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Description

The Dutch TTF Natural Gas 1st Line (USD/MMBtu) Average Price Options contract is an option on the Dutch TTF Natural Gas 1st Line Financial Futures (USD/MMBtu) contract. At expiry, one lot of Dutch TTF Natural Gas Options will exercise into one lot of Dutch TTF Natural Gas Futures.

Market Specifications

Trading Screen Product Name

Dutch TTF Natural Gas 1st Line Financial Futures (USD/MMBtu)

Trading Screen Hub Name

TTF

Contract Symbol

TFU

Contract Series

Up to 156 consecutive month contracts, 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

1 lot = 10,000 MMBTU

Minimum Trading Size

"Futures: 1 lot = 1,000 Allowances
Block Order: 5 lots = 5,000 Allowances"

Quotation

The contract price is in United States dollar and cent per MMBTU

Minimum Price Fluctuation

One tenth of one cent ($0.001) per MMBtu

Tick Value

Contract Size x Minimum Trade Size x Minimum Price Fluctuation

Strike Price Increments

A minimum of 5 strike prices in increments of $0.10 above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. ICE Futures Europe may add one or more strike prices nearest to the last price listed as necessary.

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 month, quarter, season, or calendar

Option Style

European Style

Option Premium / Daily Margin

All open contracts are marked-to-market daily. Futures style margining (not premium paid up-front)

Exercise Procedure

"Expires into a corresponding Dutch TTF Natural Gas 1st Line Financial Futures (USD/MMBtu) 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.

The Futures resulting from exercise immediately goes to cash settlement."

Exchange Rulebook

ICE Futures Europe Contract Rules & Procedures

MIC Code

IFEU

Clearing Venues

ICEU

Trading Hours

Codes