ICE UK Nat Gas (NGL)
Posted: Thu Sep 01, 2011 11:01 pm
I saw klatt_attack's post about NGL, so I guess I'm not the first to get frustrated with this one...
Anyway, ICE says UK Nat Gas is denominated in GBP/therm, and the contract size is 1000 therms/day, for however many days are in the delivery month. This we know.
CSI's factsheet says ALMOST the same thing - CSI uses pence/therm.
AND YET, both ICE and CSI will quote the price as ,e.g., 69.80?!!
Should I change the factsheet so it reads as 6980, or am I missing something here? The BPV value of 300 GBP seems to suggest such a change (assuming a 30 day month, of course).
Thanks in advance for any assistance from the NGL traders here.
Anyway, ICE says UK Nat Gas is denominated in GBP/therm, and the contract size is 1000 therms/day, for however many days are in the delivery month. This we know.
CSI's factsheet says ALMOST the same thing - CSI uses pence/therm.
AND YET, both ICE and CSI will quote the price as ,e.g., 69.80?!!
Should I change the factsheet so it reads as 6980, or am I missing something here? The BPV value of 300 GBP seems to suggest such a change (assuming a 30 day month, of course).
Thanks in advance for any assistance from the NGL traders here.