Products List and Specifications - Natural gas segment

HUDEX Hungarian Natural Gas Futures
Product Name	HUDEX Hungarian Natural Gas Base Load Product
Description	Futures contracts of natural gas, delivered at the Hungarian Natural Gas Transmission Network operated by FGSZ Ltd.
Listing day	3rd of January 2018
Underlying product	Delivered as default contract on MGP (virtual point) of the Hungarian Natural Gas Transmission Network followed by a nomination to FGSZ Ltd.
Basic quality of the underlying product	MSZ ISO 6976 type natural gas at GCV 25°/0°
Lot size (minimum tradable volume)	1 MW
Maximum quantity	1000 MW
Price characteristics	In euro per MWh with two decimal digits
Tick (minimum tick value)	One euro cent per MWh; 0.01 €/MWh
Minimum and maximum prices	0.01 €/MWh / 1000.00 €/MWh
Trading Days	According to the Trading Calendar
Trading session opening	According to the Trading Calendar
Trading procedure	Continuous
Clearing and Settlement	The Clearing House for the Natural Gas Segment of HUDEX is KELER CCP according to the Market Rules of HUDEX.
Settlement Prices	Settlement Prices will be published by HUDEX on its official website as soon as possible after the closing of the Market on each trading day.
Delivery	Delivered on MGP (virtual point) of the Hungarian Natural Gas Transmission Network followed by a nomination to FGSZ Ltd.
HUDEX Hungarian Natural Gas Futures Contracts
Eligible Contracts	the next 3 individual Months the next 4 individual Quarters (defined as Jan-Mar, Apr – Jun, Jul – Sep and Oct –Dec)
Contract delivery size	1 MWh/h x days x hours Monthly Contract series: 672 MWh (Feb, non-leap) 696 MWh (Feb, leap) 743 MWh (Mar) 744 MWh (Jan, May, Jul, Aug, Dec) 720 MWh (Apr, Jun, Sep, Nov) 745 MWh (Oct)
Opening Day	Opening of new Contract takes place at expiry of old Contract series
Last trading day and cascading	The Last Trading Day of a Contract series takes place 2 Clearing House’s business days (according to the Clearing House’s calendar) before start of the delivery period for monthly contracts, and 3 Clearing House’s business days (according to the Clearing House’s calendar) for quarterly contracts. Quarterly contract cascades into 3 individual Monthly contracts.
Method of delivery	All contracts are physical contracts and lead to physical delivery on MGP (virtual point). 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.