GBP) to United State dollar (USD) using the WM/Refinitiv Closing GBPUSD Spot Rates as published by Refinitiv at 4 pm UK time on the day the settlement price was published by the Exchange. When there is no WM/Refinitiv Closing GBPUSD Spot Rate published, the next previous WM/Refinitiv Closing GBPUSD Spot Rate as published by Refinitiv will be used for settlement purposes."
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Exchange Rulebook
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 AM - 7:00 AM
08:50 - 07:00
8:40 AM
08:40

Codes

Clearing Admin Name
UK NG MMBTU USD
Physical
UKD
Logical
UKD
GMI (FC)
KY
ION A.C.N.
Symbol Code
UKD