PEGAS, the pan-European gas trading platform operated by Powernext, is to introduce time spread contracts on its futures markets on 24 January.
The new products will be available through the Trayport Global Vision trading platform, as well as the straight through processing (STP) registration service for OTC trades, on all PEGAS hubs (CEGH VTP, ETF, GASPOOL, NBP, NCG, PEG Nord, PSV, TRS, TTF, ZEE and ZTP).
PEGAS currently offers location spread products between its Austrian, Belgian, Danish, Dutch, French, German, Italian and UK market areas.
The new products will enable PEGAS members to trade two contracts of the same maturity with different delivery periods within the same market area (e.g. buy summer season/sell winter season).
Time spreads across maturities, for example month/quarter, and across delivery areas are not being made available.
The maturity range covers monthly, quarterly, seasonal and calendar instruments.
Richard Katz, director of sales at Powernext, says: “These time spread contracts expand the range of PEGAS derivatives offer and fully support the trading strategies of our market participants. Furthermore, the members authorised to trade in a particular market area will automatically be able to trade the new contracts on that market area without any additional fees and paperwork.”