ICE UK Natural Gas
The ICE UK Natural Gas Futures contract, first listed in January of 1997, is used primarily to manage price risk in the underlying physical natural gas market, as an investment vehicle, to effect physical delivery into the UK gas grid, and to enable users to separate/reference the price element within a long-term physical gas contract.
The contract results in physical delivery only if position(s) are not closed out prior to expiration. Physical delivery takes place within the UK natural gas grid at the National Balancing Point (NBP). Delivery must be made equally throughout the delivery period and equivalent to the number of lots open at the time of expiration.
Natural gas is a fossil fuel source of energy. Due to economical and ecological advantages that it presents as well as its safety qualities (e.g. reduced flammable range), natural gas is an increasingly attractive source of energy in many countries.
ICE offers data quotes on a subscription basis.
|UK Natural Gas futures|
|Contract Size||One lot equals 1,000 therms of natural gas per day|
|Pricing Unit||The contract price is in Sterling and pence per therm|
|Tick Value||Futures/Blocks - 0.01 pence/therm
EFPs/EFSs - 0.005 pence/therm
|Contract Months||78-83 consecutive month contracts.
11-13 consecutive quarters. Quarters are strips of three individual and consecutive contract months. Quarters always comprise a strip of Jan-Mar, Apr-Jun, Jul- Sep or Oct-Dec.
13-14 consecutive seasons. Seasons are strips of six individual and consecutive contract months. Seasons always comprise a strip of Apr-Sep or Oct-Mar.
6 consecutive years. Years are strips of twelve individual and consecutive contract months comprising Jan - Dec.
Months, quarters, seasons and years are listed in parallel.
|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.|
|Note: This contract is electronic ONLY -- no open outcry|
|No Open Outcry||Electronic|
|Trading Hours||N/A||Open: 07:00 London (local time) Close: 17:00 (Daily contracts 16:00) - London (local time)|
|Price Limits||N/A||There are no price limits.|
Contracts are traded through the ICE Platform, by the Exchange of Futures for Physicals (EFPs), the Exchange of Futures for Swaps or Block Trades.