TP ICAP facilitates first Argus TTF-indexed gas trade via Trayport Joule

London, 16 July 2026

Market participants can now trade natural gas instruments linked to price assessments published by global energy and commodity price reporting agency Argus using Trayport’s aggregated energy and commodity screen, Joule. TP ICAP facilitated the first Argus TTF day-ahead indexed transaction on the platform on 7 July 2026.

The transaction, brokered by TP ICAP group — a world-leading provider of financial markets infrastructure — was the first physically settled trade on Joule using an instrument linked to the Argus TTF day-ahead gas assessment. The instrument allows buyers and sellers to settle physically delivered gas contracts at a differential to end-of-day prices published in the Argus European Natural Gas report. This builds on broad use of Argus prices in digital marketplaces, in physical supply agreements, risk management strategies and commercial contracts across the European gas and global LNG markets.

The launch meets growing demand for risk-management tools linked to Argus price benchmarks. Participants with exposure to contracts indexed to Argus assessments can now trade directly against those benchmarks, helping to align physical positions with hedging activity and reducing basis risk.

The Dutch TTF is Europe’s biggest gas trading hub and one of the world’s most actively traded energy markets. Since 2022, it has cemented its role as the primary reference for European gas and an important benchmark for global LNG procurement. This follows a reconfiguration of Europe’s gas supply mix, with LNG replacing lost Russian pipeline gas.

“This important milestone reflects the market’s confidence in Argus prices and our long-standing dedication to serving Europe’s gas sector,” Argus Media chairman and chief executive Adrian Binks said. “We are pleased to see increasing adoption of Argus TTF prices in supply agreements and risk-management activities across the market.”

“We were pleased to enable this landmark step for liquidity in the European gas market,” TP ICAP managing director Andrew Temple said. “Our support for this new Argus gas trading instrument is part of our commitment to expand the tools available to buyers and sellers to manage price risk across energy markets.”

A range of Argus gas price assessments are available to trade on marketplaces ultilisingTrayport’s technology. Argus Guarantee of Origin prices are also available to all permissioned users through Trayport’s Joule, the leading global electronic solution for over 9,800 traders of European energy commodities and environmental markets.