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Home / Education / Markets / Energy Futures Overview / Natural Gas Futures

Natural Gas Futures

Flame Natural gas is formed either by methane-releasing microorganisms in swamps or by pressurizing organic material deep underground. These two processes are geographically rare; however, despite such particular factors for natural gas formation, there are three major reserves in Canada, the U.S., and Russia. Utilized in almost everything from major electricity generation to fertilizers, natural gas has many applications and, perhaps, a bright future in green transportation. Although notoriously volatile in markets, natural gas has consistently grown to nearly a third of world energy consumption over the past decade.

Natural Gas Futures Contract Specifications
Contract Size 10,000 million British thermal units (mmBtu)
Price Quotation U.S. dollars and cents per mmBtu.
Grade And Quality Natural Gas meeting the specifications set forth in the FERC-approved tariff of Sabine Pipe Line Company as then in effect at the time of delivery shall be deliverable in satisfaction of futures contract delivery obligations.
Trading Hours CME Globex: Sunday – Friday 6:00 p.m. – 5:15 pm ET with a 45-minute break each day beginning at 5:15 pm ET
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 pm ET with a 45-minute break each day beginning at 5:15 pm ET
Minimum Price Fluctuation $0.001 per MMBtu
Product Code CME Globex: NG
CME ClearPort: NG
Clearing: NG
TAS: NGT
Listed Contracts The current year plus the next twelve calendar years. A new calendar year will be added following the termination of trading in the December contract of the current year.
Settlement Method Deliverable
Last Trade Date Trading of any delivery month shall cease three (3) business days prior to the first day of the delivery month. In the event that the official Exchange holiday schedule changes subsequent to the listing of a Natural Gas futures, the originally listed expiration date shall remain in effect. In the event that the originally listed expiration day is declared a holiday, expiration will move to the business day immediately prior.
Trade At Marker Or Trade At Settlement Rules Trading at settlement is available for spot (except on the last trading day), 2nd, 3rd and 4th months and subject to the existing TAS rules. Trading in all TAS products will cease daily at 2:30 PM Eastern Time. The TAS products will trade off of a “Base Price” of 0 to create a differential (plus or minus 10 ticks) versus settlement in the underlying product on a 1 to 1 basis. A trade done at the Base Price of 0 will correspond to a “traditional” TAS trade which will clear exactly at the final settlement price of the day.
Settlement Procedures Natural Gas Futures Settlement Procedures
Exchange Rules These contracts are listed with, and subject to, the rules and regulations of NYMEX
Source: CME Group

Last updated September 2015

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The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI does business as Daniels Trading/Top Third/Futures Online. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI.

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