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Transco Zone 6 Natural Gas (Platts IFERC) "Pipe" Options
Type
| Transco Zone 6 Natural Gas (Platts IFERC) "Pipe" Option | |||||
|---|---|---|---|---|---|
| Underlying Futures | Synthetic Futures Code: XZ Transco Zone 6 Basis (Platts IFERC) Futures (NZ) / Henry Hub Natural Gas Futures (NN) | ||||
| Product Symbol | TZ | ||||
| Venue | CME Globex, CME ClearPort and 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 AM to 2:30 PM (8:00 AM to 1:30 PM CT) | ||||
| Contract Unit | On expiration of a call option, the value will be the difference between the mathematical sum of the settlement prices for the underlying Transco Zone 6 Basis (Platts IFERC) Futures and Henry Hub Natural Gas Futures and the strike price multiplied by 2,500 MMBtu, or zero, whichever is greater. On expiration of a put option, the value will be the difference between the strike price and the sum of the settlement prices for the underlying Transco Zone 6 Basis (Platts IFERC) Futures and Henry Hub Natural Gas Futures multiplied by 2,500 MMBtu, or zero, whichever is greater. | ||||
| Price Quotation | U.S. dollars and cents per mmBtu. | ||||
| Option Style | European | ||||
| Minimum Fluctuation | $0.0001 per MMBtu | ||||
| Expiration of Trading | Trading ends on the termination day of the underlying basis future. | ||||
| Listed Contracts | CME ClearPort and Open Outcry: | 72 consecutive months | |||
| CME Globex: | 1 month | ||||
| Strike Prices | Five strike prices in increments of $0.01 per mmBtu above and below the at-the-money strike price Strike price boundaries are adjusted according to futures price movements. | ||||
| Settlement Type | Financial | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 521A | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||
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