ICEEUR:GWM UK Natural Gas Futures [SERIES]
ICE Futures Europe UK Natural Gas Futures (ICEEUR:GWM) : Trading Screen Product Name: UK Natural Gas Futures. Trading Screen Hub Name: NBP. Codes: Clearing Admin Name: IPE Nat Gas. Physical: M. Logical: GWM. Unit of Trading: 1,000 therms of natural gas per day (1 therm = 29.3071 kilowatt hours). Contract Size: 1,000 therms per day per delivery period (ie month, quarter, season or year). Minimum Trading Size: 5 lots = 5,000 therms per day. Minimum Block Order: 40 lots = 40,000 therms per day. Quotation: The contract price is in Sterling and pence per therm. Minimum Price Fluctuation: Futures - 0.01 pence/therm and EFP/EFS/Block - 0.001 pence/therm. Maximum Price Fluctuation: There are no limits. Tick Size: Contract Size x Minimum Trade Size x Minimum Price Flux. Settlement Price: The weighted average price of trades during a fifteen-minute settlement period from 16:00:00 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. Trading Hours: London 7:00 AM - 5:00 PM (07:00 - 17:00) pre-open 6:45 AM (06:45), New York 2:00 AM - 12:00 PM (02:00 - 12:00) pre-open 1:45 AM (01:45), Singapore 3:00 PM - 1:00 AM (15:00 - 01:00) pre-open 2:45 PM (14:45). Trading Period: 78-83 consecutive month contracts. Expiration Date: 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. Trading Model: Continuous trading throughout trading hours. Trading Methods: Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. Position Limit: Positions are reported to the Exchange on a daily basis. The Exchange has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.