Natural Gas Derivatives Portfolio

With the aim of offering market members a range of products and services according to their needs, in the various fields (namely underlying asset and geographical area), OMIP complements its energy product portfolio by listing futures contracts of natural gas with reception or delivery at the Spanish virtual trading point PVB-ES, with financial or physical delivery.

The natural gas contracts are included in the scope of the Derivatives Market, which now comprises products with underlying asset electricity (power) and natural gas, so that market members have a flexible and efficient access to the trading of these products, both of which are cleared in OMIClear clearing house.

OMIP also list a financial Spark Spread trading facility, allowing market participants to synthetically and simultaneously trade natural gas and electricity contracts, converting the theoretical gross margin of a combined cycle natural gas plant.

The main technical specifications are listed in the following table:

Technical Specifications

Technical Specifications

PVB-ES NG Financial Futures

PVB-ES NG Physical Futures

Contract Type

Futures

Futures

Delivery

Financial

Physical

Exchange Trading
(Continuous)

Yes

No

OTC Registration
(Bilateral trades)

Yes

Yes

Contract Maturities

D, WE, WD, BOM, M, Q, SS, Y

D, WE, WD, BOM, M, Q, SS, Y

Unit

MWh/hour

MWh/day

Volume Tick

1 contract

1 contract

P&L in trading period

MtM Cash Settled

MtM Cash Settled

Cash Payment
Frequency

Daily

Daily

Index

PVB-ES
("Precio de Referencia Diario" MIBGAS)

n/a

Cascading

Yes

Yes

VAT

No

Yes (DSV)

Fees

More information about fees and prices here.