NWE LNG (Spark) Futures82725198
ICE Futures Europe
NWE LNG (Spark) Futures
Description
"A financially settled future based on the SparkNWE assessment price for Northwest European (NWE) LNG."
Market Specifications
- Trading Screen Product Name
- NWE LNG (Spark) Futures
- Trading Screen Hub Name
- NWE
- Contract Symbol
- NWL
- Contract Series
- Up to 156 consecutive monthly 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
- 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
- US Dollars and cents 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
- Cash Settlement Price
- "The Final settlement price is calculated as the arithmetic mean of the sum of the ICE Endex Dutch TTF Gas Base Load Futures (TFM) and SparkNWE Basis on relevant Spark assessment days during the period that the expiring month is the front month.
TFM settlement price is converted from Euro to US Dollar (USD) using WM/Refinitiv Closing EUR/USD Spot Rates as published by Refinitiv at 4pm UK time on the day the settlement price was published by ICE Endex. When there is no WM/Refinitiv Closing EURUSD Spot Rate published, the next previous WM/Refinitiv Closing EURUSD 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
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 8:50 AM - 7:00 AM* 08:50 - 07:00 | 8:40 AM 08:40 |
*Next Day
Codes
- Clearing Admin Name
- LNG NWE
- Physical
- NWL
- Logical
- NWL
- GMI (FC)
- ION A.C.N.
- Symbol Code
- NWL