Europe’s most transparent natural gas indices

    EEX AG calculates and publishes a range of indices for our European natural gas markets. Each index is adapted to specialised needs. The common denominator being that they are objective, based on transactional market data, and have a clearly documented methodology.

    With our natural gas indices, we provide reliable and traceable price references. Our methodologies are rule-based and published in full to give complete transparency of the calculation process.

    By publishing the traded prices and volumes, the exchange safeguards transparency and provides a reliable reference signal to the market. A market-based reference price forms an essential operational basis for the market players – including investment decisions.

    All indices provided by EEX AG are based on market data resulting from exchange trading at EEX or on other market information. In general, indices or individual values thereof are not exchange prices but the result of mathematical calculations.

    EEX AG provides Europe’s most transparent and trustworthy natural gas reference prices with our natural gas spot market indices. They are based on thousands of on-screen exchange trades from more than 200 active market participants, making them robust, transparent, and reliable.

    EEX European Gas Spot Index (EGSI)

    The EEX EGSI® is a volume-weighted average price of trades in the day-ahead and weekend contracts executed between 8:00 and 18:00 on the exchange trading day before the start of the delivery period of the contract.

    EEX Next Day Index (NDI)

    The EEX NDI is a volume-weighted average price of trades in the day contracts with delivery on the following day executed between 8:00 and 18:00 on the calendar day before the start of the delivery day.

    The NDI is calculated and published on every calendar day, including the weekend, making sure you always have the most recent price reference for next-day delivery. From Tuesday to Friday, the NDI is equal to EGSI. On Friday evening, the NDI is calculated for the delivery day of Saturday based on trades in the Saturday day contract. Likewise, on Sunday evenings, the NDI for the delivery day Monday is calculated based on trades in the Monday day contract.

    EEX TTF Neutral Gas Price TTF (TTF NGP)

    The EEX TTF NGP is the volume-weighted average price of all trades executed in all EEX TTF Natural Gas Hourly, Within-Day, Day and Weekend Spot Contracts for a specific gas delivery day ("D"). TTF NGP is calculated and refreshed every 15 minutes for D (the current delivery day), D+1 (the next gas delivery day), and for D+2 (the day after the next gas delivery day). After the end of a gas delivery day D, the final TTF NGP is published shortly after the end of delivery.

    EEX Daily European Gas Index (EGIX®)

    The EEX Daily EGIX® is a volume-weighted average price of all trades in the month futures for a specific market area executed on the EEX Natural Gas Futures Market on that day.

    EEX Monthly European Gas Index (EGIX®)

    The EEX Monthly EGIX® for a specific market area is the arithmetic mean of the EEX Daily EGIX®.

    EEX Monthly Index

    The EEX Monthly Index is an average of all daily settlement prices for Natural Gas Futures in the front month for a specific market area.

     

    Calculation methodology

    Index data

    Market data on our natural gas indices can be found in the section Market Data > Natural Gas > Natural Gas Indices.

    To the index data

    Index description

    For more information on EEX indices, please check our Index Description, which explains the methodologies for indices that do not fall under Regulation (EU) 1011/2016 (“Benchmark Regulation”).

    To the index description

    Benchmark statement

    Indices used as a reference price for financial instruments traded at EEX qualify as benchmarks under Regulation (EU) 1011/2016 (“Benchmark Regulation”).  

    The market areas with financial contracts can be found under EGSI Futures.

    Benchmarks are exclusively covered in the Benchmark Statement of EEX AG.

    To the benchmark statement

    Settlement prices for derivatives

    The calculation of daily settlement prices for derivatives or premiums for options that are tradable at EEX or EEX OTF, are not considered as indices. The methodologies for the determination of daily settlement prices and option premiums are outlined in the Settlement Pricing Procedure.

    Final settlement prices of derivatives traded at EEX and EEX OTF are defined in the Contract Specifications of EEX.

    If you are interested in settlement prices, please have a look at our natural gas futures market data pages.

    Development of new indices

    In a constantly changing marketplace, new needs arise and must be met. At EEX, we strive to build markets together with you. Therefore, we encourage market participants to contact us with ideas and requirements for potential new indices.

    Get in touch with our experts

    Henrik Sørensen
    Business Development Gas Markets

    henrik.soerensen@eex.com