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Henry Hub Natural Gas Look-Alike Penultimate Financial Futures
Henry Hub Natural Gas Penultimate (Financial) futures are an outright natural gas contract between a buyer and a seller. The contract offers opportunities for risk management of the highly volatile pricing of natural gas.
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| Henry Hub Natural Gas Look-Alike Penultimate Financial Futures | |||||
|---|---|---|---|---|---|
| Code | HP | ||||
| Venue | CME Globex, CME ClearPort, Open Outcry (New York) | ||||
| Hours (All Times are New York Time/ET) |
CME Globex: | Sunday - Friday 6:00 p.m. - 5:15 p.m. (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT) | |||
| CME ClearPort: | Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m.CT) | ||||
| Open Outcry: | Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT) | ||||
| Contract Unit | 10,000 million British thermal units (mmBtu) | ||||
| Price Quotation | U.S. dollars and cents per mmBtu | ||||
| Minimum Fluctuation | $0.001 (0.1¢) per mmBtu | ||||
| Floating Price | The Floating Price for each contract month will be equal to the NYMEX (Henry Hub) Natural Gas Futures contract settlement price for the corresponding contract month on the business day preceding the last trading day for that contract month. | ||||
| Termination of Trading | Trading shall cease on the business day preceding the termination of trading for the corresponding contract month of the NYMEX (Henry Hub) Natural Gas Futures contract. | ||||
| Listed Contracts | The current year and the next five years. A new calendar year will be added following the termination of trading in the December contract of the current year. | ||||
| Trading at Settlement (TAS) | Trading at settlement is available for the front two months and is subject to the existing TAS rules of the underlying respective physical products. Trading in all TAS products will cease daily at 2:30 PM Eastern Time. The TAS products will trade off of a "Base Price" of 100 to create a differential (plus or minus) in points off settlement in the underlying cleared product on a 1 to 1 basis. A trade done at the Base Price of 100 will correspond to a "traditional" TAS trade which will clear exactly at the final settlement price of the day. | ||||
| Settlement Type | Financial | ||||
| Final Settlement | Delivery under the NYMEX Henry Hub Natural Gas Penultimate Swap contract shall be by cash settlement. Final settlement, following termination of trading for a contract month, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract month. | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 824 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||
