OVERVIEW

NGX lists over 6,000 markets for clearing and/or trading over 150 physical and financial natural gas and electricity products at over 40 geographic locations ("hubs") with up to 50 defined time strips at each market.

Each market is specified in keeping with the standard specifications of commonly traded over-the-counter (OTC) contracts, and has three components:

  1. Hub

    2. - The geographical location with which it is associated (in the case of electricity products, a defined set of hours on the grid).

  2. Product

    3. - The formula indicating what the buyer and seller agree to pay and/or deliver upon settlement.
    - Note that not all products are offered at all hubs, and some products are specific to a particular hub (e.g. products relating to a specific index).

  3. Terms/Strips

    4. - The period over which settlement is to be performed, including the start date and duration.

Note that there is no standard contract size on NGX, as on some other exchanges - the volume traded is determined at the time the trade is executed subject to certain minimum size and tick increments.

NGX also clears select US physical gas markets that are listed on ICE.

An Excel File containing all product information is available.
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