EFP Trade Process

End-to-end process

Step

Action

State

Who

Where

When

  1.  

Intent to make a Physical Delivery

Required

Trading Participants

Participant systems

Prior to the Preliminary EFP Trading Window

  1.  

Submit Preliminary Trade Information (without Gas Future ID)

Optional

Trading Participants

One of the submission interfaces

During the Preliminary EFP Trading Window

  1.  

Validate Preliminary EFP Trade Information

Required

AEMO

AEMO systems

  1.  

Rectify any failed validation

If submission rejected

Trading Participants

Participant systems

  1.  

Send reports

Valid submission

AEMO

For details, see reports

  1.  

Utilise the Preliminary EFP Trade Information

If validated

AEMO

Prudential Calculations

  1.  

Rectify any breaches

Close out unrectified positions

Trading Participants

Participant systems

  1.  

Submit Final EFP Trade information with Gas Future ID and Final Price

Required

Trading Participants

One of the submission interfaces

During the Final EFP Trading Window

  1.  

Validate Final EFP Trade Information

Required

AEMO

AEMO systems

  1.  

Create GSH EFP Trade

If validated

AEMO

AEMO systems

  1.  

Send reports

GSH trade created

Trading Participants

For details, see reports

Validation

Unregistered GSH Gas Supply Hub. An exchange for the wholesale trading of natural gas. Trading Participants or those without sufficient Trading Margin See Relevant Rules or Procedures in the GSH cannot submit an EFP Trade EFP Trade Submission having 1 sell and 1 buy with a matching Gas Future ID.

Incorporation of EFP trade positions

Following the Final EFP Exchange of futures for physical Trade Future Transfer Submission having 1 sell and 1 buy with a matching Gas Future ID, AEMO Australian Energy Market Operator generates trade records, enabling incorporation of EFP Trade positions into the Delivery Netting See Relevant Rules or Procedures and Settlement processes.