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CSI Symbol NGL -- A bit more confusion

Posted: Fri Apr 23, 2010 3:42 pm
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

Posted: Tue May 17, 2011 7:14 am
by longmemory
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?

L

Posted: Tue May 17, 2011 5:56 pm
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

Point Value

Posted: Sat Jun 25, 2011 9:32 am
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