EFP Trade Submission
Goal
This project implements a physical EFP Trade Submission Information provided to AEMO by Trading Participants stored in the GSH database for matching and audit purposes Can contain many EFP Trade Records product facilitated through AEMO Australian Energy Market Operator’s Gas Supply Hub Gas Trading Exchange (GSH Gas Supply Hub. An exchange for the wholesale trading of natural gas.) market.
High-level changes
|
Function |
Description |
Reference |
|---|---|---|
|
APIs |
Detailed specifications and context for API development |
|
|
Gas Data Model v2.2 |
New data table/s established to record information provided to AEMO containing EFP Trades. |
|
|
GSH Forward Exposure |
EFP Trades Information is included in the Forward Exposure calculation |
|
|
GSH Markets Portal |
Trading Participants can enter EFP Trade Information directly in the Markets Portal web interface |
|
|
GSH Prudential Calculation |
EFP Trades are incorporated into the GSH forward Prudential Calculation |
|
|
Reports |
A new GSH Future Trade Submission report and changes to the existing Trade Execution Report |
Gas future ID
The Gas Future ID The ASX provided trade identifier required for a Final Transfer Trade is the EFP Trade EFP Trade Submission having 1 sell and 1 buy with a matching Gas Future ID Identifier for the Final EFP Exchange of futures for physical Trade Future Transfer Submission having 1 sell and 1 buy with a matching Gas Future ID. Following the last trading day Energy Rules Terms of a Futures contract, Trading Participants submit the Final EFP Trade Information The information submitted to AEMO in an EFP Trade Submission to AEMO including the required Gas Future Wallumbilla Gas Future ID and the Final Price Energy Rules Terms. The Gas Future ID is unique for each EFP Trade (one buy and one sell) and has the following format:
|
Format |
Example |
Length |
Visibility |
|---|---|---|---|
|
ASX-AEMO-nnnn-NNNNN |
ASX-AEMO-1234-AA5678 |
20 Alphanumeric characters |
Private. Only Participant Users of the Participant ID can see it. |
Format details
|
Section |
Description |
|---|---|
|
ASX-AEMO |
Common prefix |
|
-nnnn |
unique 4-digit number |
|
-NNNNN |
Unique alphanumeric sequential code 5 characters |
Trading participants
There are no registration or process changes. Existing GSH registered Trading Participants are responsible for communicating EFP Trade Information to AEMO.
EFP trade
Preliminary EFP trade submission
Prior to the last trading day of the Futures contract, Trading Participants provide AEMO with optional Preliminary EFP Trade Information without a Gas Future ID, allowing time to check registration and credit status.
AEMO uses the EFP Trade Information in Prudential Calculations:
-
Unless it is rejected by a Trading Participant See National Gas Rules.
-
Providing there are no records for the delivery period with a Gas Future ID.
Final EFP trade submission
Following the last trading day of the Futures product, Trading Participants submit the Final EFP Trade Information to AEMO with the Gas Future ID and the Final Price. The Final EFP Trading Window The Submission Period between the Start and End Dates: Start Date: First Gas Day of the Delivery Period minus 14 Calendar Days End Date: First Gas Day of the Delivery Period minus 2 Calendar Days starts after the expiry of a future contract on Business Day See Relevant Rules or Procedures minus 5 Gas Days.
Gas delivery period
There is no change to the Delivery Netting See Relevant Rules or Procedures process or systems. For the purpose of gas delivery, once transferred into the GSH, EFP Trades are treated like all other Netted GSH trades. A Trading Participant can adjust or trade out of a position in the GSH ahead of the daily Energy Rules Terms Delivery Netting run.
Prudential calculation
The GSH Prudential Calculation Settlements and Prudential Methodology determines the potential credit exposure associated with the settlement of a Trading Participant’s transactions in the GSH so EFP trades are incorporated into the forward exposure and included in the prudential calculation.
Inputs into the Prudential Calculation for EFP Trades are:
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Transaction price and volumes
-
Order price and volumes
-
EFP Trade price and volumes
Forward exposure
EFP Trades Information is included in the Forward Exposure calculation between the Preliminary EFP Trading Window See Relevant Rules or Procedures Start and End Dates.
Settlement
There is no change to the Settlement process or systems for this Release.