PEGAS, the pan-European gas trading platform operated by Powernext, has introduced time spread products on its PEGAS Futures hubs.
The hubs are CEGH VTP, GASPOOL, NBP, NCG, PEG Nord, PSV, TTF and ZEE.
The new contracts are available via the Trayport Exchange Trading System (ETS), as well as the Straight Through Processing (STP) registration service for OTC trades.
On the first day, a total volume of 3.5 TWh was traded on the new products.
In total, 61 transactions were made by 38 different members, including all maturities (months, quarters, seasons and calendar years), mainly on the PEGAS CEGH VTP, PSV and TTF market areas.
All trades were cleared through European Commodity Clearing, the central clearing house of the EEX Group.
Richard Katz (pictured), director of sales at Powernext, says: “Time spread trading is an important enhancement requested by our members. The introduction of the new contracts is a great success so far. With these products, the market participants are now able to trade the difference between the prices of two contracts of the same maturity with different delivery periods within the same market area.”