IT Solutions
N°1 spot exchange for natural gas in Europe
MGSL offers natural gas contracts in 10 countries and 10 hubs across Europe. The product range covers spot, futures and options contracts for the major European gas hubs as well as trading in location spread products between these market areas. MGSL also offers a Trade Registration service for JKM® LNG contracts against the S&P Platts JKM® assessment, today's most reliable price estimation for the Asian region.
A list of market participants can be found here.
Our Natural Gas Markets
Natural gas market areas
CEGH VTP
The CEGH VTP (Central European Gas Hub Virtual Trading Point) market area is located in Austria. It is a virtual trading point operated by CEGH since 2009. Tradable contracts on MGSL include spot and futures instruments, ranging from intraday trading to the next 9 calendar years.
The trading unit is euro/MWh and the contract volume unit is MW.
CZ VTP
CZ VTP is a cooperation between Powernext, Central European Gas Hub (CEGH) and Power Exchange Central Europe (PXE).
Geographical spread products with TTF, GPL, NCG and CEGH VTP are also available. Tradable contracts include spot and futures instruments, ranging from Intraday trading to the next 6 calendar years.
ETF
The ETF hub is located in Denmark and operated by Energinet.dk. It was launched in 2008 by Gaspoint Nordic which integrated MGSL on 1 Jan 2020. Tradable contracts include spot and futures instruments, ranging from Intraday trading to the next 6 calendar years.
The trading unit is euro/MWh and the volume unit is MW.
Specifications >
NBP
The National Balancing Point (NBP) market area is located in the United Kingdom. This virtual trading point, Europe’s second most liquid gas trading zone, is operated by National Grid. Tradable NBP contracts include spot and futures instruments, ranging from intraday trading to the next 6 calendar years. The trading unit is pounds/therm and the contract volume unit is kilotherms per day.
PSV
The Punto di Scambio Virtuale (PSV), or virtual trading point, is located in Italy and operated by Snam Rete Gas. Tradable contracts on MGSL include futures instruments, ranging from the next 3 months to the next 6 calendar years. The trading unit is euro/MWh and the contract volume unit is MW.
PEG
Located in France, the PEG hub is operated by GRTgaz. It is the result of the merger between PEG Nord and TRS. Tradable PEG contracts include futures instruments, trading up to the next 6 calendar years. The trading unit is euro/MWh and the contract volume unit is MWh/day.
PVB
PVB is the natural gas virtual balancing point in Spain, operated by ENAGAS GTS. Tradable PVB contracts on PEGAS include spot and futures instruments, ranging from intraday to the next 6 calendar years. The trading unit is euro/MWh and the contract volume unit is MWh/day.
THE
Trading Hub Europe (THE) came about through the merger of the former market area managers GASPOOL Balancing Services GmbH and NetConnect Germany. THE’s main areas of business include balancing group management, operation of the Virtual Trading Points, and system balancing. Tradable contracts include spot and futures instruments, ranging from Intraday trading to the next 9 calendar years.
Specifications >
TTF
The virtual trading TTF (Title Transfer Facility) is located in the Netherlands and operated by Gasunie Transport Services since 2003. This virtual trading point is considered Europe’s most liquid market. Tradable TTF contracts on EEX include spot, futures, and options instruments, ranging from intraday to the next 9 calendar years.
The trading unit is euro/MWh and the contract volume unit is MW.
Specifications >
ZTP
Zeebrugge Trading Point (ZTP) is the newer virtual gas trading point in Belgium, operated by Fluxys since 2012. Tradable ZTP contracts on EEX include spot and futures instruments, ranging from Intraday trading to the next 6 calendar years. The trading unit is euro/MWh and the contract volume unit is MW.
Trading Natural Gas at MGSL
- Trading possible along the entire curve – from daily to annual contracts
- Trading in location spreads across Europe and between 10 different hubs
- Locally placed account managers in five major European cities
- Cross-margining benefits for all our European natural gas markets for all contracts that are cleared by one clearing house, European Commodity Clearing (ECC)