[Trend] ICE Europe: TFM Dutch TTF Gas Base Load Futures prices chart
Dutch TTF Gas Base Load Futures (ICE Futures Europe: TFM) Contract Specifications
ICE = Intercontinental Exchange, Inc.
Contracts are for physical delivery through the transfer of rights in respect of Natural Gas at the Title Transfer Facility (TTF) Virtual Trading Point, operated by Gasunie Transport Services (GTS), the transmission system operator in the Netherlands. Delivery is made equally each hour throughout the delivery period from 06:00 (CET) on the first day of the month until 06:00 (CET) on the first day of the next month.
Trading Screen Product Name: Dutch TTF Gas Base Load Futures
Trading Screen Hub Name: TTF
Product Code:
(1) Contract Symbol: TFM, MIC Code: NDEX, Clearing Venues: ICEU (2) Clearing Admin Name: Dutch TTF BL, Physical: TFM, Logical: TFM, GMI (FC): CF, Symbol Code: AFR
Unit of Trading: 1 MW
Contract Size: 1 MW per day in contract period (i.e. month, quarter, season or year) x 23, 24 or 25 hours (summer or winter time).
Minimum Trading Size: (1) Electronic Futures: 5 lots = 5 MW (2) Exchange for Physical (EFP): 1 lot = 1 MW (3) Exchange for Swap (EFS): 1 lot = 1 MW
Minimum Block Order: 1 lot = 1 MW
Quotation: The contract price is in Euros and Euro cents per MWh
Minimum Price Fluctuation: Futures – 0.5 Euro Cent per MWh (€0.005/MWh) EFPs/EFSs/Blocks - 0.5 Euro Cent per MWh (€0.005/MWh)
Maximum Price Fluctuation: There are no limits
Tick Value: Contract Size x Minimum Trade Size x Minimum Price Flux
Settlement Price: Fixing each Business Day as set out in the applicable Operating Time Schedule, Appendix B.1, end of day at approximately 17:15 hours. Timings are CET.
Position Limit: Positions are reported to ICE Endex on a daily basis. ICE Endex 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.
Initial Margin: Calculated on all open contracts, Initial Margin, as defined in the ICE Clear Europe Clearing Rules, is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest.
Daily Margin: All open contracts are 'marked-to-market' daily, with Variation Margin, as defined in the ICE Clear Europe Clearing Rules, being called for as appropriate.
Delivery/Settlement Terms: Matching Acquiring and Disposing Trade Nominations (buyer from ICEU, seller to ICEU) are input by ICE to GTS via Edig@s before 13:00 (CET) on each business day prior to the commencement of the delivery period. Delivery takes place in kilowatt-hours per hour. The EDSP will be the end of day Settlement Price on the day the contract expires.
Trading Period: Up to 156 consecutive month contracts, or as otherwise determined by the Exchange. Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip.
Expiration Date:
(1) Trading will cease at the close of business two UK Business Days prior to the first calendar day of the delivery month, quarter, season, or calendar.
(2) TAS trading shall cease at the start of the designated settlement period two business days prior to the first calendar day of the delivery month.
Contract Security: ICE Clear Europe acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
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.
Trading Hours:
New York 03:00 - 13:00 (Pre open: 02:45)
London 07:00 - 17:00 (Pre open: 06:45)
Singapore 15:00 - 01:00 (Pre open: 14:45)