Powernext ® Commodities Market Notice 1/89 Powernext ® Commodities - Market Notices - March 22 nd 2017
Powernext® Commodities Market Notice
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Powernext® Commodities
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Market Notices
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March 22nd 2017
Powernext® Commodities Market Notices 22/032017
Powernext® Commodities Market Notice
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CONTENTS
TABLE OF MARKET NOTICES ................................................................................................................................................ 3
POWERNEXT® COMMODITIES MARKET NOTICES .............................................................................................................. 7
APPLICATION DOCUMENTS ........................................................................................................................................................ 8 PRICE COMMITTEE ................................................................................................................................................................... 9 RULES OF CONDUCT - DEFINITIONS ......................................................................................................................................... 10 OFF-ORDER BOOK INTEREST REGISTRATION (TRADE REGISTRATION) SYSTEMS ........................................................................ 11
PEGAS SPOT MARKET NOTICES ......................................................................................................................................... 13
PRODUCTS’ AND SPREADS’ SPECIFICATIONS ............................................................................................................................ 14 FEES, CHARGES, INVOICES, VAT ............................................................................................................................................. 28 TRADING HOURS, BUSINESS DAYS AND TRADING CALENDARS .................................................................................................. 31 PARAMETERS SETTING NOTICE ............................................................................................................................................... 33 METHODOLOGY FOR ESTABLISHING PEGAS SPOT EOD PRICE REFERENCES ............................................................................ 36 METHODOLOGY FOR ESTABLISHING PEGAS SPOT REFERENCE PRICES ..................................................................................... 43 TRADE LIMITS ON PEGAS SPOT ............................................................................................................................................. 45 AUCTION TRADING SESSION ON PEGAS CEGH VTP WITHIN-DAY ........................................................................................... 47
PEGAS NON-MTF MARKET NOTICES .................................................................................................................................. 48
CONTRACTS AND SPREADS BETWEEN CONTRACTS’ SPECIFICATIONS ........................................................................................ 49 FEES, CHARGES, INVOICES, VAT ............................................................................................................................................ 61 PARAMETERS AND TECHNICAL PROVISIONS .............................................................................................................................. 63 CLOSING PRICE METHODOLOGY .............................................................................................................................................. 66 TRADING HOURS, BUSINESS DAYS AND CONTRACTS CALENDARS ............................................................................................. 73
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TABLE OF MARKET NOTICES
Market Notice Date of publication
Entry into force
Contents
COMMODITIES-2008-02 13/11/2008 26/11/2008 Powernext® Gas Spot / Parameters Setting Notice
COMMODITIES-2009-14 15/09/2009 24/09/2009 Powernext® Gas Spot / Parameters Setting Notice
COMMODITIES-2009-15 15/09/2009 24/09/2009 Powernext® Gas Spot / Methodology for establishing Powernext®Gas Spot EOD Price References
COMMODITIES-2009-20 23/11/2009 1/12/2009 Deactivation of the Powernext® Balancing GRTgaz Market Segment
COMMODITIES-2010-06 26/03/2010 01/04/2010 Closure of the Powernext® Balancing GRTgaz Market Segment
COMMODITIES-2010-13 30/04/2010 01/05/2010 Powernext® Gas Spot / Parameters Setting Notice
COMMODITIES-2010-23 20/10/2010 21/10/2010 Powernext® Gas Spot / Parameters Setting Notice
COMMODITIES-2010-24 20/10/2010 21/10/2010 Powernext® Gas Spot / Methodology for establishing Powernext®Gas Spot EOD Price References
COMMODITIES-2010-26 25/11/2010 26/11/2010 Powernext® Gas Spot / Parameters Setting Notice
COMMODITIES-2011-02 26/04/2011 27/04/2010 Powernext® Gas Spot / Parameters Setting Notice (Update)
COMMODITIES-2011-05 16/05/2011 25/05/2011 Powernext® Gas Spot / Parameters Setting Notice (Update)
COMMODITIES-2011-06 16/05/2011 25/05/2011 Powernext® Gas Spot / Methodology for establishing Powernext® Gas Spot EOD Price References (Update)
COMMODITIES-2011-07 16/05/2011 25/05/2011 Powernext® Gas Spot / Methodology for establishing Powernext®Gas Spot DAP Price References (Update)
COMMODITIES-2011-16 14/12/2011 15/12/2011 Powernext® Gas Spot / Parameters Setting Notice
COMMODITIES-2011-17 14/12/2011 15/12/2011 Powernext® Gas Spot / Methodology for establishing Powernext®Gas Spot EOD Price References (Update)
COMMODITIES-2011-19 21/12/2011 22/12/2012 Powernext® Gas Spot / Parameters Setting Notice
COMMODITIES-2012-02 09/01/2012 10/01/2012 Powernext® Energy Savings / Parameters Setting Notice
COMMODITIES-2012-08 22/05/2012 29/05/2012 Powernext® Energy Savings / Modification of Powernext®Energy Savings Annex n°2
COMMODITIES-2012-12 26/06/2012 03/07/2012 Powernext® Gas Spot / Parameters Setting Notice
COMMODITIES-2012-13 26/06/2012 03/07/2012 Powernext® Gas Spot / Methodology for establishing Powernext®Gas Spot EOD Price References (Update)
COMMODITIES-2012-21 25/09/2012 01/10/2012 Powernext® Gas Spot / Methodology for establishing Powernext®Gas Spot EOD Price References (Update)
COMMODITIES-2012-26 10/12/2012 21/12/2012 Powernext® Gas Spot / Parameters Setting Notice
COMMODITIES-2012-27 10/12/2012 21/12/2012 Methodology for establishing Powernext® Gas Spot EOD Price References (Update)
COMMODITIES-2013-02 30/01/2013 01/02/2013 Powernext® Gas Spot / Parameters Setting Notice
COMMODITIES-2013-03 30/01/2013 01/02/2013 Powernext® Gas Spot / Methodology for establishing Powernext® Gas Spot EOD Price References (Update)
COMMODITIES-2013-12 01/08/2013 28/08/2013 Powernext®Commodities / Application Documents
COMMODITIES-2013-13 01/08/2013 28/08/2013 Powernext®Commodities / Price Committee
COMMODITIES-2013-14 01/08/2013 28/08/2013 Powernext®Commodities / Rules of Conduct – Definitions
COMMODITIES-2013-15 01/08/2013 28/08/2013 Powernext®Commodities / Technical provisions
COMMODITIES-2013-16 01/08/2013 28/08/2013 Powernext®Gas Spot / Products and Spreads between Products Specifications
COMMODITIES-2013-17 01/08/2013 28/08/2013 Powernext®Gas Spot / Fees, charges, invoices, VAT
COMMODITIES-2013-18 01/08/2013 28/08/2013 Powernext®Gas Spot / Parameters setting notice
COMMODITIES-2013-19 01/08/2013 28/08/2013 Powernext®Gas Spot / Methodology for establishing Powernext®Gas Spot EOD Price References
COMMODITIES-2013-20 01/08/2013 28/08/2013 Powernext®Gas Spot / Methodology for establishing Powernext®Gas Spot DAP Price References
COMMODITIES-2013-21 01/08/2013 28/08/2013 Powernext®Energy Savings / CEE Product Specifications
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COMMODITIES-2013-22 01/08/2013 28/08/2013 Powernext®Energy Savings / Fees, charges, invoices, VAT for Powernext SA services
COMMODITIES-2013-23 01/08/2013 28/08/2013 Powernext®Energy Savings / Self-billing mandate for CEE sales
COMMODITIES-2013-24 01/08/2013 28/08/2013 Powernext®Energy Savings / Parameters setting notice
COMMODITIES-2013-25 09/08/2013 12/08/2013 Powernext®Gas Spot / Methodology for establishing Powernext®Gas Spot EOD Price References
COMMODITIES-2013-26 27/08/2013 28/08/2013 Powernext®Gas Spot / Products and Spreads between Products Specifications
COMMODITIES-2013-29 22/11/2013 28/11/2013 Powernext®Gas Spot / Products and Spreads between Products Specifications
COMMODITIES-2013-30 22/11/2013 28/11/2013 Powernext®Gas Spot / Methodology for establishing Powernext®Gas Spot EOD Price References
COMMODITIES-2013-31 22/11/2013 28/11/2013 Powernext®Gas Spot / Methodology for establishing Powernext®Gas Spot DAP Price References
COMMODITIES-2013-33 20/12/2013 23/12/2013 Powernext®Gas Spot / Parameters setting notice
COMMODITIES-2014-02 24/01/2014 27/01/2014 Powernext®Gas Spot / Products and Spreads between Products Specifications
COMMODITIES-2014-05 30/04/2014 01/05/2014 Powernext®Gas Spot / Fees, charges, invoices, VAT
COMMODITIES-2014-12 07/07/2014 09/07/2014 Powernext®Gas Spot / Technical Provisions
COMMODITIES-2014-13 07/07/2014 09/07/2014 Powernext®Gas Spot / Products and Spreads between Products Specifications
COMMODITIES-2014-14 07/07/2014 09/07/2014 Powernext®Gas Spot / Fees, charges, invoices, VAT
COMMODITIES-2014-15 07/07/2014 09/07/2014 Powernext®Gas Spot / Business days and calendars
COMMODITIES-2014-16 07/07/2014 09/07/2014 Powernext®Gas Spot / Parameters setting notice
COMMODITIES-2014-17 07/07/2014 09/07/2014
Powernext®Gas Spot / Methodology for establishing Powernext®Gas Spot EOD Price References
COMMODITIES-2014-27 17/12/2014 01/01/2015 Powernext® Commodities / Membership documents
COMMODITIES-2014-28 17/12/2014 01/01/2015 Powernext® Commodities / Price Committee
COMMODITIES-2014-29 17/12/2014 01/01/2015 PEGAS Spot / Products and Spreads between Products Specifications
COMMODITIES-2014-30 17/12/2014 01/01/2015 PEGAS Spot / Fees, charges, invoices, VAT
COMMODITIES-2014-31 17/12/2014 01/01/2015 PEGAS Spot / Trading Hours, Business Days and Calendars
COMMODITIES-2014-32 17/12/2014 01/01/2015 PEGAS Spot / Parameters setting notice
COMMODITIES-2014-33 17/12/2014 01/01/2015 PEGAS Spot / Methodology for establishing PEGAS Spot EOD Price References
COMMODITIES-2014-34 17/12/2014 01/01/2015 PEGAS Spot / Methodology for establishing PEGAS Price References
COMMODITIES-2015-08 25/03/2015 26/03/2015 PEGAS Spot / Products and Spreads between Products Specifications
COMMODITIES-2015-09 25/03/2015 26/03/2015 PEGAS Spot / Fees, charges, invoices, VAT
COMMODITIES-2015-10 25/03/2015 26/03/2015 PEGAS Spot / Trading Hours, Business Days and Calendars
COMMODITIES-2015-11 25/03/2015 26/03/2015 PEGAS Spot / Parameters setting notice
COMMODITIES-2015-12 25/03/2015 26/03/2015 PEGAS Spot / Methodology for establishing PEGAS Spot EOD Price References
COMMODITIES-2015-13 25/03/2015 26/03/2015 PEGAS Spot / Methodology for establishing PEGAS Price References
COMMODITIES-2015-19 04/05/2015 05/05/2015 PEGAS Spot / Trade Limits on PEGAS Spot
COMMODITIES-2015-29 25/09/2015 01/10/2015 PEGAS Spot / Products and Spreads between Products Specifications
COMMODITIES-2015-36 13/11/2015 17/11/2015 PEGAS Spot / Products and Spreads between Products Specifications (Locational Products)
COMMODITIES-2015-37 13/11/2015 17/11/2015 PEGAS Spot / Fees, charges, invoices, VAT (Locational Products)
COMMODITIES-2015-41 23/12/2015 01/01/2016 PEGAS Spot / Fees, charges, invoices, VAT (new price list)
COMMODITIES-2015-42 23/12/2015 01/01/2016 PEGAS Spot / Trading Hours, Business Days and Calendars (2016 calendars)
COMMODITIES-2015-43 23/12/2015 01/01/2016 PEGAS Spot / Parameters setting notice (precisions)
COMMODITIES-2015-44 23/12/2015 01/01/2016 PEGAS Spot / Methodology for establishing PEGAS Spot EOD Price References (precisions)
COMMODITIES-2016-06 24/03/2016 30/03/2016 PEGAS Spot / Products and Spreads between Products Specifications (Locational and hourly Products)
COMMODITIES-2016-07 24/03/2016 30/03/2016 PEGAS Spot / Fees, charges, invoices, VAT (Locational and hourly Products)
COMMODITIES-2016-08 24/03/2016 30/03/2016 PEGAS Spot / Trading Hours, Business Days and Calendars (Hourly products)
COMMODITIES-2016-09 24/03/2016 30/03/2016 PEGAS Spot / Parameters setting notice (Hourly products)
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COMMODITIES-2016-21 28/06/2016 01/07/2016 Powernext® Commodities / Application documents (References)
COMMODITIES-2016-22 28/06/2016 01/07/2016 Powernext® Commodities / Price Committee (References)
COMMODITIES-2016-23 28/06/2016 01/07/2016 Powernext® Commodities / Rules of Conduct – Definitions (References)
COMMODITIES-2016-24 28/06/2016 01/07/2016 Powernext® Commodities / Off-Order Book interest registration (trade registration) systems
COMMODITIES-2016-25 28/06/2016 01/07/2016 PEGAS Spot / Fees, charges, invoices, VAT (Introduction of Regulated market and Non-MTF notions)
COMMODITIES-2016-26 28/06/2016 01/07/2016 PEGAS Spot / Trading hours, Business days and Trading calendars (References)
COMMODITIES-2016-27 28/06/2016 01/07/2016 PEGAS Non-MTF / Contracts and spreads between contracts’ specifications (Non-MTF Products)
COMMODITIES-2016-28 28/06/2016 01/07/2016 PEGAS Non-MTF / Fees, charges, invoices, VAT (Introduction of Regulated market and Non-MTF notions)
COMMODITIES-2016-29 28/06/2016 01/07/2016 PEGAS Non-MTF / Parameters and Technical Provisions (Non-MTF Products)
COMMODITIES-2016-30 28/06/2016 01/07/2016 PEGAS Non-MTF / Closing Price Methodology (Non-MTF Products)
COMMODITIES-2016-31 28/06/2016 01/07/2016 PEGAS Non-MTF / Trading hours, Business days and Contracts Calendars (Non-MTF Products)
COMMODITIES-2016-54 19/09/2016 22/09/2016 PEGAS Spot / Fees, charges, invoices, VAT (Update on VAT rules)
COMMODITIES-2016-55 19/09/2016 22/09/2016 PEGAS Spot / Trading Hours, Business Days and Calendars (Modification of Spreads between Products trading hours)
COMMODITIES-2016-56 19/09/2016 22/09/2016 PEGAS Non-MTF / Fees, charges, invoices, VAT (Update on VAT rules)
COMMODITIES-2016-75 16/11//2016 17/11/2016 PEGAS Spot / Contracts and spreads between contracts’ specifications (Opening of the ETF hub)
COMMODITIES-2016-76 16/11//2016 17/11/2016 PEGAS Spot / Fees, charges, invoices, VAT (Opening of the ETF hub)
COMMODITIES-2016-77 16/11//2016
17/11/2016 PEGAS Spot / Trading hours, business days and trading calendars (modification of opening hours)
COMMODITIES-2016-78 16/11//2016 17/11/2016 PEGAS Spot / Parameters setting notice (Opening of the ETF hub)
COMMODITIES-2016-79 16/11//2016
17/11/2016 PEGAS Spot / Methodology for establishing PEGAS Spot EOD price references (Opening of the ETF hub)
COMMODITIES-2016-80 16/11//2016
17/11/2016 PEGAS Spot / Methodology for establishing PEGAS Spot reference prices (Opening of the ETF hub)
COMMODITIES-2016-81 16/11//2016
17/11/2016 PEGAS Non-MTF / Contracts and spreads between contracts’ specifications (Opening of the ETF hub and of an additional maturity)
COMMODITIES-2016-82 16/11//2016 17/11/2016 PEGAS Non-MTF / Fees, charges, invoices, VAT (Opening of the ETF hub)
COMMODITIES-2016-83 16/11//2016 17/11/2016 PEGAS Non-MTF / Parameters setting notice (Opening of the ETF hub)
COMMODITIES-2016-84 16/11//2016 17/11/2016 PEGAS Non-MTF / Closing Price Methodology (Opening of a new hub ETF, of an additional maturity and modification of the parameters of the closing price methodology on NCG and GASPOOL)
COMMODITIES-2016-85 16/11//2016 17/11/2016 PEGAS Non-MTF / Trading hours, business days and trading calendars (Opening of a new hub ETF, modification of opening hours and addition of 2017 contracts)
COMMODITIES-2016-89 25/11/2016 01/12/2016 PEGAS Spot / Contracts and spreads between contracts’ specifications (Opening of the CEGH VTP hub)
COMMODITIES-2016-90 25/11/2016 01/12/2016 PEGAS Spot / Fees, charges, invoices, VAT (Opening of the CEGH VTP hub)
COMMODITIES-2016-91 25/11/2016 01/12/2016 PEGAS Spot / Parameters setting notice (Opening of the CEGH VTP hub)
COMMODITIES-2016-92 25/11/2016 01/12/2016 PEGAS Spot / Methodology for establishing PEGAS Spot EOD price references (Opening of the CEGH VTP hub)
COMMODITIES-2016-93 25/11/2016 01/12/2016 PEGAS Spot / Methodology for establishing PEGAS Spot reference prices (Opening of the CEGH VTP hub)
COMMODITIES-2016-94 25/11/2016 01/12/2016 PEGAS Spot / Trade limits on PEGAS Spot (Opening of the CEGH VTP hub)
COMMODITIES-2016-95 25/11/2016 01/12/2016 PEGAS Spot/ Auction Trading Session on PEGAS CEGH VTP Within-Day (Opening of the CEGH VTP hub)
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COMMODITIES-2016-96 25/11/2016 01/12/2016 PEGAS Non-MTF / Contracts and spreads between contracts’ specifications (Opening of the CEGH VTP hub)
COMMODITIES-2016-97 25/11/2016 01/12/2016 PEGAS Non-MTF / Fees, charges, invoices, VAT (Opening of the CEGH VTP hub)
COMMODITIES-2016-98 25/11/2016 01/12/2016 PEGAS Non-MTF / Parameters setting notice (Opening of the CEGH VTP hub)
COMMODITIES-2016-99 25/11/2016 01/12/2016 PEGAS Non-MTF / Closing Price Methodology (Opening of a new hub CEGH VTP)
COMMODITIES-2016-100 25/11/2016 01/12/2016 PEGAS Non-MTF / Trading hours, business days and trading calendars (Opening of a new hub CEGH VTP)
COMMODITIES-2016-107 23/12/2016 23/12/2016 PEGAS Spot / Trading hours, business days and trading calendars (modification of some delivery dates )
COMMODITIES-2017-02 19/01/2017 24/01/2017 PEGAS Spot / Methodology for establishing PEGAS Spot EOD price references (Integration of Synthetic Prices)
COMMODITIES-2017-03 19/01/2017 24/01/2017 PEGAS Spot / Methodology for establishing PEGAS Spot reference prices references (Integration of Synthetic Prices)
COMMODITIES-2017-04 19/01/2017 24/01/2017 PEGAS Non-MTF / Contracts and spreads between contracts’ specifications (Integration of Spreads between Products of the same maturity)
COMMODITIES-2017-05 19/01/2017 24/01/2017 PEGAS Non-MTF / Fees, charges, invoices, VAT (Trading fees on Spreads between Products of the same maturity)
COMMODITIES-2017-06 19/01/2017 24/01/2017 PEGAS Non-MTF /Parameters and technical provisions (Removal of EGIX)
COMMODITIES-2017-07 19/01/2017 24/01/2017 PEGAS Non-MTF / Closing Price Methodology (Integration of Synthetic Prices)
COMMODITIES-2017-08 19/01/2017 01/02/2017 PEGAS Non-MTF / Fees, charges, invoices, VAT (Trading fees on Transactions resulting from Off-Order Book Interests)
COMMODITIES-2017-09 14/02/2017 14/02/2017 PEGAS Spot / Trading hours, business days and trading calendars (modification of delivery dates)
COMMODITIES-2017-19 20/03/2017 22/03/2017 PEGAS Non-MTF / Contracts and spreads between contracts’ specifications (Modification of the Price Tick for Orderbook Interest)
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POWERNEXT® COMMODITIES MARKET NOTICES
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Powernext® Commodities Market Notice – Application Documents
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APPLICATION DOCUMENTS
POWERNEXT® COMMODITIES Notice n° COMMODITIES-2016-21
28/06/2016
Pursuant to Article 1.2.1.1.5 and 1.2.1.1.6 of the Powernext® Commodities Market Rules, Applicants must provide the following documents in order to be admitted on Powernext® Commodities:
the Know Your Customer (KYC) form, including direct and indirect shareholders and a description of the technical and human resources to be allocated to trading on Powernext® Commodities;
identification form including about the Applicant (registered office address and VAT number);
a list of the senior managers and other representatives with the power to sign all of the documents relating to market operations and contracts (authorised signatures);
a copy of the annual report, company registration, articles of association and the senior managers’ powers, prepared in accordance with the legislation of the Applicant’s home country.
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Powernext® Commodities Market Notice – Price Committee
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PRICE COMMITTEE
POWERNEXT® COMMODITIES Notice n° COMMODITIES-2016-22
28/06/2016
Pursuant to Article 1.6.5 of the Powernext® Commodities Market Rules, Powernext SA hereby publishes the procedures for designating members of the Price Committee and the functioning of the Price Committee:
Any Member may be contacted by Powernext SA to participate to a Price Committee, in order to provide either price or bid ask spread;
Except under exceptional circumstances, at least three Members are contacted by phone, or by any other mean, and at least two answers from Members are necessary for the Price Committee to be valid;
Powernext SA carries out the average of the price information provided by the Price Committee and reserves the right to exclude the highest and lowest prices given.
Price Committees can be organized, inter alia, in the following circumstances:
Determination of the Price References as defined in the Market Notice Price References Methodology;
Determination of the Price References in case of Transaction cancellation.
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PEGAS Spot – Market Notices
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RULES OF CONDUCT - DEFINITIONS
POWERNEXT® COMMODITIES Notice n° COMMODITIES-2016-23
28/06/2016 Pursuant to Article 1.2.3.2 of the Powernext® Commodities Market Rules, Powernext SA hereby publishes the definitions of the terms « attempted market manipulation», « market manipulation » and« inside information ». « Attempted market manipulation » means: (i) entering into any Transaction, issuing any Order to trade or taking any other action relating to a Product with the intention of: giving false or misleading signals as to the supply of, demand for, or price of Products; securing the price of one or several Products at an artificial level, unless the person who entered into the Transaction or issued the Order to trade establishes that his reasons for doing so are legitimate and that Transaction or Order to trade conforms to accepted market practices on Powernext® Commodities; or employing a fictitious device or any other form of deception or contrivance which gives, or is likely to give, false or misleading signals regarding the supply of, demand for, or price of Products ; or (ii) disseminating information through the media, including the internet, or by any other means with the intention of giving false or misleading signals as to the supply of, demand for, or price of Products. « market manipulation » means: (i) entering into any Transaction or issuing any Order to trade a Product which: gives, or is likely to give, false or misleading signals as to the supply of, demand for, or price of Products; secures or attempts to secure, by a person, or persons acting in collaboration, the price of one or several Products at an artificial level, unless the person who entered into the Transaction or issued the Order to trade establishes that his reasons for doing so are legitimate and that that Transaction or Order to trade conforms to accepted market practices on Powernext® Commodities; or employs or attempts to employ a fictitious device or any other form of deception or contrivance which gives, or is likely to give, false or misleading signals regarding the supply of, demand for, or price of Products ; or (ii) disseminating information through the media, including the internet, or by any other means, which gives, or is likely to give, false or misleading signals as to the supply of, demand for, or price of Products, including the dissemination of rumours and false or misleading news, where the disseminating person knew, or ought to have known, that the information was false or misleading. « Inside information » means information of a precise nature which has not been made public, which relates, directly or indirectly, to one or more Products and which, if it were made public, would be likely to significantly affect the prices of those Products.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot – Market Notices
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OFF-ORDER BOOK INTEREST REGISTRATION (TRADE REGISTRATION) SYSTEMS
POWERNEXT® COMMODITIES
Notice n° COMMODITIES-2016-24 28/06/2016
Pursuant to Article 1.2.2.2.2.and 1.5.2.3 of the Market Rules of the Powernext® Commodities, Powernext SA hereby describes:
the Off-order Book Interests Registration Systems available on Powernext® Commodities;
the conditions for accessing these Systems;
the conditions of validation of those Off-Order Book Interests.
1. OFF-ORDER BOOK INTERESTS REGISTRATION SYSTEMS AVAILABLE ON POWERNEXT® COMMODITIES Powernext SA makes available to Members and Authorized Registering Brokers the following Off-order Book Interests Registration Systems:
Systems under the responsibility of Powernext SA: o PEGAS OTC web
Systems under the responsibility of a third party software provider: o EUREX Clearing o Trayport « Clearing Link » ; o EFETnet « eXRP ».
These Systems are made available on:
PEGAS Non-MTF.
Authorized Registering Brokers must indicate to Powernext SA which Off-order Book Interests Registration System(s) they wish to use.
2. CONDITIONS FOR ACCESSING OFF-ORDER BOOK INTERESTS REGISTRATION SYSTEMS
2.1 For PEGAS OTC Web Powernext SA provides Members and Authorized Registering Brokers with an identifier and a password in order to allow connection and identification on PEGAS OTC Web, input of the Off-Order Book Interests to be registered and counterparties to those Interests, and the display of the status of operations.
2.2 For EUREX Clearing Powernext SA provides Members under request with an identifier and a password in order to allow connection and identification on EUREX Clearing, input of Off-Order Book Interests and counterparties to those Interests and display of the status of operations.
2.3 For Trayport « Clearing Link » and EFETnet « eXRP » Powernext SA also makes available to its Members Registration of Off-Order Book Interests through external automatised and integrated solutions, connected to the order matching internal systems of their Registering Brokers (or « Straight Through Process »): « Clearing Link » and « eXRP ».
In order to be able to use these Systems (« Clearing Link » and « eXRP »), Registering Brokers must have signed a specific agreement with the Clearing House.
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If using Trayport “Clearing Link” and/or EFETnet “eXRP” Registering Systems, Registering Brokers guarantee towards Powernext that :
they have obtained authorisation from their respective clients, which are Members of Powernext Commodities, with regard to the use of the Systems and that all data linked to Off-Order Book Interests routed via these Systems to ECC are based on a valid agreement between the Registering Broker and its respective clients;
they provide ECC on behalf of Powernext with a continuously updated list in a format determined by ECC containing the Powernext Members with whom the Registering Broker concluded a before mentioned agreement (“white list”);
through their internal organisation they ensure that Off-Order Book Interests are only registered in the name of such Powernext Commodities Members with whom they have concluded a before mentioned agreement and that every entry by the Registering Brokers into these Systems is carried out in accordance with this agreement;
by the before mentioned agreement the liability risk for erroneous registrations on Powernext Commodities caused by the Brokers are allotted entirely to them;
the process of order matching within the internal system of the Registering Brokers cannot be manipulated and – to ensure correct submission of Off-Order Book Interests, trade details, and trade processing flags – any component, especially but not limited to the broker’s internal trading system, back-office system, utilised Registration Systems and other software solutions, involved in submission of trade details, the setting of trade processing flags, capturing and submitting trades into the registration of Off-Order Book Interests process, have been sufficiently tested and that due diligence is followed in development, change management, and operations of said components.
If using Trayport “Clearing Link” and/or EFETnet “eXRP” Registering Systems, Registering Brokers and Members agree that the use of those Registration Systems is effected at their own risk and the System Providers of “Clearing Link” and “eXRP” are responsible for the operability and functionalities of these Systems. Consequently, Powernext and ECC do not assume any responsibility and liability for failure of functionalities of these Systems and the correctness, completeness and validity of the transactions and declarations transmitted via these Systems. Powernext and ECC disclaim any warranties with respect to the performance of or in connection to these Systems, the availability of back-office capabilities or any services performed by these System’s Providers.
3. CONDITIONS OF VALIDATION OF OFF-ORDER BOOK INTERESTS
3.1 On PEGAS OTC Web An Off-Order Book Interest registered on PEGAS OTC Web gives rise to a Transaction if it is validated by the two Members involved before the time given in a Market Notice. If the two Members have not validated the Off-Order Book Interest before the time given in this Market Notice, this off-order Book Interest will not be taken into account.
3.2 On EUREX Clearing Conditions of validation are defined in a technical documentation made available by ECC to the Members.
3.3 On Trayport « Clearing Link » and EFETnet « eXRP » An Off-Order Book Interest registered on Powernext OTC Web gives rise to a Transaction if it is validated by the two Members involved before the time given in a Market Notice. This validation can be automated on « Clearing Link » and EFETnet « eXRP ».If the two Members have not validated the Off-Order Book Interest before the time given in this Market Notice, this off-order Book Interest will not be taken into account.
4. CANCELLATION OF OFF-ORDER BOOK INTERESTS
If using “OTC Web”, “Eurex Clearing”, Trayport “Clearing Link” and/or EFETnet “eXRP” Registering Systems, Registering Brokers and Members have to check the correctness of Registrations on PEGAS Non-MTF triggered via those Registration Systems and the subsequent submissions to ECC for clearing forthwith, however, not later than until the end of the trading session and to inform Powernext immediately in case of any discrepancies.
The cancellation of an Off-Order Book Interest is invoiced in conformity with Article 3 of the Market Notice “Fees, Charges, Invoices, VAT” for cancellation of Transactions.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot – Market Notices
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PEGAS SPOT MARKET NOTICES
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
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PRODUCTS’ AND SPREADS’ SPECIFICATIONS POWERNEXT® COMMODITIES / PEGAS Spot
Notice n° COMMODITIES-2016-89 01/12/2016
1 – Tradable Products on the French delivery areas
Segment PEGAS SPOT
Name of the Products PEGAS Spot PEG Nord PEGAS Spot TRS
Delivery (virtual points) PEG Nord (GRTgaz) TRS (GRTgaz, TIGF)
Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying High calorific natural gas (H-gas quality) at 25°C
Negative prices Negative Prices not allowed. Contract Volumes units MWh/day
Contract volume 1 MWh/day
Minimum lot size 240 contracts (i.e. Min Volume = 240 MWh/day) Volume tick 10 contracts (i.e. Volume Tick = 10 MWh/day)
Price unit €/MWh, 3 decimal digits
Price tick 0.025 €/MWh
Total Contract Volume = Number of contracts x Contract volume (1 MWh/day) x Number of delivery days Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified virtual point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m CET of day D to 06:00 a.m. CET of day D+1.
Segment PEGAS SPOT Name of the Products PEGAS Spot PEG Nord
1 MWh/d PEGAS Spot TRS
1 MWh/d
Delivery(virtual points) PEG Nord (GRTgaz) TRS (GRTgaz, TIGF)
Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying High calorific natural gas (H-gas quality) at 25°C
Negative prices Negative Prices not allowed. Contract Volumes units MWh/day
Contract volume 1 MWh/day
Minimum lot size 1 contract (i.e. Min Volume = 1 MWh/day) Volume tick 1 contract (i.e. Volume Tick = 1 MWh/day)
Price unit €/MWh, 3 decimal digits
Price tick 0.025 €/MWh
Total Contract Volume = Number of contracts x Contract volume (1 MWh/day) x Number of delivery days Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified virtual point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m CET of day D+1.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
15/89
Segment PEGAS SPOT Name of the Products PEGAS Spot GRTgaz Nord PEGAS GRTgaz TRS
Delivery (virtual points) PEG Nord (GRTgaz) TRS (GRTgaz section)
Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying High calorific natural gas (H-gas quality) at 25°C
Negative prices Negative Prices not allowed.
Contract Volumes units MWh/day Contract volume 1 MWh/day
Minimum lot size 1 contracts (i.e. Min Volume = 1 MWh/day)
Volume tick 1 contracts (i.e. Volume Tick = 1 MWh/day) Price unit €/MWh, 3 decimal digits
Price tick 0.025 €/MWh
Total Contract Volume = Number of contracts x Contract volume (1 MWh/day) x Number of delivery days Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery For these Products, the specifications for the Delivery are given by GRTgaz in a consultation previous to the conclusion of the Trades. As a result, all Trades lead to physical delivery :
On specific delivery points (as defined in the consultation launched by GRTgaz pursuant to the specific contract related to locational products signed between GRTgaz and the Member), when GRTgaz is one of the counterparty of the Trade;
On the delivery virtual point in any other case. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m CET of day D to 06:00 a.m. CET of day D+1. Taking into account the specificities of these Products, Powernext SA may occasionally have to disclose information relating to a given Trade to GRTgaz, upon its request. Such disclosure is made in accordance with article 1.2.5.6 of the Powernext® Commodities Market Rules.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
16/89
2 – Tradable Products on the Belgian delivery area
Segment PEGAS SPOT
Name of the Products PEGAS Spot ZTP PEGAS Spot ZTP L
Delivery (virtual points) ZTP (Fluxys) ZTP L (Fluxys)
Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying ZTP: High calorific natural gas (H-gas quality) ZTP L: Low calorific natural gas (L-gas quality)
Negative prices Negative Prices not allowed.
Contract Volumes units MW
Contract volume 1 MW
Minimum lot size 1 contract (i.e. Min Volume = 1 MW) Volume tick 1 contract (i.e. Volume Tick = 1 MW)
Price unit €/MWh, 3 decimal digits
Price tick 0.025 €/MWh Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract
(taking into account summer/winter time-shift)
Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified virtual point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Segment PEGAS SPOT Name of the Products PEGAS Spot ZEE
Delivery (virtual points) ZEE (Fluxys)
Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Negative prices Negative Prices not allowed. Contract Volumes units Kilotherms per day (kth/d) (1 therm = 29.3071 kilowatt hours)
Contract volume 1 kth/d or 1,000 therms/day
Minimum lot size 1 contract (i.e. Min Volume = 1,000 therms/day) for Orders in the Order Book Volume tick 1 contract (i.e. Min Volume = 1,000 therms/day) for Orders in the Order Book
Price unit GBP pence/therm (p/th), 3 decimal digits
Price tick GBP 0.005 p/th for Orders in the Order Book
Total Contract Volume = Number of contracts x Contract volume (1,000 therms/day) x Number of delivery days of the Contract
Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by the corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified physical point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
17/89
3 – Tradable Products on the German delivery areas
Segment PEGAS SPOT
Name of the Products PEGAS Spot NCG
PEGAS Spot NCG-L*
PEGAS Spot NCG-H*
Delivery (virtual points) NCG (NetConnect Germany)
Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
HR (Hourly)
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying NCG: natural gas regardless of gas quality (L or H) NCG H: High calorific natural gas (H-gas quality) NCG L: Low calorific natural gas (L-gas quality)
Negative prices Negative Prices not allowed. Contract Volumes units
MW
Contract volume 1 MW Minimum lot size 1 contract (i.e. Min Volume = 1 MW)
Volume tick 1 contract (i.e. Volume Tick = 1 MW)
Price unit €/MWh, 3 decimal digits Price tick 0.025 €/MWh
Total Contract Volume
= Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified virtual point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1. For Hourly products however, delivery occurs on an individual hour. * There are physical delivery restrictions according to the balancing group contract (“Provisions for exchange-traded products that are subject to specific physical delivery restrictions”) in case of trading the products of PEGAS Spot NCG-L and NCG-H. The relevant trading party is obliged to fulfill these physical delivery restrictions.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
18/89
Segment PEGAS SPOT
Name of the Products
PEGAS Spot
NCG H North*
PEGAS Spot
NCG H South*
PEGAS Spot
NCG H Mid*
PEGAS Spot
NCG L West*
PEGAS Spot
NCG L East*
PEGAS Spot
NCG L Elten*
PEGAS Spot
NCG L Vreden*
Area NCG H North
NCG H South
NCG H Mid
NCG L West
NCG L East
NCG L Elten
NCG L Vreden
Delivery area (virtual points)
NCG (NetConnect Germany)
Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
HR (Hourly)
Underlying High calorific natural gas (H-gas quality) Low calorific natural gas (L-gas quality)
Negative prices Negative Prices not allowed.
Contract Volumes units
MW
Contract volume 1 MW
Minimum lot size 1 contract (i.e. Min Volume = 1 MW) Volume tick 1 contract (i.e. Volume Tick = 1 MW)
Price unit €/MWh, 3 decimal digits
Price tick 0.025 €/MWh Total Contract Volume
= Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery
All Products are physical contracts and lead to physical deliveries on the specific area designated in the Product’s name. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m CET of day D to 06:00 a.m. CET of day D+1. For Hourly products however, delivery occurs on an individual hour. * There are physical delivery restrictions according to the balancing group contract (“Provisions for exchange-traded products that are subject to specific physical delivery restrictions”) in case of trading these products. The relevant trading party is obliged to fulfill these physical delivery restrictions. Taking into account the specificities of these Products, Powernext SA may occasionally have to disclose information relating to a given Transaction to NCG, upon its request. Such disclosure is made in accordance with article 1.2.5.6 of the Powernext Commodities Market Rules.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
19/89
Segment PEGAS SPOT
Name of the Products PEGAS Spot GASPOOL
PEGAS Spot GASPOOL-L*
PEGAS Spot GASPOOL-H*
Delivery (virtual points) GASPOOL (GASPOOL Balancing Services)
Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
HR (Hourly)
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying GASPOOL natural gas regardless of gas quality GASPOOL H: High calorific natural gas (H-gas quality) GASPOOL L: Low calorific natural gas (L-gas quality)
Negative prices Negative Prices not allowed. Contract Volumes units
MW
Contract volume 1 MW Minimum lot size 1 contract (i.e. Min Volume = 1 MW)
Volume tick 1 contract (i.e. Volume Tick = 1 MW)
Price unit €/MWh, 3 decimal digits Price tick 0.025 €/MWh
Total Contract Volume
= Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified virtual point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1. For Hourly products however, delivery occurs on an individual hour. * There are physical delivery restrictions according to the balancing group contract (“Provisions for exchange-traded products that are subject to specific physical delivery restrictions”) in case of trading the products of PEGAS Spot GASPOOL-L and GASPOOL-H. The relevant trading party is obliged to fulfill these physical delivery restrictions.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
20/89
Segment PEGAS SPOT
Name of the Products
PEGAS Spot GASPOOL Ontras H-
Gas*
PEGAS Spot
GASPOOL GuD H-Gas*
PEGAS Spot
GASPOOL Gascade H-
Gas*
PEGAS Spot
GASPOOL GuD L-Gas*
PEGAS Spot
GASPOOL GTG Nord
L-Gas*
PEGAS Spot
GASPOOL Nowega L-
Gas*
Area Ontras H GuD H Gascade H GuD L GTG Nord L Nowega L
Delivery area (virtual points)
GASPOOL (GASPOOL Balancing Services)
Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying High calorific natural gas (H-gas quality) Low calorific natural gas (L-gas quality)
Negative prices Negative Prices not allowed. Contract Volumes units
MW
Contract volume 1 MW
Minimum lot size 1 contract (i.e. Min Volume = 1 MW) Volume tick 1 contract (i.e. Volume Tick = 1 MW)
Price unit €/MWh, 3 decimal digits
Price tick 0.025 €/MWh Total Contract Volume
= Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery
All Products are physical contracts and lead to physical deliveries on the specific area designated in the Product’s name. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m CET of day D to 06:00 a.m. CET of day D+1. * There are physical delivery restrictions according to the balancing group contract (“Provisions for exchange-traded products that are subject to specific physical delivery restrictions”) in case of trading these products. The relevant trading party is obliged to fulfill these physical delivery restrictions. Taking into account the specificities of these Products, Powernext SA may occasionally have to disclose information relating to a given Transaction to GASPOOL, upon its request. Such disclosure is made in accordance with article 1.2.5.6 of the Powernext Commodities Market Rules.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
21/89
4 – Tradable Products on the Dutch delivery area
Segment PEGAS SPOT
Name of the Products PEGAS Spot TTF
Delivery(virtual points) TTF (Gasunie Transport Services B.V.) Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
HR (Hourly) Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Negative prices Negative Prices not allowed.
Contract Volumes units
MW
Contract volume 1 MW
Minimum lot size 1 contract (i.e. Min Volume = 1 MW)
Volume tick 1 contract (i.e. Volume Tick = 1 MW) Price unit €/MWh, 3 decimal digits
Price tick 0.025 €/MWh
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified virtual point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1. For Hourly products however, delivery occurs on an individual hour.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
22/89
5 – Tradable Products on the British delivery area
Segment PEGAS SPOT
Name of the Products PEGAS Spot NBP
Delivery (virtual points) NBP (National Grid)
Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Negative prices Negative Prices not allowed.
Contract Volumes units Kilotherms per day (kth/d) (1 therm = 29.3071 kilowatt hours)
Contract volume 1 kth/d or 1,000 therms/day Minimum lot size 1 contract (i.e. Min Volume = 1,000 therms/day) for Orders in the Order Book
Volume tick 1 contract (i.e. Min Volume = 1,000 therms/day) for Orders in the Order Book
Price unit GBP pence/therm (p/th), 3 decimal digits Price tick GBP 0.005 p/th for Orders in the Order Book
Total Contract Volume = Number of contracts x Contract volume (1,000 therms/day) x Number of delivery days of the
Contract Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified virtual point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
23/89
6 – Tradable Products on the Danish delivery area
Segment PEGAS SPOT
Name of the Products PEGAS Spot ETF
Delivery(virtual points) ETF (Energinet.dk) Tradable Products
WD (Within Day) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying Natural gas at the conditions of the TSO of the concerned delivery area Negative prices Negative Prices not allowed.
Contract Volumes units MW
Contract volume 1 MW
Minimum lot size 1 contract (i.e. Min Volume = 1 MW) Volume tick 1 contract (i.e. Volume Tick = 1 MW)
Price unit €/MWh, 3 decimal digits
Price tick 0.025 €/MWh Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract
(taking into account summer/winter time-shift)
Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified virtual point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
24/89
7 – Tradable Products on the Austrian delivery area
Segment PEGAS SPOT
Name of the Products PEGAS Spot CEGH VTP
Delivery(virtual points) CEGH VTP (Central European Gas Hub AG) Tradable Products WD (Within Day)
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Negative prices Negative Prices not allowed. Contract Volumes units MW
Contract volume 1 MW
Minimum lot size 1 contract (i.e. Min Volume = 1 MW)
Volume tick 1 contract (i.e. Volume Tick = 1 MW) Price unit €/MWh, 3 decimal digits
Price tick 0.025 €/MWh
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified virtual point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Trading sessions Continuous and Auction trading sessions (last 15minutes of every hour)
Order types available “Limit”, “Must Be Filled”, “Market To Limit”, “Fill or kill” and “Fill and kill” orders
Conditions of Limit Price for Orders in the Orderbook
Contrary to the stipulation of the Market Rules, the Limit price of “Limit”, “Fill or kill” and “Fill and kill” orders can be posted at the bid even if they are higher than the Price of the best opposite Order in the Orderbook and respectively at the ask even if they are lower than the Price of the best opposite Order. The matching will be at the Best Limit Price available.
Segment PEGAS SPOT
Name of the Products PEGAS Spot CEGH VTP Delivery(virtual points) CEGH VTP (Central European Gas Hub AG)
Tradable Products
HR (Hourly) DA (Day-Ahead) WE (Week-End) SAT (Saturday) SUN (Sunday)
BH (Bank Holiday) ID (Individual Day)
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Negative prices Negative Prices not allowed.
Contract Volumes units MW
Contract volume 1 MW Minimum lot size 1 contract (i.e. Min Volume = 1 MW)
Volume tick 1 contract (i.e. Volume Tick = 1 MW)
Price unit €/MWh, 3 decimal digits Price tick 0.025 €/MWh
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Transformation for clearing purposes
Immediately after the conclusion of the trade, each WE and BH contract are replaced by corresponding daily contracts so the covered delivery period remains the same.
Delivery All contracts are physical contracts and lead to physical deliveries on the specified virtual point. Delivery occurs each calendar day of the delivery period. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
25/89
8 – Tradable Spreads between Products
Powernext offers Spreads between some of the Products listed on its Market Segments. Trading on these Spreads results by the buying (respectively the selling) of the first listed Product and the selling (respectively the buying) on the second listed Product. These Spreads between Products are as follows and are tradable on the following maturities:
PEGAS Spot TRS / PEGAS Spot PEG Nord
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot PEG Nord / PEGAS Spot ZTP
Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot PEG Nord / PEGAS Spot NCG
Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot PEG Nord / PEGAS Spot TTF
Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot GASPOOL / PEGAS Spot NCG
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot GASPOOL / PEGAS Spot TTF
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot NCG / PEGAS Spot TTF
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot NCG L / PEGAS Spot NCG H
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
26/89
Individual Day
PEGAS Spot GASPOOL L / PEGAS Spot GASPOOL H
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot NCG L / PEGAS Spot TTF
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot GASPOOL L / PEGAS Spot TTF
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot ZTP / PEGAS Spot TTF
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot ZTP / PEGAS Spot NCG
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot ZTP / PEGAS Spot GASPOOL
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot ZEE / PEGAS Spot NBP
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot ETF/PEGAS Spot TTF
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot ETF/PEGAS Spot NCG
Within-Day Day-Ahead Week-End Saturday
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Products Specifications
27/89
Sunday Bank Holiday Individual Day
PEGAS Spot ETF/PEGAS Spot GASPOOL
Within-Day Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot CEGH VTP/PEGAS Spot TTF
Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot CEGH VTP/PEGAS Spot NCG
Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
PEGAS Spot CEGH VTP/PEGAS Spot GASPOOL
Day-Ahead Week-End Saturday Sunday Bank Holiday Individual Day
Powernext® Commodities Market Notices 22/032017
PEGAS Spot Market Notice – Fees, Charges, Invoices, VAT
28/89
FEES, CHARGES, INVOICES, VAT
POWERNEXT® COMMODITIES / PEGAS Spot Notice n° COMMODITIES-2016-90
01/12/2016
Article 1. Annual Fees
1- Annual membership fees
Annual membership fees on PEGAS Spot on the following countries and delivery zones
Germany: NCG, NCG H&L, GASPOOL, GPL H&L, GPL Locationals1, NCG Locationals2
Belgium: ZTP, ZTPL, ZEE
France : PEG Nord, TRS, GRTgaz Locationals3
Italy : PSV, PSV Financial
Netherlands : TTF
United Kingdom : NBP are determined according to the number of countries
included in the Member’s subscription,
(1) Up to two countries EUR 9,000
(2) More than two countries EUR 15,000
For such countries and in case of multiple accesses to PEGAS Spot, PEGAS Non-MTF and PEGAS Regulated Market:
The total amount of annual membership fees shall be limited to EUR 9,000 for Members who join package (1).
The total amount of annual membership fees shall be limited to EUR 15,000 for Members who join package (2).
For the subscriptions (1) and (2), the first year of annual membership fees will be free of charge for new members. A member who choses at first a subscription to up to two countries (1) will be able to change for the first time to a subscription to more than two countries (2) without paying the difference in fees between the two subscriptions for 12 months. (3) Annual membership fees on PEGAS Spot for Denmark ETF Delivery Zone are EUR 10,000.
For Denmark and in case of multiple accesses to PEGAS Spot, PEGAS Non-MTF and PEGAS Regulated Market:
1 GASPOOL Ontras H-Gas, GASPOOL GuD H-Gas, GASPOOL
Gascade H-Gas, GASPOOL GuD L-Gas, GASPOOL GTG Nord L-Gas, GASPOOL Nowega L-Gas
2 NCG H North, NCG H South, NCG H Mid, NCG L West, NCG L East, NCG L Elten, NCG L Vreden.
3 GRTGaz Nord and GRTGaz TRS
the total amount of annual membership fees shall be limited to EUR 10,000 for Members who join package (3). For the subscriptions (3) in 2017, the first year of annual membership fees will be free of charge for new members. (4) Annual membership fees on PEGAS Spot for the Austrian CEGH VTP Delivery Zone are EUR 15,200.
For Austria and in case of multiple accesses to PEGAS Spot, PEGAS Non-MTF and PEGAS Regulated Market: the total amount of annual membership fees shall be limited to EUR 15,200 for Members who join package (4). Members entering the Austrian CEGH VTP Delivery Zone for balancing purposes, without any trading account, are considered as Passive Member and can benefit from a reduced membership fee of EUR 10,000 on the hub CEGH VTP.
2- Annual membership fees for Clearing Members
The Annual membership fees shall be limited to EUR 4,000 for Clearing Member who trade for their own account only if one of their clients defaults. These reduced fees entitle the Clearing Member to a single trading license, which shall be activated solely to manage the position of a defaulting client.
3- Other annual fees
An annual trading account Fee of EUR 1,800 per year shall be invoiced for each user license. License for a downstream account for Trayport Trading Gateway® users shall be charged EUR 1,800 per year.
Passive Members entering the Austrian CEGH VTP Delivery Zone for balancing purposes will be charged an administrative fee of EUR 1,800 per year.
Shift trader licenses are charged EUR 750 per year.4
4 A Shift trader is an operator from a company whose internal organization requires a specific team of operators trading on a 24/7 basis to be able to meet the company’s physical needs of natural gas. Logically, such operators from one company are only authorized on Spot products, they work on a shift pattern and only operators on duty connect to the system or are active at the same time. Powernext reserves the right to check that Shift traders set up in the trading system comply with this definition and can modify concerned accounts to non shift traders‘ ones if this definition is not respected.
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4- Invoicing Both membership and technical annual fees are payable monthly by the Members and invoiced at the end of each calendar month. Membership annual fees are established the first day of each month from the date of trading commencement. Technical annual fees are established at the last day of each month from the date of trading commencement. Powernext SA shall issue electronic invoices. These invoices shall be available on an FTP server accessible in SFTP and via an https webpage at the address communicated to the Members. As an exception, invoices for CEGH VTP Membership fees will be sent by email by Central European Gas Hub AG on behalf of Powernext.
Upon express and written demand to Powernext SA, Members may receive hard copies of the invoices issued to Powernext SA.
Article 2. Trading fees for Spot Products
1- Trading fees The Trading Fees shall be charged for each Megawatt-hour (MWh) or Therms of the underlying natural gas in the traded volumes, depending on the Contract’s unit of quotation.
For a Transaction on outright Product, Trading Fees amount to:
TTF EUR 0.005 per MWh
PEG Nord, TRS, ZTP, ZTP L EUR 0.01 per MWh
NCG, GASPOOL Within-Day EUR 0.015 per MWh
NCG, GASPOOL other maturities
EUR 0.005 per MWh
NBP, ZEE GBP 0.0015 Pence per Therm
GRTgaz Nord, GRTgaz TRS EUR 0.03 per MWh
GASPOOL Ontras H-Gas, GASPOOL GuD H-Gas, GASPOOL Gascade H-Gas, GASPOOL GuD L-Gas, GASPOOL GTG Nord L-Gas, GASPOOL Nowega L-Gas
EUR 0.03 per MWh
NCG H North, NCG H South, NCG H Mid, NCG L West, NCG L East,
EUR 0.03 per MWh
TTF Hourly EUR 0.03 per MWh
NCG, GASPOOL Hourly EUR 0.03 per MWh
NCG L Elten, NCG L Vreden Hourly
EUR 0.03 per MWh
ETF EUR 0.02 per MWh
CEGH VTP Hourly EUR 0.01 per MWh
CEGH VTP Other maturities EUR 0.005 per MWh
In case of a Transaction on a Spread between Contracts, only the trading fee on the first underlying Contract is applicable.
In case of a Transaction on an Implied Order, only the Trading fee of the underlying Contract of the Implied Order executed on screen is applicable.
2- Fees for cancellation Powernext SA shall charge an administrative fee of EUR 500 for cancelling, at a Member's request, Transactions on PEGAS Spot products quoted in EUR. These fees are invoiced per request, including when a request concerns several Transactions. Powernext SA shall charge an administrative fee of GBP 400 for cancelling, at a Member's request, Transactions on PEGAS Spot products quoted in GBP. These fees are invoiced per request, including when a request concerns several Transactions. For cancelling a Transaction related to a Spread between Products or an Implied Order, only one of the resulting transactions is invoiced. These fees shall be charged only to the party requesting the cancellation. A cancellation of multiple simultaneous Transactions on the same maturity will be charged once for the Transaction with the most important volume. The fees mentioned in this article shall be billed monthly and included in the invoices mentioned in Article 2.
3- Invoicing Trading fees payable monthly by the Members and invoiced at the end of each calendar month. Powernext SA shall issue electronic invoices. These invoices, at the exception of CEGH VTP Membership fees invoice, shall be available on an FTP server accessible in SFTP and via an https webpage at the address communicated to the Members. CEGH VTP Membership fees will be sent by email by Central European Gas Hub AG on behalf of Powernext. Upon express and written demand to Powernext SA, Members may receive hard copies of the invoices issued to Powernext SA.
Article 3. Value Added Tax on fees The fees referred to in Articles 1 to 2 of this Appendix assimilated to a provision of services (Article 256 IV of the French Tax Code). The place of supply of such services is where the buyer is established for VAT purposes according to article 259-1 of the French tax code/Article 44 of the directive 2006/112/EC. They are subject to French Value Added Tax at the rate of 20% if the buyer is a French resident or a French establishment of a foreign business.
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They are not subject to French Value-Added-Tax if the buyer is liable to pay Value-Added Tax in another European Union Member State (in such case Value-Added Tax is due by the buyer in the member state in which the tax is due pursuant to article 196 of the directive 2006/112/EC) or is established outside the European Union. Moreover the buyer acknowledges that VAT should be self-assessed by the buyer pursuant to the tax law applicable in the State where the buyer has its residence. The buyer shall fully hold Powernext harmless in case it did not comply with its tax related obligations towards a State
Article 4. Payment The fees referred to in Articles 1 to 3 shall be payable on the date of receipt of the electronic copy of the invoice. They shall be collected by ECC the following days and remitted entirely to Powernext SA. If the amounts invoiced are not paid in full within the specified deadline, the sums owed are increased, by right, and without the need for a formal notice to pay, of a fixed rate for recovery fees of forty (40) EUR (art. L441-3 French Commercial Code) in addition to interests for late payments at a rate equal to three times the legally chargeable interest rate. These penalties are due on the day following the due date mentioned on the invoice.
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TRADING HOURS, BUSINESS DAYS AND TRADING CALENDARS
POWERNEXT® COMMODITIES / PEGAS Spot Notice n° COMMODITIES-2017-09
15/02/2017
I. OPENING HOURS 1 Order Book opening hours Powernext SA publishes hereafter the Order Book opening hours in accordance with article 2.4.3 of the Powernext® Commodities Market Rules:
The Order Book is open 7 days a week, 24 hours a day, with the exception of ZEE and ZEE/NBP Products that are open from 8:00 am to 6:00 pm CET time on PEGAS business days, as defined by Market Notice.
Products are available for trading from 03:00 am CET on the first day of trading of the Product to 03:00 am CET on the day following the last trading day, with the exception of Within-Day Products that are available for trading from 02:00 am CET on the first trading day to 02:00 am CET on the next trading day and of Hourly products that are available for trading 27 hours ahead until 3 hours before delivery.
2 Trading Hours Powernext SA publishes hereafter the Trading Hours of PEGAS Spot in accordance with articles 1.4.2.4 and 2.4.3 of the Powernext® Commodities Market Rules.
Trading is open 7 days a week, 24 hours a day, with the exception of ZEE and ZEE/NBP Products that are open from 8:00 am to 6:00 pm CET time on PEGAS business days, as defined by Market Notice.
PEGAS Spot business days are every day of the calendar except the following:
Market closure days on Powernext Gas until 2017
Boxing Day (First weekday after Christmas) Mon, 26 Dec 16
Christmas Day Tue, 27 Dec 16
Substitute for New Year’s day Mon, 2 Jan 17
Good Friday Fri, 14 April 2017
Easter Monday Mon, 17 April 2017
Early May Bank Holiday (First Monday of May) Mon, 1 May 2017
Spring Bank Holiday (Usually Last Monday of May) Mon, 29 May 2017
Summer Bank Holiday (Last Monday of August) Mon, 28 Aug 2017
Christmas Day Tue, 25 Dec 2017
Boxing Day (First weekday after Christmas) Tue, 26 Dec 2017
II. TRADING CALENDAR Powernext SA publishes hereafter the Trading Calendar of PEGAS Spot for the calendar year 2016 and 2017 in accordance with article 2.4.3 of the Powernext® Commodities Market Rules. Trading Sessions occur 7 days a week, 24 hours a day. In accordance with article 2.4.3 and with the Market Notice related to the Product Specifications of the Powernext® Commodities Market Rules:
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WD (Within-Day) is tradable each trading day for delivery on the remaining hours of the same day taking into consideration a specific lead time
DA (Day-Ahead) Product is tradable each day for delivery on the following trading day, or alternatively on the day communicated below
WE (Week-End) Product is tradable the two trading days preceding a weekend for delivery on Saturday and Sunday, or alternatively on the days communicated below
A SAT (Saturday) Product is tradable on the Thursdays and Fridays preceding a Saturday, or on the days communicated below for delivery on this Saturday
A SUN (Sunday) Product is tradable on the Thursdays, Fridays and Saturdays preceding a Sunday, or on the days communicated below, for delivery on Sunday
BH (Bank Holiday) Product is tradable the second and the first trading day preceding one or several consecutive non-business days in the middle of a week (communicated below) for delivery on those non-business days; the calendar of non-business days is communicated below
ID (Individual Day) Product is tradable on the first trading day preceding one local bank holiday (communicated below), or on the days communicated in a Market Notice, for delivery on the day following this bank holiday
HR (Hourly) Product is tradable during 24 hours for delivery on an individual hour. Except for the following contracts, the delivery periods of which have been adapted to take into account the above mentioned non business days:
First day of trading Last day of tradingNumber of delivery
daysDelivery start Delivery End
Good Friday 2017-04-14 Good Friday 12/04/2017 03:00 14/04/2017 03:00 1 14/04/2017 06:00 15/04/2017 06:00
Easter Monday 2017-04-17 Easter Monday 12/04/2017 03:00 17/04/2017 03:00 1 17/04/2017 06:00 18/04/2017 06:00
Early May BH 2017-05-01 Early May BH 27/04/2017 03:00 01/05/2017 03:00 1 01/05/2017 06:00 02/05/2017 06:00
Spring BH 2017-05-29 Spring BH 25/05/2017 03:00 29/05/2017 03:00 1 29/05/2017 06:00 30/05/2017 06:00
Summer BH 2017-08-28 Summer BH 24/08/2017 03:00 28/08/2017 03:00 1 28/08/2017 06:00 29/08/2017 06:00
Xmas Day 2017-12-25 Xmas Day 21/12/2017 03:00 25/12/2017 03:00 1 25/12/2017 06:00 26/12/2017 06:00
Boxing Day 2017-12-26 Boxing Day 21/12/2017 03:00 26/12/2017 03:00 1 26/12/2017 06:00 27/12/2017 06:00
First day of trading Last day of tradingNumber of delivery
daysDelivery day Delivery End
January 9, 2017 Day after Epiphany Day 05/01/2017 03:00 06/01/2017 03:00 1 09/01/2017 06:00 10/01/2017 06:00
May 9, 2017 Day after Victoire 1945 05/05/2017 03:00 08/05/2017 03:00 1 09/05/2017 06:00 10/05/2017 06:00
May 26, 2017 Day after Ascension Day 24/05/2017 03:00 25/05/2017 03:00 1 26/05/2017 06:00 27/05/2017 06:00
June 16, 2017 Day after Fronleichnam 14/06/2017 03:00 15/06/2017 03:00 1 16/06/2017 06:00 17/06/2017 06:00
July 17, 2017 Day after Bastille Day 13/07/2017 03:00 14/07/2017 03:00 1 17/07/2017 06:00 18/07/2017 06:00
August 16, 2017 Day after Assumption Day 14/08/2017 03:00 15/08/2017 03:00 1 16/08/2017 06:00 17/08/2017 06:00
October 4, 2017 Day after German National Day 02/10/2017 03:00 03/10/2017 03:00 1 04/10/2017 06:00 05/10/2017 06:00
October 27, 2017 Day after Austrian National Day 25/10/2017 03:00 26/10/2017 03:00 1 27/10/2017 06:00 28/10/2017 06:00
November 2, 2017 Day after All Saints' Day 31/10/2017 03:00 01/11/2017 03:00 1 02/11/2017 06:00 03/11/2017 06:00
December 11, 2017 Day after Immaculate Conception 07/12/2017 03:00 08/12/2017 03:00 1 11/12/2017 06:00 12/12/2017 06:00
First day of trading Last day of tradingNumber of delivery
daysDelivery day Delivery End
12/04/2017 03:00 15/04/2017 03:00 1 15/04/2017 06:00 16/04/2017 06:00
12/04/2017 03:00 16/04/2017 03:00 1 16/04/2017 06:00 17/04/2017 06:00
First day of trading Last day of tradingNumber of delivery
daysDelivery day Delivery End
12/04/2017 03:00 14/04/2017 03:00 4 14/04/2017 06:00 18/04/2017 06:00
27/04/2017 03:00 29/04/2017 03:00 3 29/04/2017 06:00 02/05/2017 06:00
25/05/2017 03:00 27/05/2017 03:00 3 27/05/2017 06:00 30/05/2017 06:00
24/08/2017 03:00 26/08/2017 03:00 3 26/08/2017 06:00 29/08/2017 06:00
21/12/2017 03:00 23/12/2017 03:00 4 23/12/2017 06:00 27/12/2017 06:00
28/12/2017 03:00 30/12/2017 03:00 3 30/12/2017 06:00 02/01/2018 06:00
BANK HOLIDAYS
INDIVIDUAL DAYS Non BH
SATURDAY & SUNDAY
WE
Tradable product
SAT 2017-04-15
SUN 2017-04-16
Tradable product
Tradable product
WE 2017-05-27/29
WE 2017-08-26/28
WE 2017-12-23/26
WE 2017-12-30/01
Tradable product
WE 2017-04-14/17
WE 2017-04-29/01
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PARAMETERS SETTING NOTICE
POWERNEXT® COMMODITIES / PEGAS Spot Notice n° COMMODITIES-2015-91
01/12/2016
1 Delivery Organisations on PEGAS Spot Pursuant to Article 2.1.3 of the Powernext® Commodities Market Rules, Powernext SA hereby publishes the list of Delivery Organisations on PEGAS Spot:
GRTgaz, natural gas Transmission System Operator previously owned by Gaz de France,
TIGF, natural gas Transmission System Operator of the South-West region of France,
Fluxys SA, natural gas Transmission System Operator of the Belgian regions
NetConnect Germany GmbH & Co. KG, Market Area Manager for Germany
GASPOOL Balancing Services GmbH, Market Area Manager for Germany
Gasunie transport Services B.V., natural gas Transmission System Operator of Netherlands
National Grid, natural gas Transmission System Operator of British region
Energinet.dk, natural gas Transmission System Operator of the Danish region
Central European Gas Hub AG 2 Operating support Members shall have access to hotline support for Global Vision, particularly as regards:
queries about the functions of the Trading System,
queries about any malfunctions that may occur. Operating support is provided 24/7 by the following communication means:
Mail Phone
Mon Fri, during Business hours (08 :00-18 :30CET) [email protected] +33 1 73 03 96 24
Out of Business hours (including week ends and Bank Holidays) [email protected]
During off business hours, a limited service is provided to Members. For instance, account setup or modifications and trade on behalf are not performed.
This support service shall cover this system only; it does not cover malfunctions related to the configuration of the Members' hardware or Internet connections. 3 Transaction Cancellation Pursuant to Article 1.4.2.9 1° of the Powernext® Commodities Market Rules, the cancellation requests must be telephoned to Powernext SA (contact numbers specified above) no later than ten (10) minutes after Matching has occurred. Powernext SA informs the market when the cancellation is effective.
For WD products on NCG, GASPOOL, ZTP, ZTP L, ZEE, TTF, ETF and CEGH VTP, cancellation of the trade can only be performed if the trade has been concluded more than 20 minutes prior to the next hour. Trade cancellation for trades executed during auction trading sessions on CEGH VTP Within-Day is therefore not allowed.
For DA, WE, Sat, Sun, BH and ID products on all hubs and WD products on NBP, PEG Nord and TRS, cancellation of the trade can only be performed if the trade has been concluded more than 20 minutes prior to the start of the next contract.
For HR products on all hubs, cancellation of the trade can only be performed if the trade has been concluded more than 20 minutes prior to the end of the trading period of the contract.
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4 PEGAS Spot DAP Price References Powernext SA indicates hereafter the list of Products for which PEGAS Spot DAP(“Daily Average Price”) reference prices will be published in accordance with article 2.5.1 of the Powernext® Commodities Market Rules:
PEG Nord DA
PEG Nord WE
PEG Nord BH
TRS DA
TRS WE
TRS BH
ZTP DA
ZTP WE
ZTP BH
ETF DA
ETF WE
ETF BH
CEGH VTP DA
CEGH VTP WE
CEGH VTP BH The calculation rule of the PEGAS DAP price reference is defined in a Market Notice.
5 PEGAS Spot DRP – Daily Reference Price Powernext SA indicates hereafter the list of Products for which PEGAS Spot DRP (“Daily Reference Price”) will be published in accordance with article 2.5.2 of the Powernext® Commodities Market Rules:
TTF
NCG
GASPOOL The calculation rule of the PEGAS Spot DRP is defined in a Market Notice.
6 PEGAS Spot EOD Price References Powernext SA indicates hereafter the list of Products for which PEGAS Spot EOD reference prices will be published in accordance with article 2.5.2 of the Powernext® Commodities Market Rules:
PEG Nord DA PEG Nord WE PEG Nord BH
TRS DA TRS WE TRS BH
TTF DA TTF SAT TTF SUN TTF BH
NCG DA NCG SAT NCG SUN NCG BH
GASPOOL DA GASPOOL SAT GASPOOL SUN GASPOOL BH
ETF DA ETF WE ETF BH
CEGH VTP DA CEGH VTP WE CEGH VTP BH
7 Configuration, licenses and support
7.1 Configuration of the Member's equipment Members shall have the following hardware and software:
a PC running Windows, with a pack permitting 128 bit encryption, with a processor of at least 2 GHz Pentium class, memory at least 2 GB RAM with one of the following Operating System:
o Microsoft Windows Vista Business o Microsoft Windows XP with service pack 2 o Microsoft Windows 7.
a firewall with the following ports open: o TCP 12995 o TCP 12997 o TCP 443
an Internet connection and Microsoft Internet Explorer version 6or higher.
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7.2 License for the Global Vision system Before using the Global Vision system, Members must accept the terms of the license, which is displayed in electronic form when the system is used for the first time. If the aforementioned license or the Trading Agreement is terminated, Members must uninstall and completely remove Global Vision from their systems. 7.3 Operating and technical documentation The technical documentation shall be made available by Powernext SA by any means at its disposal. The purpose of such documentation is to provide the explanations needed for using the Global Vision software. It is subject to change and has no contractual value. The recommendations must be followed to ensure proper use of the Trading System. 7.4 Communications
Normal procedures
Transmission of Orders Publication of Transactions
Information Sent Price
Volume
Order Types
Time of transmission
Price
Volume
Time of the Transaction
Schedule
In real time during the opening hours of the Order Book
During a trading session, in real time, as soon as the transaction is executed
Sender Members Powernext SA
Receiver Powernext SA Members
Primary system used Global Vision Global Vision
Secondary system used Email / Phone FTP Server
Transmission of Back Office documents
Information Sent “Trades” files Fees Invoices Membership invoices, GV licenses, other fees
Schedule
At regular intervals during the trading session.
Monthly Quarterly
Sender Powernext SA Powernext SA Powernext SA
Receiver Trading Members Trading Members Trading Members
Primary system used Powernext FTP Powernext FTP Powernext FTP
Secondary system used Email Email
Post
Post
Fallback procedures
If the trading system is unavailable:
Trading shall be suspended.
Powernext shall inform Members by any means including emails of the trading suspension and when trading will resume.
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METHODOLOGY FOR ESTABLISHING PEGAS SPOT EOD PRICE
REFERENCES
POWERNEXT® COMMODITIES / PEGAS Spot
Notice n° COMMODITIES-2017-02 24/01/2017
Powernext has designed a new methodology to determine the PEGAS Spot EOD price references. The aims of the following document are to:
Describe the methodology used for calculating the PEGAS Spot EOD price references and give the values of the parameters utilized in the calculation;
Indicate in which case the PEGAS Spot EOD price references are determined by a Price Committee.
The PEGAS Spot EOD Price references are calculated for the following Products:
PEGAS Spot PEG Nord
PEGAS Spot TRS
PEGAS Spot TTF
PEGAS Spot NCG
PEGAS Spot GASPOOL
PEGAS Spot ETF
PEGAS Spot CEGH VTP
Table of Content
STEP 1: DEFINITION OF THE CALCULATION PERIOD DURATION STEP 2: FILTERING OF ORDERS AND TRADES OF SUFFICIENT VOLUME STEP 3: DETERMINATION OF THE CUMULATED SPREAD DURATION STEP 4: CALCULATION OF THE AVERAGE ASK AND THE AVERAGE BID STEP 5: CALCULATION OF THE AVERAGE MID AND AVERAGE SPREAD STEP 6: CALCULATION OF THE WEIGHTED AVERAGE TRADE PRICE STEP 7: PRICE COMMITTEE TRIGGERING CONDITIONS STEP 8: CALCULATION OF THE PEGAS SPOT EOD PRICE REFERENCES STEP 9: ROUNDING OF PEGAS SPOT EOD PRICE REFERENCES
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The following methodology applies to the following Products of PEGAS Spot: PEG Nord WD PEG Nord DA PEG Nord WE PEG Nord BH TRS WD TRS DA TRS WE TRS BH TTF DA TTF SAT TTF SUN TTF BH NCG DA NCG SAT NCG SUN NCG BH GASPOOL DA GASPOOL SAT GASPOOL SUN GASPOOL BH ETF DA ETF WE ETF BH CEGH VTP DA CEGH VTP WE CEGH VTP BH
The Calculation Period is the period during which the PEGAS Spot EOD price references are determined. During this period, Powernext SA collects gross data necessary for the determination of the PEGAS Spot EOD price references. These PEGAS Spot EOD price references are determined according to the following methodology. Step 1: Definition of the Calculation Period Duration The methodology to determine the PEGAS Spot EOD price references is based on a Calculation Period of 15 minutes on the last trading day of each contract (for example on Friday only for a standard 2 days Week-End contract) (Calculation Period Duration). This Calculation Period starts and finishes at the times specified hereunder.
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Product Calculation Period (Paris time)
PEG Nord WD 15h45-16h00
PEG Nord DA 17h15-17h30
PEG Nord WE 17h15-17h30
PEG Nord BH 17h15-17h30
TRS WD 15h45-16h00
TRS DA 17h15-17h30
TRS WE 17h15-17h30
TRS BH 17h15-17h30
TTF DA 17h15-17h30
TTF SAT 17h15-17h30
TTF SUN 17h15-17h30
TTF BH 17h15-17h30
NCG DA 17h15-17h30
NCG SAT 17h15-17h30
NCG SUN 17h15-17h30
NCG BH 17h15-17h30
GASPOOL DA 17h15-17h30
GASPOOL SAT 17h15-17h30
GASPOOL SUN 17h15-17h30
GASPOOL BH 17h15-17h30
ETF DA 17h15-17h30
ETF WE 17h15-17h30
ETF BH 17h15-17h30
CEGH VTP DA 17h15-17h30
CEGH VTP WE 17h15-17h30
CEGH VTP BH 17h15-17h30
Table 1 – Schedule of the Calculation Period
Step 2: filtering of orders and trades of sufficient volume The Minimal Settlement Volume is the minimum volume of a Trade or an Order to be taken into account in the computation of the PEGAS Spot EOD price references. Both average mid Spreads and Trades (weighted by their volumes) during the Calculation Period are taken into account. Bid/ask Orders and Trades strictly below certain volumes are not taken into account. The minimum volumes for Orders and for Trades are indicated in Table 2.
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Product Minimum Volume
PEG Nord WD 240 MWh/day
PEG Nord DA 240 MWh/day
PEG Nord WE 240 MWh/day
PEG Nord BH 240 MWh/day
TRS WD 240 MWh/day
TRS DA 240 MWh/day
TRS WE 240 MWh/day
TRS BH 240 MWh/day
TTF DA 10 MW
TTF SAT 10 MW
TTF SUN 10 MW
TTF BH 10 MW
NCG DA 10 MW
NCG SAT 10 MW
NCG SUN 10 MW
NCG BH 10 MW
GASPOOL DA 10 MW
GASPOOL SAT 10 MW
GASPOOL SUN 10 MW
GASPOOL BH 10 MW
ETF DA 10 MW
ETF WE 10 MW
ETF BH 10 MW
CEGH VTP DA 10 MW
CEGH VTP WE 10 MW
CEGH VTP BH 10 MW
Table 2 Minimum volume for Orders and Trades Step 3: determination of the Cumulated Spread Duration The Cumulated Spread Duration is the cumulated duration of present spreads during the Calculation Period. It is defined as the cumulative time during which both ask and bid Orders with sufficient volume (see Table 1) are displayed on screen.
Example Orders of sufficient volume during the 15 minutes Calculation Period are represented on figure 1. The Calculation Period is decomposed into subperiods that correspond to constant best bid and ask prices. Whenever one of these prices is changing, a new subperiod is created. Intervals during which no bid or no ask Order of sufficient volume are present will be skipped. In figure 1, between periods A and B, there is for example no ask Order (or the ask Orders are all below the minimum volume). CumulatedSpreadDuration = Duration(A) + Duration(B) + Duration(C) + Duration(D) + Duration(E)
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Figure 1 CumulatedSpreadDuration during the Calculation Period
Step 4: calculation of the AverageAsk and the AverageBid The Average Ask is the average value of the best ask Orders during the Cumulated Spread Duration.
Example: If the Cumulated Spread Duration is composed of 5 subperiods A, B, C, D, E: AverageAsk = [Duration(A)*Ask(A) + Duration(B)*Ask(B) + Duration(C)*Ask(C) + Duration(D)*Ask(D) + Duration(E)*Ask(E)] / CumulatedSpreadDuration
The AverageBid is the average value of the best bid Orders during the Cumulated Spread Duration.
Example If the Cumulated Spread Duration is composed of 5 subperiods A, B, C, D, E: AverageBid = [Duration(A)*Bid(A) + Duration(B)*Bid(B) + Duration(C)*Bid(C) + Duration(D)*Bid(D) + Duration(E)*Bid(E)] / CumulatedSpreadDuration
Step 5: calculation of the Average Mid and Average Spread The Average Mid is the average between Average Ask and Average Bid: AverageMid = (AverageAsk+AverageBid)/2 The Average Spread is the difference between Average Ask and Average Bid: AverageSpread = AverageAsk – AverageBid Step 6: calculation of the Weighted Average Trade Price The Weighted Average Trade Price is the average price of the outright Trades (of sufficient volume) weighted by their volumes. The Synthetic Prices of the Spreads resulting from a Trade on a Spread Product are taken into consideration in the calculation.
Settlement Period (15 min)
A B C D E
ASK
BID
Transaction 1 Transaction
2
05:30PM 05:15PM
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Weighted Average Trade Price is the average price of the Trades on a Product weighted by their volumes, including Synthetic Prices of Trades resulting from a Trade on a Spread Product.
Example for PEG Nord: If two trades of sufficient volume are observed on PEG Nord or on a Spread Product on PEG Nord during the Calculation Period: WeightedAverageTradePrice(Nord) = [Price(Trade1)*Volume(Trade1) + Price(Trade2)*Volume(Trade2)] / [Volume(Trade1) + Volume(Trade2)]
Step 7: Price Committee triggering conditions For a given contract, a Price Committee is called if there is no Trade and one of the two following conditions on the Cumulated Spread Duration (condition A) and/or Average Spread (condition B) is not met: Condition A (Minimum Cumulated Spread Duration) CumulatedSpreadDuration ≥ 0.2 * SettlementPeriodDuration Condition B (Maximum Average Spread Level) AverageSpread ≤ MaxSpread[contract] Max Spread is the maximum average spread value that a Product can have to be taken into account. The Max Spread values for each Product are indicated in Table 3:
Product MaxSpread
PEG Nord WD 1,40 €/MWh
PEG Nord DA 0,60 €/MWh
PEG Nord WE 0,60 €/MWh
PEG Nord BH 0,60 €/MWh
TRS WD 1,40 €/MWh
TRS DA 1,20 €/MWh
TRS WE 1,20 €/MWh
TRS BH 1,20 €/MWh
TTF DA 0,40 €/MWh
TTF SAT 0,40 €/MWh
TTF SUN 0,40 €/MWh
TTF BH 0,40 €/MWh
NCG DA 0,40 €/MWh
NCG SAT 0,40 €/MWh
NCG SUN 0,40 €/MWh
NCG BH 0,40 €/MWh
GASPOOL DA 0,40 €/MWh
GASPOOL SAT 0,40 €/MWh
GASPOOL SUN 0,40 €/MWh
GASPOOL BH 0,40 €/MWh
ETF DA 1,20 €/MWh
ETF WE 1,20 €/MWh
ETF BH 1,20 €/MWh
CEGH VTP DA 0,40 €/MWh
CEGH VTP WE 0,40 €/MWh
CEGH VTP BH 0,40 €/MWh
Table 3- MaxSpread values (€/MWh)
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Example: For a PEG Nord DA Product, if the cumulated time during which there is both bid and ask Orders of more than 240
MWh/day is only two minutes (less than 20% of 15 minutes) and there was no Trade on such Product nor on a Spread Product on PEG Nord DA during the Calculation Period, a Price Committee is called for that Product.
For a PEG Nord DA Product, if the average spread is 0.60 €/MWh/d and there was no Trade on this Product nor on a
Spread Product on PEG Nord DA during the Calculation Period, a Price Committee is called for that Product.
When a Price Committee is called, Powernext SA uses the data given by the Price Committee to determine the PEGAS Spot EOD price references of the concerned Products. Step 8: calculation of the PEGAS Spot EOD If the conditions triggering a Price Committee are not met, PEGAS Spot EOD price references are determined according to the following rules: If 3 or more Trades of sufficient volume have occurred during the Calculation Period for that Product (including Trades
coming from Spreads on that Product) then: PEGAS Spot EOD price reference = WeightedAverageTradePrice
If 1 or 2 Trade(s) of sufficient volume has occurred during the Calculation Period for that Product (including Trades coming from Spreads on that Product) and conditions A and B are satisfied then:
PEGAS Spot EOD price reference = (1/4*AverageMid + 3/4 * WeightedAverageTradePrice)
If 1 or 2 Trade(s) of sufficient volume has occurred during the Calculation Period for that Product (including Trades coming from Spreads on that Product) and one of the conditions (or both of them) A and B is (are) not satisfied then:
PEGAS Spot EOD price reference (PEG Nord) = WeightedAverageTradePrice(PEG Nord) If no Trade of sufficient volume has occurred during the Calculation Period for that Product (nor Trades coming from
Spreads on that Product) and conditions A and B are satisfied, then: PEGAS Spot EOD price reference = AverageMid
Step 9: rounding of the PEGAS Spot EOD price references PEGAS Spot EOD price references are rounded to the closest value in euro cent for the following hubs: PEG Nord, TRS, ETF and CEGH VTP. PEGAS Spot EOD price references are rounded to three digits for the following hubs: NCG, GASPOOL and TTF.
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METHODOLOGY FOR ESTABLISHING PEGAS SPOT REFERENCE PRICES
POWERNEXT® COMMODITIES / PEGAS Spot Notice n° COMMODITIES-2017-03
24/01/2017
1) PEGAS Spot DAP
The PEGAS Spot DAP Price references are calculated for the following Products:
PEGAS Spot PEG Nord
PEGAS Spot TRS
PEGAS Spot ZTP
PEGAS Spot ETF
PEGAS Spot CEGH VTP The PEGAS Spot DAP Price references are calculated every business day in accordance with article 1 of the Business and calendars Market Notice, taking into consideration trades between 08h00 am and 06h00 pm. Methodology: After the Trading Session, the PEGAS Spot DAP price reference is defined as the average of the price of Transactions weighted by their volume on the considered Product. The Synthetic Prices of Transactions resulting from a Transaction on a Spread between Products are taken into account for this calculation. If no Transaction has happened during the day, then the PEGAS Spot DAP price reference is defined as being equal to the PEGAS Spot EOD price reference.
2) PEGAS Spot DRP The PEGAS Spot DRP Price references are calculated for the following Products:
PEGAS Spot TTF
PEGAS Spot NCG
PEGAS Spot GASPOOL
The PEGAS Spot DRP Price references are calculated every business day in accordance with article 1 of the Business and calendars Market Notice, taking into consideration trades during the whole trading session in accordance with article 6 of the Parameters Setting Notice. Day-Ahead contracts are taken into consideration in the calculation of the PEGAS Spot DRP Price references. When available for trading, Weekend, Saturday and Sunday contracts will also be taken into consideration. The Daily Reference Price for the market area TTF is determined as follows:
For the market area NCG synthetic prices resulting from Spreads between Products with TTF will be considered:
For GASPOOL, synthetic prices resulting from Spreads between Products with TTF and NCG will be considered:
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The Daily Reference Price are published around 10.00 am CET on the delivery day, or on the next business day for Individual Days and Bank Holidays If no relevant Transaction to calculate the DRP has happened, then the PEGAS Spot DRP price reference is defined as being equal to the PEGAS Spot EOD price reference.
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TRADE LIMITS ON PEGAS SPOT
POWERNEXT® COMMODITIES / PEGAS Spot Notice n° COMMODITIES-2015-94
01/12/2016 Pursuant to article 2.4.2 of the Powernext® Commodities Market Rules, Powernext SA hereby describes the system of trade limits in place on PEGAS Spot. 1. Transmission of trading limits from ECC to Powernext ECC transmits limits to Powernext SA and Powernext SA applies trading limits for the Members that are deemed to have agreed with their Clearing Member to use this functionality. According to ECC Clearing Conditions, the Clearing Member must agree upon trading limits’ value with the Member before it is transferred to ECC. Each Member and Trading Account is identified by Powernext with a Clearing Code given by ECC. For each Member and Trading Accounts, Powernext SA receives the trading limits data (Initial Limit) identified with Clearing Accounts impacted from ECC, who preliminary received the data from the Clearing Member. A Member for which Powernext SA has not received any limit from ECC will be considered as unlimited. As a consequence, Members and Trading Accounts are impacted by the trading limits in accordance with the respective Clearing Accounts. With regards to Third Party trading, trading limits will apply to the Clearing Codes of the Clearing Accounts which are used to clear third party trades. Powernext SA receives a daily update of the trading limits from ECC each PEGAS business day as defined by Market Notice, between 4:00 and 5:00 pm CET. This update is applied on PEGAS Spot. The daily update will not apply on the Orders already in the Orderbook. These Orders will remain active until withdrawn from the trading system (matched or manually removed by the trader of by Powernext SA). 2. Application rules of the trading limits on PEGAS Spot Powernext SA applies the trading limit received from ECC for a given Member to each buy Order entered or executed on PEGAS Spot. Orders and Transactions which are not compliant with the trading limit are not accepted into the trading platform. Every business day at 4:00 pm CET (ECC booking cut), the limit is reset to the Initial Limit. The cash trading limits is set in Euro. The value of Orders and Transactions not denominated in Euro as defined in the Market Notice Fees, Charges, Invoices, VAT is converted according to the Central European Bank currency rate. A Member’s Available Limit is defined as the difference between the Initial Limit and the exposure of all working Orders, plus the net payment from all Transactions executed since the last ECC booking cut. The net payment is floored at zero so that the Available Limit cannot exceed the Initial Limit value.
Available Limit = Initial Limit – Max (Net Payment Amount of Transactions;0) – Exposure of Orders
The financial exposure of a working Order is defined as the net payment amount due by the Member that may result from the Order’s execution. For Orders that may result in a payment towards the Member, the financial exposure is defined as zero. Considering all Transactions executed on PEGAS Spot since the last ECC booking cut allows sell Transactions to offset buy Transactions concluded in the same time frame. The below table recaps what effects trading actions will have on the Available Limit:
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Action Impact on the Available Limit
Comment
Buy Order entry ↓ Only allowed if the Available Limit remains ≥ 0
Sell Order entry = Always allowed
Buy Order cancellation ↑ Always allowed
Sell Order cancellation = Always allowed
Buy Order is traded = Exposure already considered when the Order is posted
Sell Order is traded ↑ Only vs. buy trades performed since the last ECC booking cut
Buy Transaction ↓ Only allowed if the Available Limit remains ≥ 0
Sell Transaction ↑ Only vs. buy trades performed since the last ECC booking cut
Orders on Spreads between Products will be considered for their own value. Buy Orders at a negative price are handled like regular sell Orders, and sell Orders at a negative price are handled like regular buy Orders. Iceberg Orders are considered for their visible quantity only. When the iceberg Order is executed, the new visible quantity will be considered as a new Order and checked against the updated trading limit. Cancellations of Transactions always prevail against the value of the Available Limit. Members can contact the Operating Support as defined in the Parameters Setting Notice in case they need to know their Available Limit. 3. Procedure and consequences in case of technical problem As stated in Article 2.4.2 of the Powernext® Commodities Market Rules, in case a technical problem preventing Powernext from checking the compliance of Orders with the trading limits occurs, Powernext will communicate as soon as possible on such technical problem to the Members who will still be required to comply with their trading limit. In those cases, Powernext declines all responsibilities if the Member does not comply with its limits.
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AUCTION TRADING SESSION ON PEGAS CEGH VTP WITHIN-DAY
POWERNEXT® COMMODITIES / PEGAS Spot Notice n° COMMODITIES-2015-95
01/12/2016
Auctions on CEGH VTP Within-Day are performed to allow the 24/7 balancing on CEGH VTP by the Austrian Delivery Organization.
1. Trading session and phases
PEGAS CEGH VTP Within-Day contracts are offered in Continuous Trading the first 45 minutes of every hour. Auction Trading session in PEGAS CEGH VTP Within-Day contracts are held during the last 15 minutes of every hour. The beginning and end of Trading sessions are communicated to the members via the Trading System. The Auction Trading session is organized in the following trading phases:
Order phase: starting 45minutes after the beginning of the hour. Members can post orders in the order book. No
matching takes place.
Auction phase: will be run randomly within the last 30 to 10 seconds before the end of the hour. The trading system
freezes the order book, performs its priority rule, determines the price and executes the orders.
After Auction phase: the market is closed in order to allow Members to modify or cancel their Orders. This phase
stops 10 seconds after the beginning of the next hour.
After the end of the Auction Trading session, the Within-Day market opens in Continuous Trading. Orders posted during the trading session and not, or partially, executed will be kept in the Order Book at the end of the Auction Trading session.
2. Order matching
Orders posted on PEGAS CEGH VTP Within-Day before and during the Auction Trading Session can be fully or partially executed during the Auction phase. Order matching rules ensure that Orders are executed respecting the Price Limit defined in the Orders and according to the price determination rules below. The price determined by the Trading System follows the following rules:
(1) Maximization of the executable volume with minimization of the market surplus.
(2) If several prices are possible, market pressure is evaluated, it is corrected by using the relevant price if the pressure
is on the buy or on the sell side.
(3) If one side market pressure is not relevant, the algorithm will choose the price that is the closest to the Reference
Price provided by Powernext.
All the Orders executed at the Auction are matched automatically at a unique price according to the price determination rules.
3. The Reference Price
The Reference Price used by Powernext will be the last available CEGH VTP DAP Reference Price, computed every day for the Day-Ahead and Weekend contracts.
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PEGAS NON-MTF MARKET NOTICES
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CONTRACTS AND SPREADS BETWEEN CONTRACTS’ SPECIFICATIONS
POWERNEXT®COMMODITIES / PEGAS Non-MTF
Notice n° COMMODITIES-2017-19 20/03/2017
1. Tradable contracts on the French delivery areas
Segment PEGAS Non-MTF
Name of the Contracts PEGAS Non-MTF Futures PEG Nord
Delivery PEG Nord (GRTgaz)
Eligible Contracts
the next 4 Months the next 4 Quarters the next 4 Seasons the next 2 Calendar years
Underlying High calorific natural gas (H-gas quality) at the conditions of the TSO of the concerned delivery area
Contract Volumes units MWh/day
Contract volume 1 MWh/day
Minimum lot size 120 contracts (i.e. Min Volume = 120 MWh/day) for Orders in the Order Book 1 contract (i.e. Min Volume = 1 MWh/day) for Off-Order Book Interests
Volume tick 10 contracts (i.e. Volume Tick = 10 MWh/day) for Orders in the Order Book 1 contract (i.e. Volume Tick = 1 MWh/day) for Off-Order Book Interests
Price unit €/MWh, 3 decimal digits
Price tick 0.005 €/MWh for Orders in the Order Book 0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MWh/day) x Number of delivery days of the Contract
Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Segment PEGAS Non-MTF Name of the Contracts PEGAS Non-MTF Futures PEG Nord 1MWh/day
Delivery PEG Nord (GRTgaz)
Eligible Contracts
the next 4 Months the next 4 Quarters the next 4 Seasons the next 2 Calendar years
Underlying High calorific natural gas (H-gas quality) at the conditions of the TSO of the concerned delivery area
Contract Volumes units MWh/day Contract volume 1 MWh/day
Minimum lot size 1 contract (i.e. Volume min = 1MWh/day) for Orders in the Order Book
Volume tick 1 contract (volume tick= 1 MWh/day) for Orders in the Order Book
Price unit €/MWh, 3 decimal digits
Price tick 0.005 €/MWh for Orders in the Order Book 0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MWh/day) x Number of delivery days of the Contract
Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
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2. Tradable contracts on the Dutch delivery area
Segment PEGAS Non-MTF Futures
Name of the Contracts PEGAS Non-MTF Futures TTF
Delivery TTF (Gasunie Transport Services) Eligible Contracts
the next 4 Months the next 5 Quarters the next 4 Seasons the next 4 Calendar years
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Contract Volumes units MW Contract volume 1 MW
Minimum lot size 5 contracts (i.e. Min Volume = 5 MW) for Orders in the Order Book 1 contract (i.e. Min Volume = 1 MW) for Off-Order Book Interests
Volume tick 5 contracts (i.e. Volume Tick = 5 MW) for Orders in the Order Book 1 contract (i.e. Volume Tick = 1 MW) for Off-Order Book Interests
Price unit €/MWh, 3 decimal digits Price tick 0.005 €/MWh for Orders in the Order Book
0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Segment PEGAS Non-MTF Futures
Name of the Contracts PEGAS Non-MTF Futures TTF 1MW
Delivery TTF (Gasunie Transport Services)
Eligible Contracts
the next 4 Months the next 5 Quarters the next 4 Seasons the next 4 Calendar years
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Contract Volumes units MW
Contract volume 1 MW Minimum lot size 1 contrat (i.e. Volume min = 1MW) for Orders in the Order Book
Volume tick 1 contract (i.e. Volume Tick = 1 MW) for Orders in the Order Book
Price unit €/MWh, 3 decimal digits Price tick 0.005 €/MWh for Orders in the Order Book
0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
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3. Tradable contracts on the German delivery areas
Segment PEGAS Non-MTF
Name of the Contracts PEGAS Non-MTF Futures NCG PEGAS Non-MTF Futures GASPOOL
Delivery NCG (NetConnect Germany) GASPOOL (GASPOOL Balancing Services)
Eligible Contracts
the next 4 Months the next 4 Quarters the next 4 Seasons
the next 4 Calendar years the next 4 Months the next 4 Quarters the next 4 Seasons the next 4 Calendar years
Underlying High calorific natural gas (H-Gas quality) at the conditions of the Market Area Manager of the concerned market area
Contract Volumes units MW
Contract volume 1 MW
Minimum lot size 5 contracts (i.e. Min Volume = 5 MW) for Orders in the Order Book 1 contract (i.e. Min Volume = 1 MW) for Off-Order Book Interests
Volume tick 5 contracts (i.e. Volume Tick = 5 MW) for Orders in the Order Book 1 contract (i.e. Volume Tick = 1 MW) for Off-Order Book Interests
Price unit €/MWh, 3 decimal digits
Price tick 0.005 €/MWh for Orders in the Order Book 0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Delivery All contracts lead to physical deliveries on the specified virtual point of the market area. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Segment PEGAS Non-MTF Futures Name of the Contracts PEGAS Non-MTF Futures NCG 1 MW PEGAS Non-MTF Futures GASPOOL 1
MW
Delivery NCG (NetConnect Germany) GASPOOL (GASPOOL Balancing Services)
Eligible Contracts
the next 4 Months the next 4 Quarters the next 4 Seasons
the next 4 Calendar years the next 4 Months the next 4 Quarters the next 4 Seasons the next 4 Calendar years
Underlying High calorific natural gas (H-Gas quality) at the conditions of the Market Area Manager of the concerned market area
Contract Volumes units MW
Contract volume 1 MW
Minimum lot size 1 contracts (i.e. Min Volume = 1 MW) for Orders in the Order Book Volume tick 1 contracts (i.e. Volume Tick = 1 MW) for Orders in the Order
Price unit €/MWh, 3 decimal digits Price tick 0.005 €/MWh for Orders in the Order Book
0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
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Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
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4. Tradable contracts on the Belgian delivery area
Segment PEGAS Non-MTF
Name of the Contracts PEGAS Non-MTF ZTP
Delivery ZTP (Fluxys) Eligible Contracts the next Month
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Contract Volumes units MW Contract volume 1 MW
Minimum lot size 5 contracts (i.e. Min Volume = 5 MW) for Orders in the Order Book 1 contract (i.e. Min Volume = 1 MW) for Off-Order Book Interests
Volume tick 5 contracts (i.e. Volume Tick = 5 MW) for Orders in the Order Book 1 contract (i.e. Volume Tick = 1 MW) for Off-Order Book Interests
Price unit €/MWh, 3 decimal digits
Price tick 0.005 €/MWh for Orders in the Order Book 0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Segment PEGAS Non-MTF
Name of the Contracts PEGAS Non-MTF ZEE
Delivery ZEE (Fluxys) Eligible Contracts the next 3 Months
the next 3 Quarters the next 3 Seasons the next Calendar year
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Contract Volumes units Kilotherms per day (Kth/d) (1 therm = 29.3071 kilowatt hours) Contract volume 1 kth/d or 1,000 therms/day
Minimum lot size 5 contracts (i.e. Min Volume = 5,000 therms/day) for Orders in the Order Book 1 contract (i.e. Min Volume = 1,000 therms/day) for Off-Order Book Interests
Volume tick 5 contracts (i.e. Min Volume = 5,000 therms/day) for Orders in the Order Book 1 contract (i.e. Min Volume = 1,000 therms/day) for Off-Order Book Interests
Price unit GBP pence per therm (p/th), 3 decimal digits Price tick GBP 0.005 p/th for Orders in the Order Book
GBP 0.001 p/th for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1,000 therms/day) x Number of delivery days of the Contract
Delivery All contracts lead to physical deliveries on the specified physical point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
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5. Tradable contracts on the British delivery area
Segment PEGAS Non-MTF
Name of the Contracts PEGAS Non-MTF NBP
Delivery NBP (National Grid) Eligible Contracts the next 4 Months
the next 4 Quarters the next 4 Seasons the next 3 Calendar years
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Contract Volumes units Kilotherms per day (Kth/d) (1 therm = 29.3071 kilowatt hours) Contract volume 1 kth/d or 1,000 therms/day
Minimum lot size 5 contracts (i.e. Min Volume = 5,000 therms/day) for Orders in the Order Book 1 contract (i.e. Min Volume = 1,000 therms/day) for Off-Order Book Interests
Volume tick 5 contracts (i.e. Min Volume = 5,000 therms/day) for Orders in the Order Book 1 contract (i.e. Min Volume = 1,000 therms/day) for Off-Order Book Interests
Price unit GBP pence per therm (p/th), 3 decimal digits Price tick GBP 0.005 p/th for Orders in the Order Book
GBP 0.001 p/th for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1,000 therms/day) x Number of delivery days of the Contract
Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
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6. Tradable contracts on the Italian delivery area
Segment PEGAS Non-MTF Futures
Name of the Contracts PEGAS Non-MTF Futures PSV
Delivery PSV (Punto di Scambio Virtuale) Eligible Contracts
the next 3 Months the next 3 Quarters the next 2 Seasons the next Calendar year
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Contract Volumes units MW Contract volume 1 MW
Minimum lot size 5 contracts (i.e. Min Volume = 5 MW) for Orders in the Order Book 1 contract (i.e. Min Volume = 1 MW) for Off-Order Book Interests
Volume tick 5 contracts (i.e. Volume Tick = 5 MW) for Orders in the Order Book 1 contract (i.e. Volume Tick = 1 MW) for Off-Order Book Interests
Price unit €/MWh, 3 decimal digits Price tick 0.005 €/MWh for Orders in the Order Book
0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract x24 (in daily flat, i.e. not taking into account summer/winter time-shift)
Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1 (and is supposed to be 24h every day of the year).
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7. Tradable contracts on the Danish delivery area
Segment PEGAS Non-MTF Futures
Name of the Contracts PEGAS Non-MTF Futures ETF
Delivery ETF (Energinet.dk) Eligible Contracts
the Front Month
Underlying Natural gas at the conditions of the TSO of the concerned delivery area Contract Volumes units MW
Contract volume 1 MW
Minimum lot size 5 contracts (i.e. Min Volume = 5 MW) for Orders in the Order Book 1 contract (i.e. Min Volume = 1 MW) for Off-Order Book Interests
Volume tick 5 contracts (i.e. Volume Tick = 5 MW) for Orders in the Order Book 1 contract (i.e. Volume Tick = 1 MW) for Off-Order Book Interests
Price unit €/MWh, 3 decimal digits
Price tick 0.005 €/MWh for Orders in the Order Book 0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
Segment PEGAS Non-MTF Futures
Name of the Contracts PEGAS Non-MTF Futures ETF 1MW
Delivery ETF (Energinet.dk) Eligible Contracts
the Front Month
Underlying Natural gas at the conditions of the TSO of the concerned delivery area Contract Volumes units MW
Contract volume 1 MW
Minimum lot size 1 contrat (i.e. Volume min = 1MW) for Orders in the Order Book Volume tick 1 contract (i.e. Volume Tick = 1 MW) for Orders in the Order Book
Price unit €/MWh, 3 decimal digits
Price tick 0.005 €/MWh for Orders in the Order Book 0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
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8. Tradable contracts on the Austrian Delivery Area
Segment PEGAS Non-MTF Futures
Name of the Contracts PEGAS Non-MTF Futures CEGH VTP
Delivery CEGH VTP (Central European Gas Hub AG) Eligible Contracts
the next 3 Months the next 4 Quarters the next 3 Seasons the next 2 Calendar years
Underlying Natural gas at the conditions of the TSO of the concerned delivery area
Contract Volumes units MW Contract volume 1 MW
Minimum lot size 5 contracts (i.e. Min Volume = 5 MW) for Orders in the Order Book 1 contract (i.e. Min Volume = 1 MW) for Off-Order Book Interests
Volume tick 5 contracts (i.e. Volume Tick = 5 MW) for Orders in the Order Book 1 contract (i.e. Volume Tick = 1 MW) for Off-Order Book Interests
Price unit €/MWh, 3 decimal digits Price tick 0.005 €/MWh for Orders in the Order Book
0.001 €/MWh for Off-Order Book Interests
Total Contract Volume = Number of contracts x Contract volume (1 MW) x Number of delivery hours of the Contract (taking into account summer/winter time-shift)
Delivery All contracts lead to physical deliveries on the specified virtual point of the gas transport network. Delivery occurs each calendar day of the delivery period for the contract under consideration. For a given day D of the delivery period, the delivery goes from 06:00 a.m. CET of day D to 06:00 a.m. CET of day D+1.
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9. Spread on Tradable Contracts
Powernext offers the possibility to trade the Spread between some of the contracts listed on its Market Segments. Trading these spreads result in buying (respectively selling) the first Underlying contract and selling (respectively buying) the second Underlying contract.
Spreads between contracts of different delivery areas are as follows and are tradable on the following maturities:
PEGAS Non-MTF Futures TRS / PEGAS Non-MTF Futures PEG Nord
the next Month
PEGAS Non-MTF Futures PEG Nord / PEGAS Non-MTF Futures TTF
the next 4 Months the next 4 Quarters the next 4 Seasons the next 2 Calendar year
PEGAS Non-MTF Futures PEG Nord / PEGAS Non-MTF Futures ZTP
the next Month
PEGAS Non-MTF Futures PEG Nord / PEGAS Non-MTF Futures NCG
the next 4 Months the next 4 Quarters the next 4 Seasons the next 2 Calendar year
PEGAS Non-MTF Futures GASPOOL / PEGAS Non-MTF Futures NCG
the next 4 Months the next 4 Quarters the next 4 Seasons the next 4 Calendar year
PEGAS Non-MTF Futures NCG / PEGAS Non-MTF Futures TTF
the next 4 Months the next 4 Quarters the next 4 Seasons the next 4 Calendar year
PEGAS Non-MTF Futures GASPOOL / PEGAS Non-MTF Futures TTF
the next 4 Months the next 4 Quarters the next 4 Seasons the next 4 Calendar year
PEGAS Non-MTF Futures ZTP / PEGAS Non-MTF Futures TTF
the next Month
PEGAS Non-MTF Futures ZTP / PEGAS Non-MTF Futures NCG
the next Month
PEGAS Non-MTF Futures ZTP / PEGAS Non-MTF Futures GASPOOL
the next Month
PEGAS Non-MTF Futures ZEE / PEGAS Non-MTF Futures NBP
the next 3 Months the next 3 Quarters the next 3 Seasons the next Calendar year
PEGAS Non-MTF Futures PSV / PEGAS Non-MTF Futures TTF
the 3 next Months the 3 next Quarters the 2 next Seasons the next Calendar year
PEGAS Non-MTF Futures ETF / PEGAS Non-MTF Futures TTF
the front Month
PEGAS Non-MTF Futures ETF / PEGAS Non-MTF Futures NCG
the front Month
PEGAS Non-MTF Futures ETF / PEGAS Non-MTF Futures GASPOOL
the front Month
PEGAS Non-MTF Futures CEGH VTP / PEGAS Non-MTF Futures TTF
the 3 next Months the 4 next Quarters the 3 next Seasons the 2 Calendar years
PEGAS Non-MTF Futures CEGH VTP / PEGAS Non-MTF Futures NCG
the 3 next Months the 4 next Quarters
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the 3 next Seasons the 2 Calendar years
PEGAS Non-MTF Futures CEGH VTP / PEGAS Non-MTF Futures GASPOOL
the 3 next Months the 4 next Quarters the 3 next Seasons the 2 Calendar years
PEGAS Non-MTF Futures PSV / PEGAS Non-MTF Futures CEGH VTP
the 3 next Months the 3 next Quarters the 2 next Seasons the next Calendar year
Spreads between contracts of same maturity are as follows and are tradable on the following delivery areas:
PEGAS Non-MTF Futures PEG Nord
all the combinations of Spreads between 2 Months all the combinations of Spreads between 2 Quarters all the combinations of Spreads between 2 Seasons the Spread between the 2 Calendar years
PEGAS Non-MTF Futures TTF
all the combinations of Spreads between 2 Months all the combinations of Spreads between 2 Quarters all the combinations of Spreads between 2 Seasons all the combinations of Spreads between 2 Calendar years
PEGAS Non-MTF Futures NCG
PEGAS Non-MTF Futures GASPOOL
all the combinations of Spreads between 2 Months all the combinations of Spreads between 2 Quarters all the combinations of Spreads between 2 Seasons all the combinations of Spreads between 2 Calendar years
PEGAS Non-MTF ZEE all the combinations of Spreads between 2 Months all the combinations of Spreads between 2 Quarters all the combinations of Spreads between 2 Seasons
PEGAS Non-MTF NBP all the combinations of Spreads between 2 Months all the combinations of Spreads between 2 Quarters all the combinations of Spreads between 2 Seasons
all the combinations of Spreads between 2 Calendar years
PEGAS Non-MTF Futures PSV all the combinations of Spreads between 2 Months all the combinations of Spreads between 2 Quarters the Spreads between the 2 Seasons
PEGAS Non-MTF Futures CEGH VTP all the combinations of Spreads between 2 Months
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all the combinations of Spreads between 2 Quarters all the combinations of Spreads between 2 Seasons the Spread between the 2 Calendar years
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FEES, CHARGES, INVOICES, VAT
POWERNEXT®COMMODITIES / PEGAS Non-MTF
Notice n° COMMODITIES-2017-05 24/01/2017
Notice n° COMMODITIES-2017-08 01/02/2017
Article 1. Annual fees
1- Annual Membership fees
Annual membership fees on PEGAS Non-MTF on the following countries and delivery zones:
Germany: NCG, GASPOOL,
Belgium: ZTP, ZEE
France : PEG Nord, TRS
Italy : PSV
Netherlands : TTF
United Kingdom : NBP are determined according to the number of countries
included in the Member’s subscription,
(1) Up to two countries EUR 9,000
(2) More than two countries EUR 15,000
For such countries and in case of multiple accesses to PEGAS Spot, PEGAS Non-MTF and PEGAS Regulated Market:
The total amount of annual membership fees shall be limited to EUR 9,000 for Members who join package (1).
The total amount of annual membership fees shall be limited to EUR 15,000 for Members who join package (2).
For the subscriptions (1) and (2), the first year of annual membership fees will be free of charge for new members. A member who choses at first a subscription to up to two countries (1) will be able to change for the first time to a subscription to more than two countries (2) without paying the difference in fees between the two subscriptions for 12 months. (3) Annual membership fees on PEGAS Non-MTF for Denmark ETF Delivery Zone are EUR 10,000.
For Denmark and in case of multiple accesses to PEGAS Spot, PEGAS Non-MTF and PEGAS Regulated Market: the total amount of annual membership fees shall be limited to EUR 10,000 for Members who join package (3). For the subscriptions (3) in 2017, the first year of annual membership fees will be free of charge for new members.
(4) Annual membership fees on PEGAS Non-MTF for Austria CEGH VTP Delivery Zone are EUR 15,200.
For Austria and in case of multiple accesses to PEGAS Spot, PEGAS Non-MTF and PEGAS Regulated Market: the total amount of annual membership fees shall be limited to EUR 15,200 for Members who join package (4).
2- Annual membership fees for Clearing Members
The Annual membership fees shall be limited to EUR 4,000 for Clearing Member who trade for their own account only if one of their clients defaults. These reduced fees entitle the Clearing Member to a single trading license, which shall be activated solely to manage the position of a defaulting client.
3- Other annual fees
An annual technical Fee of EUR 1,800 per year shall be invoiced for each user license. License for a downstream account for Trayport Trading Gateway® users shall be charged EUR 1,800 per year. Both membership and technical annual fees are payable monthly by the Members and invoiced at the end of each calendar month. Membership annual fees are established the first day of each month from the date of trading commencement. Technical annual fees are established at the last day of each month from the date of trading commencement.
Article 2. Trading fees for Non-MTF Market
4- Trading fees
Trading fees for Transactions resulting from the Order Book shall be:
EUR/MWh 0.005 for PEG Nord, TRS and ZTP
EUR/MWh 0.0025 for NCG, GASPOOL and PSV
EUR/MWh 0.002 for TTF
GBP Pence per Therm 0.0007 for ZEE, NBP
EUR/MWh 0.005 for ETF
EUR/MWh 0.003 for CEGH VTP
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In case of a Transaction on a Spread between contracts of different delivery areas, only the trading fee on the first underlying Contract is applicable.
In case of a Transaction on a Spread between contracts of the same maturity, only the trading fee on the second underlying contract is applicable.
In case of a Transaction on an Implied Order, only the Trading fee of the underlying contract of the Implied Order executed on screen is applicable.
Trading fees for Transactions resulting from Off-Order Book Interests (Trade Registration) shall be:
EUR/MWh 0.005 for PEG Nord, TRS and ZTP
EUR/MWh 0.0025 for NCG, GASPOOL and PSV
EUR/MWh 0.002 for TTF
GBP Pence per Therm 0.0007 for ZEE and NBP
EUR/MWh 0.005 for ETF
EUR/MWh 0.003 for CEGH VTP
Trading fees shall be calculated for each calendar month. They are payable by the Member on the last day of each month. Invoices will be stipulated in EUR.
5- Trade Cancellation
The fees for cancelling a Transaction are detailed in the table hereunder. These fees shall be charged only to the party requesting the cancellation. If a cancellation concerns multiple Transactions, only the fee applicable to the longest maturity or the most important volume will be applied.
Cancellation fee applicable for contracts quoted in EUR are:
Contract Cancellation fee (EUR)
Month 1,000
Quarter 1,500
Season 2,000
Calendar 2,500
Cancellation fee applicable for contracts quoted in GBP are:
Contract Cancellation fee (GBP)
Month 800
Quarter 1,200
Season 1,600
Calendar 2,000
6- Invoicing
The fees mentioned in this article shall be billed monthly and included in the invoices mentioned in Article 2.
Powernext SA shall issue electronic invoices. These invoices shall be available on an FTP server accessible in SFTP and via an https webpage at the address communicated to the Members. As an exception, invoices for CEGH VTP Membership fees will be sent by email by Central European Gas Hub AG on behalf of Powernext.
Upon express and written demand to Powernext SA, Members may receive hard copies of the invoices issued to Powernext SA.
Article 3. Value Added Tax on fees
The fees referred to in Articles 1 to 2 of this Appendix assimilated to a provision of services (Article 256 IV of the French Tax Code). The place of supply of such services is where the buyer is established for VAT purposes according to article 259-1 of the French tax code/Article 44 of the directive 2006/112/EC. They are subject to French Value Added Tax at the rate of 20% if the buyer is a French resident or a French establishment of a foreign business. They are not subject to French Value-Added-Tax if the buyer is liable to pay Value-Added Tax in another European Union Member State (in such case Value-Added Tax is due by the buyer in the member state in which the tax is due pursuant to article 196 of the directive 2006/112/EC) or is established outside the European Union. Moreover the buyer acknowledges that VAT should be self-assessed by the buyer pursuant to the tax law applicable in the State where the buyer has its residence. The buyer shall fully hold Powernext harmless in case it did not comply with its tax related obligations towards a State.
Article 4. Payment
The fees referred to in Articles 1 to 3 shall be payable on the date of receipt of the electronic copy of the invoice. They shall be collected by ECC the following days and remitted entirely to Powernext SA.
If the amounts invoiced are not paid in full within the specified deadline, the sums owed are increased, by right, and without the need for a formal notice to pay, of a fixed rate for recovery fees of forty (40) euros (art. L441-3 French Commercial Code) in addition to interests for late payments at a rate equal to three times the legally chargeable interest rate. These penalties are due on the day following the due date mentioned on the invoice.
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PARAMETERS AND TECHNICAL PROVISIONS
POWERNEXT®COMMODITIES / PEGAS Non-MTF
Notice n° COMMODITIES-2017-06 24/01/2017
1 Delivery Organisations on PEGAS Non-MTF Pursuant to Article 4.1.4 of the Market Rules of the Powernext® Commodities, Powernext SA hereby publishes the list of Delivery Organisations on PEGAS Non-MTF Futures:
GRTgaz PEG Nord
NetConnect Germany NCG
Gaspool Balancing Services GASPOOL
Gasunie Transport Services (GTS) TTF
SNAM Rete Gas PSV
Energinet.dk, natural gas Transmission System Operator of the Danish region
Central European Gas Hub AG, Market Area Manager for Austria
2 Operating support Members shall have access to hotline support for Global Vision and for the Off-Order Book Interest Registration System, particularly as regards:
queries about system functions and queries about the Off-Order Book Interest Registration System,
queries about any malfunctions that may occur.
Authorized Registering Brokers shall have access to hotline support for the Off-Order Book Interest Registration System, particularly as regards:
queries about the functions of the Off-Order Book Interest Registration System,
queries about any malfunctions that may occur.
Operating support is provided 24/7 by the following communication means:
Mail Phone
Mon Fri, during Business hours (08 :00-18 :30CET) [email protected] +33 1 73 03 96 24
Out of Business hours (including week ends and Bank Holidays) [email protected]
During off business hours, a limited service is provided to Members. For instance, account setup or modifications and trade on behalf are not performed.
This support service does not cover malfunctions related to the configuration of the Members' or Registering Brokers’ equipment or Internet connections.
3 Transaction Cancellation Pursuant to Article 1.4.2.9 1° of the Powernext® Commodities Market Rules, the cancellation requests must be telephoned to Powernext SA (contact numbers specified above) no later than ten (10) minutes after Matching has occurred. Powernext SA informs the market when the cancellation is effective.
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4 Price References: PEGAS Futures Monthly Index Powernext SA indicates hereafter the list of Delivery Zones for which the PEGAS Futures Monthly Index will be published in accordance with article 4.5.1. of the Market Rules of Powernext® Commodities:
PEG Nord front Month Contract TRS front Month Contract TTF front Month Contract PSV front Month Contract ETF front Month Contract CEGH VTP front month Contract
The calculation rule of the PEGAS Futures Monthly Index is defined in a Market Notice.
5 Configuration, licences and support
5.1 Configuration of the Member's and of the Authorised Registering Broker’s equipment Members shall have the following hardware and software:
a PC running Windows, with a pack permitting 128 bit encryption, with a processor of at least 2 GHz Pentium class,
memory at least 2 GB RAM with one of the following Operating System:
o Microsoft Windows Vista Business o Microsoft Windows XP with service pack 2 o Microsoft Windows 7.
a firewall with the following ports open: o TCP 12995 o TCP 12997 o TCP 443
an internet connection and Microsoft Internet Explorer version 6 or higher.
Registering Brokers shall have the following hardware and software:
a PC running Windows, with a pack permitting 128 bit encryption, with a processor of at least 2 GHz Pentium class,
memory at least 2 GB RAM with one of the following Operating System:
o Microsoft Windows Vista Business o Microsoft Windows XP with service pack 2 o Microsoft Windows 7.
a firewall with the following ports open: o TCP 443
an internet connection and Microsoft Internet Explorer version 6 or higher.
5.2 Licence for the Global Vision system Before using the Global Vision system, Members must accept the terms of the licence, which is displayed in electronic form when the system is used for the first time.
If the aforementioned licence or the Trading Agreement is terminated, Members must uninstall and completely remove Global Vision from their systems.
5.3 Operating and technical documentation The documentation mentioned in the Trading Agreement ("Technical documentation") and in the Powernext® Brokers Agreement shall be made available by Powernext SA by any means at its disposal.
The purpose of such documentation is to provide the explanations needed for using Global Vision software and the Off-Order Book Interest Registration System. It is subject to change and has no contractual value. These recommendations must be followed to ensure proper use of the Trading Systems and proper Registration of Off-Order Book Interests.
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6 Communications on PEGAS Non-MTF
Normal procedures
Transmission of Orders
Publication Order Book
Publication of Transactions
Transmission of Back-Office documents
Information sent
Prices Volumes Order types Order
Condition
Prices Volumes Order types Order
Condition
Prices Volumes Time of the
Transaction
Member « Trades » files
invoices for annual Membership fees, annual technical fees, trading fees and other fees
Schedule/ Frequency of dispatch
In real time during the opening times of the Order Book.
In real time during the opening times of the Order Book.
During a trading session, in real time, as soon as the transaction is executed.
8.00 am -06:15pm Monthly
Sender Members Powernext SA Powernext SA Powernext SA Powernext SA
Receiver Powernext SA Members Members Trading Members Trading Members
Primary system used
GlobalVision GlobalVision GlobalVision FTP Powernext FTP Powernext
Secondary system used
Fax / Phone FTP Server Email
Email Mail
Fallback procedures
If the trading system is unavailable:
Trading shall be suspended.
Powernext shall inform Members by any means including emails of the trading suspension and when trading will resume.
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CLOSING PRICE METHODOLOGY
POWERNEXT®COMMODITIES / PEGAS Non-MTF
Notice n° COMMODITIES-2017-07 24/01/2017
Powernext has designed a methodology to determine the Closing Prices of the PEGAS Non-MTF Futures contracts. The aims of the following document are to:
Describe the Closing Price calculation methodology and give the values of the parameters utilised in the calculation;
Indicate in which case the Closing Price is determined by a Price Committee.
The Closing Price is calculated for the following contracts:
Contracts liquidated through physical settlement
PEGAS Non-MTF Futures PEG Nord
PEGAS Non-MTF Futures TRS
PEGAS Non-MTF Futures TTF
PEGAS Non-MTF Futures NCG
PEGAS Non-MTF Futures GASPOOL
PEGAS Non-MTF Futures ZTP
PEGAS Non-MTF Futures ZEE
PEGAS Non-MTF Futures NBP
PEGAS Non-MTF Futures PSV
PEGAS Non-MTF Futures ETF
PEGAS Non-MTF Futures CEGH VTP
The transactions coming from Off-order Book Interests are not taken into account for determining the Closing Prices.
Powernext SA adjusts the Closing Prices of the contracts which Delivery Periods match. Adjustment of the Closing Prices takes into account the duration of the Delivery Periods in number of hours.
Table of Content
STEP 1: CONTRACTS CONSIDERED
STEP 2: DEFINITION OF THE CLOSING PERIOD DURATION
STEP 3: FILTERING OF ORDERS AND TRADES OF SUFFICIENT VOLUME
STEP 4: DETERMINATION OF THE CUMULATED SPREAD DURATION
STEP 5: CALCULATION OF THE AVERAGE ASK AND THE AVERAGE BID
STEP 6: CALCULATION OF THE AVERAGE MID AND AVERAGE SPREAD
STEP 7: CALCULATION OF THE WEIGHTED AVERAGE TRADE PRICE
STEP 8: PRICE COMMITTEE TRIGGERING CONDITIONS
STEP 9: CALCULATION OF THE CLOSING PRICE
STEP 10: ADJUSTMENT OF CLOSING PRICES FOR OVERLAPPING CONTRACTS
STEP 11: ROUNDING OF THE CLOSING PRICE
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The following methodology applies to all Instruments of PEGAS Non-MTF Market Segment.
Step 1: Contracts considered
The market data taken into account in order to establish the Closing Price of the following contracts
PEGAS Non-MTF Futures PEG Nord ; PEGAS Non-MTF Futures TRS ; PEGAS Non-MTF Futures TTF ; PEGAS Non-MTF Futures NCG ; PEGAS Non-MTF Futures GASPOOL ; PEGAS Non-MTF Futures PSV ; PEGAS Non-MTF Futures ZTP ; PEGAS Non-MTF Futures ZEE ; PEGAS Non-MTF Futures NBP ; PEGAS Non-MTF Futures ETF ; PEGAS Non-MTF Futures CEGH VTP
are coming both from the PEGAS Non-MTF Order Books and from the PEGAS Regulated Market Order Books. The considered contracts from PEGAS Regulated Market are respectively the following:
PEGAS Regulated Market Futures PEG Nord ; PEGAS Regulated Market Futures TRS ; PEGAS Regulated Market Futures TTF ; PEGAS Regulated Market Futures NCG ; PEGAS Regulated Market Futures GASPOOL ; PEGAS Regulated Market Futures PSV ; PEGAS Regulated Market Futures ZTP ; PEGAS Regulated Market Futures ZEE ; PEGAS Regulated Market Futures NBP; PEGAS Regulated Market Futures ETF; PEGAS Non-MTF Futures CEGH VTP.
The terms « PEG Nord », « TRS », « TTF », « NCG », « GASPOOL », « PSV », « ZTP », « ZEE », « NBP », « ETF », and « CEGH VTP » shall be understood as referring to both PEGAS Regulated Market Futures and PEGAS Non-MTF Futures contracts.
The Closing Period is the period at the end of the trading session when Powernext SA collects gross data necessary for the calculation of Closing Prices sent to the Clearing House. The Clearing House can choose to use them or not when establishing its Settlement Prices. Settlement Prices are used by the Clearing House to set up the prices at which the end-of-the-day Open Positions will be marked in its clearing process. The Closing Prices are determined according to the following methodology.
Step 2: definition of the Closing Period Duration
The methodology to determine the Closing Price of the contracts is based on a Closing Period of 15 minutes. This Closing Period starts at 05:15PM CET and finishes at 05:30PM CET.
Step 3: filtering of orders and trades of sufficient volume
The Minimal Closing Volume is the minimum volume of a Trade or an Order to be taken into account in the computation of the Closing Price.
Both average mid spreads and trades (weighted by their volumes) during the Closing Period are taken into account. Bid/ask Orders and Trades strictly below certain volumes are not taken into account. The minimum volumes for Orders and for Trades are indicated in Table 1.
Contract type
TRS PEG Nord TTF NCG
GASPOOL ZTP
PSV
NBP ZEE ETF CEGH VTP
Minimum Volume
M+1 720 MWh/j 720 MWh/j 30 MW 10 MW 10 MW 10 MW 25 Kth 25 Kth 10 MW 10 MW
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M+2 n/a 720 MWh/j 30 MW 10 MW n/a 10 MW 25 Kth 25 Kth n/a 10 MW
M+3 n/a 720 MWh/j 30 MW 10 MW n/a 10 MW 25 Kth 25 Kth n/a 10 MW
M+4 n/a 720 MWh/j 30 MW 10 MW n/a n/a 25 Kth n/a n/a n/a
Q+1 n/a 720 MWh/j 30 MW 10 MW n/a 10 MW 25 Kth 25 Kth n/a 10 MW
Q+2 n/a 720 MWh/j 30 MW 10 MW n/a 10 MW 25 Kth 25 Kth n/a 10 MW
Q+3 n/a 240 MWh/j 30 MW 10 MW n/a 10 MW 25 Kth 25 Kth n/a 10 MW
Q+4 n/a 240 MWh/j 30 MW 10 MW n/a n/a 25 Kth n/a n/a 10 MW
Q+5 n/a n/a 30 MW n/a n/a n/a n/a n/a n/a n/a
S+1 n/a 720 MWh/j 30 MW 10 MW n/a 10 MW 25 Kth 25 Kth n/a 10 MW
S+2 n/a 720 MWh/j 30 MW 10 MW n/a 10 MW 25 Kth 25 Kth n/a 10 MW
S+3 n/a 720 MWh/j 30 MW 10 MW n/a n/a 25 Kth 25 Kth n/a 10 MW
S+4 n/a 720 MWh/j 30 MW 10 MW n/a n/a 25 Kth n/a n/a n/a
C+1 n/a 240 MWh/j 10 MW 10 MW n/a 10 MW 5 Kth 5 Kth n/a 10 MW
C+2 n/a 240 MWh/j 10 MW 10 MW n/a n/a 5 Kth n/a n/a 10 MW
C+3 n/a n/a 10 MW 10 MW n/a n/a 5 Kth n/a n/a n/a
C+4 n/a n/a 10 MW 10 MW n/a n/a n/a n/a n/a n/a
Table 1 Minimum volume for Orders and Trades
Step 4: determination of the Cumulated Spread Duration
The CumulatedSpreadDuration is the cumulated duration of present spreads during the Closing Period. It is defined as the cumulative time during which both ask and bid Orders with sufficient volume (see Table 1) are displayed on screen.
Example
Orders of sufficient volume during the 15 minutes Closing Period are represented on figure 1. The Closing Period is decomposed into subperiods that correspond to constant best bid and ask prices. Whenever one of these prices is changing, a new subperiod is created. Intervals during which no bid or no ask Order of sufficient volume are present will be skipped. In figure 1, between periods A and B, there is for example no ask Order (or the ask Orders are all below the minimum volume).
CumulatedSpreadDuration = Duration(A) + Duration(B) + Duration(C) + Duration(D) + Duration(E)
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Figure 1 CumulatedSpreadDuration during the Closing Period
Step 5: calculation of the AverageAsk and the AverageBid
The Average Ask is the average value of the best ask Orders during the Cumulated Spread Duration.
Example:
If the Cumulated Spread Duration is composed of 5 subperiods A, B, C, D, E:
Average Ask = [Duration(A)*Ask(A) + Duration(B)*Ask(B) + Duration(C)*Ask(C) + Duration(D)*Ask(D) + Duration(E)*Ask(E)] / CumulatedSpreadDuration
The Average Bid is the average value of the best bid Orders during the Cumulated Spread Duration.
Example
If the Cumulated Spread Duration is composed of 5 subperiods A, B, C, D, E:
AverageBid = [Duration(A)*Bid(A) + Duration(B)*Bid(B) + Duration(C)*Bid(C) + Duration(D)*Bid(D) + Duration(E)*Bid(E)] / CumulatedSpreadDuration
Step 6: calculation of the AverageMid and AverageSpread
The Average Mid is the average between Average Ask and Average Bid:
AverageMid = (AverageAsk+AverageBid)/2
The Average Spread is the difference between Average Ask and Average Bid
AverageSpread = AverageAsk – AverageBid
Closing Period (15 min)
A B C D E
ASK
BID
Transaction 1 Transaction
2
05:30PM 05:15PM
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Step 7: calculation of the WeightedAverageTradePrice
The Weighted Average Trade Price is the average price of the Trades (of sufficient volume) weighted by their volumes.
The Synthetic Prices of the Spreads resulting from a Trade on a Spread Product are taken into consideration in the calculation.
Example for TTF:
If two trades of sufficient volume are observed on a Product whose Delivery Zone is TTF or on a Spread on TTF (whether it is listed on PEGAS Non-MTF or on PEGAS Regulated Market) during the Calculation Period:
WeightedAverageTradePrice(TTF) = [Price(Trade1)*Volume(Trade1) + Price(Trade2)*Volume(Trade2)] / [Volume(Trade1) + Volume(Trade2)]
Step 8: Price Committee triggering conditions
For a given contract, a Price Committee is called if there is no trade and one of the two following conditions on the CumulatedSpreadDuration (condition A) and/or AverageSpread (condition B) is not met:
Condition A (Minimum Cumulated Spread Duration)
CumulatedSpreadDuration ≥ 0.2 * ClosingPeriodDuration
Condition B (Maximum Average Spread Level)
AverageSpread ≤ MaxSpread[contract]
MaxSpread is the maximum average spread value that a contract can have to be taken into account. The MaxSpread values for each contract are indicated in Table 2, where, for instance, M means the current month and M+1 the following one:
Contract ZTP TRS PEG Nord TTF NCG GASPOOL PSV
NBP ZEE ETF
CEGH VTP
MaxSpread
M+1 1,50 €/MWh 1,50 €/MWh 0,60 €/MWh 0,60 €/MWh 0,600
€/MWh 0,600
€/MWh 0,80 €/MWh 0,60 p/th 0,60 p/th 0,80 €/MWh 0,60 €/MWh
M+2 n/a n/a 0,80 €/MWh 0,80 €/MWh 0,800
€/MWh 0,800
€/MWh 1,00 €/MWh 0,80 p/th 0,80 p/th n/a 0,60 €/MWh
M+3 n/a n/a 1,00 €/MWh 1,00 €/MWh 1,000
€/MWh 1,00 €/MWh 1,20 €/MWh 1,00 p/th 1,00 p/th n/a 1,00 €/MWh
M+4 n/a n/a 1,00 €/MWh 1,00 €/MWh 1,000
€/MWh 1,00€/MWh n/a 1,00 p/th n/a n/a n/a
Q+1 n/a n/a 0,80 €/MWh 0,80 €/MWh 1,00 €/MWh 1,00 €/MWh 1,00 €/MWh 0,80 p/th 0,80 p/th n/a 1,00 €/MWh
Q+2 n/a n/a 1,00 €/MWh 1,00 €/MWh 1,00 €/MWh 1,00 €/MWh 1,20 €/MWh 1,00 p/th 1,00 p/th n/a 1,00 €/MWh
Q+3 n/a n/a 1,40 €/MWh 1,20 €/MWh 1,00 €/MWh 1,00 €/MWh 1,40 €/MWh 1,20 p/th 1,40 p/th n/a 1,00 €/MWh
Q+4 n/a n/a 1,40 €/MWh 1,20 €/MWh 1,00 €/MWh 1,00 €/MWh n/a 1,20 p/th n/a n/a 1,50 €/MWh
Q+5 n/a n/a n/a 1,40 €/MWh n/a n/a n/a n/a n/a n/a n/a
S+1 n/a n/a 0,80 €/MWh 0,80 €/MWh 1,00 €/MWh 1,00 €/MWh 1,00 €/MWh 0,80 p/th 0,80 p/th n/a 1,00 €/MWh
S+2 n/a n/a 1,00 €/MWh 1,00 €/MWh 1,00 €/MWh 1,00 €/MWh 1,20 €/MWh 1,00 p/th 1,00 p/th n/a 1,00 €/MWh
S+3 n/a n/a 1,20 €/MWh 1,20 €/MWh 1,00 €/MWh 1,00 €/MWh n/a 1,20 p/th 1,20 p/th n/a 1,50 €/MWh
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S+4 n/a n/a 1,20 €/MWh 1,20 €/MWh 1,00 €/MWh 1,00 €/MWh n/a 1,20 p/th n/a n/a n/a
C+1 n/a n/a 0,80 €/MWh 0,80 €/MWh 1,00 €/MWh 1,00 €/MWh 1,00 €/MWh 0,80 p/th 0,80 p/th n/a 1,20 €/MWh
C+2 n/a n/a 0,80 €/MWh 0,80 €/MWh 1,00 €/MWh 1,00 €/MWh n/a 0,80 p/th n/a n/a 1,20 €/MWh
C+3 n/a n/a n/a 1,00 €/MWh 1,00 €/MWh 1,00 €/MWh n/a 1,00 p/th n/a n/a n/a
C+4 n/a n/a n/a 1,00 €/MWh 1,00 €/MWh 1,00 €/MWh n/a n/a n/a n/a n/a
Table 2 MaxSpread values (€/MWh)
Example:
For a C+1 contract on PEG Nord, if the cumulated time during which there is both bid and ask Orders of more than 240 MWh/d is only two minutes (less than 20% of 15 minutes) and there was no trade on such contract nor on a Spread on that contract during the Closing Period, a Price Committee is called for that contract.
For a Q+2 contract on a PEG Nord, if the average spread is 2.40 €/MWh and there was no Trade on this contract nor on a Spread on that contract during the Closing Period, a Price Committee is called for that contract.
When a Price Committee is called, Powernext SA uses the data given by the Price Committee to determine the Closing Price of the concerned contracts.
Step 9: calculation of the Closing Price
Should the conditions triggering a Price Committee as defined in Step 8 not be met, the Closing Price is determined according to the following rules:
If 3 or more Trades of sufficient volume have occurred during the Calculation Period for that contract (including Trades coming from Spreads on that contract) then:
Closing Price = WeightedAverageTradePrice
If 1 or 2 Trade(s) of sufficient volume has occurred during the Calculation Period for that contract (including Trades coming from Spreads on that contract) and conditions A and B are satisfied then:
Closing Price = (1/4*AverageMid + 3/4 * WeightedAverageTradePrice)
If 1 or 2 Trade(s) of sufficient volume have occurred during the Calculation Period for that contract (including Trades coming from Spreads on that contract) and one of the two conditions A or B are not satisfied, then:
Closing Price = TradePrice or Closing Price = WeightedAverageTradePrice
If no Trade of sufficient volume has occurred during the Calculation Period for that contract (nor Trades coming from Spreads on that contract) and conditions A and B are satisfied, then:
Closing Price = AverageMid
Step 10: adjustment of Closing Prices for Overlapping Contracts
The Prices are adjusted by Powernext SA so as to comply with the relations between the Closing Prices of the contracts with overlapping periods (for example the 3 Month contracts of the same quarter and this Quarter contract).
To satisfy these consistency relations, Powernext SA identifies the Closing Prices with the highest degree of confidence. Maturity, size of average spread and number of Trades will be taken into account to determine the ordering of the contracts. The most “relevant” Closing Prices are modified the least.
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Example:
In December 2008, there is an overlap between :
the first three months of 2009 and the Q1 2009 Contract
Contract Number of Days Closing Price Short name
January 2009 31 SPJan
February 2009 28 SPFeb
March 2009 31 SPMar
Q1 2009 90 SPQ1
The Closing Prices will be adjusted by Powernext SA to verify the relation:
31*SPJan + 28*SPFeb + 31*SPMar = 90*SPQ1
Step 11: rounding of the Closing Price
PEGAS Non-MTF closing prices are rounded to the closest value in euro cent for all hubs: PEG Nord, TRS, TTF, ZEE, NCG, Gaspool, NBP, PSV, ETF and CEGH VTP.
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TRADING HOURS, BUSINESS DAYS AND CONTRACTS CALENDARS
POWERNEXT®COMMODITIES / PEGAS Non-MTF
Notice n° COMMODITIES-2016-100 01/12/2016
I. TRADING HOURS
1) Order Book opening hours Powernext SA publishes hereafter the Order Book opening hours in accordance with article 4.4.3. of the Market Rules of the Powernext® Commodities:
From 08:00 AM to 06:00 PM CET.
2) Trading Hours Powernext SA publishes hereafter the Trading Hours of PEGAS Non-MTF in accordance with articles 1.4.2.4 and 4.4.3 of the Market Rules of the Powernext® Commodities:
Central European Time (CET)
Trading on screen Off-order Book interests registration (Trade Registration)
PEGAS OTC web EUREX Clearing
Opening 08:00 am 08:00 am 08:00 am
Closing 06:00 pm 06:05 pm 06:15 pm
Time limit for Off-order Book interests
registration (Trade Registration)
n/a 06:05 pm n/a
Time limit for the validation of Off-order Book interests (Trade
Registration)
n/a 06:15 pm n/a
Closing hours for the trading sessions of the 24th and 31st of December close earlier (“early closing”), at 1.00 pm CET.
II. TRADING CALENDAR Powernext SA publishes hereafter the Trading Calendar of PEGAS Non-MTF for the remaining days of the year 2016 and the year 2017 in accordance with article 4.4.3. of the Market Rules of the Powernext® Commodities. Trading Sessions occur only on business days, i.e. all days except Saturdays, Sundays and the following holidays:
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Market closure days on Powernext Gas Non-MTF Futures until 2017
Boxing Day (First weekday after Christmas) Mon, 26 Dec 16
Christmas Day Tue, 27 Dec 16
Substitute for New Year’s day Mon, 2 Jan 17
Good Friday Fri, 14 April 2017
Easter Monday Mon, 17 April 2017
Early May Bank Holiday (First Monday of May) Mon, 1 May 2017
Spring Bank Holiday (Usually Last Monday of May) Mon, 29 May 2017
Summer Bank Holiday (Last Monday of August) Mon, 28 Aug 2017
Christmas Day Tue, 25 Dec 2017
Boxing Day (First weekday after Christmas) Tue, 26 Dec 2017
III. CONTRACTS CALENDARS Pursuant to article 1.3.2.2 of the Market Rules of the Powernext® Commodities, Powernext SA publishes hereafter the listed contract periods for the end of 2016 and for 2017.
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1. Contracts on TTF
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec-16 TTF Non MTF December 2016 31 29/07/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan-17 TTF Non MTF January 2017 31 31/08/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 TTF Non MTF February 2017 28 30/09/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 TTF Non MTF March 2017 31 31/10/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 TTF Non MTF April 2017 30 30/11/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 TTF Non MTF May 2017 31 30/12/2016 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 TTF Non MTF June 2017 30 31/01/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 TTF Non MTF July 2017 31 28/02/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 TTF Non MTF August 2017 31 31/03/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 TTF Non MTF September 2017 30 28/04/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 TTF Non MTF October 2017 31 31/05/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 TTF Non MTF November 2017 30 30/06/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 TTF Non MTF December 2017 31 31/07/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 TTF Non MTF January 2018 31 31/08/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 TTF Non MTF February 2018 28 29/09/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 TTF Non MTF March 2018 31 31/10/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 TTF Non MTF April 2018 30 30/11/2017 28/03/2018 01/04/2018 30/04/2018
MONTH May-18 TTF Non MTF May 2018 31 29/12/2017 27/04/2018 01/05/2018 31/05/2018
QUARTER Q1 2017 TTF Non MTF Q1 2017 90 29/09/2015 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 TTF Non MTF Q2 2017 91 30/12/2015 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 TTF Non MTF Q3 2017 92 30/03/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 TTF Non MTF Q4 2017 92 29/06/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 TTF Non MTF Q1 2018 90 29/09/2016 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 TTF Non MTF Q2 2018 91 29/12/2016 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 TTF Non MTF Q3 2018 92 30/03/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 TTF Non MTF Q4 2018 92 29/06/2017 26/09/2018 01/10/2018 31/12/2018
QUARTER Q1 2019 TTF Non MTF Q1 2019 90 28/09/2017 27/12/2018 01/01/2019 31/03/2019
QUARTER Q2 2019 TTF Non MTF Q2 2019 91 28/12/2017 27/03/2019 01/04/2019 30/06/2019
SEASON Summer 2017 TTF Non MTF Summer 2017 183 16/07/2015 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 TTF Non MTF Winter 2017 182 29/09/2015 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 TTF Non MTF Summer 2018 183 30/03/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 TTF Non MTF Winter 2018 182 29/09/2016 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 TTF Non MTF Summer 2019 183 30/03/2017 27/03/2019 01/04/2019 30/09/2019
SEASON Winter 2019 TTF Non MTF Winter 2019 183 28/09/2017 26/09/2019 01/10/2019 31/03/2020
CALENDAR Calendar 2017 TTF Non MTF Calendar 2017 365 30/12/2013 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 TTF Non MTF Calendar 2018 365 30/12/2014 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 TTF Non MTF Calendar 2019 365 30/12/2015 27/12/2018 01/01/2019 31/12/2019
CALENDAR Calendar 2020 TTF Non MTF Calendar 2020 366 17/11/2016 27/12/2019 01/01/2020 31/12/2020
CALENDAR Calendar 2021 TTF Non MTF Calendar 2021 365 29/12/2016 29/12/2020 01/01/2021 31/12/2021
CALENDAR Calendar 2022 TTF Non MTF Calendar 2022 365 28/12/2017 29/12/2021 01/01/2022 31/01/2022
Maturités /
Maturities
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Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec-16 TTF 1MW Non MTF December 2016 31 29/07/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan-17 TTF 1MW Non MTF January 2017 31 31/08/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 TTF 1MW Non MTF February 2017 28 30/09/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 TTF 1MW Non MTF March 2017 31 31/10/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 TTF 1MW Non MTF April 2017 30 30/11/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 TTF 1MW Non MTF May 2017 31 30/12/2016 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 TTF 1MW Non MTF June 2017 30 31/01/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 TTF 1MW Non MTF July 2017 31 28/02/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 TTF 1MW Non MTF August 2017 31 31/03/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 TTF 1MW Non MTF September 2017 30 28/04/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 TTF 1MW Non MTF October 2017 31 31/05/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 TTF 1MW Non MTF November 2017 30 30/06/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 TTF 1MW Non MTF December 2017 31 31/07/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 TTF 1MW Non MTF January 2018 31 31/08/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 TTF 1MW Non MTF February 2018 28 29/09/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 TTF 1MW Non MTF March 2018 31 31/10/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 TTF 1MW Non MTF April 2018 30 30/11/2017 28/03/2018 01/04/2018 30/04/2018
MONTH May-18 TTF 1MW Non MTF May 2018 31 29/12/2017 27/04/2018 01/05/2018 31/05/2018
QUARTER Q1 2017 TTF 1MW Non MTF Q1 2017 90 29/09/2015 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 TTF 1MW Non MTF Q2 2017 91 30/12/2015 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 TTF 1MW Non MTF Q3 2017 92 30/03/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 TTF 1MW Non MTF Q4 2017 92 29/06/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 TTF 1MW Non MTF Q1 2018 90 29/09/2016 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 TTF 1MW Non MTF Q2 2018 91 29/12/2016 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 TTF 1MW Non MTF Q3 2018 92 30/03/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 TTF 1MW Non MTF Q4 2018 92 29/06/2017 26/09/2018 01/10/2018 31/12/2018
QUARTER Q1 2019 TTF 1MW Non MTF Q1 2019 90 28/09/2017 27/12/2018 01/01/2019 31/03/2019
QUARTER Q2 2019 TTF 1MW Non MTF Q2 2019 91 28/12/2017 27/03/2019 01/04/2019 30/06/2019
SEASON Summer 2017 TTF 1MW Non MTF Summer 2017 183 16/07/2015 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 TTF 1MW Non MTF Winter 2017 182 29/09/2015 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 TTF 1MW Non MTF Summer 2018 183 30/03/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 TTF 1MW Non MTF Winter 2018 182 29/09/2016 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 TTF 1MW Non MTF Summer 2019 183 30/03/2017 27/03/2019 01/04/2019 30/09/2019
SEASON Winter 2019 TTF 1MW Non MTF Winter 2019 183 28/09/2017 26/09/2019 01/10/2019 31/03/2020
CALENDAR Calendar 2017 TTF 1MW Non MTF Calendar 2017 365 30/12/2013 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 TTF 1MW Non MTF Calendar 2018 365 30/12/2014 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 TTF 1MW Non MTF Calendar 2019 365 30/12/2015 27/12/2018 01/01/2019 31/12/2019
CALENDAR Calendar 2020 TTF 1MW Non MTF Calendar 2020 366 17/11/2016 27/12/2019 01/01/2020 31/12/2020
CALENDAR Calendar 2021 TTF 1MW Non MTF Calendar 2021 365 29/12/2016 29/12/2020 01/01/2021 31/12/2021
CALENDAR Calendar 2022 TTF 1MW Non MTF Calendar 2022 365 28/12/2017 29/12/2021 01/01/2022 31/01/2022
Maturités /
Maturities
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2. Contracts on PEG Nord
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec-16 PEG Nord Non MTF December 2016 31 29/07/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan-17 PEG Nord Non MTF January 2017 31 31/08/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 PEG Nord Non MTF February 2017 28 30/09/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 PEG Nord Non MTF March 2017 31 31/10/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 PEG Nord Non MTF April 2017 30 30/11/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 PEG Nord Non MTF May 2017 31 30/12/2016 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 PEG Nord Non MTF June 2017 30 31/01/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 PEG Nord Non MTF July 2017 31 28/02/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 PEG Nord Non MTF August 2017 31 31/03/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 PEG Nord Non MTF September 2017 30 28/04/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 PEG Nord Non MTF October 2017 31 31/05/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 PEG Nord Non MTF November 2017 30 30/06/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 PEG Nord Non MTF December 2017 31 31/07/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 PEG Nord Non MTF January 2018 31 31/08/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 PEG Nord Non MTF February 2018 28 29/09/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 PEG Nord Non MTF March 2018 31 31/10/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 PEG Nord Non MTF April 2018 30 30/11/2017 28/03/2018 01/04/2018 30/04/2018
MONTH May-18 PEG Nord Non MTF May 2018 31 29/12/2017 27/04/2018 01/05/2018 31/05/2018
QUARTER Q1 2017 PEG Nord Non MTF Q1 2017 90 30/12/2015 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 PEG Nord Non MTF Q2 2017 91 30/03/2016 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 PEG Nord Non MTF Q3 2017 92 29/06/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 PEG Nord Non MTF Q4 2017 92 29/09/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 PEG Nord Non MTF Q1 2018 90 29/12/2016 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 PEG Nord Non MTF Q2 2018 91 30/03/2017 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 PEG Nord Non MTF Q3 2018 92 29/06/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 PEG Nord Non MTF Q4 2018 92 28/09/2017 26/09/2018 01/10/2018 31/12/2018
QUARTER Q1 2019 PEG Nord Non MTF Q1 2019 90 28/12/2017 27/12/2018 01/01/2019 31/03/2019
SEASON Summer 2017 PEG Nord Non MTF Summer 2017 183 16/07/2015 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 PEG Nord Non MTF Winter 2017 182 29/09/2015 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 PEG Nord Non MTF Summer 2018 183 30/03/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 PEG Nord Non MTF Winter 2018 182 29/09/2016 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 PEG Nord Non MTF Summer 2019 183 30/03/2017 27/03/2019 01/04/2019 30/09/2019
SEASON Winter 2019 PEG Nord Non MTF Winter 2019 183 28/09/2017 26/09/2019 01/10/2019 31/03/2020
CALENDAR Calendar 2017 PEG Nord Non MTF Calendar 2017 365 16/07/2015 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 PEG Nord Non MTF Calendar 2018 365 30/12/2015 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 PEG Nord Non MTF Calendar 2019 365 29/12/2016 27/12/2018 01/01/2019 31/12/2019
CALENDAR Calendar 2020 PEG Nord Non MTF Calendar 2020 366 28/12/2017 27/12/2019 01/01/2020 31/12/2020
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Maturities
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Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec-16 PEG Nord 1MWh d Non MTF December 2016 31 29/07/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan-17 PEG Nord 1MWh d Non MTF January 2017 31 31/08/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 PEG Nord 1MWh d Non MTF February 2016 28 30/09/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-16 PEG Nord 1MWh d Non MTF March 2016 31 31/10/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-16 PEG Nord 1MWh d Non MTF April 2016 30 30/11/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-16 PEG Nord 1MWh d Non MTF May 2016 31 30/12/2016 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-16 PEG Nord 1MWh d Non MTF June 2016 30 31/01/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-16 PEG Nord 1MWh d Non MTF July 2016 31 28/02/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-16 PEG Nord 1MWh d Non MTF August 2016 31 31/03/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-16 PEG Nord 1MWh d Non MTF September 2016 30 28/04/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-16 PEG Nord 1MWh d Non MTF October 2016 31 31/05/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-16 PEG Nord 1MWh d Non MTF November 2016 30 30/06/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-16 PEG Nord 1MWh d Non MTF December 2016 31 31/07/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-17 PEG Nord 1MWh d Non MTF January 2017 31 31/08/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-17 PEG Nord 1MWh d Non MTF February 2017 28 29/09/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-17 PEG Nord 1MWh d Non MTF March 2017 31 31/10/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-17 PEG Nord 1MWh d Non MTF April 2017 30 30/11/2017 28/03/2018 01/04/2018 30/04/2018
MONTH May-17 PEG Nord 1MWh d Non MTF May 2017 31 29/12/2017 27/04/2018 01/05/2018 31/05/2018
QUARTER Q1 2017 PEG Nord 1MWh d Non MTF Q1 2017 90 30/12/2015 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 PEG Nord 1MWh d Non MTF Q2 2017 91 30/03/2016 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 PEG Nord 1MWh d Non MTF Q3 2017 92 29/06/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 PEG Nord 1MWh d Non MTF Q4 2017 92 29/09/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 PEG Nord 1MWh d Non MTF Q1 2018 90 29/12/2016 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 PEG Nord 1MWh d Non MTF Q2 2018 91 30/03/2017 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 PEG Nord 1MWh d Non MTF Q3 2018 92 29/06/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 PEG Nord 1MWh d Non MTF Q4 2018 92 28/09/2017 26/09/2018 01/10/2018 31/12/2018
QUARTER Q1 2019 PEG Nord 1MWh d Non MTF Q1 2019 90 28/12/2017 27/12/2018 01/01/2019 31/03/2019
SEASON Summer 2017 PEG Nord 1MWh d Non MTF Summer 2017 183 16/07/2015 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 PEG Nord 1MWh d Non MTF Winter 2017 182 29/09/2015 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 PEG Nord 1MWh d Non MTF Summer 2018 183 30/03/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 PEG Nord 1MWh d Non MTF Winter 2018 182 29/09/2016 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 PEG Nord 1MWh d Non MTF Summer 2019 183 30/03/2017 27/03/2019 01/04/2019 30/09/2019
SEASON Winter 2019 PEG Nord 1MWh d Non MTF Winter 2019 183 28/09/2017 26/09/2019 01/10/2019 31/03/2020
CALENDAR Calendar 2017 PEG Nord 1MWh d Non MTF Calendar 2017 365 16/07/2015 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 PEG Nord 1MWh d Non MTF Calendar 2018 365 30/12/2015 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 PEG Nord 1MWh d Non MTF Calendar 2019 365 29/12/2016 27/12/2018 01/01/2019 31/12/2019
CALENDAR Calendar 2020 PEG Nord 1MWh d Non MTF Calendar 2020 366 28/12/2017 27/12/2019 01/01/2020 31/12/2020
Maturités /
Maturities
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec-16 TRS Non MTF December 2016 31 31/10/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan-17 TRS Non MTF January 2017 31 30/11/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 TRS Non MTF February 2017 28 30/12/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 TRS Non MTF March 2017 31 31/01/2017 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 TRS Non MTF April 2017 30 28/02/2017 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 TRS Non MTF May 2017 31 31/03/2017 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 TRS Non MTF June 2017 30 28/04/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 TRS Non MTF July 2017 31 31/05/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 TRS Non MTF August 2017 31 30/06/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 TRS Non MTF September 2017 30 31/07/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 TRS Non MTF October 2017 31 31/08/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 TRS Non MTF November 2017 30 29/09/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 TRS Non MTF December 2017 31 31/10/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 TRS Non MTF January 2018 31 30/11/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 TRS Non MTF February 2018 28 29/12/2017 30/01/2018 01/02/2018 28/02/2018
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
79/89
3. Contracts on NCG and GASPOOL
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec-16 TRS 1MWh/d Non MTF December 2016 31 31/10/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan-17 TRS 1MWh/d Non MTF January 2017 31 30/11/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 TRS 1MWh/d Non MTF February 2017 28 30/12/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 TRS 1MWh/d Non MTF March 2017 31 31/01/2017 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 TRS 1MWh/d Non MTF April 2017 30 28/02/2017 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 TRS 1MWh/d Non MTF May 2017 31 31/03/2017 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 TRS 1MWh/d Non MTF June 2017 30 28/04/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 TRS 1MWh/d Non MTF July 2017 31 31/05/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 TRS 1MWh/d Non MTF August 2017 31 30/06/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 TRS 1MWh/d Non MTF September 2017 30 31/07/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 TRS 1MWh/d Non MTF October 2017 31 31/08/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 TRS 1MWh/d Non MTF November 2017 30 29/09/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 TRS 1MWh/d Non MTF December 2017 31 31/10/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 TRS 1MWh/d Non MTF January 2018 31 30/11/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 TRS 1MWh/d Non MTF February 2018 28 29/12/2017 30/01/2018 01/02/2018 28/02/2018
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
80/89
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec. 2016 NCG Non MTF Dec. 2016 31 29/07/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan. 2017 NCG Non MTF Jan. 2017 31 31/08/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 NCG Non MTF February 2017 28 30/09/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 NCG Non MTF March 2017 31 31/10/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 NCG Non MTF April 2017 30 30/11/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 NCG Non MTF May 2017 31 30/12/2016 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 NCG Non MTF June 2017 30 31/01/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 NCG Non MTF July 2017 31 28/02/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 NCG Non MTF August 2017 31 31/03/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 NCG Non MTF Sept. 2017 30 28/04/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 NCG Non MTF Oct. 2017 31 31/05/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 NCG Non MTF Nov. 2017 30 30/06/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 NCG Non MTF Dec. 2017 31 31/07/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 NCG Non MTF Jan. 2018 31 31/08/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 NCG Non MTF Feb. 2018 28 29/09/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 NCG Non MTF March 2018 31 31/10/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 NCG Non MTF April 2018 30 30/11/2017 28/03/2018 01/04/2018 30/04/2018
MONTH May-18 NCG Non MTF May 2018 31 29/12/2017 27/04/2018 01/05/2018 31/05/2018
QUARTER Q1 2017 NCG Non MTF Q1 2017 90 30/12/2015 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 NCG Non MTF Q2 2017 91 30/03/2016 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 NCG Non MTF Q3 2017 92 29/06/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 NCG Non MTF Q4 2017 92 29/09/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 NCG Non MTF Q1 2018 90 29/12/2016 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 NCG Non MTF Q2 2018 91 30/03/2017 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 NCG Non MTF Q3 2018 92 29/06/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 NCG Non MTF Q4 2018 92 28/09/2017 26/09/2018 01/10/2018 31/12/2018
QUARTER Q1 2019 NCG Non MTF Q1 2019 90 28/12/2017 27/12/2018 01/01/2019 31/03/2019
SEASON Summer 2017 NCG Non MTF Summer 2017 183 16/07/2015 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 NCG Non MTF Winter 2017 182 29/09/2015 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 NCG Non MTF Summer 2018 183 30/03/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 NCG Non MTF Winter 2018 182 29/09/2016 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 NCG Non MTF Summer 2019 183 30/03/2017 27/03/2019 01/04/2019 30/09/2019
SEASON Winter 2019 NCG Non MTF Winter 2019 183 28/09/2017 26/09/2019 01/10/2019 31/03/2020
CALENDAR Calendar 2017 NCG Non MTF Calendar 2017 365 30/12/2013 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 NCG Non MTF Calendar 2018 365 30/12/2014 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 NCG Non MTF Calendar 2019 365 30/12/2015 27/12/2018 01/01/2019 31/12/2019
CALENDAR Calendar 2020 NCG Non MTF Calendar 2020 366 17/11/2016 27/12/2019 01/01/2020 31/12/2020
CALENDAR Calendar 2021 NCG Non MTF Calendar 2021 365 29/12/2016 29/12/2020 01/01/2021 31/12/2021
CALENDAR Calendar 2022 NCG Non MTF Calendar 2022 365 28/12/2017 29/12/2021 01/01/2022 31/01/2022
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
81/89
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec. 2016 NCG 1MW Non MTF Dec. 2016 31 29/07/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan. 2017 NCG 1MW Non MTF Jan. 2017 31 31/08/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 NCG 1MW Non MTF February 2017 28 30/09/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 NCG 1MW Non MTF March 2017 31 31/10/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 NCG 1MW Non MTF April 2017 30 30/11/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 NCG 1MW Non MTF May 2017 31 30/12/2016 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 NCG 1MW Non MTF June 2017 30 31/01/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 NCG 1MW Non MTF July 2017 31 28/02/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 NCG 1MW Non MTF August 2017 31 31/03/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 NCG 1MW Non MTF Sept. 2017 30 28/04/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 NCG 1MW Non MTF Oct. 2017 31 31/05/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 NCG 1MW Non MTF Nov. 2017 30 30/06/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 NCG 1MW Non MTF Dec. 2017 31 31/07/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 NCG 1MW Non MTF Jan. 2018 31 31/08/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 NCG 1MW Non MTF Feb. 2018 28 29/09/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 NCG 1MW Non MTF March 2018 31 31/10/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 NCG 1MW Non MTF April 2018 30 30/11/2017 28/03/2018 01/04/2018 30/04/2018
MONTH May-18 NCG 1MW Non MTF May 2018 31 29/12/2017 27/04/2018 01/05/2018 31/05/2018
QUARTER Q1 2017 NCG 1MW Non MTF Q1 2017 90 30/12/2015 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 NCG 1MW Non MTF Q2 2017 91 30/03/2016 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 NCG 1MW Non MTF Q3 2017 92 29/06/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 NCG 1MW Non MTF Q4 2017 92 29/09/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 NCG 1MW Non MTF Q1 2018 90 29/12/2016 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 NCG 1MW Non MTF Q2 2018 91 30/03/2017 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 NCG 1MW Non MTF Q3 2018 92 29/06/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 NCG 1MW Non MTF Q4 2018 92 28/09/2017 26/09/2018 01/10/2018 31/12/2018
QUARTER Q1 2019 NCG 1MW Non MTF Q1 2019 90 28/12/2017 27/12/2018 01/01/2019 31/03/2019
SEASON Summer 2017 NCG 1MW Non MTF Summer 2017 183 16/07/2015 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 NCG 1MW Non MTF Winter 2017 182 29/09/2015 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 NCG 1MW Non MTF Summer 2018 183 30/03/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 NCG 1MW Non MTF Winter 2018 182 29/09/2016 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 NCG 1MW Non MTF Summer 2019 183 30/03/2017 27/03/2019 01/04/2019 30/09/2019
SEASON Winter 2019 NCG 1MW Non MTF Winter 2019 183 28/09/2017 26/09/2019 01/10/2019 31/03/2020
CALENDAR Calendar 2017 NCG 1MW Non MTF Calendar 2017 365 30/12/2013 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 NCG 1MW Non MTF Calendar 2018 365 30/12/2014 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 NCG 1MW Non MTF Calendar 2019 365 30/12/2015 27/12/2018 01/01/2019 31/12/2019
CALENDAR Calendar 2020 NCG 1MW Non MTF Calendar 2020 366 17/11/2016 27/12/2019 01/01/2020 31/12/2020
CALENDAR Calendar 2021 NCG 1MW Non MTF Calendar 2021 365 29/12/2016 29/12/2020 01/01/2021 31/12/2021
CALENDAR Calendar 2022 NCG 1MW Non MTF Calendar 2022 365 28/12/2017 29/12/2021 01/01/2022 31/01/2022
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
82/89
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec. 2016 GPL Non MTF Dec. 2016 31 29/07/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan. 2017 GPL Non MTF Jan. 2017 31 31/08/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 GPL Non MTF February 2017 28 30/09/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 GPL Non MTF March 2017 31 31/10/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 GPL Non MTF April 2017 30 30/11/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 GPL Non MTF May 2017 31 30/12/2016 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 GPL Non MTF June 2017 30 31/01/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 GPL Non MTF July 2017 31 28/02/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 GPL Non MTF August 2017 31 31/03/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 GPL Non MTF Sept. 2017 30 28/04/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 GPL Non MTF Oct. 2017 31 31/05/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 GPL Non MTF Nov. 2017 30 30/06/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 GPL Non MTF Dec. 2017 31 31/07/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 GPL Non MTF Jan. 2018 31 31/08/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 GPL Non MTF Feb. 2018 28 29/09/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 GPL Non MTF March 2018 31 31/10/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 GPL Non MTF April 2018 30 30/11/2017 28/03/2018 01/04/2018 30/04/2018
MONTH May-18 GPL Non MTF May 2018 31 29/12/2017 27/04/2018 01/05/2018 31/05/2018
QUARTER Q1 2017 GPL Non MTF Q1 2017 90 30/12/2015 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 GPL Non MTF Q2 2017 91 30/03/2016 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 GPL Non MTF Q3 2017 92 29/06/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 GPL Non MTF Q4 2017 92 29/09/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 GPL Non MTF Q1 2018 90 29/12/2016 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 GPL Non MTF Q2 2018 91 30/03/2017 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 GPL Non MTF Q3 2018 92 29/06/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 GPL Non MTF Q4 2018 92 28/09/2017 26/09/2018 01/10/2018 31/12/2018
QUARTER Q1 2019 GPL Non MTF Q1 2019 90 28/12/2017 27/12/2018 01/01/2019 31/03/2019
SEASON Summer 2017 GPL Non MTF Summer 2017 183 16/07/2015 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 GPL Non MTF Winter 2017 182 29/09/2015 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 GPL Non MTF Summer 2018 183 30/03/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 GPL Non MTF Winter 2018 182 29/09/2016 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 GPL Non MTF Summer 2019 183 30/03/2017 27/03/2019 01/04/2019 30/09/2019
SEASON Winter 2019 GPL Non MTF Winter 2019 183 28/09/2017 26/09/2019 01/10/2019 31/03/2020
CALENDAR Calendar 2017 GPL Non MTF Calendar 2017 365 30/12/2013 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 GPL Non MTF Calendar 2018 365 30/12/2014 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 GPL Non MTF Calendar 2019 365 30/12/2015 27/12/2018 01/01/2019 31/12/2019
CALENDAR Calendar 2020 GPL Non MTF Calendar 2020 366 17/11/2016 27/12/2019 01/01/2020 31/12/2020
CALENDAR Calendar 2021 GPL Non MTF Calendar 2021 365 29/12/2016 29/12/2020 01/01/2021 31/12/2021
CALENDAR Calendar 2022 GPL Non MTF Calendar 2022 365 28/12/2017 29/12/2021 01/01/2022 31/01/2022
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
83/89
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec. 2016 GPL 1MW Non MTF Dec. 2016 31 29/07/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan. 2017 GPL 1MW Non MTF Jan. 2017 31 31/08/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 GPL 1MW Non MTF February 2017 28 30/09/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 GPL 1MW Non MTF March 2017 31 31/10/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 GPL 1MW Non MTF April 2017 30 30/11/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 GPL 1MW Non MTF May 2017 31 30/12/2016 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 GPL 1MW Non MTF June 2017 30 31/01/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 GPL 1MW Non MTF July 2017 31 28/02/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 GPL 1MW Non MTF August 2017 31 31/03/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 GPL 1MW Non MTF Sept. 2017 30 28/04/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 GPL 1MW Non MTF Oct. 2017 31 31/05/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 GPL 1MW Non MTF Nov. 2017 30 30/06/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 GPL 1MW Non MTF Dec. 2017 31 31/07/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 GPL 1MW Non MTF Jan. 2018 31 31/08/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 GPL 1MW Non MTF Feb. 2018 28 29/09/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 GPL 1MW Non MTF March 2018 31 31/10/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 GPL 1MW Non MTF April 2018 30 30/11/2017 28/03/2018 01/04/2018 30/04/2018
MONTH May-18 GPL 1MW Non MTF May 2018 31 29/12/2017 27/04/2018 01/05/2018 31/05/2018
QUARTER Q1 2017 GPL 1MW Non MTF Q1 2017 90 30/12/2015 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 GPL 1MW Non MTF Q2 2017 91 30/03/2016 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 GPL 1MW Non MTF Q3 2017 92 29/06/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 GPL 1MW Non MTF Q4 2017 92 29/09/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 GPL 1MW Non MTF Q1 2018 90 29/12/2016 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 GPL 1MW Non MTF Q2 2018 91 30/03/2017 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 GPL 1MW Non MTF Q3 2018 92 29/06/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 GPL 1MW Non MTF Q4 2018 92 28/09/2017 26/09/2018 01/10/2018 31/12/2018
QUARTER Q1 2019 GPL 1MW Non MTF Q1 2019 90 28/12/2017 27/12/2018 01/01/2019 31/03/2019
SEASON Summer 2017 GPL 1MW Non MTF Summer 2017 183 16/07/2015 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 GPL 1MW Non MTF Winter 2017 182 29/09/2015 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 GPL 1MW Non MTF Summer 2018 183 30/03/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 GPL 1MW Non MTF Winter 2018 182 29/09/2016 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 GPL 1MW Non MTF Summer 2019 183 30/03/2017 27/03/2019 01/04/2019 30/09/2019
SEASON Winter 2019 GPL 1MW Non MTF Winter 2019 183 28/09/2017 26/09/2019 01/10/2019 31/03/2020
CALENDAR Calendar 2017 GPL 1MW Non MTF Calendar 2017 365 30/12/2013 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 GPL 1MW Non MTF Calendar 2018 365 30/12/2014 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 GPL 1MW Non MTF Calendar 2019 365 30/12/2015 27/12/2018 01/01/2019 31/12/2019
CALENDAR Calendar 2020 GPL 1MW Non MTF Calendar 2020 366 17/11/2016 27/12/2019 01/01/2020 31/12/2020
CALENDAR Calendar 2021 GPL 1MW Non MTF Calendar 2021 365 29/12/2016 29/12/2020 01/01/2021 31/12/2021
CALENDAR Calendar 2022 GPL 1MW Non MTF Calendar 2022 365 28/12/2017 29/12/2021 01/01/2022 31/01/2022
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
84/89
4. Contracts on ZTP
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec-16 ZTP Non MTF December 2016 31 31/10/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan-17 ZTP Non MTF January 2017 31 30/11/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 ZTP Non MTF February 2017 28 30/12/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 ZTP Non MTF March 2017 31 31/01/2017 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 ZTP Non MTF April 2017 30 28/02/2017 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 ZTP Non MTF May 2017 31 31/03/2017 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 ZTP Non MTF June 2017 30 28/04/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 ZTP Non MTF July 2017 31 31/05/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 ZTP Non MTF August 2017 31 30/06/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 ZTP Non MTF September 2017 30 31/07/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 ZTP Non MTF October 2017 31 31/08/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 ZTP Non MTF November 2017 30 29/09/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 ZTP Non MTF December 2017 31 31/10/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 ZTP Non MTF January 2018 31 30/11/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 ZTP Non MTF February 2018 28 29/12/2017 30/01/2018 01/02/2018 28/02/2018
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
85/89
5. Contracts on PSV
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec. 2016 PSV Non MTF December 2016 31 31/08/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan. 2017 PSV Non MTF January 2017 31 30/09/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 PSV Non MTF February 2017 28 31/10/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 PSV Non MTF March 2017 31 30/11/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 PSV Non MTF April 2017 30 30/12/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 PSV Non MTF May 2017 31 31/01/2017 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 PSV Non MTF June 2017 30 28/02/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 PSV Non MTF July 2017 31 31/03/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 PSV Non MTF August 2017 31 28/04/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 PSV Non MTF September 2017 30 31/05/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 PSV Non MTF October 2017 31 30/06/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 PSV Non MTF November 2017 30 31/07/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 PSV Non MTF December 2017 31 31/08/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 PSV Non MTF January 2018 31 29/09/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 PSV Non MTF February 2018 28 31/10/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 PSV Non MTF March 2018 31 30/11/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 PSV Non MTF April 2018 30 29/12/2017 28/03/2018 01/04/2018 30/04/2018
QUARTER Q1 2017 PSV Non MTF Q1 2017 90 30/03/2016 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 PSV Non MTF Q2 2017 91 29/06/2016 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 PSV Non MTF Q3 2017 92 29/09/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 PSV Non MTF Q4 2017 92 29/12/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 PSV Non MTF Q1 2018 90 30/03/2017 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 PSV Non MTF Q2 2018 91 29/06/2017 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 PSV Non MTF Q3 2018 92 28/09/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 PSV Non MTF Q4 2018 92 28/12/2017 26/09/2018 01/10/2018 31/12/2018
SEASON Summer 2017 PSV Non MTF Summer 2017 183 30/03/2016 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 PSV Non MTF Winter 2017 182 29/09/2016 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 PSV Non MTF Summer 2018 183 30/03/2017 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 PSV Non MTF Winter 2018 182 28/09/2017 26/09/2018 01/10/2018 31/03/2019
CALENDAR Calendar 2017 PSV Non MTF Calendar 2017 365 30/12/2015 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 PSV Non MTF Calendar 2018 365 29/12/2016 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 PSV Non MTF Calendar 2019 365 28/12/2017 27/12/2018 01/01/2019 31/12/2019
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
86/89
Contracts on NBP
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec. 2016 NBP Non MTF Dec. 2016 31 29/07/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan. 2017 NBP Non MTF Jan. 2017 31 31/08/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 NBP Non MTF February 2017 28 30/09/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 NBP Non MTF March 2017 31 31/10/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 NBP Non MTF April 2017 30 30/11/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 NBP Non MTF May 2017 31 30/12/2016 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 NBP Non MTF June 2017 30 31/01/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 NBP Non MTF July 2017 31 28/02/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 NBP Non MTF August 2017 31 31/03/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 NBP Non MTF Sept. 2017 30 28/04/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 NBP Non MTF Oct. 2017 31 31/05/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 NBP Non MTF Nov. 2017 30 30/06/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 NBP Non MTF Dec. 2017 31 31/07/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 NBP Non MTF Jan. 2018 31 31/08/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 NBP Non MTF Feb. 2018 28 29/09/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 NBP Non MTF March 2018 31 31/10/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 NBP Non MTF April 2018 30 30/11/2017 28/03/2018 01/04/2018 30/04/2018
MONTH May-18 NBP Non MTF May 2018 31 29/12/2017 27/04/2018 01/05/2018 31/05/2018
QUARTER Q1 2017 NBP Non MTF Q1 2017 90 30/12/2015 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 NBP Non MTF Q2 2017 91 30/03/2016 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 NBP Non MTF Q3 2017 92 29/06/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 NBP Non MTF Q4 2017 92 29/09/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 NBP Non MTF Q1 2018 90 29/12/2016 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 NBP Non MTF Q2 2018 91 30/03/2017 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 NBP Non MTF Q3 2018 92 29/06/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 NBP Non MTF Q4 2018 92 28/09/2017 26/09/2018 01/10/2018 31/12/2018
QUARTER Q1 2019 NBP Non MTF Q1 2019 90 28/12/2017 27/12/2018 01/01/2019 31/03/2019
SEASON Summer 2017 NBP Non MTF Summer 2017 183 16/07/2015 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 NBP Non MTF Winter 2017 182 29/09/2015 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 NBP Non MTF Summer 2018 183 30/03/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 NBP Non MTF Winter 2018 182 29/09/2016 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 NBP Non MTF Summer 2019 183 30/03/2017 27/03/2019 01/04/2019 30/09/2019
SEASON Winter 2019 NBP Non MTF Winter 2019 183 28/09/2017 26/09/2019 01/10/2019 31/03/2020
CALENDAR Calendar 2017 NBP Non MTF Calendar 2017 365 26/03/2015 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 NBP Non MTF Calendar 2018 365 26/03/2015 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 NBP Non MTF Calendar 2019 365 30/12/2015 27/12/2018 01/01/2019 31/12/2019
CALENDAR Calendar 2020 NBP Non MTF Calendar 2020 366 29/12/2016 27/12/2019 01/01/2020 31/12/2020
CALENDAR Calendar 2021 NBP Non MTF Calendar 2021 365 28/12/2017 29/12/2020 01/01/2021 31/12/2021
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
87/89
6. Contracts on ZEE
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec. 2016 ZEE Non MTF December 2016 31 31/08/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan. 2017 ZEE Non MTF January 2017 31 30/09/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 ZEE Non MTF February 2017 28 31/10/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 ZEE Non MTF March 2017 31 30/11/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 ZEE Non MTF April 2017 30 30/12/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 ZEE Non MTF May 2017 31 31/01/2017 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 ZEE Non MTF June 2017 30 28/02/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 ZEE Non MTF July 2017 31 31/03/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 ZEE Non MTF August 2017 31 28/04/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 ZEE Non MTF September 2017 30 31/05/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 ZEE Non MTF October 2017 31 30/06/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 ZEE Non MTF November 2017 30 31/07/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 ZEE Non MTF December 2017 31 31/08/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 ZEE Non MTF January 2018 31 29/09/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 ZEE Non MTF February 2018 28 31/10/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 ZEE Non MTF March 2018 31 30/11/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 ZEE Non MTF April 2018 30 29/12/2017 28/03/2018 01/04/2018 30/04/2018
QUARTER Q1 2017 ZEE Non MTF Q1 2017 90 30/03/2016 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 ZEE Non MTF Q2 2017 91 29/06/2016 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 ZEE Non MTF Q3 2017 92 29/09/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 ZEE Non MTF Q4 2017 92 29/12/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 ZEE Non MTF Q1 2018 90 30/03/2017 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 ZEE Non MTF Q2 2018 91 29/06/2017 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 ZEE Non MTF Q3 2018 92 28/09/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 ZEE Non MTF Q4 2018 92 28/12/2017 26/09/2018 01/10/2018 31/12/2018
SEASON Summer 2017 ZEE Non MTF Summer 2017 183 29/09/2015 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 ZEE Non MTF Winter 2017 182 30/03/2016 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 ZEE Non MTF Summer 2018 183 29/09/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 ZEE Non MTF Winter 2018 182 30/03/2017 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 ZEE Non MTF Summer 2019 183 28/09/2017 27/03/2019 01/04/2019 30/09/2019
CALENDAR Calendar 2017 ZEE Non MTF Calendar 2017 365 30/12/2015 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 ZEE Non MTF Calendar 2018 365 29/12/2016 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 ZEE Non MTF Calendar 2019 365 28/12/2017 27/12/2018 01/01/2019 31/12/2019
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
88/89
7. Contracts on ETF
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec-16 ETF Non MTF December 2016 31 17/11/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan-17 ETF Non MTF January 2017 31 30/11/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 ETF Non MTF February 2017 28 30/12/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 ETF Non MTF March 2017 31 31/01/2017 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 ETF Non MTF April 2017 30 28/02/2017 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 ETF Non MTF May 2017 31 31/03/2017 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 ETF Non MTF June 2017 30 28/04/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 ETF Non MTF July 2017 31 31/05/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 ETF Non MTF August 2017 31 30/06/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 ETF Non MTF September 2017 30 31/07/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 ETF Non MTF October 2017 31 31/08/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 ETF Non MTF November 2017 30 29/09/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 ETF Non MTF December 2017 31 31/10/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 ETF Non MTF January 2018 31 30/11/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 ETF Non MTF February 2018 28 29/12/2017 30/01/2018 01/02/2018 28/02/2018
Maturités /
Maturities
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Dec-16 ETF 1MW Non MTF December 2016 31 17/11/2016 29/11/2016 01/12/2016 31/12/2016
MONTH Jan-17 ETF 1MW Non MTF January 2017 31 30/11/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 ETF 1MW Non MTFh/d February 2017 28 30/12/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 ETF 1MW Non MTFh/d March 2017 31 31/01/2017 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 ETF 1MW Non MTFh/d April 2017 30 28/02/2017 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 ETF 1MW Non MTFh/d May 2017 31 31/03/2017 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 ETF 1MW Non MTFh/d June 2017 30 28/04/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 ETF 1MW Non MTFh/d July 2017 31 31/05/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 ETF 1MW Non MTFh/d August 2017 31 30/06/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 ETF 1MW Non MTFh/d September 2017 30 31/07/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 ETF 1MW Non MTFh/d October 2017 31 31/08/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 ETF 1MW Non MTFh/d November 2017 30 29/09/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 ETF 1MW Non MTFh/d December 2017 31 31/10/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 ETF 1MW Non MTFh/d January 2018 31 30/11/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 ETF 1MW Non MTFh/d February 2018 28 29/12/2017 30/01/2018 01/02/2018 28/02/2018
Maturités /
Maturities
Powernext®Commodities Market Notices 22/03/2017
89/89
8. Contracts on CEGH VTP
Code des contrats /
Contracts Code
Nombre de
jours /
Number of
Days
Premier jour de
négociation /
Trading Start
Dernier jour de
négocation /
Trading End
Premier jour de
livraison /
Delivery Start
Dernier jour de
livraison /
Delivery End
MONTH Jan. 2017 CEGH VTP Non MTF January 2017 31 01/12/2016 29/12/2016 01/01/2017 31/01/2017
MONTH Feb-17 CEGH VTP Non MTF February 2017 28 01/12/2016 30/01/2017 01/02/2017 28/02/2017
MONTH Mar-17 CEGH VTP Non MTF March 2017 31 01/12/2016 27/02/2017 01/03/2017 31/03/2017
MONTH Apr-17 CEGH VTP Non MTF April 2017 30 30/12/2016 30/03/2017 01/04/2017 30/04/2017
MONTH May-17 CEGH VTP Non MTF May 2017 31 31/01/2017 27/04/2017 01/05/2017 31/05/2017
MONTH Jun-17 CEGH VTP Non MTF June 2017 30 28/02/2017 30/05/2017 01/06/2017 30/06/2017
MONTH Jul-17 CEGH VTP Non MTF July 2017 31 31/03/2017 29/06/2017 01/07/2017 31/07/2017
MONTH Aug-17 CEGH VTP Non MTF August 2017 31 28/04/2017 28/07/2017 01/08/2017 31/08/2017
MONTH Sep-17 CEGH VTP Non MTF September 2017 30 31/05/2017 30/08/2017 01/09/2017 30/09/2017
MONTH Oct-17 CEGH VTP Non MTF October 2017 31 30/06/2017 28/09/2017 01/10/2017 31/10/2017
MONTH Nov-17 CEGH VTP Non MTF November 2017 30 31/07/2017 30/10/2017 01/11/2017 30/11/2017
MONTH Dec-17 CEGH VTP Non MTF December 2017 31 31/08/2017 29/11/2017 01/12/2017 31/12/2017
MONTH Jan-18 CEGH VTP Non MTF January 2018 31 29/09/2017 28/12/2017 01/01/2018 31/01/2018
MONTH Feb-18 CEGH VTP Non MTF February 2018 28 31/10/2017 30/01/2018 01/02/2018 28/02/2018
MONTH Mar-18 CEGH VTP Non MTF March 2018 31 30/11/2017 27/02/2018 01/03/2018 31/03/2018
MONTH Apr-18 CEGH VTP Non MTF April 2018 30 29/12/2017 28/03/2018 01/04/2018 30/04/2018
QUARTER Q1 2017 CEGH VTP Non MTF Q1 2017 90 01/12/2016 28/12/2016 01/01/2017 31/03/2017
QUARTER Q2 2017 CEGH VTP Non MTF Q2 2017 91 01/12/2016 29/03/2017 01/04/2017 30/06/2017
QUARTER Q3 2017 CEGH VTP Non MTF Q3 2017 92 01/12/2016 28/06/2017 01/07/2017 30/09/2017
QUARTER Q4 2017 CEGH VTP Non MTF Q4 2017 92 01/12/2016 27/09/2017 01/10/2017 31/12/2017
QUARTER Q1 2018 CEGH VTP Non MTF Q1 2018 90 29/12/2016 27/12/2017 01/01/2018 31/03/2018
QUARTER Q2 2018 CEGH VTP Non MTF Q2 2018 91 30/03/2017 27/03/2018 01/04/2018 30/06/2018
QUARTER Q3 2018 CEGH VTP Non MTF Q3 2018 92 29/06/2017 27/06/2018 01/07/2018 30/09/2018
QUARTER Q4 2018 CEGH VTP Non MTF Q4 2018 92 28/09/2017 26/09/2018 01/10/2018 31/12/2018
QUARTER Q1 2019 CEGH VTP Non MTF Q1 2019 90 28/12/2017 27/12/2018 01/01/2019 31/03/2019
SEASON Summer 2017 CEGH VTP Non MTF Summer 2017 183 01/12/2016 29/03/2017 01/04/2017 30/09/2017
SEASON Winter 2017 CEGH VTP Non MTF Winter 2017 182 01/12/2016 27/09/2017 01/10/2017 31/03/2018
SEASON Summer 2018 CEGH VTP Non MTF Summer 2018 183 01/12/2016 27/03/2018 01/04/2018 30/09/2018
SEASON Winter 2018 CEGH VTP Non MTF Winter 2018 182 30/03/2017 26/09/2018 01/10/2018 31/03/2019
SEASON Summer 2019 CEGH VTP Non MTF Summer 2019 183 28/09/2017 27/03/2019 01/04/2019 30/09/2019
CALENDAR Calendar 2017 CEGH VTP Non MTF Calendar 2017 365 01/12/2016 28/12/2016 01/01/2017 31/12/2017
CALENDAR Calendar 2018 CEGH VTP Non MTF Calendar 2018 365 01/12/2016 27/12/2017 01/01/2018 31/12/2018
CALENDAR Calendar 2019 CEGH VTP Non MTF Calendar 2019 365 29/12/2016 27/12/2018 01/01/2019 31/12/2019
CALENDAR Calendar 2020 CEGH VTP Non MTF Calendar 2020 366 28/12/2017 27/12/2019 01/01/2020 31/12/2020
Maturités /
Maturities