Henry Hub Natural Gas Futures Contract Specs

Contract Unit	10,000 million British thermal units (MMBtu)
Price Quotation	U.S. dollars and cents per MMBtu
Trading Hours	Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. /CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation	CME ClearPort:	0.001 per MMBtu = $10.00
	CME Globex:	0.001 per MMBtu = $10.00 Inter-commodity spreads on Globex may also occur in multiples of 0.00025 per MMBtu
Product Code	CME Globex: NG CME ClearPort: NG Clearing: NG TAS: NGT
Listed Contracts	Monthly contracts listed for the current year and the next 12 calendar years. Add monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Settlement Method	Deliverable
Termination Of Trading	Trading terminates on the 3rd last business days of the month prior to the contract month.
Trade At Marker Or Trade At Settlement Rules	Trading at settlement is available for spot (except on the last trading day) and months 2-12, subject to the requirements of Rule 524.A. TAS Trading terminates daily at 2:30 p.m. ET. Products eligible for TAS pricing trade off a "Base Price" of 0 to create a differential (plus or minus 10 ticks) versus the settlement in the underlying product on a 1 to 1 basis. A trade done at the Base Price of 0 will correspond to a "traditional" TAS trade which will clear exactly at the daily settlement price. TAS trading terminates 4 business days prior to the contract month. TAS calendar spread trading available in months 1-12, all combinations.
Settlement Procedures	Natural Gas Futures Settlement Procedures
Position Limits	NYMEX Position Limits
Exchange Rulebook	NYMEX 220
Block Minimum	Block Minimum Thresholds
Price Limit Or Circuit	Price Limits
Vendor Codes	Quote Vendor Symbols Listing
Grade And Quality	Natural Gas meeting the specifications set forth in the FERC-approved tariff of Sabine Pipe Line Company as then in effect at the time of delivery shall be deliverable in satisfaction of futures contract delivery obligations.

About Natural Gas

Henry Hub Natural Gas (NG) Futures allow market participants significant hedging activity to manage risk in the highly volatile natural gas price, which is driven by weather-related demand. They also provide efficient transactions in and out of positions. Natural gas futures are:

The third-largest physical commodity futures contract in the world by volume
Widely used as a national benchmark price for natural gas, which continues to grow as a global and U.S. energy source
An independent, stand-alone commodity

Things to know about the contracts:

Natural gas futures prices are based on delivery at the Henry Hub in Louisiana.
Traded electronically on CME Globex and off-exchange for clearing only as an EFS, EFP or block trade through CME ClearPort.
Options types include American, calendar spread, European and daily.

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