PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURE (“ICE ENDEX FRENCH PEG 

NATURAL GAS FUTURES”) AND ICE ENDEX FRENCH PEG NATURAL GAS 

DAILY FUTURES CONTRACT (“ICE ENDEX FRENCH PEG NATURAL GAS 

DAILY FUTURES”)

1. DEFINITIONS

1.1 The following additional definitions apply to this part of the Delivery Procedures:

(a) The term “Acquiring Trade Nomination” means a nomination submitted, in the manner 

required by the GRTgaz Rules and otherwise in accordance with the ICE Endex Rules and this 

Part HH, by the Transferee to acquire rights in respect of one or more lots of Natural Gas at 

the PEG.

(b) The terms “D+” or “D-” relate to the number of Business Days before and after the Delivery 

Day respectively on which rights to Natural Gas are to be transferred. 

(c) The term “Delivery Day” means the period of 24 consecutive hours beginning at 06:00 hours 

CET on a day on which the transfer of rights in respect of Natural Gas is due to be made under 

a Contract in accordance with ICE Endex Rules and this Part HH and ending at 06:00 hours 

CET on the following calendar day. 

(d) The term “Delivery Month” means the period beginning at 06:00 hours CET on the first 

calendar day of the month until 06.00 hours CET on the first calendar day of the next month.

(e) The term “Disposing Trade Nomination” means a nomination submitted, in the manner 

required by the GRTgaz Rules and otherwise in accordance with ICE Endex Rules and this 

Part HH, by the Transferor to dispose of rights in respect of one or more lots of Natural Gas at 

the PEG operated by GRtgaz.

(f) The term “French Energy Code” refers to the code (Code de l’énergie) which namely 

transposes into French law the French grid-based natural gas supply system statutory 

framework as set out in several European Directives and Regulations, in particular Regulation 

(EC) no 715/2009 of 13 July 2009 on conditions for access to the natural gas transmission 

networks and Regulation no 984/2013 and Regulation (EU) 312/2014 of 26 March 2014 on 

establishing a network code on gas balancing of transmission networks. 

(g) The term “GRTgaz” means GRTgaz, being one of the operators of the Transmission System 

in France, or any successor thereto.

(h) The term “GRTgaz Terms and Conditions” means the contract entered into between a 

Clearing Member and GRTgaz as PEG-only shippers.

(i) The term “GRTgaz Rules” means the French Energy Code, the GRTgaz Terms and 

Conditions and any manuals, procedures, practices and directors of GRTgaz that support the 

operations of the PEG, as amended from time to time.

(j) The term “ICE Endex French PEG Natural Gas Futures Contract”, or “Contract”, means 

ICE Endex French PEG Natural Gas Future and ICE Endex French PEG Natural Gas Daily 

Futures.

(k) The term “Invoice Period” refers to the period beginning at the start of the day on which the 

last invoice was issued, up to the end of the day prior to the date of the current invoice and 

also includes any additional period of time during which payments are made from the Buyer 
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

(l) to the Seller in respect of completed deliveries.

(m) The term "Kilowatt Hours" or "kWh" means 3,600,000 joules where "joule" is defined in 

ISO 1000:1992(E) or any standard replacing the same as nominated by ICE Endex.

(n) The term "Licensed Shipper" means a Person having executed all necessary agreements with 

GRTgaz and obtaining the necessary access to the PEG title transfer point in France, as 

required by the GRTgaz rules, to transfer rights to Natural Gas at the PEG. 

(o) The term “M+” or “M-” means, in respect of a Contract, the number of Business Days 

immediately following the last day of the month or the number of Business Days immediately 

preceding the first day of the month in which the Delivery Day specified in the Contract 

commenced.

(p) The term “Megawatt Hours” or “MWh” means 1000 kWh, where 1 kWh means 3,600,000

joules and where “joule” is as defined in ISO 1000:1992(E) or any standard replacing the 

same as nominated by ICE Endex.

(q) The term “Natural Gas” means any hydrocarbons or mixture of hydrocarbons and other gases 

consisting predominantly of methane and, to a lesser extent, ethane, propane and higher 

hydrcarbons, which at a temperature of 15 degrees Celsius and at an absolute pressure of 

1.01325 bar are or is predominantly in the gaseous state where “degree Celsius” and “bar” are 

as defined in ISO 1000:1992(E) or any standard replacing the same as nominated by ICE 

Endex.

(r) The term "Net Hourly Position" is calculated by the Clearing House for each Transferee or 

Transferor associated to a Clearing Member and refers to the net position per hour 

denominated in kWh between it and each Clearing Member for delivery of Natural Gas under 

the ICE Endex French PEG Natural Gas Futures Contracts to which the Clearing House and 

that Clearing Member are a party.

(s) The term “PEG” means, in respect of a Contract, the title transfer point in the Transmission 

System where the Licensed Shipper exchanges daily quantities of energy with other shippers 

or with one of the operators of the Transmission System in France.

(t) The term “Trade Nomination” means in respect of a Contract, either a Disposing Trade 

Nomination or an Acquiring Trade Nomination, as the case may be, nominated in MWh.

(u) The term “TRANS@ctions Platform” means GRTgaz’s electronic messaging protocol which 

enables, inter alia, submission of a Trade Nomination to GRTgaz and to access information 

concerning the submitted Trade Nominations, and any successor system.

(v) The term “Transmission System” means the set of structures, facilities and systems operated

by GRTgaz or under its responsibility, consisting in particular of pipelines, compressor 

stations, measuring facilities, pressure reduction equipment, block-valve equipment, 

transmission systems, computer systems, etc. used by GRTgaz to perform the services under 

the GRTgaz Terms and Conditions.

2. CLEARING HOUSE AUTHORITY

2.1 The Clearing Member hereby grants authority to the Clearing House to make Trade Nominations on its 

behalf and instead of it in connection with deliveries under ICE Endex French PEG Natural Gas 

Futures Contract. No Clearing Member shall revoke or terminate, nor purport to revoke or terminate, 

such authorisation. Clearing Members are not required to send Trade Nominations themselves. 

Clearing Members acknowledge that GRTgaz may take into consideration the Trade Nominations 
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

made by the Clearing House and ignore Trade Nominations sent by Buyers, Sellers, Transferors or 

Transferees.

3. DELIVERY SPECIFICATION

3.1 Delivery

Deliveries of ICE Endex French PEG Natural Gas Futures Contracts are effected by the transfer of 

rights to Natural Gas at the PEG from a Transferor (nominated by the Seller, which may be the Seller

itself) to the Clearing House and from the Clearing House to a Transferee (nominated by the Buyer, 

which may be the Buyer itself), through the input of Acquiring Trade Nominations and Disposing 

Trade Nominations into the TRANS@ctions Platform by the Clearing House. GRTgaz will take those 

Trade Nominations into account when determining whether any costs or charges arise from the 

balancing regime.

3.2 Quantity

ICE Endex French PEG Natural Gas trades in MWh/day and is delivered in MWh / kWh.

3.3 Price

The price at which the ICE Endex French PEG Natural Gas Futures Contracts is delivered is the 

Exchange Delivery Settlement Price (EDSP) for the second Business Day immediately prior to the 

calendar day on which the Delivery Month for the ICE Endex French PEG Natural Gas Futures 

Contract commences in accordance with the ICE Endex Rules. 

The price at which the ICE Endex French PEG Natural Gas Daily Futures Contract is delivered is the 

Exchange Delivery Settlement Price (EDSP) for the Business Day immediately prior to the calendar 

day on which the Delivery Day for the ICE Endex French PEG Natural Gas Daily Futures commences 

in accordance with the ICE Endex Rules.

3.4 Days and Times

All “timings” or times of day are Central European Time (“CET”) or Central European Summer Time 

(“CEST”) as applicable.

3.5 Cessation of Trading

(a) ICE Endex French PEG Natural Gas Futures Contract cease trading at 18:00 hours on the day, 

which is two Business Days prior to the first calendar day of the delivery month, in 

accordance with these Delivery Procedures and the ICE Endex Rules.

(b) The ICE Endex French PEG Natural Gas Daily Futures Contract cease trading at 18:00 on the 

business day which is one Business Day prior to the Delivery Day, in accordance with these 

Delivery Procedures and the ICE Endex Rules.

3.6 Exchange for Physicals (EFPs) and Exchange for Swaps (EFSs)

For ICE Endex French PEG Natural Gas Futures Contract, in accordance with ICE Endex Rules, EFPs 

and EFSs may be posted up to one hour following the cessation of trading. For the ICE Endex French 

PEG Natural Gas Daily Futures Contract, in accordance with ICE Endex Rules, EFPs and EFSs may be 

posted up to thirty minutes following the cessation of trading.

3.7 Notifications by Clearing Members
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

Clearing Members shall inform the Clearing House as soon as possible of: (i) any clearing services 

arrangements with Transferors and Transferees that has not been previously notified to the Clearing 

House; (ii) termination of any clearing services arrangements with Transferors and Transferees; and 

(iii) default by a Transferor or Transferee under clearing services arrangements with Transferors and 

Transferees. Notifications made to the Clearing House under this paragraph shall be notified by the 

Clearing House to GRTgaz. 

4. LIABILITY 

4.1 The provisions of this paragraph 4 are without prejudice to the generality, and subject to, the provisions 

of the Rules relating to liability and apply in addition to the general requirements of these Delivery 

Procedures.

4.2 The Transmission System, GRTgaz and the TRANS@ctions Platform constitute "Delivery Facilities" 

for the purposes of Rule 101 of the Rules.

4.3 The Clearing House is not responsible for, and shall have no liability whatsoever as a result of:

(a) the performance or non-performance of GRTgaz of its obligations under the GRTgaz Rules; 

or 

(b) the performance or non-performance of GRTgaz;

4.4 Neither the Buyer nor the Seller, nor their Transferees or Transferors, shall have any claim against the 

Clearing House for any loss, cost, damage or expense incurred or suffered as a result of:

(a) any actions taken by the Clearing House pursuant to the GRTgaz Rules; or

(b)

(i) technical issues, technical measures, authorisations, limitations, prohibitions or 

failures arising or imposed on;

(ii) the condition or operation of; or

(iii) the performance or non-performance of,

the Transmission System, GRTgaz and the TRANS@ctions Platform ties except as otherwise 

expressly provided in the ICE Endex Rules.

The Buyer, the Seller and their respective Transferees and Transferors accept any consequences 

arising from Trade Nominations made by the Clearing House on their behalf pursuant to paragraph 2.1.

5. DELIVERY CONTRACT SECURITY

The Clearing House makes the delivery information available through the delivery system on a daily 

basis to Clearing Members with delivery positions.

(a) Buyer’s Security

Buyer’s Security is calculated by reference to the relevant EDSP plus a “Buyer’s Default Top-up”. The 

“Buyer’s Default Top-up” is an amount calculated against the possibility of costs or charges arising 

from the balancing regime under the GRTgaz Rules. 
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

The Clearing House may alter the calculation of Buyer’s Security at any time or make adjustments in 

respect of specific Buyers.

(b) Seller’s Security

Seller’s Security is calculated against the Seller’s Default Price (SDP) for the relevant Delivery Day.

The SDP is calculated by reference to costs and charges arising from the balancing regime under the

GRTgaz Rules, or EDSP.

The Clearing House may alter the calculation of Seller’s Security at any time or make adjustments in 

respect of a specific Seller.

6. DELIVERY TIMETABLE FOR ICE ENDEX FRENCH PEG NATURAL GAS: ROUTINE

6.1 ICE Endex French PEG Natural Gas Futures Contract

2 Business Days prior to the 1

st Delivery Day (M-2) 

Cessation of Trading At 

18:00 

CET

Monthly Contract ceases trading.

By 

19:00 

CET

EFPs and EFSs may be posted up to one hour following the cessation 

of trading.

Provision of Buyer’s and 

Seller’s Security

M-1

By

10:00 

CET

Seller and Buyer must provide the Clearing House with Seller’s 

Security and Buyer’s Security as appropriate. This is calculated for all 

deliverable Open Contract Positions at close of business on D-2 (which 

corresponds to M-2 for the first delivery day and M-1 for the second).

The Clearing House may make adjustments to provisional Seller’s 

Security or Buyer’s Security by making intra-day calls at this time or 

other times on this day.

Submission of delivery 

intentions for ICE Endex 

French PEG Natural Gas 

Futures Contract

By 

11:30 

CET

Buyer and Seller must, for all deliverable Open Contract Positions, 

submit their delivery intentions via ECS for the ICE Endex French 

PEG Natural Gas Futures Contract. If delivery details are known, the 

delivery intentions for ICE Endex French PEG Natural Gas Futures 

Contract may be submitted to the Clearing House any time from the 

start of M-2 but must have been submitted by 11:30 CET on M-1.

Nomination of 

Transferee/Transferor

By 

11:30 

CET

Seller or Buyer who is nominating a Transferee or Transferor in respect 

of a Contract must ensure that the Clearing House has in its possession 

a signed ICE Endex French PEG Natural Gas Futures: Blanket 

Transferee Form or ICE Endex French PEG Natural Gas Futures 

Blanket Transferor Form (as applicable) for each nominated Transferee 

or Transferor. This Transferee/Transferor Form must be signed by the 

Transferee/Transferor.
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

By 

11:30 

CET

Deadline for position maintenance within ECS. 

Clearing Members with Open Contract Positions at this time for a 

Contract Set subject to delivery are obliged to make or take delivery.

After 

11:30

CET

MPFE report available in MFT and ECS to Clearing Members.

ICE Endex French PEG 

Natural Gas Futures 

Contracts Confirmation 

Report

By 

14:00

CET

The ICE Endex French PEG Natural Gas Futures Confirmation 

Reports, listing all deliverable positions in kWh for the Delivery 

Month, are made available to Clearing Members electronically. Where 

Clearing Members will have submitted email details for their 

Transferee/Transferors, this report will also be emailed directly to the 

Transferee/Transferors.

It is the responsibility of the Clearing Member to ensure that each 

nominated Transferee/Transferor has received a copy of the ICE Endex

French PEG Natural Gas Futures Conversion and Confirmation Report.

By 

15:00 

CET

Seller and Buyer must each inform the Clearing House of any details 

on the ICE Endex French PEG Natural Gas Futures Conversion and 

Confirmation Report that do not match the delivery intentions

previously submitted for the ICE Endex French PEG Natural Gas 

Futures Contract. 

Failure to notify the Clearing House by this deadline will constitute 

acceptance by the Seller and Buyer of their delivery obligations.

If necessary, the Clearing House will then make any appropriate

amendments to the Confirmation Report and resend it to Clearing 

Members.

Entry of Disposing and 

Acquiring Nominations

By 

15:00 

CET

Seller and Buyer must ensure that their nominated 

Transferees/Transferors have entered the appropriate Disposing Trade 

Nomination(s)/Acquiring Trade Nominations(s) into the 

TRANS@ctions Platform.

If by 16:30 CET one such Trade Nomination has not been accepted by 

GRTgaz, the Clearing House, or its agent, may direct the Seller (or its 

Transferor) or the Buyer (or its Transferee) who submitted the Trade 

Nomination to amend or withdraw such Trade Nomination on such 

terms as the Clearing House may consider appropriate until such Trade 

Nomination is accepted by GRTgaz.

In the event that the Seller (or its Transferor) or Buyer (or its

Transferee) have entered a Trade Nomination Quantity different from 

that appearing on the ICE Endex French PEG Natural Gas Futures 

Confirmation Report, which has been accepted by GRTgaz under 

GRTgaz Rules, the Clearing House or its agent may direct the Seller 

(or its Transferor) or the Buyer (or its Transferee) to amend or 

withdraw such Trade Nomination on such terms as the Clearing House 

may consider appropriate.
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

Submission of Nominations

M-1

By 

10:00 

CET

The Clearing House makes Daily Summary Report available. The 

report identifies the positions that are deliverable.

The appointed nomination agent will make the nominations to 

GRTgaz representing the final delivery position held at the Clearing 

House.

Delivery Day (D) (or next Business Day if D is a non-Clearing Day)

By 

10:00 

CET

The Clearing House makes the Daily Summary Report available.

The Clearing House will apply Contingent Variation Margin to the 

Buyer’s and the Seller’s remaining Natural Gas units.

D+1

Payment, Seller’s Security 

and Buyer’s Default Top 

Up

By 

10:00 

CET

Seller’s Security for actual delivered amount is released.

The Clearing House will continue to apply Contingent Variation 

Margin to the Buyer’s and the Seller’s remaining Natural Gas units.

The Clearing House releases the ‘Buyer’s Default Top-up’ portion of 

the Buyer’s Security on confirmed deliveries.

Buyers make contract payment via their Nominated Accounts in 

respect of deliveries for the preceding delivery day. Buyer’s Security is

released as part of the payment transaction

Seller receives contract value (payment) for confirmed delivered

amount in respect of deliveries for the preceding delivery day.

Invoice and Account Sale 

Details

One Day following the end of the Invoice Period

By 

10:00

CET

The Clearing House makes the Invoices and Account Sales available to 

Seller and Buyer for the Invoice Period.

Note: the above timetables can be altered without notice at the discretion of the Clearing House, including in the

circumstances set out at Clause 4.4(a) and (b). 

6.2 ICE Endex French PEG Natural Gas Daily Futures Contract 

1 Business Day prior to the Delivery Day (D-1)

Cessation of Trading At 

18:00 

CET

Daily Contract ceases trading.
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

Submission of 

delivery intentions 

for ICE Endex

French PEG Natural 

Gas Daily Futures 

Contract

By 

18:30 

CET

Buyer and Seller must, for all deliverable Open Contract Positions, submit 

delivery intentions via ECS for ICE Endex French PEG Natural Gas Daily 

Futures Contract. 

Nomination of 

Transferee 

/Transferor

By

18:30

CET

Seller or Buyer who is nominating a Transferee or Transferor in respect of a 

Contract must ensure that the Clearing House has in its possession a signed 

ICE Endex French PEG Natural Gas: Blanket Transferee Form or ICE Endex 

French PEG Natural Gas: Blanket Transferor Form (as applicable) for each 

nominated Transferee or Transferor. This Transferee/Transferor Form must 

be signed by an authorised signatory of the Transferee/Transferor.

By 

18:30 

CET

EFPs and EFSs may be posted up to thirty minutes following the cessation of

trading.

By 

18:30 

CET

Settlement instructions and Open Contract Positions transfers are entered for 

expired Contracts.

Clearing Members with Open Contract Positions at this time for a Contract 

Set subject to delivery are obliged to make or take delivery.

After 

18:30 

CET

MPFE report available in MFT and ECS to Clearing Members.

ICE Endex French 

PEG Natural Gas 

Daily Futures 

Conversion and 

Confirmation Report

After 

18:00 

CET

The ICE Endex French PEG Natural Gas Daily Futures Conversion and 

Confirmation Reports, listing all deliverable positions in kWh for the 

Delivery Day, are made available to Clearing Members electronically. 

Where Clearing Members will have submitted email details for their 

Transferee/Transferors, this report will also be emailed directly to the 

Transferee/Transferors.

It is the responsibility of the Clearing Member to ensure that each nominated 

Transferee/Transferor has received a copy of the ICE Endex French PEG 

Natural Gas Daily Futures Conversion and Confirmation Report.

By 

20:00

CET

Seller and Buyer must each inform the Clearing House of any details on the 

ICE Endex French PEG Natural Gas Daily Futures Conversion and 

Confirmation Report that do not match the delivery intentions that they 

submitted previously.

Failure to notify the Clearing House by this deadline will constitute 

acceptance by the Seller and Buyer of their delivery obligations.

If necessary, the Clearing House will then make any appropriate amendments 

to the ICE Endex French PEG Natural Gas Daily Futures Conversion and 

Confirmation Report and resend it to Clearing Members.
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

Notification file to 

Nomination Agent

By 

20:00 

CET

The Clearing House will send to its appointed nomination agent a 

notification file detailing the nominations to be made between the Clearing 

House and the Seller (or the Seller’s Transferor), and the nominations to be 

made between the Clearing House and the Buyer (or the Buyer’s Transferee).

Delivery Day (D) (or next Business Day if D is a Non-Clearing Day)

Provision of Buyer’s 

and Seller’s Security

By 

10:00 

CET

Seller and Buyer must provide the Clearing House with Seller’s Security and 

Buyer’s Security as appropriate. This is calculated for all deliverable Open 

Contract Positions at close of business on D-1.

The Clearing House may make adjustments to provisional Seller’s Security 

or Buyer’s Security by making intra-day calls at this time or other times on 

this day.

The Clearing House makes Daily Summary Report available.

D+1

Final Confirmation 

of Delivery Report 

By 

10:00

CET

The Clearing House makes the Daily Summary Report available for the 

previous day’s deliveries.

Seller’s Security and 

Buyer’s Default Top 

Up

By 

10:00

CET

Seller’s Security for actual delivered amount is released.

The Clearing House releases the ‘Buyer’s Default Top-up’ portion of the 

Buyer’s Security on confirmed deliveries.

Payment By 

10:00

CET

Seller receives contract value (payment) for confirmed delivered amount in 

respect of deliveries for the preceding day as detailed on the Invoice and 

Account Sale report.

Buyer pays contract value for both performed and failed delivery amounts in 

respect of deliveries for the preceding month as detailed on the Invoice and 

Account Sale Report. Buyer’s Security is released as part of the payment 

transaction.

N.B. A credit note may be issued at a later date against the failed deliveries.

One Day following the end of the Invoice Period

Invoice and Account 

Sale Details

By 

10:00 

CET

The Clearing House makes the Invoice and Account Sale Report available to 

Seller and Buyer for the Invoice Period.
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

7. DELIVERY TIMETABLE FOR ICE ENDEX FRENCH PEG NATURAL GAS: FAILED 

DELIVERY

7.1 ICE Endex French PEG Natural Gas Futures Contracts

Seller’s Security and 

Buyer’s Default Top Up

D+2

By 

10:00

CET

In the event of a failed delivery, the Clearing House may call 

additional Seller’s Security and/or Buyer’s Security.

10 Business Days following the month or week of delivery (M +10)

Failed Delivery By 

10:00 

CET

The Clearing House makes the Invoice and Credit Note Report 

available to Sellers and Buyers for the previous month’s failed 

deliveries.

12 Business Days following the month or week of delivery (M +12)

Payment for Failed 

Delivery

By 

10:00 

CET

Seller makes payment for previous month’s failed deliveries.

Buyer makes/receives payment or takes receipt for previous 

month’s failed deliveries.

13 Business Days following the month or week of delivery (M +13)

Release of Seller’s and 

Buyer’s Security against 

Failed Deliveries

By 

10:00 

CET

Seller’s Security and Buyer’s Security held against failed deliveries 

is released following confirmation that payment has been made for 

all failed deliveries for the Delivery Month.

Note: in the event of a failed delivery, the Clearing House may retain Buyer’s Security and/or Seller’s Security

7.2 ICE Endex French PEG Natural Gas Daily Futures Contract

D+2

Seller’s Security and 

Buyer’s Default Top 

up

By 

10:00 

CET

In the event of a failed delivery, the Clearing House may call additional 

Seller’s Security and/or Buyer’s Security.

24 to 29 Business Days following the Delivery Day (D+24 to D+29)

Failed Delivery By 

10:00 

CET

The Clearing House makes the Invoice and Credit Note Report available to 

Sellers and Buyers for the failed deliveries.

26 to 40 Business Days following the Delivery Day (D+26 to D+40)

Payment for Failed 

Delivery

By 

10:00 

CET

Seller makes payment for the failed deliveries.

Buyers make/receive payment or take receipt for the failed deliveries.

27 to 41 Business Days following the Delivery Day (D+27 to D+41)
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

Release of Seller’s 

and Buyer’s Security 

against Failed 

Deliveries

By 

10:00 

CET

Seller’s Security and Buyer’s Security held against failed deliveries is 

released following confirmation that payment has been made.

Note: in the event of a failed delivery, the Clearing House may retain Buyer’s Security and/or Seller’s 

Security.

Note: the above timetables can be altered without notice at the discretion of the Clearing House.

8. INVOICE AND ACCOUNT SALE CALCULATION

Invoice and Account Sale 

8.1 Previous Month’s Deliveries

The Invoice and Account Sale Report gives details of all deliveries made during the Invoice Period.

Confirmed deliveries:

kWh * EDSP * 1 MWh / 1000 kWh, plus any other costs of the Clearing House as applicable 

Where

kWh = the number of kilowatt hours delivered.

EDSP = The relevant Exchange Delivery Settlement Price for the day of delivery, quoted in 

Euros per MWh.

Failed Deliveries

kWh * Delivery Failure Cost * 1 MWh / 1000 kWh, plus any other costs of the Clearing 

House as applicable 

Where

kWh = the number of kilowatt hours delivered.

Delivery Failure Cost = the costs of the Clearing House by kWh incurred from GRTGaz in 

accordance with the GRTgaz Rules in respect of any failure by a Clearing Member to 

correctly make a delivery.

8.2 Daily Deliveries 

The Invoice and Account Sale Report gives details of all deliveries made during the Invoice Period.

Confirmed deliveries:

kWh * EDSP * 1 MWh / 1000 kWh, plus any other costs of the Clearing House as applicable 

Where

kWh = the number of kilowatt hours delivered.
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

EDSP = The relevant Exchange Delivery Settlement Price for the day of delivery, quoted in 

Euros per MWh.

Failed Deliveries

kWh * Delivery Failure Cost * 1 MWh / 1000 kWh, plus any other costs of the Clearing 

House as applicable 

Where

kWh = the number of kilowatt hours delivered.

Delivery Failure Cost = the costs of the Clearing House by kWh incurred from GRTgaz in 

accordance with the GRTgaz Rules in respect of any failure by a Clearing Member to 

correctly make a delivery.

8.3 Invoice/Credit Note for Failed Deliveries

The Invoice and Credit Note Report gives details of the proportion of the Clearing House’s 

costs, incurred from GRTgaz, allocated to Clearing Members as a result of Buyer’s and 

Seller’s failed deliveries.

Credit Notes are issued to Buyers up to the contract value of the failed delivery, dependent on 

the value received by the Clearing House from GRTgaz. In the event that the value received 

by the Clearing House is in excess of the contract value, any such excess will be passed on to 

ICE Endex.

The Clearing House’s costs are allocated pro rata to those Clearing Members whose failed 

deliveries have caused the Clearing House’s net costs or charges arising from the balancing 

regime under GRTgaz Rules.

9. DELIVERY DOCUMENTATION SUMMARY

9.1 ICE Endex French PEG Natural Gas Futures Contract

Reports produced by the Clearing House are made available to Buyers and Sellers electronically.

Name of Delivery Document Explanation Timing

Daily Summary Report This report summarises on a daily basis the 

deliverable positions by Transferee/Transferor.

By 10:00 CET

Daily

Daily Detail Report This report provides details of each day’s 

deliveries.

By 10:00 CET 

Daily

ICE Endex French PEG Natural 

Gas Futures Contracts: Blanket 

Transferee Form

Where applicable, the Buyer must ensure that 

this form is submitted by the Transferee to the 

Clearing House. It must be signed by an 

authorised signatory of the Transferee as 

confirmation that they will take delivery of 

Natural Gas on any Delivery Days nominated by 

the Buyer and referred to on the ICE Endex 

French PEG Natural Gas Futures Contracts 

Confirmation Report.

By 11:30 CET 

on M-1
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

Name of Delivery Document Explanation Timing

ICE Endex French PEG Natural 

Gas Futures Contracts: Blanket 

Transferor Form

Where applicable, the Seller must ensure that 

this form is submitted by the Transferor. It must 

be signed by an authorised signatory of the 

Transferor as confirmation that they will make 

delivery of Natural Gas on any Delivery Days 

nominated by the Buyer and referred to on the 

ICE Endex French PEG Natural Gas Futures 

Contracts Confirmation Report.

By 11:30 CET 

on M-1

ICE Endex French PEG Natural 

Gas Futures Contracts 

Confirmation Report

When available, Buyers and Sellers must 

promptly provide a copy of this report to the 

relevant Transferee(s) and Transferor(s). It is a 

Transferee/Transferor order and informs Buyers 

and Sellers of Clearing Member mnemonic; 

Transferee/Transferor; Delivery Day or series of 

Delivery Days as defined in paragraph 1 of this 

Part HH from first Delivery Day to last Delivery 

Day; lots to be delivered; and a statement that if 

the Transferee/Transferor fails to notify the 

Clearing House by the necessary deadline as 

specified in these Delivery Procedures, then the 

delivery obligation is irrevocably accepted and 

the Clearing House will submit the Trade 

Nomination(s) to GRTgaz based on the Net 

Hourly Position of the Clearing Member, by the 

relevant deadline. 

By 14:00 CET 

on M-1

ICE Endex French PEG Natural 

Gas Futures Contracts Invoice 

and Account Sale 

The reports give Buyers and Sellers details of: 

Clearing Member mnemonic; Clearing Member 

account; contract; Delivery Month; contracted 

kWh MWh; actual delivered (matched) kWh

MWh; price in Euros per MWh; value of 

Natural Gas.

By 10:00 CET 

on the day 

following the 

Invoice Period

Invoice Report and Credit Note 

Report: Failed Deliveries

The report gives Buyers and Sellers with failed 

deliveries during the previous Delivery Month 

details of Clearing Member mnemonic; Clearing 

Member account; contract; Delivery Month; 

Delivery Day; amount of failed delivery long 

(kWh MWh); amount of failed delivery short 

(kWh MWh); and total costs charged to the 

Clearing Member as a result of failed 

delivery/deliveries. 

M+10 at 10:00 

CET.

9.2 ICE Endex French PEG Natural Gas Daily Futures Contract

Reports produced by the Clearing House are made available to Buyers and Sellers electronically.

Name of Delivery Document Explanation Timing
 

PART HH: ICE ENDEX FRENCH PEG NATURAL GAS FUTURES AND ICE ENDEX FRENCH PEG

NATURAL GAS DAILY FUTURES

Name of Delivery Document Explanation Timing

Daily Summary Report This report summarises on a daily basis the deliverable 

positions by Transferee/Transferor.

By 09:00 

CET 

Daily

ICE Endex French PEG Natural 

Gas: Blanket Transferee Form

Where applicable, the Buyer must ensure that this form 

is submitted by the Transferee to the Clearing House. It 

must be signed by an authorised signatory of the 

Transferee as confirmation that they will take delivery of 

Natural Gas on any Delivery Days nominated by the 

Buyer and referred to in the delivery intentions 

previously submitted for the ICE Endex French PEG 

Natural Gas Daily Futures Contract.

By 18:30 

CET on 

D-1

ICE Endex French PEG Natural 

Gas: Blanket Transferor Form 

Where applicable, the Seller must ensure that this form 

is submitted by the Transferor to the Clearing House. It 

must be signed by an authorised signatory of the 

Transferor as confirmation that they will make delivery 

of Natural Gas on any Delivery Days nominated by the 

Buyer and referred to in the delivery intentions 

previously submitted for the ICE Endex French PEG 

Natural Gas Daily Futures Contract.

By 18:30 

CET on 

D-1
SR-ICEEU-2023-015 EXHIBIT 5 PAGE 30 OF 30

ICE Endex French PEG Natural 

Gas Daily Futures Conversion 

and Confirmation Report

When available, Buyers and Sellers must promptly 

provide a copy of this report to the relevant 

Transferee(s) and Transferor(s). It is a 

Transferor/Transferee order and informs Buyers and 

Sellers of Clearing Member mnemonic; 

Transferee/Transferor; Delivery Day or series of

Delivery Days as defined in paragraph 1 of this Part F 

from first Delivery Day to last Delivery Day; lots to be 

delivered; details of the Acquiring and/or Disposing 

Trade Nomination(s) to be entered by the 

Transferees/Transferors; and a statement that if the

Transferor/Transferee fails to notify the Clearing House 

by the necessary deadline as specified in these Delivery 

Procedures, then the delivery obligation is irrevocably 

accepted and Transferee/Transferor will enter the 

correct Acquiring and/or Disposing Trade 

Nomination(s) into the TRANS@ctions Platform, by the 

relevant deadline and that the trade(s) nominations will 

not be amended or withdrawn unless instructed to do so 

by the Clearing House.

By 14:00 

CET on 

M-1

ICE Endex French PEG Natural 

Gas Daily Futures Invoice 

Report and Account Sale Report 

The report gives Buyers and Sellers details of: Clearing 

Member mnemonic; Clearing Member account; 

contract; Delivery Day; contracted kWh; actual 

delivered (matched) kWh; price in euros per MWh 

pence per Therm; value of Natural Gas; and a summary 

of the Invoice and Account Sale.

By 10:00 

CET on 

the day 

following 

the 

Invoice 

Period

Invoice Report and Credit Note 

Report: Failed Deliveries

The report gives Buyers and Sellers with failed 

deliveries details of Clearing Member mnemonic; 

Clearing Member account; contract; Delivery Day; 

amount of failed delivery long (kWh); amount of failed 

delivery short (kWh); and total costs charged to the 

Clearing Member as a result of failed 

delivery/deliveries. 

M+10 at 

10:00 

CET