# US Physical Natural Gas

Molecule's approach for managing physical natural gas in the US is based on our large library of standardized Products.

#### Location Modeling

We use a standard set of base products, available at each receipt and delivery point. These apply to purely bilateral trades, as well as exchange-OTC physical hybrids (such as trades entered on ICE NGX).

Each natural gas location has products for:

* Inside FERC
* Fixed Price Daily
* Fixed Price Monthly
* Fixed Price Spot
* Gas Daily Spot
* Gas Daily Monthly
* Basis LD1

#### Deal Modeling

Typically, monthly gas deals are entered in lots (for exchange hybrids) or mmBTU/day. For the delivery month, Molecule's [Cascading](https://help.molecule.io/core-functionality/core-features/specialized-features/cascading) feature generates daily flow volumes that can then be actualized.

#### Pricing & Settlement

Any Molecule bilateral product (`M.XXXX`) supports formula pricing. For physical US gas products, Molecule's standard configuration applies best available pricing to monthly products where appropriate. The best-available feature allows the system to price a deal against an estimate during its lifetime before settling against the relevant benchmark.

#### Forward Marks

Valuations can be calculated using any forward curve you provide, posted to the relevant trade's product. This can be a fully-resolved price or, if you wish, a curve build set up by our Customer Success team or developed by your team.

#### Exposures

For customers using Molecule's Exposures feature, curve building also allows the system to contemplate volumetric underlying exposures (e.g., NYMEX + Basis).

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