Your browser is unsupported

Description

A monthly cash settled Exchange Futures Contract based upon the mathematical result of subtracting the monthly price published by Inside FERC, as defined in Reference Price B, from the average of the daily prices published by Gas Daily, as defined in Reference Price A.

Market Specifications

Trading Screen Product Name

NG Index IF for GDD Futures

Trading Screen Hub Name

Transco-65

Contract Symbol

TZC

Settlement Method

Cash settlement

Contract Size

2500 MMBtus

Currency

USD

Minimum Price Fluctuation

The price quotation convention shall be One hundredth of a cent ($0.0001) per MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle

Up to 120 consecutive monthly Contract Periods, or as otherwise determined by the Exchange

Last Trading Day

The last Business Day prior to the first calendar day of the Contract Period

Final Settlement

Average of the Reference Price A prices minus Reference Price B

REFERENCE PRICE A

NATURAL GAS-TRANSCO-STATION-65-GAS DAILY

a) Ref Price A - Description

“NATURAL GAS-TRANSCO-STATION-65-GAS DAILY" means that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery Date, stated in U.S. Dollars, published under the heading "Final Daily Gas Indices ($/MMBtu): Louisiana/Southeast, Transco, station 65: Midpoint” in the issue of Gas Daily that reports prices effective on that Pricing Date.

b) Ref Price A - Pricing Date

Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price

Specified Price Midpoint

d) Ref Price A - Pricing calendar

Gas Daily

e) Ref Price A - Delivery Date

Each calendar day in the Contract Period

REFERENCE PRICE B

NATURAL GAS-TRANSCO-STATION-65-INSIDE-FERC

a) Ref Price B - Description

“NATURAL GAS-TRANSCO-STATION-65-INSIDE-FERC” means that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery Date, stated in U.S. Dollars, published under the heading "Monthly Bidweek Spot Gas Prices ($/MMBtu): Louisiana/Southeast, Transco, station 65: Index" in the issue of Inside FERC that reports prices effective on that Pricing Date

b) Ref Price B - Pricing Date

First publication date of the Contract Period

c) Ref Price B - Specified Price

Index

d) Ref Price B - Pricing Calendar

Inside FERC

e) Ref Price B - Delivery Date

Contract Period

Final Payment Date

The third Clearing Organization business day following the last Business Day of the Contract Period

MIC Code

IFED

Clearing Venues

ICEU

Related Products

• Transco Station 65 Swing Future
• Transco Station 65 Basis Future

Trading Hours

Codes