ICE NGX
ICE NGX, headquartered in Calgary, Alberta, Canada provides electronic trading, central counterparty clearing and data services to the North American natural gas, electricity, and environmental markets. Since beginning operations in February 1994, ICE NGX has developed the AB-NIT (“AECO”) hub into one of the most liquid spot and forward energy markets in North America. In 2008, ICE NGX and Intercontinental Exchange (ICE) launched an operational alliance whereby ICE NGX began using ICE’s front end trading technology and providing clearing services for ICE’s US physical gas products, culminating in ICE’s acquisition of NGX in 2017. In 2024, ICE NGX launched exchange trading and clearing services for physically settled futures products for Alberta EPCs and Offsets generated under the Alberta Technology Investment and Emissions Reduction (“TIER”) Regulation.
Quick facts
Contracting Parties (CPs)
More than 300 direct participants of the exchange and clearinghouse
Launch Date
February 10, 1994
Trading/Clearing Locations
Providing trading and/or clearing services at 101 natural gas trading hubs (20 Canadian, 81 US), 3 power regions (ERCOT, Alberta, Ontario), and environmental commodities (Alberta TIER program)
Physical Delivery
End to end anonymous delivery with physical backstopping
Contracting Parties (CPs)
More than 300 direct participants of the exchange and clearinghouse
Launch Date
February 10, 1994
Trading/Clearing Locations
Providing trading and/or clearing services at 101 natural gas trading hubs (20 Canadian, 81 US), 3 power regions (ERCOT, Alberta, Ontario), and environmental commodities (Alberta TIER program)
Physical Delivery
End to end anonymous delivery with physical backstopping
Benchmark Indices
Providing the benchmark price indices for physical natural gas, crude oil and financial power markets in Canada and for screen-traded Alberta TIER environmental commodities
Regulatory Recognition
Recognized exchange and clearinghouse in Canada and US, authorized as third-country CCP in EU and UK
Non-Mutualized Clearinghouse
All Contracting Parties direct clear with no mutualized clearinghouse obligations
Volumes Cleared
2023 – Approximately 1,000 petajoules avg monthly energy equivalent of natural gas and electricity. Nearly $50 billion total annual notional value of cleared energy.
Benchmark Indices
Providing the benchmark price indices for physical natural gas, crude oil and financial power markets in Canada and for screen-traded Alberta TIER environmental commodities
Regulatory Recognition
Recognized exchange and clearinghouse in Canada and US, authorized as third-country CCP in EU and UK
Non-Mutualized Clearinghouse
All Contracting Parties direct clear with no mutualized clearinghouse obligations
Volumes Cleared
2023 – Approximately 1,000 petajoules avg monthly energy equivalent of natural gas and electricity. Nearly $50 billion total annual notional value of cleared energy.
Value proposition
Transaction Technology
ICE NGX products and clearing services are available through ICE‘s global leading WebICE trading platform.
Liquidity
ICE NGX provides the most liquid electronic marketplace for physical natural gas and financial power products in Canada, and the only on-screen trading and clearing for Alberta TIER environmental commodities.
Clearing and Settlement
ICE NGX is the largest clearinghouse of physical natural gas and financial power in Canada. In the U.S., ICE NGX is the exclusive clearinghouse for ICE’s leading OTC physical natural gas markets.
Transaction Technology
ICE NGX products and clearing services are available through ICE‘s global leading WebICE trading platform.
Liquidity
ICE NGX provides the most liquid electronic marketplace for physical natural gas and financial power products in Canada, and the only on-screen trading and clearing for Alberta TIER environmental commodities.
Clearing and Settlement
ICE NGX is the largest clearinghouse of physical natural gas and financial power in Canada. In the U.S., ICE NGX is the exclusive clearinghouse for ICE’s leading OTC physical natural gas markets.
Clearinghouse Benefits
Central clearing streamlines mid- and back-office processes.
Invoicing and margin requirements netted across natural gas, power and environmental commodities.
Price Indices
ICE NGX generates price indices from fixed price contracts traded in ICE NGX markets. These are available in realtime and are widely used by the industry to settle both ICE NGX traded and OTC contracts.
Clearinghouse Benefits
Central clearing streamlines mid- and back-office processes.
Invoicing and margin requirements netted across natural gas, power and environmental commodities.
Price Indices
ICE NGX generates price indices from fixed price contracts traded in ICE NGX markets. These are available in realtime and are widely used by the industry to settle both ICE NGX traded and OTC contracts.
Product summary
ICE NGX’s Product Map outlines the physical locations in North America where customers can transact and receive the benefits of ICE NGX’s clearing model, one of the most secure, efficient and risk-free clearing environments available today.