- Trading Screen Product Name
- UK NBP Natural Gas Futures
- Trading Screen Hub Name
- NBP (Futures-style)
- Contract Symbol
UKF
- Contract Series
Up to 36 consecutive months. Quarterly, seasonal, calendar, and any
period of consecutive monthly contracts can be registered as a
strip. For example, a Q1 option is an option on Jan, an option on
Feb, and an option on Mar, with each option expiring five calendar
days before the start of the relevant contract month.
- Contract Size
1,000 therms per day per delivery period (ie month, quarter, season
or year).
- Unit of Trading
1,000 therms of natural gas per day (1 therm = 29.3071 kilowatt
hours)
- Minimum Trading Size
Futures: 5 lots = 5,000 therms per day
Block Order: 25 lots = 25,000 therms per day
- Price Quotation
The contract price is in Sterling and pence per therm.
- Minimum Price Fluctuation
0.01 pence per therm (£0.001/therm)
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Fluctuation
- Strike Price Increments
A minimum of 5 strike prices in increments of 5.00 pence/therm
above and below the at-the-money Strike Price. Strike Price
boundaries are adjusted according to futures price movements. IFEU
may add one or more strike prices nearest to the last price listed
as necessary
- Last Trading Day
Trading will cease when the intraday reference price is set of the
underlying futures contract five calendar days before the start of
the contract month. If that day is a non-business day, expiry will
occur on the nearest prior business day, except where that day is
also the expiry date of the underlying futures contract, in which
case expiry will be occur on the preceding business day.
- Option Style
European Style
- Option Premium
Futures Style
- Delivery Terms
Expires into the ICE UK Natural Gas Futures contract with
European-style exercise. If the option is not abandoned, automatic
exercise will occur for options which are one or more ticks in the
money. At-The-Money and Out-of-The-Money options will expire
worthless. Members will have up to one hour after after cessation
of trading on the option expiry day to manually abandon or exercise
an option.
- Exchange Rulebook
- MIC Code
- IFEU
- Clearing Venues
- ICEU