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NYMEX ClearPort
Contract Detail
Description
Specifications
Margins
Termination Schedule
Terms & Conditions
Tetco South Texas Basis Swap (Platts IFERC)
Trading Unit
2,500 million British thermal units (mmBtus).
Price Quotation
U.S. dollars and cents per mmBtu. Because this contract is priced on the differential between natural gas prices at the Henry Hub in Louisiana and the Texas Eastern Transmission Co. South Texas pricing point, it can be quoted as either a positive or negative number.
Minimum Price Fluctuation
The minimum trade fluctuation is $0.0025, and settlement fluctuations are in increments of $0.0001.
Trading Hours (All times are New York time)
The contract is available for trading on the NYMEX ClearPort® trading platform from 6:00 PM Sundays through 5:15 PM Fridays, with a 45-minute break each day between 5:15 PM and 6:00 PM. Off-Exchange transactions can be submitted solely for clearing to the NYMEX ClearPort® clearing website as an exchange of futures for swaps (EFS) or exchange of futures for physicals (EFP) transaction until 5:15 PM, Monday through Friday, and the day preceding a holiday.
Listed Months
72 consecutive months.
Termination of Trading
Trading ceases on the last business day of the month prior to the contract month.
Settlement Type
Financial, based on Platts Inside FERC's Gas Market Report Tetco South Texas index published in the table titled "Prices of Spot Gas Delivered to Pipelines" in the first regular issue of the contract month minus the NYMEX Division Henry Hub natural gas futures contract final settlement price for the corresponding month.
Trading Symbol
TX
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