New Customer Sign-Up

New Customer Sign-up Overview

 

Thank you for your interest in clearing with ICE NGX. Below you will find a summary of requirements and action items to provide which will allow you to transact with ICE NGX. Should you have any questions throughout the sign up process, please contact your ICE NGX Marketing or Clearing Representative.

In order to become a Contracting Party with ICE NGX, please read the ICE NGX Signup guide. Below is a quick overview of the Sign Up process:

  • Meet the Minimum Qualification Requirements.
  • Complete the ICE NGX Application form either through web for or email to signup@ngx.com
  • After approval from the ICE NGX membership committee, review and execute the ICE NGX Contracting Party’s Agreement (“CPA”)
  • Complete the ICE NGX Contracting Party Administration Form (“CPAF”)
  • Execute the ICE Participants Agreement
  • Arrange to provide collateral pursuant to the terms and conditions of Schedule C of the CPA
  • Enable ICE NGX clearing on the ICE Exchange
  •  

    In order to become a Contracting Party with ICE NGX the following steps must be completed:

     

    • Minimum Requirements

      Entity must satisfy and confirm the following requirements:

      A net worth exceeding CAD $5,000,000
      or
      Total tangible assets exceeding CAD $25,000,000

      Please refer to the Sign Up Guide for complete details.

      The most recent audited or unaudited year-end financial statements of the trading entity must be submitted to ICE NGX in order to be received by the Membership Committee. The financial statements ca be submitted as an attachment with the ICE NGX Sign-Up from or by email to signup@ngx.com

      ** If financial statements are not available for the trading entity, financial statements from a parent company will suffice as long as the trading entity is majority owned by the parent company. To confirm ownership, ICE NGX will require an organizational chart or a letter from a Corporate Secretary clearly showing this relationship. **

    • The Application form is a standardized questionnaire that requests a variety of information about a company, its affiliates (if applicable), and certain of its representatives.

      Each applicant must submit to ICE NGX a completed Application form.

      The ICE NGX Application form can be downloaded here:

      ICE NGX Application Form (PDF)

      Once the form is completed it can be submitted to ICE NGX by attaching the form to the ICE NGX Sign-Up Form or through email to signup@ngx.com.

      The questions on the Application form include but are not limited to:

      • a list of the officers, directors, and if applicable, principals of the applicant
      • past or current Contracting Party status
      • a list of the regulatory authorities which have authority with respect to the applicant
      • past or current disciplinary action imposed on the applicant or certain of its representatives by regulatory authorities

      ** The Application Form and related information will be considered confidential by ICE NGX **

    • ICE NGX utilizes a standardized legal agreement with all the participating firms that transact through the Exchange.

      The ICE NGX Contracting Party’s Agreement (“CPA”), outlines the terms and conditions for conducting business with ICE NGX.

      The CPA can be downloaded here (PDF)

      Both the trading and the clearing components of ICE NGX are governed by the provisions of the CPA. The agreement has been executed by companies that comprise a cross-section of the North American energy industry, including producers, electricity generators, storage facility operators, industrial consumers, utilities, pipelines, aggregators, marketing firms, hedge funds and financial institutions.

    • Contracting Party’s Admin Form

      The Contracting Party Administration Form (“CPAF”) is to be completed in full by the designated Administrator as indicated on the CPA execution pages.

      The Contracting Party Administration Form can be
      downloaded here (Excel)

      Once the form is completed it can be submitted to ICE NGX by attaching the form to the ICE NGX Sign-Up Form or through email to signup@ngx.com.

      The Contracting Party Administration Form provides ICE NGX with various contact information, pipeline information for desired trading locations, as well as other required information.

      ** The Contracting Party Administration Form and related information will be considered confidential by ICE NGX **

    • All products that are cleared by ICE NGX are traded on the ICE platform.

      All Contracting Parties must also execute the ICE Participants Agreement (“PA”) prior to being enabled to clear with ICE NGX.

      A copy of the PA and execution pages can be obtained from the ICE help desk:

      Email: icehelpdesk@theice.com

      Phone: 770- 738-2101

      ice_logo_whitebkg

      Natural Gas Exchange (“ICE NGX”) and the Intercontinental Exchange, Inc. (“ICE”) have formed a transformative technology and clearing alliance to bring together the respective strengths of ICE NGX, Canada’s leading energy exchange and North America’s leading physical clearing and settlement facility, and ICE, the world’s leading electronic energy marketplace and soft commodities exchange.

      This relationship allows the cleared and bilateral markets operated by ICE NGX to be offered on ICE’s electronic commodities trading platform.

    • ICE NGX’s risk management policy requires that each Contracting Party post sufficient collateral to cover its margin requirement.

      To begin clearing with ICE NGX, collateral deposits may take the form of:

      A letter of Credit (“LC”)

      • Issued by a Bank that is acceptable to ICE NGX (a bank with a rating of A or better and subject to ICE NGX’s discretion).
      • LC must be issued using ICE NGX’s standard format.

      or/and

      Cash

      • Cash can be sent to ICE NGX using the wire instructions.
      • Held in an interest bearing account

      and (once trading begins)

      Previous month account payable by ICE NGX to the Contracting Party

      • Cash can be sent to ICE NGX using the wire instructions.
      • Provided that such previous month account payable will only constitute collateral until the 20th day of the settlement month for physical contracts, and the 1st day of the settlement month for financial contracts.

      A current month account payable by ICE NGX to the Contracting Party.

      A positive variation margin amount (i.e. in the money position)

      Margin requirement are calculated pursuant to the terms of the CPA. Please contact clearing@ngx.com to determine an appropriate amount of collateral to deposit with ICE NGX.

      ** It is important to note that collateral is held to support a specific Contracting Party’s traded positions and can only be used to remedy a performance failure by the Contracting Party itself. **

    • All products that are cleared by ICE NGX are traded on the ICE platform

      Once the Contracting Party has executed the PA, the Contracting Party would require an ICE clearing account to be set up.

      Please follow the steps outlined to set up the ICE Clearing Account:

      1. Request a Clearing Account

      (Must be completed by Super User or Risk Manager access on ICE)
      Log into ICE with user ID and request a Clearing Account from Natural Gas Exchange

      2. Associate Traders to Clearing Account

      (Must be completed by Super User or Risk Manager access on ICE)
      Associate traders to Clearing Account from ICE NGX called “ALL NGX”.

      3. Associate Portfolios with ICE NGX

      (Must be completed by each trader)
      Traders can now associate their portfolios with ICE NGX.

      The ICE Clearing Account Setup outlines the process to request and set up a clearing account with ICE NGX, through ICE, which is required to clear with ICE NGX.

      ** If you have any issues or questions with respect to setting up your ICE account please contact ICE directly at 770-738-2101 or by email at icehelpdesk@theice.com **

    • SIGN UP FORM

      • Company Details

      • If this is a partnership of any form we will also require the name of the managing/general partner that will be executing the agreement on behalf of the partnership
      • Full Legal Name
      • Authorized Representative
      • Email of Authorized Representative


      • Incorporation Details

      • Include the managing partner if applicable.
      • Jurisdiction of which incorporated
      • Certificate of Incorporation


      • Upload Attachments (Optional)

      • The ICE NGX Application Form and ICE NGX Contracting Party Admin Form are found on the previous tabs.
        Once completed, you have the option of attaching the forms via the links below, or through email to signup@ngx.com
      • Company Financials
      • ICE NGX Application Form
      • ICE NGX Contracting Party Admin Form
      • Once the Sign-Up form has been completed and submitted, the NGX Membership Committee will review the application. Following the approval of the application, the CPA execution pages will then be sent to the Contracting Party to complete the process.

       

      ICE NGX WIRE TRANSFER FORM

      The ICE NGX Wire Transfer Form is to be completed once membership has been approved.

      The ICE NGX Wire Transfer Form can be
      downloaded here (pdf)

      Once the form is completed it can be submitted through email to settlement@ngx.com.