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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.

Onyx Markets NGL Natural Gas (1000MMBtu) N. America – Dated Commodity CFD

Natural Gas (1000MMBtu) N. America – Dated Commodity CFD

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Name & Trade Code

Contract Name Natural Gas (1000MMBtu)
MT5 Code Natural_Gas
Contract Classification Dated Commodity CFD
Geographical Region N. America

Contract Specification

Sector Energy
Product Group NGL
Tenor Period Dated: Next two available tenors
Maximum Forward Tenor Dated: Next two available tenors
Contract Size 1000
Contract Unit
Trading Price Quote $/MMBtu
Price Digits 3
Currency USD
Tick Value 1
Tick Size 0.001
Minimum Volume 0.1
Volume Steps [Lots] 0.1
Settlement Dated: Priced by the settlement value as defined by the exchange traded underlying contract
Margins View document

Expiry Trading Overview

Contract Expiry Date The last trading day of the expiring Tenor Period (i.e. 31 March 2025 for Mar 25 Tenor Period)
Last Trading Day (for new open positions) Five working days prior to the Contract Expiry Date for the Tenor Period (i.e. 24 March 2025 for Mar 25 Tenor Period)
Last Trading Day (for closing position in that Tenor Period) The Contract Expiry Date of the relevant Tenor Period

Tenor Period Settlement Valuation Process

Open Volume The net open volume for the expiring Tenor Period
Daily Settlement Value Market-on-Close – The daily settlement assessment time, e.g. 4:30 pm for European contracts
Daily Settlement Volume Each day during Tenor Period, the remaining Open Volume reduces by the equivalent of 1/ (number of pricing days in the Tenor Period, including today if prior to Market-on-Close) and be settled at Daily Settlement Value
Final Settlement Price Dated: Priced by the settlement value as defined by the exchange traded underlying contract
MOC Haircut None Applies

Contract Purpose

This outright contract allows market participants to:

  • Gain direct exposure to the price of natural gas at Henry Hub
  • Hedge against price fluctuations in the North American natural gas market
  • Speculate on the future price direction of natural gas in the United States

Market Significance

  • Benchmark Status: Serves as the primary pricing point for natural gas futures in North America
  • Global Reference: Used as a benchmark for natural gas pricing in international LNG contracts
  • Regional Indicator: Provides insights into supply and demand dynamics for natural gas in the U.S. market

Trading Benefits

  • Price Discovery: Offers a transparent mechanism for determining the price of natural gas based on actual supply and demand
  • Risk Management: Allows hedging against price volatility in the natural gas market
  • Market Access: Provides exposure to one of the world’s largest and most liquid commodity futures contracts

This contract is particularly valuable for energy companies, utilities, industrial consumers, and commodity traders active in the natural gas market. It offers a tool for managing price risks and implementing trading strategies related to natural gas in North America, with nearly 24-hour electronic access and high liquidity.