TTF and gas exchange

The Title Transfer Facility (TTF) is a virtual market place, which GTS uses to offer market players the possibility to sell gas already in the GTS system to another party. The TTF is able to function because of the entry-exit system. Gas in the GTS transmission system is not restricted to a particular area and can therefore change ownership easily before it leaves the system at an exit point. The TTF was established to create one market place for trading gas and, thus, increase the liquidity of gas trade.

Trading is done between customers of GTS, but GTS has to be notified of the transaction. GTS has to know who the owner is of the gas in its pipelines. For trading on the TTF shippers need a TTF subscription.

The existence of the TTF makes it possible for a gas exchange to operate. Via a gas exchange a shipper or trader can buy gas or sell it anonymously. The gas exchange operator is responsible for bringing together the gas required or offered, and for the financial transaction.

At this moment the government has appointed APX Gas NL B.V. to be a gas exchange operators, both have permission to operate a gas exchange on the TTF with the support of GTS.