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
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 |
n/a |
| Cascading | Yes |
Yes |
| VAT | No |
Yes (DSV) |
Fees
More information about fees and prices here.