Trading at PEGAS

Trading at PEGAS
PEGAS provides customers with access to European natural gas products on a trading platform powered by Trayport® Global Vision ETS (Exchange Trading System) technology, which is the industrial standard in the energy trading community.

Trading on PEGAS – your advantages

  • Cleared location and time spreads
  • 24/7 trading on all natural gas spot markets, except CZ VTP, CZ VTP/TTF, CZ VTP/NCG, CZ VTP/GPL and CZ VTP/CEGH VTP
  • Standardized trading and settlement processes on all products
  • Cross-margining benefits for all our natural gas markets from the our common clearing house, European Commodity Clearing (ECC)
  • One rulebook for the full European PEGAS offer
  • One single admission process to join all PEGAS products
  • Improved time-to-market for new products and services

Clearing and settlement

Clearing and settlement of all transactions are provided by European Commodity Clearing (ECC), Europe’s leading energy clearing house. Clearing via ECC facilitates cross-margining of positions across all gas hubs. The cross-margining functionality is also available across all commodities, such as power, emissions, etc. In order to benefit from ECC Clearing, members are required to sign an agreement with an approved Clearing Member.

Product description

The PEGAS Spot market segment offers spot contracts on CEGH VTP, ETF, GASPOOL, NBP, NCG, PEG Nord, TRS, TTF, ZEE and ZTP hubs.  Additionally, locational spot contracts developed in coordination with major European Transmission Operators (TSOs) and Market Area Managers to assist with physical balancing are also available. Currently we offer such products for GASPOOL, NCG, TTF and the French PEGs (Nord and TRS).

The PEGAS Futures market segment offers futures contracts on CEGH CZ VTP, CEGH VTP, ETF, GASPOOL, NBP, NCG, PEG Nord, PSV, TRS, TTF, ZEE and ZTP hubs, as well as geographical and time spreads products.

The PEGAS Options market segment offers options contracts on the TTF hub, specifically for monthly instruments. 

Tradable maturities are described in Powernext Derivatives and Commodities Market Notices, downloadable in our download section.

Price references

PEGAS publishes the following spot price references on a daily basis:

  • EGSI (Daily Price: European Gas Spot Index) on all hubs; DRP (Daily Reference Price) on TTF, NCG and GASPOOL; DAP (Daily Average Price) on PEG Nord and TRS
  • End-of-Day Spot (EOD) Settlement Price on TTF, NCG, GASPOOL, PEG Nord, TRS, ETF, CEGH VTP and CZ VTP

The following futures price references are published by PEGAS:

  • Settlement Price
  • PEGAS Futures Monthly Index
  • EGIX (European Gas Index)

More details about the indices: spot and futures