ICE Endex Announces Results of European Gas Storage Auction for GasTerra
Intercontinental Exchange (ICE) announced the successful results of the ICE Endex gas storage auction held on November 25, 2020, offering 1,696,084 Standard Bundled Units (SBUs) for the 2021/2022 contract period. All SBUs were allocated at an average weighted price of 3.35 EUR. ICE Endex has conducted these gas storage auctions since 2011, with volumes for TTF Futures and Options increasing significantly, reflecting the evolving global benchmark for natural gas. The gas storage capacity totals nearly 5 billion kWh.
- Successful allocation of 1,696,084 SBUs at an average price of 3.35 EUR.
- Strong year-over-year growth in TTF Futures and Options volume by over 50%.
- Open Interest for TTF Futures and Options increased by more than 20% year over year.
- Continued operation of gas storage auctions since 2011 enhances market liquidity.
- None.
AMSTERDAM--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, today announced the results of the ICE Endex gas storage auction held on November 25, 2020, on behalf of GasTerra.
On November 25, a total of 1,696,084 Standard Bundled Units (SBUs) for the contract period 2021/2022 were offered to the market and after five auction rounds, all SBUs were allocated. The outcome of the auction is an average weighted price per SBU of 3.35 EUR.
ICE Endex has successfully operated auctions for virtual gas storage services in the Netherlands since 2011, with auctions taking place twice a year.
Gas storage services are sold in the form of SBUs, which allow market participants to inject or withdraw gas from a virtual storage facility. An SBU has a capacity of 1,440 kWh and participants may withdraw between 0.6 and 1.0 kWh per hour and inject up to 0.3333 kWh per hour. The total annual gas storage space is almost 5 billion kWh of natural gas or 3,392,168 SBUs. The natural gas from this virtual storage is delivered at the Title Transfer Facility (TTF). TTF is the most liquid European natural gas benchmark, followed by ICE’s UK Natural Gas Futures.
Amid the liberalization of liquefied natural gas and the corresponding globalization of natural gas markets, TTF is evolving into a global natural gas benchmark. TTF Futures and Options volume is up more than
As a leading energy exchange in Continental Europe, ICE Endex provides transparent and widely accessible continental European markets for trading natural gas and power derivatives, gas balancing markets and gas storage services.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company and provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing, trading and clearing of a broad array of derivatives contracts and financial securities across major asset classes. Our comprehensive data services offering supports the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. As a leading technology provider for the U.S. residential mortgage industry, ICE Mortgage Technology provides the technology and infrastructure to transform and digitize U.S. residential mortgages, from application and loan origination through to final settlement.
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Source: Intercontinental Exchange
