ICE NGX Canada Inc.

Suite 2610, 225 – 6

th Avenue SW

Calgary, AB

Canada T2P 1N2

ngx.com

ice.com

October 31, 2023

VIA CFTC PORTAL

Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st St., N.W.

Washington, D.C. 20581

Re: Amendment to ICE NGX Canada Inc. Rules - Submission Pursuant to Section 

5c(c)(1) of the Commodity Exchange Act and CFTC Regulation § 40.6(a): Addition 

of New Futures Contract at Station #2 Delivery Point

Dear Mr. Kirkpatrick:

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended, (“Act”) and 

Commodity Futures Trading Commission (“Commission”) Regulation 40.6(a), ICE NGX Canada 

Inc. (“ICE NGX”) is submitting this self-certification to make amendments (the “Amendments”) to 

the ICE NGX Contracting Party Agreement (“CPA”). The CPA functions as the rulebook for ICE 

NGX’s exchange and clearinghouse operations and is a “rule” as that term is defined under 

Commission Regulation 40.1(i).

1. Overview 

The Amendments reflect a new natural gas pricing index to be launched by ICE NGX at Station 

#2, and a corresponding price-type addition to ICE NGX’s existing product suite. 

ICE NGX intends to implement the Amendments on December 11, 2023 (or such later date as 

may be designated by ICE NGX).

2. Addition of Pricing Type

ICE NGX is making this submission to add one (1) physically settled natural gas contract (the 

“New Futures Contract”) with delivery point at Station #2. The New Futures Contract is a pricetype addition to complement the existing Station #2 product suite, reflecting the new Station #2 

Month Ahead index that will be calculated and made available by ICE NGX. 

ICE NGX is adding the new index and the New Futures Contracts at the request of market 

participants, as clients are seeking a CAD-denominated Station #2 price index and the ability to 

trade a physically settled contracts that references the index. Similar to the existing product suite 

at Station #2, ICE NGX does not believe the New Futures Contract will be subject to manipulation 

and will provide added liquidity and transparency for trading at this delivery point.
 

ICE NGX Canada Inc.

Suite 2610, 225 – 6

th Avenue SW

Calgary, AB

Canada T2P 1N2

ngx.com

ice.com

3. Terms and Conditions of the New Futures Contract

The New Futures Contract is listed below as it will appear in Schedule “D” of the CPA. The 

amendments to Schedule “D” to reflect the New Futures Contract are included in the Appendix to 

this submission. ICE NGX will provide the New Futures Contract to its customers to be settled in

accordance with the same terms as ICE NGX’s other Canadian physically settled natural gas 

futures product offerings.

Product Name Hub Name Hub Operator Notes

NGX Phys FUT, ID, 

Month Ahead NGX 

(CA/GJ)

Enbridge 

Station #2

Enbridge (formerly 

Duke Energy Gas 

Transmission)

New price-type product 

referencing ICE NGX’s new 

Station #2 Month Ahead index

4. Compliance with Core Principles

ICE NGX reviewed the Amendments and determined that they comply with the rules and 

regulations of the Commission. In this regard, ICE NGX reviewed the derivatives clearing 

organization (“DCO”) core principles (each a “Core Principle”) and determined that the 

Amendments are potentially relevant to the following Core Principles and applicable regulations 

of the Commission thereunder.

Compliance (Core Principle C): The Amendments are consistent with Core Principle C -

Compliance and Commission Regulation 39.10, as the New Futures Contracts meet ICE NGX’s 

product eligibility standards, developed in accordance with Core Principle C, including, in 

particular, ICE NGX’s ability to manage the risk associated with the New Futures Contracts. 

5. Certifications

ICE NGX certifies that the proposed Amendments to the CPA discussed in this submission 

comply with the Act and the rules and regulations promulgated by the Commission thereunder. 

ICE NGX is not aware of any substantive opposing views expressed regarding the amendments. 

ICE NGX further certifies that, concurrent with this filing, a copy of the submission was posted on 

ICE NGX’s website and may be accessed at https://www.ice.com/ngx. 

Yours truly,

________________________

By: Martin McGregor

Title: General Counsel & CCO

Date: October 31, 2023
 

ICE NGX Canada Inc.

Suite 2610, 225 – 6

th Avenue SW

Calgary, AB

Canada T2P 1N2

ngx.com

ice.com

AMENDMENTS TO THE ICE NGX CONTRACTING PARTY AGREEMENT

SCHEDULE D - ICE NGX PRODUCT LIST

Product 

Name on 

ICE

Hub 

Name

NGX 

Prod

uct = 

NGX; 

NGX 

Clear

ed 

Prod

uct = 

ICE

Phys 

or Fin

Pr

od

uct 

Ty

pe

Unit/ 

Curre

ncy

Floating 

Price - 

Index 1

Fl

oa

tin

g 

Pri

ce 

-

In

de

x 2

Index 1 

Publica

tion

Index 2 

Publica

tion

Hub 

Operator 

or U.S. 

Hub 

Operator

Tariff Accesse

d via 

WebICE 

and 

trades/Cl

ears as 

NGX:

OTC 

Clears 

thru 

DCO 

As 

(EFRP

)

NGX 

Bilate

ral 

trade

s on 

NGX 

as:

Minimu

m 

Futures 

Block 

Size 

(GJ/MM

Btu)

PHYSICAL 

FUTURES

NGX Phys 

FUT, ID, 

Month 

Ahead NGX 

(CA/GJ)

Enbri

dge 

Statio

n #2

NGX Phys ID CAD/

GJ

ICE NGX 

Enbridge 

Station 

#2 Month 

Ahead 

Index

Exchan

ge's 

Website 

and 

CGPR

Enbridge 

(formerly 

Duke 

Energy 

Gas 

Transmis

sion)

Duke 

Energy 

Gas 

Transmis

sion 

General 

Terms & 

Conditio

ns

Physically 

Settled 

Future

Physic

ally 

Settled 

Future

N/A 100