UK Gas update June 2015, London
Content Market Update Trading System Enhancements OCM Clearing and Settlement Migration Fee Schedule & Rebates 2
Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Volume (Therms) Volumes per month (last 24 months) Average monthly volume: 371,308,000 500,000,000 OCM Volume 450,000,000 400,000,000 350,000,000 300,000,000 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Volume (Therms) Volumes per month (year on year) 600,000,000 2012 2013 2014 2015 500,000,000 400,000,000 300,000,000 200,000,000 100,000,000 0
jun-13 jul-13 aug-13 sep-13 okt-13 nov-13 dec-13 jan-14 feb-14 mrt-14 apr-14 mei-14 jun-14 jul-14 aug-14 sep-14 okt-14 nov-14 dec-14 jan-15 feb-15 mrt-15 apr-15 mei-15 Trades (#) Trades per month (last 24 months) Average monthly number of trades: 6,463 8,000 OCM Trades 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0
01/03/2015 08/03/2015 15/03/2015 22/03/2015 29/03/2015 05/04/2015 12/04/2015 19/04/2015 26/04/2015 03/05/2015 10/05/2015 17/05/2015 24/05/2015 Volume (Therms) Daily volumes Mar 2015 - May 2015 Shippers % share of volume: 98.6% NGC % share of volume: 1.4% 60,000,000 OCM Volume 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 0 National Grid Shippers
01/05/2015 02/05/2015 03/05/2015 04/05/2015 05/05/2015 06/05/2015 07/05/2015 08/05/2015 09/05/2015 10/05/2015 11/05/2015 12/05/2015 13/05/2015 14/05/2015 15/05/2015 16/05/2015 17/05/2015 18/05/2015 19/05/2015 20/05/2015 21/05/2015 22/05/2015 23/05/2015 24/05/2015 25/05/2015 26/05/2015 27/05/2015 28/05/2015 29/05/2015 30/05/2015 31/05/2015 Volume (Therms) Volumes May 2015 Highest volume: 15,898,000 (2 May) Lowest volume: 6,127,000 (1 May) Average total daily vol: 10,251,129 NGC share of volume: 0.55% OCM Volume 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 National Grid Shippers
1-Mar-15 3-Mar-15 5-Mar-15 7-Mar-15 9-Mar-15 11-Mar-15 13-Mar-15 15-Mar-15 17-Mar-15 19-Mar-15 21-Mar-15 23-Mar-15 25-Mar-15 27-Mar-15 29-Mar-15 31-Mar-15 02-Apr-2015 04-Apr-2015 06-Apr-2015 08-Apr-2015 10-Apr-2015 12-Apr-2015 14-Apr-2015 16-Apr-2015 18-Apr-2015 20-Apr-2015 22-Apr-2015 24-Apr-2015 26-Apr-2015 28-Apr-2015 30-Apr-2015 02-May-2015 04-May-2015 06-May-2015 08-May-2015 10-May-2015 12-May-2015 14-May-2015 16-May-2015 18-May-2015 20-May-2015 22-May-2015 24-May-2015 26-May-2015 28-May-2015 30-May-2015 p/therms Daily SAP/SMP prices Highest SMP buy: 54.99 p/th (6 May) Lowest SMP buy: 43.17 p/th (10 May) Highest SAP: 52.38 p/th (1 Apr) Lowest SAP: 42.18 p/th (20 May) Highest SMP sell: 51.15 p/th (1 Apr) Lowest SMP sell: 41.20 p/th (10 May) 56 54 52 50 48 46 44 42 40 SMP buy SAP SMP sell
Trading System Enhancements Filtering on ticker upgraded based on member feedback WebICE Version 12.975 released on 20 June : Support for AON orders (visible to other users, denoted by (A) in front of order volume). SWEEP orders from market depth Alarm feature now includes status change of SAP/SMPs Remaining time to product close pop up window All features can be tested and trained on in API Test environment https://www.theice.com/launch 9
Fee schedule and rebates aims to be best value for money provider of trading and clearing system operator. Transition to ICE Trading Platform and Clearing Systems aimed at increasing the quality of service whilst reducing the cost of trading. Since 1 April 2015 OCM members have access to WebICE, providing real time access to market data for all futures, options and spot markets. The WebICE charge ($95 per user / per month) is offset by a one off fee rebate as part of next settlement cycle New improved fee schedule has been developed and will take affect as per Clearing and Settlement migration. Further details will be provided in the coming weeks 10
Spot Clearing Migration Current Model - APX Future Model - ICEU APX ICEU Clearing Bank Clearing Bank
Spot Clearing Migration Go live date 14 July 2015 subject to approval from NGG and OFGEM and dependent on level of market readiness. Decision on Go or No-Go will be taken on 25 June. Test environment available for (clearing) members from 15 June, test plan and script is now available. will take over the role of Trading System Clearer (TSC) under UNC and has applied for a restricted license. As a result the short code used for the OCM will change (current short code is ENO ). will continue to submit trade nominations on behalf of users and NGG. More information available on : https://community.theice.com/community/ice_clear/ice_clear_europe/ice-endex-spot 12
Thank you 13 DISCLAIMER The information contained in this document ( Presentation ) has been prepared by and is subject to change without notice. Copyright and intellectual property right protection exists in this Presentation and it may not be reproduced, distributed or published with any third party, in whole or in part, without the express prior written permission from. All rights are reserved. While reasonable care has been taken to ensure that the information contained herein is true and accurate, makes no representation to its correctness, reliability or completeness including likelihood of achievement or reasonableness of any forecasts, prospects, returns or statements in relation to future matters that may be contained in this Presentation. Neither nor any of its directors or employees accepts any liability in respect of the information contained in the Presentation or for any loss arising from the use of this Presentation, its contents or otherwise arising in connection with it. This Presentation does not constitute an offer, invitation or recommendation to any transaction and neither is it to be taken as any form of commitment on the part of to proceed with any transaction.