UK NBP Natural Gas Futures910
ICE Futures Europe
UK NBP Natural Gas Futures
Description
Contracts are for physical delivery through the transfer of rights
in respect of Natural Gas at the National Balancing Point (NBP)
Virtual Trading Point, operated by National Grid. Delivery is made
equally each day throughout the delivery period.
Market Specifications
- Trading Screen Product Name
- UK NBP Natural Gas Futures
- Trading Screen Hub Name
- NBP
- Contract Symbol
- M
- 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
- 1,000 therms per day per delivery period (i.e. 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: 40 lots = 40,000 therms per day
- Markers
- TAS (Trade at Settlement)
- Price Quotation
- The contract price is in Sterling and pence per therm.
- Tick Value
- Contract Size x Minimum Trade Size x Minimum Price Fluctuation
- Last Trading Day
- Trading will cease at the close of business two Business Days prior to the first calendar day of the delivery month, quarter, season, or calendar.
- Settlement Method
- Physical Delivery.
- End of Day Settlement Price
- The weighted average price of trades during a ten-minute settlement period from 16:05:00 to 16:15:00, London Local Time. If there is low liquidity during this time, Quoted Settlement Prices (QSPs) will be used to establish the settlement price.
- Delivery 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 the business day prior to the commencement of the delivery period. Delivery takes place in kilowatt-hours (29.3071 kilowatt hours per therm).
- Exchange Rulebook
- MIC Code
- IFEU
- Clearing Venues
- ICEU
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 2:00 AM - 12:00 PM 02:00 - 12:00 | 1:45 AM 01:45 |
| LONDON | 7:00 AM - 5:00 PM 07:00 - 17:00 | 6:45 AM 06:45 |
| SINGAPORE | 3:00 PM - 1:00 AM* 15:00 - 01:00 | 2:45 PM 14:45 |
Codes
- Clearing Admin Name
- IPE Nat Gas
- Physical
- M
- Logical
- GWM
- GMI (FC)
- WM
- ION A.C.N.
- 0960
- Symbol Code
- GWM