New Change FX embeds forward currency fixing benchmarks to support the new EEX TTF Natural Gas Month ($/MMBtu) futures contract.

For immediate release                                                                        London, 15th April 2024

New Change FX embeds spot and forward currency fixing benchmarks to support the new EEX TTF Natural Gas Month ($/MMBtu) futures contract

New Change FX (NCFX), the leading London based independent financial benchmark firm, is excited to unveil its latest collaboration with the European Energy Exchange (EEX) aimed at enhancing currency benchmarking support for the Exchange’s new TTF Natural Gas Month ($/MMBtu) Futures.

NCFX provides EEX with a daily fixing service that delivers the live NCFX Spot EUR/USD Benchmark rate and the outright NCFX forward EUR/USD benchmark rates tailored for each monthly future settlement date extending out to six years.

This collaboration represents a significant step forward in providing comprehensive support to EEX, enabling them to accurately price the underlying EEX TTF Front Month ($/MMBtu) Index as well as end-of-day settlement prices for the new futures contract.  

EEX TTF Natural Gas Month ($/MMBtu) Futures are monthly expiry futures which are financially settled against the EEX TTF Front Month ($/MMBtu) Index. TTF in $/MMBtu has grown to become a pricing benchmark of choice for European LNG imports as well as being used outside of this region for LNG related trading strategies. https://www.eex.com/en/global-commodities/lng

Scheduled for launch on April 15, 2024, this service promises to revolutionize currency benchmarking within LNG derivatives trading. Paul Lambert, CEO at New Change FX, emphasized the significance of this collaboration, stating, "This partnership with EEX underscores the universal applicability of high-quality FX benchmark data in addressing challenges across diverse asset classes. We are proud to pioneer solutions that transcend boundaries and enhance trading efficiency."

Steffen Koehler, COO of EEX, comments: “The LNG markets have grown in importance during recent years, which we also acknowledge by the introduction of our new products for this market. As a forward-looking exchange, it is important for us to provide the most accurate price guidance for our trading participants and thus we welcome innovative services, such as the new currency benchmarking solution by New Change FX. “

ENDS

For further information please contact:

Kinga Broel-Plater

Chief Commercial Officer

Tel: 0203 890 7222

E-mail: kinga.broel-plater@newchangefx.com

or your Sales representative.

Notes to Editors

New Change FX is an independent company dedicated to the measurement of foreign exchange pricing to deliver transparency and eliminate costs. New Change FX calculates independent benchmark rates which are published in real-time and used to support live trading processes. NCFX do not offer market access, trading or brokerage services and therefore users cannot directly influence the NCFX Benchmark calculation process.

To find out more please visit www.newchangefx.com. 

The EU Benchmark Regulation ((EU) 2016/1011 of the European Parliament and the Council of 8 June 2016, “BMR”) came into effect on 1 January 2018 and introduces a common framework to ensure the accuracy and integrity of indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds.

On 27 February 2018, HM Treasury in the UK passed into legislation the Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018, thereby fully adopting the BMR. 

In 2018, NCFX was granted permission by the Financial Conduct Authority (FCA) in the UK under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of administering a benchmark. 

In accordance with Article 27 of the BMR, NCFX provides benchmark statements for its families of benchmarks. 

NCFX can be found on the FCA financial services register with firm reference number 793983. The FCA is the sole regulatory supervisor for NCFX.