CSI Symbol NGL -- A bit more confusion

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Roundtable Knight
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CSI Symbol NGL -- A bit more confusion

Post by jklatt »

Again, building an extensive futures dictionary. I'm probably getting burnt out dealing with all of the details, but this one is another one that looks slightly confusing to me and I thought I'd ask about it.

I come away with:

Contract Size: 1000 Therms
Currency: GBP
Big Point Value: GBP10000 (ten thousand!?, CSI lists 300?)
Minimum Lot Size: 5 (CSI data's volume figures look like they're in multiples of 5 as well).

Again, confused about when delivery can/will occur. Delivery is physical but they don't say when you can deliver. So I'm not listing any First Notice Date details in my dictionary.

https://www.theice.com/productguide/Pro ... specId=910
Roundtable Knight
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Post by leslie »

Hi Klatt Attack

Look at the contract size CAREFULLY.

"Contract Size: Multiples of 5 lots of 1,000 therms per lot of natural gas per day."

Now look at
"Delivery/Settlement Basis

Matching Acquiring and Disposing Trade Nominations (buyer from ICEU, seller to ICEU) are input by buyer and seller to National Grid Transco via Gemini before 18:30 on the business day prior to delivery. Delivery takes place in kilowatt-hours (29.3071 kilowatt hours per therm)."

Gives you some reason to be CAREFUL.

Check liquidity. :-)

Do you know anyone (a) who is trading it (b) making money at it (c) not a member of the exchange?

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Post by zacharyoxman »

We are currently trading IPE Nat Gas (NGL) and have been for about 2 years.

You have to trade it in 5 lot increments, and the orders are placed through ICE/IPE.

Despite what CSI says, the price is XX.XX...(no thousandths decimal)

I have always rolled on open interest on CSI and have never ran into a delivery issue.

Feel free to post/email or PM me with any other questions
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Point Value

Post by Bollinger »

I haven't traded NGL in years, but from what I remember the point value also changes based on the number of days in the delivery month -- if memory serves, it was 10 GBP X number of days in calendar month. So, for a 31 day month the point value is 310 GBP.

Having pulled that out of my memory, I just confirmed that by looking at the contract's specs on the ICE website.

https://www.theice.com/productguide/Pro ... specId=910
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