- Trading Screen Product Name
- German Spark Spr (TTF)
- Trading Screen Hub Name
- German Grid/TTF
- Contract Symbol
GAB / TFM
- Unit of Trading
1 MW
- Contract Size
The minimum German Spark Spread quantity is 5 lots, made up of 5
lots of German Power Financial Base Futures and 10 lots of Dutch
TTF Gas Futures. The German Spark Spread trades in 5 lot
increments.
The price of the German Spark Spread assumes a fuel efficiency of
50%. The cost of fuel is calculated by dividing the price of
natural gas by 0.5.
- Currency
Euro
- Trading Price Quotation
The contract price is in Euros and Euro cents per MWh
- Minimum Price Fluctuation
1 Euro Cent per MWh (€0.01/MWh)
- Maximum Price Fluctuation
There are no limits
- Tick Size
Contract Size x Minimum Trade Size x Minimum Price Flux
- Last Trading Day
Trading will cease at the close of business two Business Days prior
to the first calendar day of the delivery period of the underlying
Dutch TTF Gas Futures contract.
- Final Settlement
Trading a position in the German Spark Spread results in two
separate positions in the underlying futures legs i.e. a long
(short) position in the ICE Endex Dutch TTF Gas Futures contract
and a short (long) position in the ICE Endex German Power Financial
Base Futures contract. The settlement of each leg will be the
respective expiry of the ICE Endex Dutch TTF Gas Futures and ICE
Endex German Power Financial Base Futures contracts as made public
by ICE Endex.
- Contract Series
Up to 59 consecutive month contracts or as otherwise determined and
announced by ICE Endex from time to time.
Up to 9 consecutive quarters or as otherwise determined and
announced by ICE Endex from time to time. 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.
Up to 4 consecutive years or as otherwise determined and announced
by ICE Endex from time to time. Years are strips of twelve
individual and consecutive contract months comprising Jan - Dec.
Months, quarters and years are listed in parallel.
- Contract Security
ICE Clear Europe (ICEU) 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
- MIC Code
- NDEX
- Clearing Venues
- ICEU