The NGX Market Operations team provides NGX clients with customer service and support 7 days a week and is the first line of support for your customer service needs. For after-hours/on-call support for delivery issues please contact the operations team at 403-974-HELP (4357).
Nominations, Scheduling and Backstopping
Market Operations handles the scheduling of physical traded natural gas and confirms delivery on NGX hubs. To ensure firm delivery for all NGX transactions, unique backstopping procedures are used in the event of a delivery failure. Failures are corrected the same gas day to ensure NGX trades are the most risk-free transactions available.
Index Verification and Publication
NGX publishes a variety of natural gas, crude oil and electricity indices, derived from trading done on multiple trading platforms. Market Ops performs daily processes to ensure all energy indices are accurate and verified for use by NGX client base. Monthly publications based around the NGX primary gas indices are constructed by the operations team and are available for all NGX customers.
Market Operations calculates and publishes daily closing marks (settlements) for over 20,000 natural gas, power and crude oil trading products. Used in mark-to-market and variation margin calculations these settlement marks are applied daily to all NGX position held by NGX clients.
Operation of Secondary Markets
Independent of the main WebICE platform NGX Market Operations operates a number of secondary markets. The Alberta Watt-Exchange acts as a platform for the Alberta Electric System Operator to procure reserve power for the Alberta Market. The NGX Power Auction System is another independent system operated by the Market Operations group which allows for the auction of customized electricity products.
Market Ops works closely with internal IT teams to provide final business testing of all new customer facing technical initiatives. Operations manages customer notification and feedback, ensuring any customer issues are communicated to NGX IT to ensure products are refined to provide the best possible tool for NGX clients.
In the event that a trader has difficulty accessing the WebICE platform the NGX Market Operations Group can act as a Market Agent on the trader’s behalf. The trader can contact the NGX Help Desk at 403-974-HELP (4357). The Market Agency process is outlined below:
- The NGX Market Operator logs on to WebICE using the ID and password supplied by an authorized trader. A trader will not be logged on without providing the password.
- The trader verbally instructs the Operator to input an order. All limits and permission restrictions will still be in effect.
- The NGX Market Operator confirms the order details with the trader over a recorded telephone line, before releasing to the market.
- The order and/or trade confirmation message that appears after release are read to the trader over a recorded telephone line.