ICE AB NIT Basis

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A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting the price of the NYMEX Henry Hub Natural Gas Futures Contract, as defined in Reference Price B, from the monthly price published by Canadian Gas Price Reporter for the location specified in Reference Price A.

AB NIT Basis Futures
Trading Screen Product Name NG Basis LD1 for NGX 7a Futures
Trading Screen Hub Name AB-NIT
Contract Symbol AEC
Settlement Method Cash settlement
Contract Size 2500 MMBtus
Currency USD
Minimum Price Fluctuation The price quotation convention shall be One hundredth of a cent ($0.0001) per MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
Listing Cycle Up to 120 consecutive monthly Contract Periods, or as otherwise determined by the Exchange.
Last Trading Day The last Business Day prior to the first calendar day of the Contract Period
Final Settlement Reference Price A minus Reference Price B
REFERENCE PRICE A NATURAL GAS NGX AB-NIT MONTH AHEAD INDEX 7A (US$/MMBTU)-CANADIAN GAS PRICE REPORTER
a) Ref Price A - Description "NATURAL GAS NGX AB-NIT MONTH AHEAD INDEX 7A (US$/MMBTU)-CANADIAN GAS PRICE REPORTER" means that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery Date, stated in U.S. Dollars, published under the heading "Monthly Canadian and U.S. natural gas price summary: Canadian Domestic Gas Prices: NGX AB-NIT Month Ahead Index (7A): US$/MMBtu" in the issue of Canadian Gas Price Reporter that reports prices effective for that Pricing Date.
b) Ref Price A - Pricing Date First publication date of Contract Period
c) Ref Price A - Specified Price Index
d) Ref Price A - Pricing calendar Canadian Gas Price Reporter
e) Ref Price A - Delivery Date Contract Period
REFERENCE PRICE B NATURAL GAS-NYMEX
a) Ref Price B - Description "NATURAL GAS-NYMEX" means that the price for a Pricing Date will be that day's Specified Price per MMBtu of natural gas on the NYMEX of the Henry Hub Natural Gas Futures Contract for the Delivery Date, stated in U.S. Dollars, as made public by the NYMEX on that Pricing Date.
b) Ref Price B - Pricing Date Last scheduled trading day of the NYMEX Henry Hub Natural Gas Futures Contract for the Delivery Date
c) Ref Price B - Specified Price Settlement price
d) Ref Price B - Pricing Calendar NYMEX
e) Ref Price B - Delivery Date Contract Period
Final Payment Date The Clearing Organization business day following the first Canadian business day following the Last Trading Day
MIC Code IFED
Clearing Venues ICEU
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

Sunday Pre-Open 5:10 PM ET; Closed on Saturday

Codes Clearing Admin Name Canada Basis
Physical AEC
Logical AEC
GMI (FC) NB
ION A.C.N. NA83

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ICE AB NIT Basis Product Spec