- Trading Screen Product Name
- Italian Spark Spr (TTF)
- Trading Screen Hub Name
- Italian Grid/TTF
- Contract Symbol
IPB / TFM
- Unit of Trading
1 MW
- Contract Size
The minimum Italian Spark Spread (TTF) quantity is 5 lots, made up
of 5 lots of Italian Power Financial Base Futures and 10 lots of
Dutch TTF Gas Futures. The Italian Spark Spread (TTF) trades in 5
lot increments.
The price of the Italian Spark Spread (TTF) 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
ICE Endex Dutch TTF Gas.
- Final Settlement
Trading a position in the Italian Spark Spread (TTF) 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 Italian 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 Italian Power Financial Base Futures contracts as made
public by ICE Endex.
- Contract Series
Up to 35 consecutive month contracts or as otherwise determined and
announced by the Exchange from time to time.
Up to 7 consecutive quarters or as otherwise determined and
announced by the Exchange 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 seasons or as otherwise determined and
announced by the Exchange from time to time. Seasons are strips of
six individual and consecutive contract months. Seasons always
comprise a strip of Apr-Sep (Summer Season) or Oct-Mar (Winter
Season).
Up to 2 calendar years or as otherwise determined and announced by
the Exchange from time to time. Calendar years are strips of twelve
individual and consecutive contract months comprising Jan - Dec.
Months, quarters, seasons and calendar 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